MarketsandMarkets forecasts the global incident response market size to grow from USD 13.38 billion in 2018 to USD 33.76 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.3%
LONDON, July 19, 2018 /PRNewswire/ -- The stringent government regulations and compliance requirements are driving the global incident response market
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MarketsandMarkets forecasts the global incident response market size to grow from USD 13.38 billion in 2018 to USD 33.76 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.3% during the forecast period. The market is driven by stringent government regulations and compliances requirements, an increasing sophistication level of cyber-attacks, and heavy financial losses post incident occurrence. However, financial constraints and high innovation costs may restrain the growth of the Incident response market.
The incident response retainer service type is expected to hold the largest market size in the incident response market.
The assessment and response service type is estimated to hold the largest market share in 2018.Assessment and response services comprises organization's incident response functions associated with Security Operations Center (SOC) and incident response capabilities to determine what capabilities are required to implement after and incident.
The incident response retainer service type has witnessed a tremendous growth in the recent years, due to the simplicity of operations in both enterprise and consumer domains.
The large enterprises segment is expected to hold a larger market size during the forecast period.
The large enterprises segment is expected to hold a larger market size in the market during 2018–2023.These enterprises are the early adopters of incident response solutions and associated services.
Though large enterprises have the necessary budgets to use on-premises incident response software, they are moving toward the cloud deployment mode to avail benefits, such as increased availability, high scalability, and the low cost of deployment. However, many IT environments and the inability of IT systems to communicate with each other are expected to be the chief reasons for the increased deployment of incident response software and services among large enterprises.
North America is expected to hold the largest market share, whereas Asia Pacific (APAC) to grow at the highest CAGR.
North America is estimated to hold the largest market size and dominate the global Incident response market in 2018.The increasing information security challenges, due to network complexities, along with meeting strict compliance regulations and enhancing employees' productivity, are pushing organizations in North America to adopt incident response solutions.
Asia Pacific (APAC) offers growth opportunities for major vendors in the Incident response market, as countries in this region are investing heavily in deploying incident response solutions and compliance management solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The breakup of the profiles of the primary participants is as follows:
• By Company: Tier 1 – 11%, Tier 2 – 23%, and Tier 3 – 66%
• By Designation: C-level – 61%, Director level – 27%, and Others – 12%
• By Region: North America – 36%, Europe – 24%, APAC – 28%, and RoW – 12%
Key incident response solution and service vendors include Symantec (US), McAfee (US), Palo Alto Networks (US), FireEye (US), IBM (US), Cisco (US), Check Point Software Technologies (Israel), BAE Systems (UK), Rapid7 (US), Dell (US), Verizon (US), CrowdStrike (US), Optiv (US), Trustwave (US), NTT Security (Germany), Resolve Systems (US), Kudelski Security (US), Swimlane (US), LogRhythm (US), Carbon Black (US), RiskIQ (US), Accenture (Ireland), AlienVault (US), Kaspersky Lab (Russia), Paladion Networks (US), and Coalfire (US).
Research Coverage
The research study segments the incident response market by solution, service type, security type, deployment mode, organization size, vertical, and region.Additionally, it includes the factors that are driving the Incident response market, along with the growth opportunities in this market.
It also includes the restraining factors and challenges for the Incident response market. Moreover, the report includes detailed company profiles of the key players offering incident response solutions and services.
The report would help the market leaders/new entrants in the market in the following ways:
1. The report segments the Incident response market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments across regions.
2. The report helps stakeholders understand the pulse of the market, and provides them information about key market drivers, restraints, challenges, and opportunities.
3. The report helps stakeholders understand their competitors better and gain more insights to improve their position in their businesses. The competitive landscape section includes competitor ecosystems, new product developments, partnerships, and mergers and acquisitions.
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