At 24.2% CAGR, Asia Pacific Extended Detection and Response Market is Projected to be Worth US$ 2,335.85 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific extended detection and response market was valued at US$ 413.58 million in 2023 and is expected to reach US$ 2,335.85 million by 2031, registering a CAGR of 24.2% from 2023 to 2031. Growing need to shift from endpoint detection and response to extended detection and response and increasing complexity of business processes are among the critical factors attributed to the Asia Pacific extended detection and response market expansion.

Business complexity refers to forming a large, interconnected network of technologies, products or services, data, and people within an organization. The larger the company, the more complex the business will be. Nowadays, businesses have to manage an increasing number of tools and data, making them more complex. At the same time, market conditions and working environments are changing faster than ever, making it necessary for businesses to react and make decisions quickly. In order to react to change effectively, companies need a clear understanding of their processes, tools, and data.

Organizations are under tremendous pressure to adapt to this mix of accelerated change and greater complexity. In order to stay competitive in the market, organizations need a way to clarify business complexity. Many firms now face a higher level of complexity due to the COVID-19 pandemic than they did a few years ago. The pandemic accelerated the change in business processes, requiring enterprises to adapt to a new market quickly, provide new tools to support a remote workforce, and step up their attempts to undergo digital transformation. The focus on digitization remains a priority for organizations nowadays. All these factors increase the complexity of business processes within an organization. With the use of more systems and complexity in an organization, malicious actors can access data or cause disruptive attacks that significantly harm business operations, reputation, and finances. Thus, organizations increasingly focus on adopting cybersecurity solutions.

Extended detection and response (XDR) has proven helpful as a cybersecurity technology that monitors and mitigates threats across multiple sources and layers of defense. Thus, the increasing complexity of business processes drives the extended detection and response market.

On the contrary, integration and interoperability issues hampers the growth of Asia Pacific extended detection and response market.

Based on component, the Asia Pacific extended detection and response market is bifurcated into software and services. The software segment held 75.4% market share in 2023, amassing US$ 311.70 million. It is projected to garner US$ 1,804.36 million by 2031 to register 24.5% CAGR during 2023-2031.

In terms of deployment, the Asia Pacific extended detection and response market is bifurcated into cloud and on-premises. The cloud segment held 72.7% share of Asia Pacific extended detection and response market in 2023, amassing US$ 300.51 million. It is projected to garner US$ 1,781.09 million by 2031 to expand at 24.9% CAGR during 2023-2031.

In terms of enterprise size, the Asia Pacific extended detection and response market is bifurcated into large enterprises and SMEs. The large enterprises segment held 70.5% share of Asia Pacific extended detection and response market in 2023, amassing US$ 291.39 million. It is projected to garner US$ 1,703.57 million by 2031 to expand at 24.7% CAGR during 2023-2031.

In terms of end user, the Asia Pacific extended detection and response market is segmented into IT & Telecom, BFSI, healthcare, retail and Ecommerce, manufacturing, and others. The IT & Telecom segment held 25.6% share of Asia Pacific extended detection and response market in 2023, amassing US$ 105.72 million. It is projected to garner US$ 621.40 million by 2031 to expand at 24.8% CAGR during 2023-2031.

Based on country, the Asia Pacific extended detection and response market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 31.8% share of Asia Pacific extended detection and response market in 2023. It was assessed at US$ 131.39 million in 2023 and is likely to hit US$ 837.44 million by 2031, exhibiting a CAGR of 26.1% during 2023-2031.

Key players operating in the Asia Pacific extended detection and response market are Broadcom Inc, Palo Alto Networks Inc, Microsoft Corp, Sophos Ltd, Cisco Systems Inc, International Business Machines Corp, Check Point Software Technologies Ltd, Fortinet Inc, and Cybereason Inc, among others.

• In June 2024, Cisco announced new capabilities across the Cisco Security Cloud that extend its security architecture in the age of AI. With Cisco's unified, AI-driven, cross-domain security platform, customers will experience the balance of power tipping in favor of the defenders.
• In November 2021, IBM Security announced an expansion of its cybersecurity threat detection and response capabilities with its plans to acquire ReaQta. ReaQta's endpoint security solutions are designed to leverage AI to automatically identify and manage threats while remaining undetectable to adversaries. This move expanded IBM's capabilities in the extended detection and response (XDR) market, aligning with IBM's strategy to deliver security with an open approach that extends across disparate tools, data and hybrid cloud environments.
  
  

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