Identity Threat Detection and Response (ITDR) Market worth $35.6 billion by 2029- Exclusive Report by MarketsandMarketstm

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 MarketsandMarketstm. 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

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=259116012

Scope of the Report

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.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=259116012

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.

Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=259116012

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

Browse Adjacent Market: Information Security Market Research Reports & Consulting

Browse Other Reports:

Physical Security Information Management Market- Global Forecast to 2029

Operational Technology Security Market- Global Forecast to 2029

Identity Verification Market- Global Forecast to 2028

Cloud Data Security Market- Global Forecast to 2027

Big Data Security Market- Global Forecast to 2026

About MarketsandMarketstm

MarketsandMarketstm has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarketstm.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarketstm INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/identity-threat-detection-and-response-itdr-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source : https://www.marketsandmarkets.com/PressReleases/identity-threat-detection-and-response-itdr.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

SOURCE MarketsandMarkets