Blockchain Press Releases
Extended Detection and Response Market worth $8.8 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 5, 2023 /PRNewswire/ — As businesses place a higher priority on comprehensive security solutions, the Extended Detection and Response (XDR) sector has a bright future. The future of XDR will be shaped by the convergence with SOAR, sophisticated analytics, integration with cloud security, and emphasis on privacy, allowing organisations to improve their cybersecurity capabilities and successfully counter new threats.
The global Extended Detection and Response Market size is projected to grow from USD 1.7 billion in 2023 to USD 8.8 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 38.4% during the forecast period, according to a new report by MarketsandMarkets™. Increasing cyberattacks have heightened the need for XDR solutions. Organizations are increasingly transitioning from point solutions to XDR solutions as XDR provides visibility across critical data sources, including endpoint, network, cloud, email, identity, IoT/OT, and others, to detect and respond to threats often missed by individual point solutions.
Browse in-depth TOC on “Extended Detection and Response Market“
290 – Tables
51 – Figures
280 – Pages
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Based on offerings, the services segment to grow at a higher CAGR during the forecast period
The services segment by offering would grow with the highest CAGR during the forecast period. The services segment has witnessed tremendous growth. Small and large enterprises increasingly rely on XDR providers to respond to cybersecurity incidents and threats. Financial services, healthcare, and eCommerce verticals have witnessed huge data losses due to security breaches. Enterprises are still flourishing in the development of skilled cybersecurity professionals. Therefore, they highly depend on XDR services to strengthen their cybersecurity capabilities. SMEs look forward to adopting managed XDR services in the future.
Based on verticals, the BFSI segment holds the largest market size during the forecast period.
Banks and financial institutes are prime targets for cyberattacks due to the valuable financial and personal information they possess. To enhance their security posture, many banks are adopting XDR solutions. XDR provides a holistic view of the threat landscape and enables banks to detect various threats across various attack vectors, including malware, phishing attempts, account takeovers, insider threats, and sophisticated targeted attacks. Thus, the BFSI vertical holds the largest market size during the forecast period. Some vendors in the market who cater to the BFSI industry are Trend Micro, Microsoft, Bitdefender, Palo Alto Networks, and CrowdStrike, among others.
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Based on regions, Asia Pacific expects to grow at the highest CAGR during the forecast period.
Asia Pacific is home to diverse economies and rapidly growing digital infrastructure and the region faces unique cybersecurity challenges. In this dynamic region, XDR solutions offer a comprehensive threat detection, response, and remediation approach across multiple endpoints, networks, and cloud environments. Asia Pacific countries are undergoing rapid digital transformation, with increased adoption of cloud services, mobile devices, and IoT technologies. XDR provides holistic visibility across these digital assets, enabling organizations to secure their expanding attack surfaces.
Top Key Companies in Extended Detection and Response Market:
The XDR market includes analysis of globally established players, such as Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Cybereason (US), Elastic (US), Fortinet (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Barracuda Networks (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), VMware (US), Cynet (US), LMNTRIX (US), Stella Cyber (US), and Confluera (US).
Recent Developments
- In April 2023, CrowdStrike (US) launched CrowdStrike Falcon Insight for IoT. It is the first and only EDR/XDR solution for Extended Internet of Things (XIoT) assets worldwide. It provides robust threat detection, tailored threat prevention, custom policy recommendations, rapid response, interoperability with mission-critical XIoT assets, and deep integrations with CrowdStrike Alliance and XIoT partners.
- In February 2023, Trend Micro (Japan) partnered with LogRhythm (US). With this partnership, Trend Micro and LogRhythm integrate their SIEM and XDR platforms to enable security teams to pull threat data from multiple sources, correlate it, and respond automatically to potential threats.
- In May 2022, Microsoft (US) announced the general availability of the Microsoft Defender for business. With this offering, SMBs can leverage enterprise-grade endpoint security, including endpoint detection and response capabilities, to safeguard against ransomware and other sophisticated cyber threats.
- In April 2022, Bitdefender (Romania) launched a native XDR solution named GravityZone XDR, designed to provide rich security context, correlation of disparate alerts, and out-of-the-box analytics. The product has features such as rapid cross-correlation threat detection, automated threat identification & prioritization, and recommended threat response actions.
- In January 2022, Palo Alto Networks (US) and KPMG (Netherlands) partnered to provide cybersecurity services to businesses in India. They aim to offer Managed Security Services (MSS) using Palo Alto Networks’ Cortextm XDR and XSOAR security platforms. These services include Zero Trust and multi-cloud cybersecurity solutions.
