Incident Response Services Market

Global Incident Response Services Market Size (2024 to 2029)

The global Incident response services market is predicted to reach USD 28.08 billion in 2024 and USD 70.74 billion by 2029, growing at a CAGR of 20.30% during the forecast period.

The increasing investments by market players act as a principal factor promoting the market value of incident response services. One of the major driving factors in the growth of the Incident Response Services market is the rise in the sophistication level of cyber-attacks worldwide. Heavy financial losses after incidents are another major growth factor. Stringent government regulations and compliance requirements are another crucial element promoting the revenue of the global Incident Response Services industry.

Financial constraints are one of the major challenges affecting the growth of the global Incident Response Services market. Another major limitation to the market's growth is the high innovation costs. The lack of competent security professionals to handle challenging security incidents and the availability of open-source and pirated security solutions are other severe threats to the worldwide Incident Response Services market.

Impact of COVID-19 on the global incident response services market:

The Coronavirus has impacted almost all industries, like manufacturing units, flights, traveling, automotive, and many sectors, to halt their services. This pandemic has affected the business by directly impacting production, disrupting the supply chain, and creating financial hurdles. Due to COVID-19, the Incident Response Services market is estimated to have a positive impact with the increasing trend of digitization and work-from-home in the IT sector. Industry experts predict that the market will develop more in the following years with the increasing investments by the major players. In most countries, the government has lifted the lockdown and permitted companies to resume their businesses with strict rules and regulations. As the companies have started their operations, the market for Incident Response Services will witness more profits soon.

REPORT COVERAGE:

This research report on the global Incident Response Services market is segmented and sub-segmented based on the component, service type, security type, deployment mode, organization size, vertical, and region.

Global Incident Response Services Market - By Component:

• Solutions 

• Services   

The incident Response Services market is segmented into two types: solutions and services. The services segment holds the major share of the market.

Global Incident Response Services Market - By Services Type:

• Retainer   

• Assessment and Response

• Tabletop Exercises

• Incident Response Planning and Development        

• Advanced Threat Hunting 

The incident Response Services market is divided into retainer, assessment and response, tabletop exercises, incident response planning and development, advanced threat hunting, and other services. The assessment and response segment holds a significant market share, among others.

Global Incident Response Services Market - By Security Type:

• Application Security            

• Web Security         

• Endpoint Security

• Network Security 

• Cloud Security       

The Incident Response Services market is separated into web, application, endpoint, network, and cloud security.

Global Incident Response Services Market - By Deployment Mode:

• Cloud        

• On-Premises          

The incident response services market is bifurcated into on-premises and cloud. 

Global Incident Response Services Market - By Organization Size:

• Large Enterprises 

• SMEs         

The Incident Response Services market is segmented into small, medium-sized, and large enterprises.

Global Incident Response Services Market - By Vertical:

• BFSI           

• Government          

• Healthcare and Life Sciences           

• Retail and E-Commerce     

• Travel and Hospitality         

• Manufacturing      

• IT and Telecommunication

The incident Response Services market is divided into banking, financial services and insurance, government, healthcare and life sciences, retail and e-commerce, travel and hospitality, manufacturing, IT and telecommunication, and other verticals.

Global Incident Response Services Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America holds a significant share of the market, that can be attributed to the increasing need for organizations to reduce the misuse of the internet and enhance their employees’ productivity, addressing incidents of attacks on IT infrastructure in nations like the United States. The Asia Pacific region is foreseen to have the second-largest market share owing to rapid growth in the major countries, regulatory reforms, and economic stability in countries like India, China, Japan, etc. The Europe region also has a good market share following the Asia Pacific and North America due to the vast investments by companies in research and development for new technological advancements in the industry. Latin America, the Middle East, and Africa should also witness considerable growth in this market in the coming years.

KEY MARKET PARTICIPANTS:

The major companies operating in the global incident response services market include Resolve Systems (US), Kudelski Security (US), Swimlane (US), LogRhythm (US), Carbon Black (US), IBM (US), Cisco (US), RiskIQ (US), Accenture (Ireland), AlienVault (US), Kaspersky Lab (Russia), Check Point Software Technologies (Israel), BAE Systems (UK), Rapid7 (US), Symantec (US), McAfee (US), Palo Alto Networks (US), FireEye (US), Dell (US), Verizon (US), CrowdStrike (US), Optiv (US), Trustwave (US), NTT Security (Germany), Paladion Networks (US), and Coalfire (US) 

RECENT HAPPENINGS IN THE MARKET:

• In April 2018, Symantec announced the upgrade of its powerful threat detection technology, which was used by its own world-class research teams and is now available to advanced threat protection customers.

• In April 2018, McAfee collaborated with Security, a security orchestration automation and response space leader, to integrate their incident response platform with McAfee's enterprise security manager. This enables customers to identify and endorse threats to their information with the increasing and sophisticated cyber threats. 

• In April 2018, Dell ASA acquired Fortscale, a pioneer in embedded behavioral analytics, to provide customers with new UEBA capabilities through the RSA NetWitness platform.