Carbon Black, Cisco, Crowdstrike Among Leaders in Fast-Growing EDR MarketCarbon Black, Cisco, Crowdstrike Among Leaders in Fast-Growing EDR Market
The COVID-19 pandemic positively affected EDR adoption.
July 19, 2022
Endpoint detection and response (EDR) presents a lucrative channel opportunity. That’s because forecasters predict the global market should reach $18.3 billion by 2031.
That’s according to a new report by Allied Market Research (AMR), which expects a compound annual growth rate (CAGR) of more than 25% through 2031. The EDR market was worth $1.9 billion last year.
Major market players include Carbon Black (VMware), Cisco, CrowdStrike, Intel, Microsoft, Palo Alto Networks, RSA Security and more.
The increase in use of cloud-based EDR for safety and security reasons, and penetration of cloud-based technologies have boosted market growth. Moreover, governments have focused on increasing investment in IT operations for various industries. That allows businesses to adopt new solutions and services to streamline their business operations. This will open new opportunities in the future.
Other EDR Market Drivers
The COVID-19 pandemic positively affected EDR adoption. Moreover, companies increasingly focus on advanced technologies such as artificial intelligence (AI)-powered solutions, computing technology, automation and cloud-based EDR across various industries such as health care, banking, financial services and insurance (BFSI), and government.
By component, the solution segment held the largest share in 2021. It accounted for more than two-thirds of the global EDR market as solutions offer benefits such as improving detection and response, to cyber incidents. However, AMR saus the services segment will register the highest CAGR, 26.4%, through 2031.
By industry vertical, retail should have the highest CAGR – nearly 32% – through 2031. That’s due to the increasing use of mobile devices among individuals.
By region, the global EDR industry across North America dominated the market in 2021. It held more than two-fifths of the market due to increased use of EDR in forensic, government, and banking and finance to improve businesses and customer experience. However, expect Asia Pacific to register the highest CAGR – more than 28% – through 2031. That’s due to the presence of strong IT infrastructure and solid software and services.
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