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Extended Detection and Response Market Advantages:
- A comprehensive picture of an organization’s whole IT environment, including endpoints, networks, cloud services, and apps, is provided by XDR. More thorough threat detection and quicker incident response are made possible by XDR’s collection and correlation of data from many sources. It improves insight into advanced threats by assisting in the identification and correlation of suspicious behaviours across various IT infrastructure levels.
- By combining data from several security platforms and technologies into a single console, XDR solutions centralise security operations. This centralised method simplifies management of several tools, increases efficiency, and streamlines security operations. Security teams may undertake cross-platform analysis, get a single perspective of security incidents, and react to threats more skillfully.
- By automating the detection, investigation, and remediation procedures, XDR provides quicker incident response. When a threat is identified, XDR can quickly start responding by blocking malicious IP addresses, quarantining suspicious files, or isolating affected endpoints. The dwell time of attackers within the network is decreased thanks to this proactive approach’s ability to contain and neutralise threats before they may do major harm.
- The XDR solutions can scale and adapt to the shifting security landscape. All sizes of enterprises can use them, and they can support a variety of IT configurations, including on-premises infrastructure, cloud services, and hybrid environments. Because XDR can communicate with security products that are already in use, such as endpoint protection systems, SIEM programmes, and threat intelligence feeds, a flexible and extensible security architecture is made feasible.
- The entire IT environment, including endpoints, servers, networks, cloud services, and apps, is completely visible thanks to XDR. Security teams can find potential attack pathways that may have been overlooked by individual security technologies and detect attacks that may cross various platforms thanks to this insight.
- By combining several security tools and features onto a single platform, XDR streamlines security operations. This makes it simpler for security teams to monitor, examine, and respond to security problems because the complexity involved with managing and integrating numerous point solutions is reduced.
- To improve threat detection and response capabilities, XDR makes use of data and real-time threat intelligence feeds from a variety of sources. Organisations can proactively fight against new attack methods thanks to XDR’s ability to quickly identify emerging threats and deliver timely notifications thanks to its ongoing vigilance over threat intelligence.
- To find abnormalities and patterns suggestive of future security events, XDR employs advanced analytics and behavioural analysis approaches. XDR may identify suspicious activity and indicators of compromise by benchmarking typical behaviour and spotting deviations, which enables organisations to detect threats more quickly and more effectively.
Report Objectives
- To define, describe, and forecast the XDR market based on offerings, deployment mode, organization size, verticals, and regions
- To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America
- To analyze the subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
- To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the XDR market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the XDR market
- To profile the key players of the XDR market and comprehensively analyze their market size and core competencies.
- To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global XDR market.
Browse Adjacent Market: Information Security Market Research Reports & Consulting
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Digital Evidence Management Market – Global Forecast to 2028
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Blockchain
Blocks & Headlines: Today in Blockchain (Ethereum, Quantum Emotions, Pepeto, Zeus Investments, AgileGTM)
Ethereum’s Challenges Highlight the Importance of Blockchain Integrity
Ethereum, once hailed as the undisputed king of smart contract platforms, is facing mounting criticism over scalability issues and increasing centralization concerns. Critics argue that Ethereum’s looming challenges serve as a cautionary tale about the importance of maintaining blockchain integrity in the pursuit of innovation.
The network’s shift to proof-of-stake has introduced debates about validator centralization and network control. As transaction fees remain high and competition from newer blockchains intensifies, Ethereum’s journey underscores the delicate balance between growth and decentralization in the blockchain ecosystem.
Source: Bitcoin Magazine
Quantum Emotions Introduces Revolutionary Quantum Wallet
Quantum Emotions, a pioneering quantum technology firm, has unveiled its groundbreaking quantum wallet designed to provide unprecedented security for blockchain users. Leveraging quantum random number generators, the wallet ensures ultra-secure private key management and protection against emerging quantum threats.
As the blockchain industry prepares for a quantum computing era, innovations like this wallet highlight the need to future-proof digital assets. Quantum Emotions’ solution is a step forward in safeguarding the integrity of blockchain transactions in an increasingly complex technological landscape.
Source: Finance Yahoo
Pepeto Simplifies Cross-Chain Trading for Blockchain Users
Pepeto, a trailblazer in the blockchain space, is revolutionizing cross-chain trading with its user-friendly platform. By simplifying blockchain transfers across different networks, Pepeto addresses a significant pain point for users navigating the complexities of decentralized finance (DeFi).
