The report “Incident Response Market by Component (Solution and Services), Service (Retainer, Assessment and Response, and Planning and Development), Security Type, Organization Size, Deployment Mode, Vertical and Region – Global Forecast to 2023″
The incident response market is expected 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.
Browse 72 market data Tables and 48 Figures spread through 173 Pages and in-depth TOC on “Incident Response “
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The assessment and response segment is estimated to hold the largest market size in the incident response market in 2018
The assessment and response segment is expected to dominate the incident response market in terms of its contribution to the overall market shares, as organizations are deploying assessment and response services to detect and respond against advanced cyber-attacks. It implements a stronger security infrastructure through readiness and response capabilities and evaluate organization’s preparedness to prevent or tackle a cyber-attack.
Cloud deployment segment is expected to grow at a higher CAGR in the global incident response market during the forecast period
Incident response solutions can be deployed on-premises as well as on cloud as per the requirements of businesses. The cloud deployment segment is expected to grow at a higher CAGR in the global incident response market during the forecast period. The cloud deployment mode is preferred for its features, such as improved and enhanced security, lower setup costs, easy accessibility, quicker deployment, high scalability, customizable offerings, more storage space, and ease of maintenance.
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North America is estimated to hold the largest market size in 2018. The increasing need for organizations to reduce the misuse of the internet and enhance their employees’ productivity, and addressing the incidents of attacks on enterprises’ IT infrastructures are expected to drive the incident response market. Furthermore, rapid economic growth in the major countries, along with regulatory reforms and economic stability, is expected to drive the market in Asia Pacific (APAC). In the Middle East and Africa (MEA) region, enterprises in a range of verticals, such as BFSI, government, and manufacturing, are expected to increase their investments in incident response solutions and services.
Security vendors are offering various service types in the incident response market to detect, prevent, and respond to cyber-threats via incident response retainer, assessment and response, tabletop exercises, incident response planning and development, and advanced threat hunting. As the frequency of security breaches has increased over the past 5 years, organizations have increased their IT security investments to protect against advanced threats. However, for many enterprises, including SMEs, these investment costs are a matter of concern. For a strong and advanced security, the cost of innovation is still high. Hence, many organizations view budgetary constraints as a barrier to the adoption of advanced incident response solutions and services.
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