Network and Cloud Security Drive Growth in Managed Detection and Response

The managed detection and response (MDR) market is projected to reach USD 14,797.6 million by 2030, growing at a rate of 23.4% from USD 4200.6 million in 2024. This growth is driven by the widespread adoption of IoT and other advanced technologies. The increasing need for real-time data monitoring and the rise in cyberattacks are key factors fueling industry expansion.

Network security dominates the market share due to rising cybercrime, heightened demand for sensitive data protection, and the proliferation of mobile devices. In 2022 alone, more than 4,000 data breaches were reported, highlighting the severe consequences such as reputation damage, asset infringement, and identity theft.

Effective network security is critical for safeguarding valuable information, especially amidst evolving hacking techniques and the growing adoption of 5G technology, which further underscores its importance.


Cloud security is also experiencing significant growth as SMEs and large enterprises expand their cloud-based operations and embrace hybrid cloud environments. Cloud deployment accounted for 65% of the managed detection and response market in 2023, offering easy access to solutions via the internet. This deployment method is favored by IT-centric organizations for its cost efficiencies, protection against threats like hyperjacking and DDoS attacks, ease of scalability, and enhanced collaboration across departments.

Small and medium-sized enterprises are expected to grow rapidly, driven by increased cyber threats and the adoption of advanced technologies over traditional ones. Managed detection and response solutions play a crucial role in securing SMEs' assets against modern and persistent threats, leading many companies to offer tailored cybersecurity solutions for smaller firms.

For instance, in March 2023, NTT launched a scalable, cloud-native managed detection and response service, enhancing cyber resilience amidst global IoT proliferation and heightened focus on real-time data monitoring. This trend is expected to continue shaping the market in the coming years.

Comments

Post a Comment

Popular posts from this blog

What Is a Data Center? How Does a Data Center Operate

Image
In simple words, a data center is a physical capability that establishments utilize to house their vital applications and information. A data center's structure is based on a network of computing and storing resources that allow the distribution of shared apps and data. The major components of a data center design comprise switches, routers, storage systems, firewalls, servers, and application-delivery controllers. The data center market is witnessing growth and is projected to reach USD 602.76 billion by 2030. What Defines a Modern Data Center? Contemporary data centers are more diverse than they were just a short period ago. Infrastructure has shifted from old-style on-premises physical servers to computer-generated networks that help apps and workloads across pools of bodily infrastructure and into a multi-cloud atmosphere. In this world, information exists and is linked through several data centers, the edge, and private and public clouds. The data center should be capable of
Read more

How Will Rapid Industrialization Drive Hydraulic Equipment Demand?

Image
The Government of India completed the construction of 2,734 projects under the Smart City Mission till 2021. The government is currently working on the construction of 100 smart cities, 6 new ports and 14 coastal economic zones (CEZs). Likewise, Infrastructure Australia (IA) approved the construction of 44 new infrastructure projects in February 2021. The rising construction activities, on account of the booming population and mounting investments being made in the construction sector, will propel the need for hydraulic equipment in the coming years. Additionally, the rapid industrialization in developing countries will drive the hydraulic equipment market growth during 2021–2030. According to P&S Intelligence, the market generated a revenue of $37 billion in 2020. For instance, the United Nations Industrial Development Organization (UNIDO) aims to offer institutional support to special economic zones (SEZs) and industrial and technology parks in Brazil. The UNIDO will help Brazil
Read more

Why Is OLED Material Consumption Highest in Asia-Pacific?

Image
The technology of TV displays has evolved significantly from the cathode ray tubes of the mid-20th century to the liquid crystal displays (LCDs) and light-emitting diodes (LEDs) of the first decade of the 21st century. With efforts on to make the displays even better, organic light-emitting diodes (OLEDs) have been invented, which are rapidly becoming popular in TVs, smartphones, laptops, tablets, and automotive displays. This is because of the several advantages OLED screens offer, including brighter pictures, larger viewing angles, ability to work in a wider temperature range, and lower power consumption. Moreover, OLEDs are so thin that they can be used for curved and folded screens, which are becoming rapidly popular, especially in wearable devices and other consumer electronics. Similarly, transparent displays, which are helping revolutionize advertising activities, have become possible due to OLEDs. P&S Intelligence cites these advantages and the constant research being put i
Read more