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Today, CrowdStrike announced the release of CrowdStrike falcon complete XDR, a managed extended detection and response (MXDR) solution built on the CrowdStrike falcon platform. The tool is designed to provide organizations with 24/7 access to threat hunting, monitoring and incident remediation support from a specialist security team. 

CrowdStrike’s MXDR solution provides organizations with access to effective AI-powered automation and threat intelligence, alongside incident detection and response to help short staffed or underfunded security teams secure their organization’s attack surface. 

The announcement comes amid an industry-wide cyber skills gap: Research shows that there was a shortfall of 3.4 million cybersecurity professionals in 2022. 

Doing more with less 

As the cyber skills gap continues alongside an uncertain economic climate, security teams are under significant pressure to do more with less, while cyber attacks continue to increase.  

Managed XDR services provide a strong answer to the current threat landscape by enabling security teams to augment their capabilities by working with an experience third-party security provider on an affordable subscription basis.  

“With managed XDR services, organizations can entrust the implementation, management, response and end-to-end remediation of advanced threats across multiple vendors and attack surfaces — all without the burden, overhead or costs of deploying and managing a 24/7 threat detection and response function on their own,” Tom Etheridge, chief global services officer at CrowdStrike said in the announcement press release. 

The organizations driving the MXDR market  

CrowdStrike is one of the largest vendors in the extended detection and response market, which MarketsandMarkets anticipates will reach a value of over $2.3 billion by 2027. 

One of the organization’s most significant competitors in the market is Trend Micro, which raised $691 million in annual recurring revenue (ARR) last year and offers its own automated XDR solution. 

Trend Micro managed XDR provides 24/7 monitoring for organizations across network, endpoint and cloud workloads, as well as detection investigation and threat hunting support. 

Another key competitor in the market is Blackberry, which estimates raising $656 million in fiscal 2023, and offers its own 24/7/365 managed XDR service called CylanceGUARD. 

CylanceGUARD combines AI-based endpoint protection alongside the continuous authentication and analytics capabilities of CylancePERSONA and device-level threat detection and remediation via CylanceOPTICs to simplify threat detection and response. 

The main differentiator between CrowdStrike and these competitors is the detection rate of the Falcon MDR platform, according to the company and outside researchers. The MITRE engenuity ATT&CK evaluations for security service providers studied 16 MDR providers, and found that CrowdStrike achieved the highest detection coverage at a 99% detection rate.