Managed Detection and Response Market Witness the Growth of $1,658.0 Million by 2022

09-22-2020 01:13 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Managed Detection and Response Market Witness the Growth

According to a research report “ Response Market by Security Type (Endpoint, Network, Application, Cloud), Deployment (On-Premises, Hosted), Organization Size (SMEs, and Large Enterprises), Industry Vertical, and Region – Global Forecast to 2022″, The is expected to grow from USD 419.7 Million in 2017 to USD 1,658.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 31.6% during the forecast period. The major forces driving the growth of the MDR market include the increase in the enterprise targeted cyber-attacks, shortage of cybersecurity practitioners, and need for compliance to various government regulations. Moreover, technological advancement and increasing adoption of technologies such as Internet of Things (IoT) across various end-use applications are some of the factors that are driving the market growth.