LONDON, July 19, 2022 /PRNewswire/ — The Extended Detection and Response (XDR) market segment is set to grow in global revenue by more than 800% in five years, ultimately reaching $3.022bn by the end of 2026, according to the Fundamentals of Comprehensive Extended Detection and Response (CXDR) report, part of Omdia’s Enterprise Cybersecurity Operations (SecOps) Intelligence Service.
With revenue of approximately $364mn in 2021, Omdia projects XDR segment revenue will increase at a compound annual growth rate of more than 56% through 2026. Omdia believes XDR is likely to become the largest single market segment by revenue in SecOps by the end of the decade.
This growth will be fostered by several specific drivers, most notably the need for unified, enterprise-grade cybersecurity threat detection, investigation, and response (TDIR) capabilities across key areas of the IT estate, including endpoints, networks, and cloud environments.
“The reality is that, to date, most enterprise TDIR solutions, including SIEM, SOAR, and even EDR, have largely underperformed, often failing to consistently and quickly identify dangerous, costly cybersecurity threats,” said Eric Parizo, Managing Principal Analyst and Lead Analyst for Omdia’s SecOps Intelligence Service.
“While XDR today remains overlooked, misunderstood, and even derided by some, Omdia believes XDR is the cybersecurity industry’s best hope to empower enterprises with the powerful, innovative technology they need to keep pace with the broad and evolving scope of adversaries they face.”
Developed in 2018 by Omdia Senior Principal Analyst Rik Turner, XDR is an enterprise-grade TDIR solution that offers a guided human-analyst experience across the entire lifecycle, from telemetry gathering and analysis, to alerting and investigation, to remediation-response, validation, and process improvement.
Parizo said CXDR will establish itself as perhaps the most effective way for struggling SecOps programs weighed down by legacy solutions to get a “shot in the arm,” delivering all the contemporary TDIR capabilities that make a real difference in finding and fixing cybersecurity threats quickly and effectively.
Parizo concludes, “Even though CXDR will be a heavy lift for many organizations, it also has the potential to ‘democratize’ enterprise-grade TDIR capabilities, making it possible for organizations of all sizes to effectively defend themselves against cyberthreats.”
Omdia is a leading research and advisory group focused on the technology industry. With clients operating in over 120 countries, Omdia provides market-critical data, analysis, advice, and custom consulting.
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