Incident Response Global Market Sees Growth Rate Of 22% Through 2022
3 Aug, 2022
The global incident response market size 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 global incident response market size is expected to grow to $59.85 billion in 2026 at a CAGR of 19.6%.
What is the Global Incident Response Market?
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.
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What drives the Global Incident Response Market?
An increase in cyberattacks 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 cyberattacks are leading to boosting the growth of the incident response global 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 cyberattacks is expected to propel the growth of the incident response global market going forward.
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Global Incident Response Market Segments
The global incident response market is segmented:
By Component: Solution, Services
By Deployment Mode: Cloud, On-Premise
By Organization Size: Small and Medium-Sized Enterprise, Large Enterprises
By Security Type: Web Security, Application Security, Endpoint Security, Network Security, Cloud Security
By Vertical: Government, Healthcare and Life Sciences, Retail and Ecommerce, Travel and Hospitality, Manufacturing, Telecom and IT, Others
By Geography: The regions covered in the incident response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Incident Response Global Market Report 2022provides market size and growth forecasts for the global incident response market, global incident response market share, incident response market segments and geographies, incident response market competitive landscape including leading competitors’ revenues, profiles and market shares. The incident response market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Incident Response Industry Playersinclude Rapid7, McAfee Corp., FireEye, Palo Alto Networks Inc., IBM, Check Point Software Technologies, Cisco Systems Inc., BAE Systems plc, Verizon Communications Inc., CrowdStrike Holdings Inc., Optiv Security Inc., Trustwave Holdings, NTT Security, Resolve Systems LLC, Kudelski Security, and RiskIQ. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.