CHICAGO, May 10, 2024
/PRNewswire/ -- The growing need for identity-centric security
solutions brought on by an increase in cyberattacks and regulatory
compliance requirements will define the Identity Threat Detection
and Response (ITDR) Market in the future. The growth of ITDR
solutions towards more proactive and autonomous security operations
is being shaped by several major trends, including integration with
IAM platforms, use of AI and ML technologies, and emphasis on UEBA
and Zero Trust security.
The global Identity Threat Detection and Response Market
size is projected to grow from USD 12.8
billion in 2024 to USD 35.6
billion by 2029 at a Compound Annual Growth Rate (CAGR) of
22.6% during the forecast period, according to a new report by
MarketsandMarkets™. The expansion of identity threat detection and
response (ITDR) is propelled by the continuously evolving global
threat landscape and combating threat-targeting identities and
identity systems. ITDR provides response strategies ensuring the
protection of sensitive and confidential data.
Browse in-depth TOC on "Identity Threat Detection and
Response (ITDR) Market"
266 – Tables
48 - Figures
273 – Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2022-2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024-2029
|
Forecast
units
|
Value (USD)
Billion
|
Segments
Covered
|
By offering deployment
mode, organization size, vertical and region
|
Region
covered
|
North America, Europe,
Asia Pacific, Middle East and Africa, and Latin America
|
Companies
covered
|
Microsoft (US), IBM
(US), CrowdStrike (US), Zscaler (US), Tenable (US), Veronis (US),
BeyondTrust (US), CyberArk (US), Proofpoint (US), Quest (US),
Oort(US), Vectra (US), Proficio (US), Qomplx (US), Adaptive Shield
(Israel), Acalvio (US), Authorize (Israel), Illusive (US), Mindfire
(UAE), Rezonate (US), Semperis (US), Sentinelone (US), Silverfort
(Israel), Netwrix (US), Vericlouds (US), Microminder (UK), Quorum
Cyber (UK) and Mix mode (US).
|
Governments worldwide increasingly emphasize the importance of
robust identity threat detection and response (ITDR) solutions to
counter growing cyber threats and safeguard critical
infrastructure. Key initiatives include funding research and
development grants, supporting startups through grants and
incubator programs, and enforcing data privacy regulations like
GDPR and CCPA. They also promote cybersecurity frameworks, critical
infrastructure protection standards, and public awareness
campaigns. Collaboration with the private sector, through
partnerships and procurement policies, further drives ITDR market
growth. These efforts underscore a global recognition of ITDR's
significance in enhancing digital security and compliance with
industry regulations.
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By deployment mode, the cloud segment is expected to
demonstrate the highest growth rate in the Identity Threat
Detection and Response Market during the forecast period.
The Identity Threat Detection and Response (ITDR) Market is
experiencing a notable shift towards cloud-based deployments, which
are projected to dominate in the coming years. Cloud solutions
offer various advantages, including scalability, reduced
infrastructure costs, faster deployment, improved accessibility,
and automatic updates. With businesses increasingly adopting cloud
technologies and prioritizing agility and innovation, cloud-based
ITDR solutions align well with this evolving landscape. The
cybersecurity skills shortage further drives the preference for
cloud solutions, given their built-in automation and ease of
management. While on-premises ITDR
solutions may still be favored in scenarios with stringent data
security requirements, the overall trend favors cloud-based
deployments due to their scalability, agility, and
cost-effectiveness. Cloud providers continue to innovate and
enhance their offerings, making them increasingly attractive to
businesses of all sizes, ultimately shaping the dominance of
cloud-based ITDR in the foreseeable future.
Based on organization size, the SMEs segment is
projected to exhibit the highest growth rate at the highest CAGR
during the forecast period.
The Identity Threat Detection and Response (ITDR) Market is set
for significant growth, particularly among Small and Medium-Sized
Enterprises, driven by several key factors. SMEs face increased
vulnerability due to limited security resources, a growing reliance
on digital tools, and evolving cyber threats. Heightened awareness
of cyber risks and emerging data privacy regulations are pressuring
SMEs to invest in ITDR solutions. The affordability and scalability
of cloud-based ITDR solutions further contribute to SME adoption.
These solutions offer improved threat detection, enhanced user
access control, and simplified compliance management, positioning
SMEs as pivotal drivers of growth in the ITDR market.
Asia Pacific is anticipated
to experience substantial growth with the highest CAGR in the
Identity Threat Detection and Response Market during the forecast
period.
The Identity Threat Detection and Response (ITDR) Market is
experiencing remarkable growth globally, particularly in the
Asia-Pacific region, where it is
projected to witness the highest Compound Annual Growth Rate. This
surge is fueled by several factors specific to the area. APAC's
rapid digital transformation, propelled by adopting cloud
computing, mobile technologies, and e-commerce platforms, creates
an expanded attack surface for cyber threats. Heightened regulatory
focus on data privacy regulations in countries like China, India,
and Australia drives the demand
for robust ITDR solutions to ensure compliance. The emergence of
domestic cybersecurity vendors in APAC and the increasing adoption
of cloud-based ITDR solutions contribute to market growth.
