SecurityWorldMarket

22/05/2024

Identity threat detection market estimated at $35.6 billion by 2029

Northbrook, Il (USA)

The expansion of the identity threat detection and response (ITDR) market is being propelled by the continuously evolving global threat landscape and with it the need to combat threats targeting identities and identity systems. ITDR provides response strategies ensuring the protection of sensitive and confidential data. 

According to the most recent data on the subject published by Marketsandmarkets, this sector is projected to grow from USD 12.8 billion in 2024 to USD 35.6 billion by 2029 at a CAGR of 22.6% over that period.

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 programmes, and enforcing data privacy regulations like GDPR and CCPA. They also promote cyber security 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.

Cloud-based deployments to dominate

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 prioritising agility and innovation, cloud-based ITDR solutions align well with this evolving landscape. The analysts also suggest that the cyber security skills shortage further drives the preference for cloud solutions, given their built-in automation and ease of management. While on-premise ITDR solutions may still be favoured in scenarios with stringent data security requirements, the overall trend favours 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.

Heightened awareness drives the market

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.

Key players

Some of the major players in the identity threat detection and response market and named by the researchers are, Microsoft, IBM, Crowdstrike, Zscaler, Tenable, Veronis, Beyondtrust, Cyberark, Proofpoint, Quest, Oort, Vectra, Profico, Qompix, Adaptive Shield, Acalvio, Authomize, Illusive, Mindfire, Rezonate, Semperis, Sentinelone, Silverfort, Netwrix, Vericlouds, Microminder, Quorum Cyber and Mixmode.


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