LONDON, Oct. 17, 2022 /PRNewswire/ -- Global Incident Response Services Market is valued at USD 19.47 Billion in 2021 and expected to reach USD 71.82 Billion by 2028 with a CAGR of 20.5% over the forecast period.
Incident Response Services Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028. Increasing number of cyber-attacks, rising frauds and ransomware events in the healthcare industry, and growing technological advancements are some of the major factors driving the growth of the Global Incident Response Services Market.
Incident Response (IR) Services include analysis of logs, endpoint data, and network traffic and prevention, mitigation, and recovery strategies. They help create, identify, contain, and recover from security events. Nowadays, they have become a key component of the Information Technology (IT) department as IR services help to quickly respond to and mitigate the impact of suspected cyber security breaches. They help reduce recovery time and costs, minimize collateral damage such as brand reputation, and ensure the smooth functioning of business operations.
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Incident Response Services Market: Market Scope
The Global Incident Response Services Market is going to show a great amount of growth in the coming years with the instances and frequency of attacks increasing and the complication of the attacks increasing. There are more organizations who are now trying to prioritize the existence of an incident response team which can help in the mitigation of the impact of the security threats to an organization
The Covid-19 pandemic has shown a positive impact on the growth of the global incident response services market. The rise of the Covid-19 pandemic has prompted hospitals to use incident response systems. The creation of Covid-19 incident response teams, rapid cyber security assessments, and deployment of incident response tools in hospitals have shown a positive impact on the market growth.
Incident Response Services Market: Competitive Analysis
Some of the major players Incident Response Services Market are companies like Cisco, IBM, Symantec, Intel, BAE Systems and Dell. These companies are working hard to come up with the solutions that will help in the mitigation of the risks with the market innovation. This is going to reduce costs and help different companies take up these solutions.
Top Prominent Players
- Honeywell International
- Dell Inc.
- Check Point Software Technologies
- Verizon Communication
- Cisco Systems
- Rapid7
- FireEye
- Intel Corporation
- BAE Systems
- Symantec Corporation
- Others
Incident Response Services Market: Segmentation Analysis
Incident Response Services have been defined as the consultation services wherein a service provider assesses the exposure of risk of the client's systems by conducting activities such as Malware Analysis Network & Endpoint Analysis, Cyber Forensics, Threat Hunting, Communications Support Technology Recovery, to name a few. Additionally, on-demand incident response specialist access (Retainer) is also extended to significantly reduce breach exposure time. The scope of the current publication on the Incident Response Services includes processes such as breach investigation, forensic services, chain-of-custody, examination, and analysis of applications, to name a few, offered by market players.
In terms of segmentation, the BFSI sector is going to be among the major infrastructure sector which is going to suffer the most breaches of data and cyber-attacks because of the larger base of customers which the industry serves as well as the financial information which is going to be at stake. The financial service institutions are identified as the most susceptible to these cyber-attacks. This is going to drive the solutions which are going to be capable of dealing with the crisis event like the security breaches, investigations, and the forensic responses.
The enterprises which are operating in the BFSI sector are now focused on the implementation of the latest technology with an aim of securing their IT systems and processes, securing the critical customer data, while it also complies with the regulations of the government. The growth in the technological capabilities and the regulatory requirements, greater expectations of the customers which has been forcing the enterprises for adopting a defensive and proactive approach to the security of data.
In the BFSI sector, it is the insurance segment which is becoming a major target for the cybercrime due to the huge store of the personally identifiable information about the policy holders.
By Component:
- Services
- Solution
By Service Type:
- Assessment & Response
- Retainer
- Incident Response Planning & Development
- Tabletop Exercises
- Advanced Threat Hunting
- Others
By Security Type:
- Web Security
- Network Security
- Application Security
- Endpoint Security
- Cloud Security
By Deployment Mode:
- On-premises
- Cloud-based
By Enterprise Size:
- Large Enterprises
- Small & Medium-sized Enterprises
By End-Use:
- Healthcare
- IT & Telecom
- Transportation
- BFSI
- Government
- Others
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Incident Response Services Market: Key Trends
Coronavirus period was a new reality for the organizations all across the globe as they are responding very actively to the cyber threats that had witnessed a major spike in the time of the pandemic. The enterprises all over the world to tackle the risks of the cyber world and a secure environment for work from home conditions in the pandemic which created a need for cyber threats to be mitigated.
Incident Response Services Market: Key Drivers
Incident Response Services Market growth is going to be based on the services which are provided by vendors who are following a predefined and organized procedure set and approaches in the cyber-attacks event. This is also known as the cyber incidents, IT incidents and the security incidents. The cyber threats are the attempts which are based out of the damage done to internet or for the disruption of the information systems and hacking the critical information with the use of the spyware and malware along with phishing. The incident response solutions help these enterprises for monitoring the networks and the endpoints for advanced fraudulent and intrusion activities.
The Incident Response Services which are offered by the major players in this market are a different variety of capabilities like the breach investigation, forensic services, and the handling of chain of custody and examination and analysis of the applications, networks, data, and the endpoint systems.
There are many factors like the increase in the number of breaches of security, increase in the regulations of government which are stringent and the compliance requirements of the enterprises, rising levels of sophistication of the cyber-attacks, heavy losses after the occurrences of incidents in addition to a few others which are going to provide a major scope of growth for the market. As the sophistication as well as the frequency of the attacks increase, there are more organizations which are going to prioritize the incident responses which can help in the mitigation of impact of these security threats to the organizations.
Incident Response Services Market: Regional Analysis
Incident response services market regional analysis suggests that the Asia Pacific region is going to be a major target of the cybercriminals from all over the world because of it having a huge population. There is an abundant source of the human capital, and the thefts are targeted primarily at the personally identifiable information. One of the major places where the prominence of cyber attacks has been high has been India. This is because of the relationship it has with China which is the largest source of the actors. It has been suggested through different statistics that over one-third of the cyber attacks are originating from China and the relationship with China has been severe for India and hence there is a growth in the overall market.
There are laws being made all over the region for preventing this. When it comes to the Chinese, there are security features being established by the Cyber Security Law of PRC a few years ago. This also ensures that the institutions in this region share any data when a breach happens within the organizations and there are robust programs which implement the programs. Furthermore, these companies in the non-compliances are at the risk of getting a fine or even the criminal persecution which reduces risks.
On Special Requirement Incident Response Services Market Report is also available for below region:?
North America?
- U.S, Canada
Europe?
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific?
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America?
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa?
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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