South & Central America Extended Detection and Response Market Forecast to 2031 - Regional Analysis - by Component, Deployment, Enterprise Size, and End User

The South & Central America extended detection and response market was valued at US$ 35.31 million in 2023 and is expected to reach US$ 137.56 million by 2031; it is estimated to record a CAGR of 18.5% from 2023 to 2031.

Increasing Adoption of Managed XDR Fuels South & Central America Extended Detection and Response Market

Managed XDR refers to a service model that provides a subscription-based XDR capability delivered by a third-party provider. Organizations looking to add XDR value to their current security teams and solutions will find managed XDR solutions appealing. Organizations using Managed XDR (MXDR) solutions can benefit from lower complexity, cost, and risk associated with outsourcing in addition to the advantages of XDR, such as enhanced visibility, detection, and reaction. In order to improve security results, managed XDR solutions will also give users access to professional advice, best practices, and threat intelligence. In addition, key companies in the market are increasingly engaging themselves in various strategic decisions such as product launches and partnerships. For instance, in May 2024, Sekuro launched a managed extended detection and response (XDR) platform, offering sovereign architecture and adaptive intelligence. In May 2024, Noventiq achieved Microsoft-verified MXDR solution status. By achieving this status, Noventiq has proven its robust MXDR services, including a security operations center (SOC) with 24/7/365 proactive hunting, monitoring, and response capabilities, all built on tight integrations with the Microsoft Security platform. Similarly, in June 2023, Critical Start announced the launch of its new managed XDR offering, which unifies Critical Start's award-winning MDR service with a cloud-delivered collection, storage, and search platform for security-relevant log sources. In December 2023, BlackBerry Limited announced an update to its BlackBerry Guard MDR service to deliver MXDR service. Thus, the increasing adoption of MXDR is expected to provide lucrative opportunities for the players operating in the extended detection and response market growth in the coming years.

South & Central America Extended Detection and Response Market Overview

The South & Central America extended detection and response market consists of Brazil, Argentina, and the Rest of South & Central America. The region is widely adopting digital revolutions in various sectors such as BFSI, automotive, IT & telecom, and manufacturing. The region is inclined toward the adoption of solutions that reduce operational costs, minimize downtime, and enhance overall productivity and IT security. The growing digitalization is driving the extended detection and response market in SAM. In addition, the growing concern over cyberattacks drives the adoption of extended detection and response solutions by SMEs and large enterprises across wide industries.

South & Central America Extended Detection and Response Market Segmentation

The South & Central America extended detection and response market is segmented based on component, deployment, enterprise size, end user, and country. Based on component, the South & Central 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 South & Central 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 South & Central 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 South & Central 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 South & Central America extended detection and response market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America extended detection and response market share in 2023.

Broadcom Inc, Palo Alto Networks 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 South & Central America extended detection and response market.

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