North America Extended Detection and Response Market Forecast to 2031 - Regional Analysis - by Component (Software and Services), Deployment (Cloud and On-Premises), Enterprise Size (Large Enterprises and SMEs), and End User (IT & Telecom, BFSI, Healthcar

The North America extended detection and response market was valued at US$ 608.27 million in 2023 and is expected to reach US$ 2,859.26 million by 2031; it is estimated to record a CAGR of 21.3% from 2023 to 2031.

Increasing Number of Cyberattacks Fuels North America Extended Detection and Response Market

In recent years, businesses have been facing the continuous threat of cyberattacks. According to Embroker Insurance Services LLC, cyberattacks were considered the fifth top-rated risk in 2020, and cases continue to rise with technological advancements. Computer malware, data breaches, and denial of service (DoS) are a few examples of cyberattacks. During the COVID-19 pandemic, cybercriminals took advantage of misaligned networks as businesses were shifting to remote working environments. According to OneLogin, cybercrime costs more than US$ 1 trillion worldwide, as 37% of organizations were affected by ransomware and 61% were affected by malware attacks in 2020. Between 2019 and 2020, cyberattacks in the US increased by 139% as the country registered 145.2 million cases in Q3 2020. Malware attacks increased by 358% in 2020 compared to 2019. Similarly, according to the Clusit Report, cyberattacks across the globe increased by 10% in 2021 compared to the previous year. The average cost of a cyber breach was US$ 3 trillion in 2015, and it is predicted that this value is expected to reach US$ 10.5 trillion by 2025.

Cyber threats are considered a major concern as various organizations continue to operate in a digital environment. They have severe consequences for individuals, corporations, and governments. The rise in the number of cyberattacks has increased the importance of cybersecurity in safeguarding critical infrastructures and ensuring the safety of individuals and organizations. Organizations are increasingly becoming aware of the need to safeguard their critical assets from unauthorized access and potential breaches. Extended detection and response has emerged as an important solution that companies can adopt to defend against online attacks. Thus, the increasing number of cyberattacks across enterprises drives the growth of the extended detection and response market.

North America Extended Detection and Response Market Overview

The North America extended detection and response market consists of the US, Canada, and Mexico. North America is one of the fastest-growing regions in terms of both technological innovations and the adoption of advanced technologies. The region plays a significant role in the extended detection and response market. The region's expanding IT infrastructure and the accelerated shift to cloud services necessitate advanced security measures. In 2023, North America held the largest market share in the extended detection and response market. Increasing digitalization and rising number of security breaches linked to cyberattacks contribute to the adoption of extended detection and response solutions in the region. Extended detection and response solutions in North America aim to protect organizations from more sophisticated types of cyberattacks. These solutions have detection, investigation, and response capabilities across a range of areas, such as the organization's endpoints, cloud applications and workloads, hybrid identities, email, and data stores.

North America Extended Detection and Response Market Revenue and Forecast to 2031 (US$ Million)

North America Extended Detection and Response Market Segmentation

The North America extended detection and response market is segmented based on component, deployment, enterprise size, end user, and country. Based on component, the North America extended detection and response market is bifurcated into software and services. The software segment held a larger market share in 2023.

In terms of deployment, the North America extended detection and response market is bifurcated into cloud and on-premises. The cloud segment held a larger market share in 2023.

Based on enterprise size, the North America extended detection and response market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.

By end user, the North America extended detection and response market is categorized into IT & Telecom, BFSI, healthcare, retail and Ecommerce, manufacturing, and others. The IT & Telecom segment held the largest market share in 2023.

Based on country, the North America extended detection and response market is segmented into the US, Canada, and Mexico. The US dominated the North America extended detection and response market share in 2023.

Broadcom Inc, Palo Alto Networks Inc, SentinelOne Inc, Microsoft Corp, Sophos Ltd, Cisco Systems Inc, International Business Machines Corp, Check Point Software Technologies Ltd, Fortinet Inc, and Cybereason Inc are some of the leading players operating in the North America extended detection and response market.

Reasons to buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America extended detection and response market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America extended detection and response market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America extended detection and response market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution. Show more