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Incident Response Global Market to Reach $119.39 Billion by 2030 at a CAGR of 21.3%
Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The "Incident Response Market Size, Share, Trends, By Component, By Organization Size, By Security, By Deployment, By Vertical and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global incident response market size is expected to reach USD 119.39 Billion in 2030 and register a revenue CAGR of 21.3% over the forecast period, according to the latest report. The market is anticipated to witness significant growth on account of the increasing instances of cyber-attacks and data breaches across the globe. The rising number of small and medium enterprises (SMEs) is one of the major factors driving the growth of this market. SMEs are increasingly becoming targets for attackers due to their lack of resources and expertise in cybersecurity.
In recent years, there has been a significant increase in the number of ransomware attacks. Ransomware is a type of malicious software that encrypts data and demands a ransom for the decryption key. These attacks are typically carried out by email phishing or through infected websites. The healthcare sector is one of the most affected sectors by ransomware attacks. In 2017, the WannaCry ransomware attack affected more than 200,000 organizations in 150 countries. This attack highlighted the need for incident response services, especially in the healthcare sector.
Data security and protection are crucial components of any business. Numerous studies have shown that the average cost of a data breach is quite high, and it is only getting higher. A recent study by IBM found that the average cost of a data breach in 2018 was $3.86 million, which is an increase of 6.4% from the previous year.
The increasing adoption of cloud-based solutions and services is one of the major trends being witnessed in the market. Cloud computing provides various benefits such as scalability, flexibility, and cost-effectiveness. These benefits are expected to drive the adoption of cloud-based solutions and services among enterprises. The growing need for real-time data analysis is another trend that is gaining traction in the market. Incident response solutions offer real-time data analysis, which helps organizations to identify and resolve security incidents quickly.
Some Key Highlights from the Report
In March 2021, Check Point Software Technologies Ltd., a leading provider of cyber security solutions globally, announced the completion of its acquisition of Dome9 Security, Inc. The addition of Dome9's Cloud Workload Protection Platform (CWPP) strengthens Check Point's Infinity Architecture with new and industry-leading capabilities to secure multi-cloud environments. The transaction was completed for an aggregate purchase price of $175 million.
Solution segment accounted for larger revenue share in 2020. Incident response solutions enable organizations to manage, contain, and remediate incidents. These solutions offer a centralized platform to collect data from various devices and endpoints across the network. They also provide features such as real-time monitoring, visibility, and analytics to help organizations respond to threats quickly.
Small and medium sized enterprises segment accounted for significantly larger revenue share in 2020 due to need for compliance with stringent government regulations and increasing number of cyber-attacks.
For the purpose of this report, the publisher has segmented the incident response market based on component, organization size, security, deployment, vertical and region:
Component Outlook (Revenue, USD Billion; 2018-2030)
Solutions
Services
Organization Size Outlook (Revenue, USD Billion; 2018-2030)
Security Outlook (Revenue, USD Billion; 2018-2030)
Web Security
Application Security
Endpoint Security
Network Security
Cloud Security
Deployment Outlook (Revenue, USD Billion; 2018-2030)
Cloud
On-Premises
Vertical Outlook (Revenue, USD Billion; 2018-2030)
BFSI
Government
Healthcare and Life Sciences
Retail and e-commerce
Travel and Hospitality
IT and Communication
Others
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Incident Response Market Segmentation & Impact Analysis
Chapter 5. Incident Response Market By Component Insights & Trends
Chapter 6. Incident Response Market By Organization Size Insights & Trends
Chapter 7. Incident Response Market By Security Insights & Trends
Chapter 8. Incident Response Market By Deployment Insights & Trends
Chapter 9. Incident Response Market By Vertical Insights & Trends
Chapter 10. Incident Response Market Regional Outlook
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
Companies Mentioned
Broadcom Inc.
McAfee LLC
Palo Alto Networks
International Business Machines Corporation (IBM)
Cisco Systems Inc.
Check Point Software Technologies Ltd.
BAE Systems Inc.
NTT Inc.
RiskIQ and AT&T Cybersecurity
For more information about this report visit https://www.researchandmarkets.com/r/jnpaiw
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