Government initiatives, such as heavy investments in cybersecurity
infrastructure and public-private partnerships, create a supportive
environment for the ITDR market's expansion. Despite facing
challenges like a shortage of skilled cybersecurity professionals,
the APAC region's unique dynamics position it as a key driver of
ITDR market growth. It is crucial in protecting critical
infrastructure and businesses against cyber threats in the digital
age.
Top Key Companies in Identity Threat Detection and
Response (ITDR) Market:
The major players in the Identity Threat Detection and Response
Market are Microsoft (US), IBM (US), CrowdStrike (US), Zscaler
(US), Tenable (US), Veronis (US), BeyondTrust (US), CyberArk (US),
Proofpoint (US), Quest (US), Oort(US), Vectra (US), Proficio (US),
Qomplx (US), Adaptive Shield ( Israel), Acalvio (US), Authomize (Israel), Illusive (US), Mindfire (UAE),
Rezonate (US), Semperis (US), Sentinelone (US), Silverfort
(Israel), Netwrix (US), Vericlouds
(US), Microminder (UK), Quorum Cyber (UK) and Mixmode (US).
Recent Developments
- January 2024 - IBM collaborated
with ASUS to enhance cybersecurity by utilizing AI-powered security
technologies to detect and remediate attacks swiftly. IBM's QRadar
EDR will be integrated directly into ASUS's business hardware,
supported by MDR services from IBM.
- January 2024 - Aembit integrates
its Workload IAM Platform with CrowdStrike Falcon for real-time
security posture assessment, enabling dynamic access policy
enforcement. This collaboration enhances ITDR capabilities,
ensuring secure workload-to-workload access.
- October 2023 - BeyondTrust
partnered with the AWS SaaS Factory team to build their Identity
Security Insights solution as a SaaS offering on AWS. This
collaboration helped BeyondTrust navigate business and technical
decisions for a successful SaaS model launch.
- September 2023 - CyberArk
collaborates with Accenture to deploy CyberArk Privilege Cloud to
enhance PAM solutions. This initiative aims to bolster
cybersecurity defenses by managing and monitoring privileged
access, which is crucial for ITDR. The collaboration leverages
CyberArk's Identity Security Platform, enabling comprehensive
security for identities across various IT environments, aligning
with ITDR principles by securing access and mitigating risks
associated with privileged accounts.
- July 2023 - Microsoft partnered
with CISA by offering expanded cloud logging capabilities at no
additional cost. This initiative directly supports ITDR by
improving detection and response to identity-related threats,
making it easier for organizations to maintain identity integrity
and security through better visibility and monitoring of security
incidents.
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Identity Threat Detection and Response (ITDR) Market
Advantages:
- ITDR solutions assist avoid security breaches and data loss by
enabling organisations to proactively detect and respond in
real-time to identity-related threats such account takeovers,
credential stuffing, and insider threats.
- ITDR solutions assist organisations in strengthening their
security posture and safeguarding sensitive data and assets from
unauthorised access and misuse by continually monitoring user
activities, access patterns, and behaviour across digital channels
and systems.
- Rapid incident response is made possible by ITDR systems, which
immediately notify security teams of potentially dangerous activity
and security issues. This allows the teams to quickly investigate
and neutralise threats to minimise the damage to the
organisation.
- By offering thorough visibility, audit trails, and reporting
capabilities, ITDR solutions help enterprises comply with legal and
regulatory requirements pertaining to identity and access
management, data protection, and cybersecurity.
- ITDR systems with advanced analytics and machine learning
capabilities help minimise noise and false positives, allowing
security professionals to concentrate on real threats and
efficiently prioritise their response efforts.
- Numerous ITDR systems come with easy-to-use dashboards and
interfaces that give security teams the tools and knowledge they
need to effectively monitor, assess, and address identity-related
threats without the need for in-depth training or specialised
knowledge.
- Organisations may take advantage of their investments and
coordinate automated response activities throughout the security
ecosystem by integrating ITDR solutions with pre-existing security
technologies and systems like SIEM, IAM, CASB, and SOAR
platforms.
Report Objectives
- To describe and forecast the global Identity Threat Detection
and Response Market by offering, deployment mode, organization
size, vertical, and region
- To forecast the market size of five central regions:
North America, Europe, Asia
Pacific (APAC), Middle East
and Africa (MEA), and Latin America
- To analyze the subsegments of the market concerning individual
growth trends, prospects, and contributions to the overall
market
- To provide detailed information related to significant factors
(drivers, restraints, opportunities, and challenges) influencing
the growth of the market
- To analyze the opportunities in the market for stakeholders and
provide the competitive landscape details of major players
- To profile the key players of the Identity Threat Detection and
Response Market and comprehensively analyze their market shares and
core competencies
- To track and analyze competitive developments, such as Mergers
and Acquisitions (M&A), new product developments, and
partnerships and collaborations in the market
- To track and analyze the impact of COVID-19 on the Identity
Threat Detection and Response Market
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