Rising trend of cloud computing along with technological advancements in cybersecurity solutions are significant factors driving global incident response market

VANCOUVER, BRITISH COLUMBIA, CANADA, November 4, 2022 /EINPresswire.com/ -- The global incident response market size reached USD 23.45 billion in 2021 and is expected to register a revenue CAGR of 20.9% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is attributed to rising incidences of security breaches globally. Incident responses are essential in identifying and dealing with problems related to cyber security such as data leaks as it helps in handling cyber-attacks by minimizing loss and reducing recovery time and expenses. Also, with the assistance of an incident response team, firms build strategic ways for performing preventative incident management actions and strengthening their present error detection process. As a result, every company is deploying an incident response framework to respond quickly and effectively to various security breaches. The increasing use of modern and advanced technologies in various businesses is resulting in increased security breaches, which is driving market revenue growth.

When referring to services offered by vendors, incident response is used to describe ways and procedures that are planned and predefined in the event of cyberattacks. These are also referred to as security incidents, IT events, and cyber incidents.

Cyber threats are internet-based attempts to compromise sensitive data via spyware, malware, and phishing, as well as to harm or disrupt information systems. Enterprises can monitor networks and endpoints for sophisticated intrusions and fraudulent activity with the use of incident response systems.

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Incident Response Market: - Market Dynamics

In the past, businesses simply implemented security tactics and strategies to protect and uphold the integrity of crucial information. Businesses are now focusing on identifying better security ways for secure information deployed in the cloud as well as on-site in response to a rapid increase in cybercrimes and data theft activities.

The businesses have been subjected to social engineering, DDoS, and phishing cyberattacks. Additionally, major corporations around the world are taking steps to adopt incident response solutions for both on-premises and cloud-deployed business systems, as well as helping other small businesses learn how to use incident response tools and identify online security concerns.

Demand is increasing for Cloud-Based Security Solution

During the projection period, the worldwide incident response market is expected to develop as more workloads, including data backups, ERP, CRM, email services, and collaboration services, are moved to the cloud.

Additionally, cloud computing increases technological flaws and makes it simple for unauthorised individuals to gain access. As a result, many businesses are implementing cybersecurity solutions to safeguard their cloud workloads from threats and dangers.

Some of the key participants in this industry include:

Broadcom Inc., McAfee LLC, Palo Alto Networks, International Business Machines Corporation (IBM), Cisco Systems, Inc., Check Point Software Technologies, Ltd., BAE Systems Inc., NTT, Inc., RiskIQ, AT&T Cybersecurity, and Kaspersky Lab.

Some Key Highlights in the Report

Zscaler Inc. and CrowdStrike Holdings Inc. introduced an end-to-end security protection application on March 29, 2021. Organizations can anticipate receiving dynamic data and identity-centric security protection from devices' zero-trust security via new.

Due to the rapid use of cloud-based solutions across numerous industries, including BFSI, healthcare, retail & e-commerce, and others, the cloud security category is anticipated to experience the fastest revenue CAGR during the projected period. The category is expanding as a result of increasing government attempts to promote cloud-based security service providers by encrypting operating systems, social media, and various online payment applications. Due to the use of traditional IT infrastructures, cloud-based security assaults are also constantly increasing, making it simpler for hackers to leak and manipulate data. Because of this, cloud-based security solution providers have developed advanced security solutions to ensure the security of cloud environments, resulting in the segment's revenue growth.

In 2021, the cloud segment's revenue share was the highest. Over the forecast period, the segment's revenue is anticipated to grow because to the rising demand for cloud-based services for several workloads, including data backups, enterprise resource planning (ERP), customer relationship management (CRM), email services, and collaboration services. A clever technique for handling cyberattacks in a cloud environment is cloud security management. Cloud computing also increases technological barriers, making it easier for unauthorised people to obtain access. As a result, many companies are putting cybersecurity techniques into place to protect their cloud workloads from online threats and attacks.

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Emergen Research has segmented the global incident response market based on component, security type, deployment mode, organization size, application, and region:

Component Outlook (Revenue, USD Billion; 2019-2030)

Solutions

Services

Retainer

Assessment and Response

Tabletop Exercises

Incident Response Planning and development

Advanced Threat Hunting

Others

Security Type Outlook (Revenue, USD Billion; 2019-2030)

Web Security

Application Security

Endpoint Security

Network Security

Cloud Security

Deployment Mode Outlook (Revenue, USD Billion; 2019-2030)

Cloud

On-Premises

Organization Size Outlook (Revenue, USD Billion; 2019-2030)

Small and Medium-Sized Enterprises

Large Enterprises

Application Outlook (Revenue, USD Billion; 2019-2030)

BFSI

Government

Healthcare & Life Sciences

Retail & e-commerce

Travel & Hospitality

IT & Communication

Others

Regional Outlook (Revenue, USD Billion; 2019–2030)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Israel

Rest of MEA

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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