Global Incident Response Services Market is valued at USD 19.47 Billion in 2021 and expected to reach USD 71.82 Billion by 2028 with a CAGR of 20.5% over the forecast period.
Incident Response Services Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028. Increasing number of cyber-attacks, rising frauds and ransomware events in the healthcare industry, and growing technological advancements are some of the major factors driving the growth of the Global Incident Response Services Market.
Incident response (IR) services include analysis of logs, endpoint data, and network traffic and prevention, mitigation, and recovery strategies. They help create, identify, contain, and recover from security events. Nowadays, they have become a key component of the Information Technology (IT) department as IR services help to quickly respond to and mitigate the impact of suspected cyber security breaches. They help reduce recovery time and costs, minimize collateral damage such as brand reputation, and ensure the smooth functioning of business operations.
The Covid-19 pandemic has shown a positive impact on the growth of the global incident response services market. The rise of the Covid-19 pandemic has prompted hospitals to use incident response systems. The creation of Covid-19 incident response teams, rapid cyber security assessments, and deployment of incident response tools in hospitals have shown a positive impact on the market growth.
The global incident response services market is segmented on the component, service type, security type, deployment mode, enterprise size, end-use and region & country level. Based on components, the global incident response services market is segmented into services and solutions. By service type, the global market is segmented into assessment & response, retainer, incident response planning & development, tabletop exercises, advanced threat hunting, and others. By security type, the global incident response services market is segmented into web security, network security, application security, endpoint security, and cloud security. Based on deployment mode, the global market is segmented into on-premises, and cloud-based. By enterprise size, the global market is segmented into large enterprises and small & medium-sized enterprises. By end-use, the global incident response services market is segmented into healthcare, IT & telecom, transportation, BFSI, government, and others.
The regions covered in the global Incident Response Services Market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global incident response services is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global incident response services market report cover prominent players like
Accenture Launched Response Service for AXA XL’s Business Customers Hit by Cyberattacks
On February 10th, 2020; Accenture provided its cyber incident response services to AXA XL's clients to help them respond to and recover from cyber-attacks. In the event of an attack, AXA XL clients had access to Accenture Security's global network of cyber security experts and technology solutions to help resolve cyber incidents. Accenture will provide post-breach security services including incident management and information technology (IT) forensics for AXA XL clients outside the US.
Increasing Number of Cyber-Attacks, Rising Frauds and Ransomware Events in the Healthcare Industry, and Growing Technological Advancements are Driving the Market Growth
One of the major factors driving the growth of the incident response services market is the increasing number of cyber-attacks. An incident response service plan plays an important role in helping IT professionals and employees identify and handle cyber security incidents such as data breaches or cyber-attacks. Thus, the use of technology in organizations leads to increase cyber threats that lead to the disruption of data that requires an efficient plan to mitigate them. Furthermore, hackers carry out serious cyber-attacks on the government sector leading to ransomware attacks compromising many customer data. These types of incidents are driving the growth of the incident response market. For instance; according to CompTIA, on January 11th, 2022; the United States remains the most targeted country, with 46% of global cyber-attacks targeting Americans.
In addition, the rising frauds and ransomware events in the healthcare industry are also supplementing the growth of the incident response services market. Fraud and ransomware events in the healthcare industry can have a far-reaching impact on patient safety, operational effectiveness, and regulatory compliance. As a result, healthcare organizations are adopting incident response services to limit the duration and impact of adverse security and availability events and to improve the organization's resilience to unavoidable security and IT events. This can also be attributed to the growing use of m-health services worldwide. Moreover, the growing technological advancements are also supplementing the incident response services market growth. For instance; on February 10th, 2020; Accenture launched a cyber incident response service to help AXA XL’s clients respond to and recover from cyberattacks. Accenture will provide post-breach security services including incident management and information technology (IT) forensics for AXA XL clients outside the US.
However, the high cost of innovation and budget associated with incident response services may hinder the growth of the global incident response services market. Despite that, increasing demand for next-generation security solutions may create more opportunities for the further growth of the market.
Geographically, North America is expected to dominate the global incident response services market within the forecast period due to the increasing number of cyber-attacks, rising technological advancement, and growing need for organizations to reduce the misuse of the internet in this region. An increasing number of cyber-attacks is driving the growth of the market. For instance; on December 14th, 2021; more than 400 hospitals in North America have been crippled by cyber-attacks. In addition, the rising technological advancements are also supplementing the market growth in this region. For instance; on August 11th, 2020; Datadog launched incident management to unify disparate data, documentation, and collaboration during incident response.
The Asia Pacific is the fastest-growing region in the global incident response services market due to the increasing number of cyber-attacks, and rising adoption of advanced incident response solutions in this region. For instance; according to CISO MAG EC-Council, on September 22nd, 2020; India has been the victim of 1,44,496 cyber-attacks in the last three years.
|2022 - 2028
|Market Size in 2021:
|USD 19.47 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 71.82 Billion
|Tables, Charts & Figures:
|Honeywell International, Dell Inc., Check Point Software Technologies Ltd, Verizon, Communication Inc., Cisco Systems, Inc., Rapid7 Inc., Intel Corporation, BAE Systems, Symantec Corporation, Cynet, SecurityHQ, FireEye Mandiant, Secureworks, Sygnia, Harjavec Group, AT&T, NTT, Trustwave, Verizon, and Others.
|By Component, By Service Type, By Security Type, By Deployment Mode, By Enterprise Size, By End-Use
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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