The Endpoint Detection and Response (EDR) Market is estimated to be valued at US$ 3430.46 Mn in 2023 and is expected to exhibit a CAGR of 26.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Endpoint detection and response systems enable organizations to monitor endpoints and detect threats such as malware, viruses, and cyberattacks. EDR solutions analyze endpoint behaviors using machine learning and AI capabilities to identify advanced persistent threats and compromised endpoints. The growing need for continuous monitoring of endpoints to protect systems from advanced cyber threats is driving demand for EDR solutions.
Market key trends:
One of the major trends in the EDR market is the increased detection of advanced persistent threats. Cybercriminals are constantly evolving their tactics and using sophisticated techniques to compromise systems. Advanced persistent threats bypass traditional antivirus solutions and go undetected for extended periods. EDR solutions leverage behavior analytics and machine learning to detect anomalies in endpoint behaviors and identify advanced threats. The ability of EDR to detect advanced persistent threats that other solutions miss is a key factor boosting its adoption across organizations.
Porter’s Analysis
Threat of new entrants: The EDR market exhibits moderate threat from new entrants due to high R&D and capital investments required to develop EDR solutions. However, the market is growing at a significant pace providing opportunities for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various EDR vendors providing customized solutions. However, switching costs associated with changing vendors increases buyer dependency.
Bargaining power of suppliers: Technology providers have low bargaining power due to presence of numerous solution providers and providers depend on technology players for continued innovation.
Threat of new substitutes: Threat is low as no direct substitute exist for EDR solutions. Traditional antivirus solutions are not effective against sophisticated threats indicating no close substitute.
Competitive rivalry: Intense due to presence of global and regional vendors providing proprietary solutions along with managed and consulting services.
SWOT Analysis
Strengths: EDR is advanced solutions for addressing sophisticated threats. Provides comprehensive visibility and responds effectively to incidents.
Weaknesses: High implementation and maintenance costs. Require specialized knowledge and skills for operating complex solutions.
Opportunities: Increasing adoption across SMBs provides growth opportunities. Integration of AI/ML, third-party data sources adding more capabilities.
Threats: Stringent data privacy regulations pose compliance challenges. Talent crunch increases overheads.
Key Takeaways
The Global EDR Market Growth is expected to witness high at a CAGR of 26.% over the forecast period due to increasing sophistication of threats. North America dominates currently due to stringent regulatory standards and early adoption of advanced security solutions among enterprises. The market in Asia Pacific is expected to grow at the fastest pace owing to the rapid digital transformation and rising cybercrimes in the region.
Key players operating in the EDR market are RSA Security (DELL EMC), Carbon Black Inc., McAfee Corporation, Cisco Systems Inc., OpenText Corporation, FireEye Inc., CrowdStrike Inc., Digital Guardian, Broadcom Inc., Deep Instinct, and Cybereason Inc. Vendors focus on continuous technology enhancements for addressing progressively advanced threats through AI/ML integration and third-party data partnerships.
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