Incident Response Services Market Forecasting And Sizing During Covid-19

Incident response may be defined as a systematic process of managing and addressing the security attack or violations. The process aims at controlling the situation by limiting the potential damaged caused thereby taking steps to minimize recovery cost and time. Incident response plan is a policy that specifically states what an incident constitutes. In addition, it also provides step by step process that is required to be followed in case of an incident. Growing sophistication of attacks followed by increasing frequency enabled the security professionals to come up with effective services and solutions. Attackers are becoming well funded and organized and are growing in sophistication. Hence incident response plan is necessary for every organization which in turn aims at increasing  respond readiness to various security incidents The global Incident Response Services market is expected to grow at a significant rate during the forecast period from 2017 to 2025 owing to improved return-on-investments, highly sophisticated nature of attacks and rise in enterprise level security breaches.

Global Incident Response Services market has been segmented on the basis of component, security type, deployment type and end user industry. On the basis of component, the market is segmented into solutions and services. On the basis of security type, the market is segmented into web security, endpoint security, database security, application security and cloud security. By organizational size, the market has been segmented into small, medium and large enterprises. In terms of deployment type, the market is segmented into on-premises and cloud deployment. End user industry segment is further segregated into Banking, Financial Services, and Insurance, IT and Telecom, healthcare, manufacturing and retail among others. Trend shows that the enterprises are facing various security issues which are required to be minimized. Hence, rise in security breaches targeting enterprises has lead to the increased adoption of incident response services which in turn is driving the global Incident Response Services market during the forecast period from 2017 to 2025. Improved return on investment followed by increasing sophistication of cyber attacks are other factors boosting the demand of global Incident Response Services market. However, high cost of innovation and budget constraints followed by increase in usage of pirated and free security solutions are acting as restraining factors in the growth of global Incident Response Services market. Increasing demand for next-generation security solutions followed by growing market for Byod and related devices serves as key opportunities for this market.

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Geographically, global Incident Response Services market has been segmented into North America, Europe, Asia Pacific, Middle- East and Africa (MEA) and Latin America. In 2016, North America held the largest share of the Incident Response Services market owing to high adoption of this services and presence of large number of incident response services vendors. The U.S held the largest market revenue share in North America owing to the stringent government regulations followed by increasing adoption of this service. Europe followed North America in the global Incident Response Services market. In addition, Asia Pacific shows a significant and fastest growth in the global Incident Response Services market during the forecast period. The countries in the region are adopting various stringent rules and regulations to minimize cyber security .In addition, it also aimed at bringing about augmented incident response systems that includes implementation of strict cyber security regulations by the government in China. All these factors are expected to increase the demand of Incident Response Services market during the forecast period from 2017- 2025.

The major players operating in the global Incident Response Services market includes Dell Inc. (The U.S.), Check Point Software Technologies Ltd (The U.S Verizon Communication Inc. (The U.S IBM Corporation (The U.S.), Rapid7 Inc. (The U.S), FireEye Inc. (The U.S), Intel Corporation (The U.S), BAE Systems (U.K.),Cisco Systems, Inc. (The U.S.), Symantec Corporation (The U.S.) and Honeywell International, Inc. (The U.S.) among others

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