The platform’s intuitive interface and efficient protocols enable seamless asset transfers while reducing transaction costs and processing times. As interoperability becomes a crucial factor in the blockchain sector, Pepeto’s innovation is set to reshape how users interact with decentralized ecosystems.
Source: Bitcoinist
Zeus Investments Launches Blockchain Research Division
Zeus Investments has announced the launch of its dedicated blockchain research division, aimed at driving innovation and identifying strategic opportunities in the blockchain sector. The division will focus on exploring emerging technologies, evaluating market trends, and fostering partnerships with industry leaders.
By committing resources to blockchain research, Zeus Investments signals its belief in the transformative potential of decentralized technologies. This initiative underscores the growing interest among traditional financial institutions in harnessing blockchain’s disruptive capabilities.
Source: Finance Yahoo
AgileGTM Blockchain Fund Secures $2M in First Close of $10M VC Fund
AgileGTM has achieved a significant milestone by securing $2 million in the first close of its $10 million pan-European blockchain venture capital fund. The fund aims to support early-stage blockchain startups across Europe, focusing on innovative solutions in areas such as DeFi, NFTs, and enterprise applications.
This development highlights the increasing appetite for blockchain investment and the role of venture capital in accelerating the growth of the industry. AgileGTM’s initiative reflects the potential for blockchain to drive economic transformation and innovation across diverse sectors.
Source: Tech.eu
The post Blocks & Headlines: Today in Blockchain (Ethereum, Quantum Emotions, Pepeto, Zeus Investments, AgileGTM) appeared first on News, Events, Advertising Options.
xPortal, the AI-powered DeFi super-app, has acquired Alphalink, a Berlin-based Web3 startup recognized for delivering delightfully simple crypto experiences through its mobile app. The acquisition marks a major milestone in xPortal’s goal to simplify crypto and financial investing.
With over 2.5 million users and a 4.8-star rating from 70K+ app store reviews, xPortal combines crypto, real-world functionality, and AI into a single, user-friendly mobile app.
xPortal launched in 2023 as the wallet for the MultiversX blockchain (prev. Elrond) and quickly expanded into multi-chain territory, integrating Bitcoin, Ethereum, Solana, Polygon and more.
As part of its growth strategy, xPortal is raising capital in an anticipated oversubscribed round while making a full-scale push into AI, expanding into the U.S. and launching a native token to its ecosystem
Active xPortal users will also benefit from lucrative opportunities that will further fuel the ecosystem.
Empowered Leadership
Through the acquisition, xPortal brings seasoned FinTech and crypto innovators Marko Bradic as Co-founder and Chief Product Officer (CPO) and Mohit Tilwani as Co-founder and Chief Technology Officer (CTO) to complement the dream team together with Sergiu Biris, Co-founder and CEO of xPortal.
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Marko Bradic (ex-CEO of Alphalink) previously scaled Trade Republic – the $5B European Robinhood backed by Sequoia – to 4 million users, €180 million in annual revenue, and €35 billion in AUM.
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Mohit Tilwani (ex CTO of Alphalink) brings over a decade of engineering experience to xPortal. Served as the first engineering lead at Trade Republic, he scaled systems to support 8 million customers.
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Sergiu Biris (CEO of xPortal) is a serial entrepreneur with over 20 years of experience. He was the co-founder of LiveRail, a video advertising platform acquired by Facebook (now Meta) in 2014 for $500 million.
“Marko and Mohit’s experience in building and scaling world-class fintech products aligns perfectly with xPortal’s mission to make crypto easy to use and accessible to everyone. Their expertise strengthens our vision of blending crypto and AI with real-world utility. I’m extremely excited about what we’re going to be building together in the years to come.” – Sergiu Biris, Co-founder and CEO of xPortal
Beniamin Mincu, Co-founder and CEO of MultiversX added: “Through the acquisition of Alphalink xPortal is taking a bold step towards the future. One where crypto is merging with AI to deliver the best experiences to everyday users. xPortal started as a core part of MultiversX and, driven by this team of world class founders, is now becoming independent, creating its own story. I believe xPortal is poised to drive global crypto adoption, bringing unparalleled value to its users and the broader Web3 space.”
DeFi to DeFAI: What if your money had Brains?
Leading the paradigm shift from DeFi to DeFAI, xPortal is transforming how users interact with money. Making crypto easy and accessible for everyone, xPortal is building a vertically integrated network of specialized DeFAI agents that work autonomously, simplifying complex user tasks and removing onboarding and engagement friction through seamless chain management.
