At 18.5% CAGR, South & Central America Extended Detection and Response Market is Projected to be Worth US$ 137.56 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America extended detection and response market was valued at US$ 35.31 million in 2023 and is expected to reach US$ 137.56 million by 2031, registering a CAGR of 18.5% from 2023 to 2031. Integration with Advanced Technologies such as Machine Learning and Artificial Intelligence and increasing complexity of business processes are among the critical factors attributed to the South & Central America extended detection and response market expansion.

Cybersecurity is undergoing a revolution with technologies such as artificial intelligence (AI) and machine learning (ML). AI and ML can significantly enhance threat detection and response by analyzing large amounts of data at high speed and identifying patterns and anomalies that may indicate a cyber threat. These technologies enable predictive analytics, allowing security teams to anticipate and mitigate potential threats before they materialize. As AI and ML algorithms become more sophisticated, XDR solutions will offer even greater accuracy and efficiency in detecting and responding to complex cyber threats. In addition, organizations worldwide are increasingly launching AI-driven extended detection and response solutions in order to remain in the competition. For instance, in March 2024, HiddenLayer announced the launch of AI Detection & Response for Generative AI. HiddenLayer's AI Detection & Response for Generative AI provides a set of security controls that enable real-time monitoring, detection, and response to threats specific to LLMs. Similarly, in March 2024, Trellix announced the launch of Trellix Wise, a powerful suite of traditional and Generative Artificial Intelligence (GenAI) tools to reduce cyber risk drastically. Trellix Wise extends across the Trellix XDR Platform to discover and neutralize threats more efficiently while lowering security operations costs. The AI-driven platform automates workflows, delivering increased analyst efficiencies and improved threat prevention, detection, investigation, and remediation.

Thus, AI and ML have become disruptive technologies in the extended detection and response market, improving cybersecurity, threat detection, and response capabilities. As the threat landscape changes, the use of AI and ML in XDR is expected to grow in the coming years.

On the contrary, integration and interoperability issues hampers the growth of South & Central America extended detection and response market.

Based on component, the South & Central America extended detection and response market is bifurcated into software and services. The software segment held 81.3% market share in 2023, amassing US$ 28.72 million. It is projected to garner US$ 113.86 million by 2031 to register 18.8% CAGR during 2023-2031.

In terms of deployment, the South & Central America extended detection and response market is bifurcated into cloud and on-premises. The cloud segment held 66.4% share of South & Central America extended detection and response market in 2023, amassing US$ 23.46 million. It is projected to garner US$ 96.96 million by 2031 to expand at 19.4% CAGR during 2023-2031.

In terms of enterprise size, the South & Central America extended detection and response market is bifurcated into large enterprises and SMEs. The large enterprises segment held 75.1% share of South & Central America extended detection and response market in 2023, amassing US$ 26.53 million. It is projected to garner US$ 106.36 million by 2031 to expand at 19.0% CAGR during 2023-2031.

In terms of end user, the South & Central America extended detection and response market is segmented into IT & Telecom, BFSI, healthcare, retail and Ecommerce, manufacturing, and others. The IT & Telecom segment held 27.8% share of South & Central America extended detection and response market in 2023, amassing US$ 9.83 million. It is projected to garner US$ 38.05 million by 2031 to expand at 18.4% CAGR during 2023-2031.

Based on country, the South & Central America extended detection and response market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 67.4% share of South & Central America extended detection and response market in 2023. It was assessed at US$ 23.80 million in 2023 and is likely to hit US$ 97.33 million by 2031, exhibiting a CAGR of 19.2% during 2023-2031.

Key players operating in the South & Central America 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 July 2021, Cybereason, the leader in operation-centric attack protection, announced the acquisition of empow, a security analytics company based in Tel Aviv. The empow acquisition adds innovative predictive response technology, a library of out-of-the-box data integrations, and top-tier engineering and product talent. These capabilities will be incorporated into the Cybereason XDR offerings to further deliver on the company's mission to end cyber-attacks on the endpoint across the enterprise, to everywhere the battle is taking place.
• In September 2022, Check Point Software Technologies Ltd. announced the launch of Check Point Horizon - the industry-leading prevention-focused suite of security operations solutions and services that combines proactive management solutions for Managed Prevention and Response (MDR/MPR), Extended Prevention and Response (XDR/XPR) and Events. All are powered at the click of a button and supported by the industry's top analysts, research experts and innovative AI technology.

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