in Security

Rise of advanced cyber threats drives demand for MDR solutions

Posted 15 June 2020 · Add Comment

Frost & Sullivan's recent analysis, Global Managed Detection and Response Market, Forecast to 2024, highlights that increasing numbers of sophisticated cyber threats will lead to a rise in demand for Managed Detection and Response (MDR) solutions from small and medium businesses.



Image courtesy PRNewsfoto / Frost & Sullivan


The market size is poised to grow at a CAGR of 16.4% between 2019 and 2024, with revenues expected to reach $1.9 billion.

"The rise in the number and complexity of threats has made internal management of information security increasingly laborious and expensive. In this context, outsourcing is being viewed as a strategic ally in securely managing IT environments in line with companies' business strategies," said Mauricio Chede, Senior Industry Analyst, Frost & Sullivan. "MDR providers offer organisations the technology, process, and people to enable the proactive monitoring of their customer security environment and 24/7 threat detection to help mitigate security breaches, even more so during COVID-19."

Chede added: "MDR providers must demonstrate trustworthiness in remediation without interrupting a customer's business operations. They must adapt themselves to the customer's needs and budget, understanding the vertical they are in and providing detection and response solutions in the shortest period of time, along with custom reports. Personal interaction through email or telephone with an assigned analyst is also a differentiating factor."

For further revenue opportunities, MDR vendors should:

  • Improve the quality of their solutions and offer new services to compete with new market participants and increase revenues.
  • Develop customisable MDR solutions at affordable prices to attract small and midsized businesses.
  • Explore the merger and acquisition of competitors to enhance regional presence and maximise revenues.
  • Offer consulting and value-added services to help clients take advantage of digital transformation initiatives.

Global Managed Detection and Response Market, Forecast to 2024 is part of Frost & Sullivan's global Information and Communication Technology Growth Partnership Service programme.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Airbus reveals new zero-emission concept aircraft

Airbus has revealed three concepts for the world’s first zero-emission commercial aircraft, all running on hydrogen, which could enter service by 2035.

Rolls-Royce tests tech set to power world's fastest all-electric plane

Rolls-Royce has completed testing of the ground-breaking technology that will power the world’s fastest all-electric plane.

Blighter launch A800 3D drone detection radar

Blighter Surveillance Systems has launched the latest in its radars range, the A800 3D drone detection radar for land, air and sea surveillance.

RVL introduces King Air quick change capability

Specialist aviation services provider RVL Group, based at the expanding East Midlands Airport cargo hub, has introduced its 'quick-change cargo system' capability on a new Beechcraft King Air B200 aircraft, which it received in May.

Willis Towers Watson adds to its aviation team

Global advisory, broking and solutions company, Willis Towers Watson, has made significant appointments across its global aviation team to provide class-leading renewals for clients.

Vertical Aerospace secures £2.3m ATI Funding

Bristol based Vertical Aerospace has received investment from the Aerospace Technology Institute (ATI), to fund the development of a smart charger for their VA-1X electric aircraft.

Getac SK2606280920
See us at