The rise in security breaches with increasing incidences of money laundering, cyber terrorism, fraud, hacking, and identity theft across enterprises, is stimulating market growth.Market Size – USD 16.04 Billion in 2019, Market Growth - CAGR of 17.9%, Market Trends – Increasing growth of IoT, big data, cloud computing, and BYOD.The Incident Response Market size is projected to reach USD 60.60 Billion, from USD 16.04 Billion in 2019, exhibiting a CAGR of 17.9% through 2027, according to a new report by Reports and Data.
The rising incidence of security breaches, cyber terrorism, money laundering, hacking, identity theft, and others across enterprises is fuelling the demand for incident response solutions to combat these attacks.Incident response solutions refer to an organized set of approaches and procedures that need to be followed in cases of cybersecurity attacks.
The solutions offer capabilities for case management, automation, intelligence, and orchestration into a single platform, thereby assisting security teams in assessing, measuring, and improving the management.
Organizations are rapidly taking up incident response solutions as a measure to monitor networks & endpoints for avoiding fraudulent activities and advanced intrusions.In 2019, cyberattacks on IoT devices experienced a 300% increase due to the large-scale adoption of IoT in combination with outdated IT firmware and architectures.
Moreover, the growing trend of BYOD in small and large organizations will further foster market revenue over the forecast period.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1076Key players in the global incident response market are Rapid7 (US), Symantec (US), McAfee (US), FireEye (US), IBM (US), Palo Alto Networks (US), Check Point Software Technologies (Israel), BAE Systems (UK), Cisco (US), Verizon (US), CrowdStrike (US), Trustwave (US), Dell (US), Optiv (US), NTT Security (Germany), LogRhythm (US), Swimlane (US), Resolve Systems (US), Kudelski Security (US), Carbon Black (US), RiskIQ (US), AlienVault (US), Paladion Networks (US), Accenture (Ireland), Coalfire (US), and Kaspersky Lab (Russia), among others.Further key findings from the report suggestOn the basis of deployment type, the cloud deployment segment is expected to showcase a growth rate of 13.1% through 2027.On the basis of security type, the network security and cloud security segment is estimated to contribute major revenue to the global incident response market share, delivering a CAGR of 12.9% through 2017.
The robust growth can be attributed to the excessive use of cloud, tablets, and mobiles globally, making them more prone to cyber-attacks and network hacking.Based on components, the services segment is likely to hold a major chunk of the global incident response market share and will exhibit a CAGR of 12.8% through 2027.