eSentire currently has more than 120 customers in over 10 European markets. It also has European operations in London and Cork, Ireland; eSentire’s European sales and marketing teams are based in London, while its regional security operations center (SOC) in Cork works in conjunction with the MSSP’s Canadian SOC.
Furthermore, eSentire has recorded 90 percent bookings growth in Europe over the past two years, according to a prepared statement. eSentire could capitalize on the rising demand for MDR among global organizations as well.
The momentum sounds real — though we don’t know actual revenue or profit figures for the venture-backed MDR provider.
A Closer Look at the Global MDR Market
Global MDR market revenues are projected to increase at a compound annual growth rate (CAGR) of 31.6 percent between 2017 and 2022, industry analyst Reportlinker stated. Key factors that are expected to drive this market’s growth include:
Data Security Mandates: The European Union (EU) General Data Protection Regulation (GDPR) and other data security mandates are leading organizations to invest in MDR services.
Increasing Cyberattacks: Cyberattacks are increasing in size, severity and volume, and as such, organizations are deploying MDR services to keep pace.
Rise in Enterprise Mobility: The Internet of Things (IoT) is driving enterprise mobility; at the same time, organizations are using MDR services to protect their IoT devices against cyber threats.
The global MDR market could be worth nearly $1.7 billion by 2022, Reportlinker indicated. Meanwhile, as the global MDR market grows, eSentire could further expand its European presence.