This Incident Response market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Incident Response market.
Incident Response Market: - An Overview
Incident response is the methodology an organization uses to respond to and manage a cyberattack. An attack or data breach can wreak havoc potentially affecting customers, intellectual property company time and resources, and brand value. An incident response aims to reduce this damage and recover as quickly as possible.
Investigation is also a key component in order to learn from the attack and better prepare for the future. Because many companies today experience a breach at some point in time, a well-developed and robust incident response plan is the best way to protect company.
Impact of COVID-19 Pandemic Outbreak on Incident Response Market
As the global economies are currently facing a critical crisis situation due to the COVID-19 pandemic outbreak. This is also impacting the cyber security as there is an increase in phishing attacks, mal-spams and ransomware attacks, as attackers are using COVID-19 as bait to impersonate brands thereby misleading employees and customers.
This will likely result in more infected personal computers and phones. Not only are businesses being targeted, end users who download COVID-19 related applications are also being tricked into downloading ransomware disguised as legitimate applications.
Historically, the market for incident response has grown by almost 15% globally in the past 5 years. Due to the COVID-19 outbreak, adoption of cyber security solutions is projected to incline by nearly 7%-9% in Q1-Q2 2020. According to K7 Computing, there is a 30% increase in cyber-attacks with 1,756 blocked malicious instances specifically using the Covid-19 theme.
Incident Response Market: - Market Dynamics
Previously, companies only adopted security strategies and approaches to safeguard and maintain critical information integrity. However, due to a sudden rise in cybercrimes and data theft activities, businesses have begun to concentrate on detecting better security approaches for secure information deployed on the cloud as well as on-site and improving the internal security framework.
The companies have experienced cyber-attacks such as phishing, DDoS attacks, and social engineering attacks. Moreover, large organizations worldwide are taking initiatives to implement incident response solutions for their business applications deployed on the cloud as well as on premise, and facilitating other small enterprises to understand the usage of incident response capabilities and Internet security threats.
Demand is increasing for Cloud-Based Security Solution
Increasing the use of cloud-based services for multiple workloads, such as data backups, ERP, CRM, email services, and collaboration services, is anticipated to drive the market growth in the forecast period of the global incident response market.
Moreover, cloud computing raises technology vulnerabilities and makes it easy for unauthorized users to access. As a result, several companies are moving towards cybersecurity strategies to protect their cloud workloads from cyber threat and risks.
Incident Identification Threat is Hindering the Growth of Incident Response Market
Security incidents occur in many forms, which makes their identification difficult. Unusual behavior of a privileged user, unauthorized insider attempting to get access to sensitive data or servers, discrepancies in outgoing network traffic, configuration alteration, and many other incidents go unnoticed. Hence, the identification threat of an incident imposes a great challenge in the market growth.
Incident Response Market: - Key Players
Key players in the incident response market are focusing on new product launches and product enhancements with the technology vendors to offer open source and pirated security solutions for sustained business growth.
The major players offering Incident Response solutions include -
- Check Point
- Bae Systems
- Carbon Black
- Paladion Networks
- Alienvault, and among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global incident response market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with incident response market attractiveness as per segments. The report on incident response market also maps the qualitative impact of various factors on incident response market segments and geographies.
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Incident Response Market: - Segmentation
By Security Type, Incident Response Market is segmented into-
- Application Security
- Endpoint Security
- Network Security
- Cloud Security
By Vertical, Incident Response Market is segmented into-
- Healthcare and Life Sciences
- Retail and Ecommerce
- Travel and Hospitality
- Telecom and IT
- A detailed overview of parent market of incident response market
- Changing incident response market dynamics in the industry
- In-depth segmentation of the incident response market
- Historical, current, and projected incident response market size by value
- Recent industry trends and developments in incident response market
- Competitive landscape of the incident response market
- Strategies for key players in incident response and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on incident response market performance
- Must-have information for incident response market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Incident Response Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Incident Response Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Incident Response Market report?
In addition to up-to-date market figures and customized of the Incident Response Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.