Incident Response Market Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2027
The incident
response market size is projected to reach USD 60.60 Billion, from USD
16.04 Billion in 2019, exhibiting a CAGR of 17.9% through 2027, according to a
new report by Reports and Data. The rising incidence of security breaches,
cyber terrorism, money laundering, hacking, identity theft, and others across
enterprises is fuelling the demand for incident response solutions to combat
these attacks.
Incident response solutions refer to an organized set of
approaches and procedures that need to be followed in cases of cybersecurity
attacks. The solutions offer capabilities for case management, automation,
intelligence, and orchestration into a single platform, thereby assisting
security teams in assessing, measuring, and improving the management.
Organizations are rapidly taking up incident response solutions as a measure to
monitor networks & endpoints for avoiding fraudulent activities and
advanced intrusions.
In 2019, cyberattacks on IoT devices experienced a 300%
increase due to the large-scale adoption of IoT in combination with outdated IT
firmware and architectures. The rise in the number of corporations experience
security breaches annually as a result of social media hackings will boost
incident response market growth. Moreover, the growing trend of BYOD in small
and large organizations will further foster market revenue over the forecast
period.
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Key participants
include
Rapid7 (US), Symantec (US), McAfee (US), FireEye (US), IBM
(US), Palo Alto Networks (US), Check Point Software Technologies (Israel), BAE
Systems (UK), Cisco (US), Verizon (US), CrowdStrike (US), Trustwave (US), Dell
(US), Optiv (US), NTT Security (Germany), LogRhythm (US), Swimlane (US),
Resolve Systems (US), Kudelski Security (US), Carbon Black (US), RiskIQ (US),
AlienVault (US), Paladion Networks (US), Accenture (Ireland), Coalfire (US),
and Kaspersky Lab (Russia), among others.
Further key
findings from the report suggest
On the basis of deployment type, the cloud deployment
segment is expected to showcase a growth rate of 13.1% through 2027.
On the basis of security type, the network security and
cloud security segment is estimated to contribute major revenue to the global
incident response market share, delivering a CAGR of 12.9% through 2017. The
robust growth can be attributed to the excessive use of cloud, tablets, and
mobiles globally, making them more prone to cyber-attacks and network hacking.
Based on components, the services segment is likely to hold
a major chunk of the global incident response market share and will exhibit a
CAGR of 12.8% through 2027. The robust growth can be attributed to the surging
need for assessment and response services across various industries to detect
and respond to the network & data security breaches.
Based on application, the IT and telecom segment is set to
grow at 13.3% over the projected timeframe on account of extensive deployment
of advanced technologies like IoT, BYOD, big data, and cloud computing, along
with devices like desktops, laptops, and smartphones in the sector.
In terms of region, Europe is estimated to exhibit a growth
rate of 16.9% during the forecast period.
North America accounted for USD 4.8 Billion of the global
incident response market revenue in 2018 and is estimated to witness major
growth, being a developed and economically strong region that has enormous
confidential data more prone to security attacks.
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For this report, Reports and Data have segmented into the
global Incident Response market on the basis of resin type, composite phases,
industry vertical, and region:
Security Type Outlook (Revenue, USD Million; 2017–2027)
Web security
Application security
Endpoint security
Network security
Cloud security
Deployment Type Outlook (Revenue, USD Million; 2017–2027)
Cloud
On-Premises
Component Outlook (Revenue, USD Million; 2017–2027)
Solution
Services
Organization Size Outlook (Revenue, USD Million;
2017–2027)
Large Enterprises
Small and
Medium-Sized Enterprises
Industry Vertical Outlook (Revenue, USD Million;
2017-2027)
BFSI
Government
Healthcare and Life
Sciences
Retail and
E-Commerce
Travel and
Hospitality
Manufacturing
IT and
Telecommunication
Others
Regional Outlook (Volume, Kilo Tons; 2018-2028 and
Revenue, USD Million; 2018-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
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