Incident Response Market To Reach USD 47.7 Billion In 2027 | CAGR 16.1% — Forencis Research

Global Incident Response Market: Key Highlights

• According to the new market research report “Incident Response Market by Deployment Mode (Cloud and On-premise), By Security Type (Network Security, Internet Security, Endpoint Security, Cloud Security, and Application Security), By Component (Solution and Services), by Services (Response Retainer Service, Threat Hunting Service, Planning & Development Service, Tabletop Exercises Service, Assessment Service, Emergency Response service, Retainer Service), By End-User (BFSI, Manufacturing, IT & Telecom, Travel, Media & Entertainment, Government & Legal Services, and Others), By Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027) “the global Incident Response Market is estimated & to reach USD 47.7 Billion in 2027 at a CAGR of 16.1% during forecast period 2019–2027.
• Increasing financial loss is excepted to increase the demand for the incident response market for detection and identification of the attack.
• However, the regular changes in regulatory compliance issues are expected to restrain the growth of the market during the forecast period.

Global Incident Response Market: Key Market Dynamics

• Increasing number of cyber-attack, increasing concerns among enterprises regarding data loss are some other major factors expected to boost the growth of the global incident response market over the forecast period
• However, increasing usage of pirated and free security solutions is expected to restrain the growth of the global incident response market. Also, the high cost of innovation and budget constraints may hamper the market growth to a certain extent.
• Increasing financial losses helps the organization to reduce and control the situations of the cyberattacks, which is projected to increase the growth of the market in the forecast period.
• Regular changes in regulatory compliance where the laws and regulations are mandatory and keep on changing with the time may restrain the growth of the market during the forecast period.

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Global Incident Response Market: Regional Overview

• Asia-Pacific

Asia-Pacific are the most affected in terms of data and security loss which is estimated to be USD 27 Billion. Most of the consumer in Asia-Pacific owes at least one Internet of things (IoT) devices but 81% of the economy is under fear of leakage of data and 71% are worried about being monitored without their consent. The Asia-Pacific companies have experienced the security incident which is anticipated to have loss of SD 1.75 trillion last year due to cyberattack. Moreover, a healthcare organization in the region may incur a loss of up to USD 23.3 million from a cybersecurity incident.

• Europe

The European Union Agency for Cybersecurity (EUAC) has recently published a study on the current evolution of Computer Security Incident Response Teams (CSIRTs) and Incident Response (IR) capabilities in Europe for improving reaction time to security incidents. In 2019, there are more than 414 incidence response teams in Europe from cyberattacks. The European Network and Information Security Agency (ENISA) and the International Organization for Standardization (ISO) have published security guidelines and recovery techniques.

Global Incident Response Market: Key Players Overview

• Cisco Systems, Inc.:

Cisco is the worldwide leader in IT and networking. Cisco System is an American technology company, operating worldwide it is best known for its computer networking products. The company provides Cisco Security Incident Response Services (CSIRS) for increasing the security for networks and also for information security defenses. However, the CSIRS is highly specialized with the Cisco Advisory Security Services, provides a better experience to access and design the incident response approach which helps in reducing cost. Moreover, in 2019 Cisco Security’s open an integrated platform approach to enhance with new zero trust, cloud, endpoint and breach defense capabilities.

• IBM Corporation:

International Business Machines (IBM) is a technology company that provides cloud-based services, cognitive computing, hardware, and software. IBM Security Services provides security protection for the organization to improve and to reduce cyberattacks. Moreover, IBM Security solutions help to adapt incident response and proactively to respond cyber threats. The 2019 Cyber Resilient Organization is the vendor’s fourth annual benchmark study on cyber resilience. Moreover, according to Intelligence Services the leader in The Forrester Wave for Cybersecurity Incident Response Services, IBM X-Force Incident Response was top performing in Q1 of 2019.

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