February 24, 2024
Endpoint Detection and Response Market

Endpoint Detection and Response (EDR) Market is expected to be Flourished by Growing Adoption of Cloud-Based Solutions

Endpoint detection and response (EDR) is a category of software that allows organizations visibility into endpoint activities for threat detection and investigation. EDR solutions collect data from endpoint computers like workstations, laptops, or servers and uses that data to identify unusual or suspicious activity that could signal security issues like malware, attackers, or insider threats. Some key capabilities of EDR solutions include continuous monitoring of endpoints, detection of known and unknown threats, investigation tools to analyze alerts and events, and preventing lateral movement of threats within the network. EDR solutions provide real-time endpoint security monitoring and are deployed across many industries like BFSI, IT & telecom, healthcare, retail, government, and others for threat hunting, forensic investigation, and incident response.

The global endpoint detection and response (EDR) Market is estimated to be valued at US$ 3951.89 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Growing adoption of cloud-based EDR solutions across organizations is expected to drive the market growth over the forecast period. Cloud-based EDR solutions provide flexibility, quick deployment, continuous updates, and cost-effective deployment compared to on-premise solutions. Leveraging advanced cloud technologies, cloud EDR solutions enable threat detection and response capabilities from any location via the internet. Additionally, the increasing shift towards remote and hybrid work models post-pandemic has also fueled the demand for cloud-based security solutions like EDR that provide real-time endpoint protection for remote devices accessing the corporate network and data. Furthermore, the rising sophistication of threats as attackers adopt more advanced techniques also requires enhanced visibility and automated response capabilities offered by advanced EDR solutions to effectively detect and respond to both known and unknown threats across heterogeneous IT environments.

Segment Analysis
Endpoint Detection and Response (EDR) solutions help organizations detect threats within their networks in real-time and respond automatically to limit damage. The EDR market has two major segments – on-premise EDR solutions and cloud-based EDR solutions. The cloud-based EDR segment is currently dominating and is expected to grow at a higher pace during the forecast period. Organizations increasingly prefer cloud-based solutions as they offer advantages like easy deployment, scalability, remote management and lower upfront costs.

PEST Analysis
Political: Data privacy laws are getting stricter globally which is driving greater investment in cybersecurity solutions like EDR to protect sensitive data. Various countries have also announced cybersecurity policies and initiatives to bolster national cyber defenses.
Economic: A challenging macroeconomic environment has made organizations prioritize cybersecurity spending to mitigate risks. EDR solutions offer a strong return on investment by enabling faster incident response and remediation.
Social: High-profile ransomware attacks have increased awareness about cyber threats. Organizations face reputational risks if breaches are not prevented or detected quickly, driving demand for advanced security tools.
Technological: Emerging technologies like AI, machine learning, cloud computing and 5G networks have created new vulnerabilities that traditional anti-virus products cannot address. This has increased relevance of network-based, behavior-focused EDR solutions.

Key Takeaways
The Global Endpoint Detection And Response (EDR) Market Size is expected to witness high growth over the forecast period between 2024 to 2031 driven by increasing spending on cybersecurity and stricter compliance mandates.

Regional analysis shows that North America currently dominates the EDR market owing to stringent data protection laws and high technology adoption rates. The Asia Pacific region is anticipated to experience the fastest growth aided by strong economic growth and growing digitization across industries in major countries.

Regional analysis related content comprises
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’s 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