Endpoint Detection and Response (EDR) Market Size to Hit $18.3 Billion by 2031 | CAGR 25.3%
Major determinants of the market growth
Increase in use of cloud-based endpoint detection and response for safety and security reasons and penetration of cloud-based technologies have boosted the growth of the global endpoint detection and response market. Moreover, governments have focused on increasing investment in IT operations for various industries, which allows businesses to adopt new solutions and services streamline their business operations. This will open new opportunities in the future.
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Covid-19 scenario:
The Covid-19 pandemic triggered social stress and led to economic disruption across the world. However, it positively affected the adoption of endpoint detection and response.
Moreover, companies are focused on advanced technologies such as AI-powered solutions, computing technology, automation, and cloud-based EDR across various industries such as healthcare, BFSI, and government.
The solution dominated the market growth
By component, the solution segment held the largest share in 2021, accounting for more than two-thirds of the global endpoint detection and response market, as they offer benefits such as improving detection and response to cyber incidents. However, the services segment is expected to register the highest CAGR of 26.4% during the forecast period, owing to creased business competition, legislation, user needs, and project risks.
The retail segment to manifest the highest CAGR through 2031
By industry vertical, the retail segment is expected to register the highest CAGR of 31.7% during the forecast period, due to increasing use of mobile devices among individuals. However, the retail segment is expected to hold the largest share in 2021, contributing to more than one-fifth of the global endpoint detection and response market, as EDR solutions offer flexibility and security in workplace from malware functions in real estate.
North America held the largest share
By region, the global endpoint detection and response industry across North America dominated the market in 2021, holding more than two-fifths of the market, due to increased use of endpoint detection and response in forensic, government, and banking & finance for security purposes to improve businesses and customer experience. However, the market across Asia-Pacific is expected to register the highest CAGR of 28.4% during the forecast period, owing to presence of robust IT infrastructure and solid software and services.
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Major market players
Carbon Black Inc.
Cisco Systems, Inc.
Crowdstrike Inc.
Intel Corporation
McAfee, LLC
Microsoft Corporation
Palo Alto Networks, Inc.
RSA Security LLC.
Symantec Corporation
Trend Micro Incorporated
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