Global Managed Detection and Response Growth Opportunities

Global Managed Detection and Response Growth Opportunities

Competitive Intensity Drives AI-powered Innovation and Extended Service Offerings in the Rapidly Evolving and Fast-growing MDR Space

RELEASE DATE
21-Feb-2024
REGION
Global
Research Code: K943-01-00-00-00
SKU: IT_2024_589
AvailableYesPDF Download
$4,950.00
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SKU
IT_2024_589
$4,950.00
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Description

MDR is a managed security service that provides a combination of security tools, controls, and human expertise to deliver proactive 24x7 monitoring of a security environment and perform detection and response. While organizations have been providing SOC services for many years, MDR as a service has evolved. The change is due to fierce competition from inside and outside the MDR space and compounding external factors, such as the evolving threat landscape, the COVID-19 pandemic, and challenging geopolitical situations.

Several years ago, MDR was a security service focused on monitoring the environment and alerting customers’ security teams about cyber threats. It was fit for small and medium-sized businesses wanting help to handle security operations. Today, MDR is a threat detection and response powerhouse equipped with in-built capabilities for advanced threat investigation and threat hunting, augmented by AI, ML, and automation as well as collaborative features that work in unison with customer teams to manage their security stacks.

The MDR competitive environment is intense due to the influx of new competitors and the service's constant evolution. MDR is a well-established solution category in the cybersecurity space, and adoption is expected to accelerate in 2024. MDR companies will continue to thrive and differentiate themselves with their unique offerings as a growing number of organizations discover how the service can fulfill their present and future security needs.

Converging evolution with XDR solutions, increasing competitive intensity, leveraging generative AI and LLM algorithms to empower analysts, providing visibility and response capabilities across all environments, and increasing customer maturity and resilience will be the driving factors in the development of MDR platforms for the foreseeable future.

Author: Lucas Ferreyra

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Managed Detection and Response MDR) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

MDR’s Core Aspects

MDR Evolution and Trends

MDR Evolution and Trends (continued)

Key Competitors

Key Growth Metrics

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast by Industry Vertical

Revenue Forecast by Company Size

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Pricing Trends and Forecast Analysis

Competitive Environment

Growth Opportunity 1: Enhancing MDR with Complementary Services and Tools

Growth Opportunity 1: Enhancing MDR with Complementary Services and Tools (continued)

Growth Opportunity 2: Extending Visibility Over the Environment and Increasing Versatility with Third-party Integration

Growth Opportunity 2: Extending Visibility Over the Environment and Increasing Versatility with Third-party Integration (continued)

Growth Opportunity 3: Leveraging AI, ML, and LLMs to Improve the Analyst Experience

Growth Opportunity 3: Leveraging AI, ML, and LLMs to Improve the Analyst Experience (continued)

Growth Opportunity 4: Providing Localized Support Through SOCs and Language Coverage

Growth Opportunity 4: Providing Localized Support Through SOCs and Language Coverage (continued)

Any Type of Organization can Leverage MDR

Points to Consider Before Deploying an MDR Service

MDR versus XDR—Convergent Developments

Your Next Steps

Why Frost, Why Now?

List of Exhibits

Legal Disclaimer

MDR is a managed security service that provides a combination of security tools, controls, and human expertise to deliver proactive 24x7 monitoring of a security environment and perform detection and response. While organizations have been providing SOC services for many years, MDR as a service has evolved. The change is due to fierce competition from inside and outside the MDR space and compounding external factors, such as the evolving threat landscape, the COVID-19 pandemic, and challenging geopolitical situations. Several years ago, MDR was a security service focused on monitoring the environment and alerting customers security teams about cyber threats. It was fit for small and medium-sized businesses wanting help to handle security operations. Today, MDR is a threat detection and response powerhouse equipped with in-built capabilities for advanced threat investigation and threat hunting, augmented by AI, ML, and automation as well as collaborative features that work in unison with customer teams to manage their security stacks. The MDR competitive environment is intense due to the influx of new competitors and the service's constant evolution. MDR is a well-established solution category in the cybersecurity space, and adoption is expected to accelerate in 2024. MDR companies will continue to thrive and differentiate themselves with their unique offerings as a growing number of organizations discover how the service can fulfill their present and future security needs. Converging evolution with XDR solutions, increasing competitive intensity, leveraging generative AI and LLM algorithms to empower analysts, providing visibility and response capabilities across all environments, and increasing customer maturity and resilience will be the driving factors in the development of MDR platforms for the foreseeable future. Author: Lucas Ferreyra
More Information
Author Lucas Ferreyra
Industries Information Technology
No Index No
Is Prebook No
Podcast No
Predecessor K6F8-01-00-00-00
WIP Number K943-01-00-00-00