With features like effortless on-off ramps, cross-chain trading, staking, Web3 dApp integration, and Mastercards for everyday payments, the super-app bridges the gap between crypto and real-world utility.
The post xPortal Acquires Alphalink to Drive Innovation at the Intersection of AI and Crypto appeared first on News, Events, Advertising Options.
Blockchain
Humanity Protocol and Open Campus Partner to Integrate Achievements and Interoperable Credentials for Decentralized Education
Humanity Protocol, the leader in on-chain Proof of Humanity (PoH) and decentralized identity, is thrilled to announce its strategic partnership with Open Campus (EDU), the Web3 education protocol.
This collaboration will redefine digital identity and credentialing for learners, educators, and developers, enabling interoperable, privacy-preserving credentials that can be seamlessly used across decentralized ecosystems.
Humanity Protocol’s Self-Sovereign Identity (SSI) framework and Proof of Humanity (PoH) technology ensure Sybil-resistant, verified human authentication for Web3 applications. Open Campus complements this by empowering users with tools to issue, manage, and utilize education-related credentials through its Open Campus ID and Achievements System.
Together, the two projects aim to unlock a future where identity and educational credentials are secure, interoperable, and privacy-focused.
At the core of this partnership is the integration of Open Campus Achievements and Open Campus ID with Humanity Protocol’s decentralized identity graph. This integration ensures that credentials issued on Open Campus are validated and interoperable, allowing users to showcase their verified educational accomplishments across Web3 platforms.
Key features of the collaboration include:
- Achievement Verification: Open Campus will focus on issuing education-related credentials, such as course completions, certifications, and learning milestones. These Achievements will be authenticated using Humanity Protocol’s verifiable credential (VC) framework, enabling secure and portable credentialing.
- Interoperable Identity: Open Campus ID will integrate with Humanity Protocol’s Proof of Humanity, providing users with privacy-preserving, Sybil-resistant identities. These identities will enable users to leverage their credentials in governance, professional, and educational applications.
The partnership between Humanity Protocol and Open Campus introduces new use cases that benefit learners, educators, and developers. Users can create portable, privacy-preserving portfolios combining Proof of Humanity and verified Open Campus Achievements. These portfolios can be used in professional and academic settings to showcase skills and accomplishments securely.
Learners and educators can leverage their interoperable identities to participate in governance activities on both Humanity Protocol and Open Campus platforms. By tying voting to verified individuals, governance becomes more transparent and fair. dApp developers can build applications that integrate Humanity Protocol’s identity verification with Open Campus’s credentialing, enabling innovations in decentralized education, recruitment, and professional networking.
In addition to technical integration, Humanity Protocol will actively support Open Campus in its ongoing conversations with educational institutions. By providing expertise in decentralized identity and credentialing, Humanity Protocol will help Open Campus establish trust and drive adoption of its Achievements and Open Campus ID among schools, universities, and certification bodies.
This collaboration strengthens the bridge between traditional education systems and the decentralized future. Humanity Protocol’s zkProofers will ensure that all verifications remain privacy-focused. Users will be able to prove their identities and credentials without exposing sensitive personal data, enabling secure and trustworthy interactions in education, governance, and professional contexts. By integrating these privacy-preserving solutions, the partnership ensures that credentials remain both secure and portable across ecosystems.
Terence Kwok, Founder and CEO of Humanity Protocol says: “Our partnership with Open Campus marks a significant milestone in integrating decentralized identity with education. By combining Proof of Humanity with Open Campus Achievements and Open Campus ID, we empower learners and educators to take control of their credentials in a way that is secure, interoperable, and privacy-focused. Humanity Protocol is also proud to support Open Campus in its ongoing conversations with educational institutions, helping to bridge Web3 innovation with traditional education systems.”
Jonah Lau, Head of Open Campus (EDU) and Portfolio Management, Animoca Brand says: “Collaborating with Humanity Protocol enhances the usability and security of Open Campus Achievements and IDs. By integrating with Proof of Humanity, we’re ensuring that learners and educators can seamlessly use their credentials across Web3, paving the way for a more interconnected and equitable decentralized education ecosystem. This partnership positions Open Campus as a leader in Web3 education innovation.”
The post Humanity Protocol and Open Campus Partner to Integrate Achievements and Interoperable Credentials for Decentralized Education appeared first on News, Events, Advertising Options.
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