by The global Endpoint Detection and Response (EDR) Market is growing significantly due to increasing sophistication in cyber threats like ransomware. EDR solutions offer automated endpoint security by continuous monitoring and deep inspection of threats at endpoint devices like laptops, desktops and servers and taking remedial actions in real-time to block attacks. EDR solutions leverage techniques like machine learning and behavioral analytics to detect malware and ransomware attacks in advanced stages. EDR solutions provide endpoint visibility, attack investigation and response capabilities needed to address evolving ransomware threats.
The global Endpoint Detection And Response (EDR) Market is estimated to be valued at Us$ 3430.46 Million in 2023 and is expected to exhibit a CAGR Of 7.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing ransomware attacks and data breaches have compelled organizations to invest in robust endpoint security solutions like EDR. Ransomware attacks have been rapidly rising as they are becoming more sophisticated by encrypting critical files and demanding ransom. According to a Cybersecurity Ventures report, there was a 151% increase in global ransomware attacks in 2021. EDR solutions have emerged as an effective approach to counter ransomware attacks by detecting suspicious behaviors, preventing malware propagation and providing remediation plays. Another driver for EDR adoption is the need for enterprises to ensure endpoint visibility and meet compliance requirements. As remote and hybrid work models have become a norm,workforces rely more on endpoints beyond the traditional office network perimeter, increasing the attack surface. EDR solutions address this challenge by providing centralized monitoring and control of all endpoints regardless of user location.
Segment Analysis
The Endpoint Detection and Response (EDR) market is dominated by the network security sub-segment. Network security tools offers real-time detection and remediation of advanced threats targeting network devices and infrastructure. These tools provide vital information about intruder activities on the network which help organizations take timely action to contain breaches. The growing dependency of organizations on network infrastructure and increasing sophistication of network attacks are key factors propelling demand for network security solutions within the EDR market.
PEST Analysis
Political: Governments across the world are introducing stringent data privacy and cybersecurity regulations to safeguard critical infrastructure and customer data. This is driving demand for advanced EDR solutions from organizations looking to achieve compliance.
Economic: The global economic slowdown is prompting organizations to tightly monitor cybersecurity budgets. This has increased focus on deployed cost-effective and integrated EDR solutions for consolidated threat visibility and response.
Social: Sophisticated phishing campaigns and ransomware attacks targeting individuals are on the rise. This is raising awareness about advanced cyber threats among consumers and workforces.
Technological: The rapid adoption of cloud, IoT and mobile technologies have expanded the attack surface for cybercriminals. This is stimulating demand for AI-powered next-gen EDR solutions capable of detecting even unknown threats across hybrid environments.
Key Takeaways
The Global Endpoint Detection And Response (EDR) Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis :
The North American region dominates the global EDR market currently. Factors such as stringent data protection laws and rising volumes of sophisticated cyberattacks are fueling early adoption of advanced EDR solutions across enterprises in the region. The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Rapid digital transformation of industries and increasing spending on cybersecurity by governments in major economies like China and India will support market expansion.
Key players operating in the Endpoint Detection and Response (EDR) market are Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd€TMs Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding Services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., SCA Pharma, and Vertisis Custom Pharmacy.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
