Major players in the incident response market are Rapid7, McAfee Corp. , FireEye, Palo Alto Networks Inc. , IBM, Check Point Software Technologies, Cisco Systems Inc. , BAE Systems plc, Verizon Communications Inc.
New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Incident Response Global Market Report 2022" - https://www.reportlinker.com/p06284145/?utm_source=GNW
, CrowdStrike Holdings Inc., Optiv Security Inc., Trustwave Holdings, NTT Security, Resolve Systems LLC, Kudelski Security, and RiskIQ.
The global incident response market is expected to grow from $24.04 billion in 2021 to $29.21 billion in 2022 at a compound annual growth rate (CAGR) of 21.5%. The incident response market is expected to grow to $59.85 billion in 2026 at a CAGR of 19.6%.
The incident response market consists of sales of incident response services by entities (organizations, sole traders, and partnerships) that are used for handling a cyberattack.Incident response is the process of identifying a data breach quickly and minimizing its effects.
It allows the organization to manage a cyberattack by lowering the damage in terms of costs and recovery time. Incident response also helps the company to reduce the future uncertainties related to a data breach and saves its brand reputation.
The main components of incident response are solutions and services.The incident response services are offerings that respond to a response to hardware events, listen for data requests from other software, or perform automated tasks.
It is created for displaying, accessing, running, or interacting with certain products.The security types involved in incident response are web security, application security, endpoint security, network security, and cloud security which are used by small and medium-sized enterprises and large enterprises through the cloud and on-premise deployment model.
The incident response is used by various verticals such as government, healthcare and life sciences, retail and e-commerce, travel and hospitality, manufacturing, telecom and IT, and others.
North America was the largest region in the incident response market in 2021. The regions covered in the incident response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in cyber-attacks is significantly contributing to the growth of the incident response market.A cyber-attack is an attempt for stealing data, disable the computers, or breach the computer system for launching additional attacks.
It is an attack from cybercriminals against single or multiple networks or computers.The incident response plays an important role in dealing with and recognizing cybersecurity attacks.
So, growing cyber-attacks are leading to boosting the growth of the incident response market. For instance, according to The Economic Times, an India-based business daily newspaper, in 2020, the cyber security cases reported in India were 1.16 million, three times more than in the previous year. Therefore, an increase in cyber-attacks is expected to propel the growth of the incident response market going forward.
Technological advancements are the key trends gaining popularity in the incident response market.Technological advancement is a discovery of knowledge that advances technology.
Major companies operating in the incident response sector are focused on developing new technological solutions to reinforce their position.For instance, in July 2020, McAfee, a US-based computer security software company launched McAfee Enterprise Security Manager (ESM) based on cloud technology.
The new ESM cloud is a cloud-based security and information event management offering that supports the incident response, threat hunting, and incident detection activities of a security operations team. It offers faster security telemetry, uninterrupted system health monitoring, and automatic updates.
In September 2021, Booz Allen Hamilton, a US-based information technology consulting company acquired Tracepoint for an undisclosed amount.Through this acquisition, Booz Allen Hamilton aims to establish a scaled business in the fields of incident response, managed services, and enterprise consulting.
Tracepoint is a US-based provider of incident response and digital forensics services.
The countries covered in the incident response market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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