Incident Response Services Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 20.83 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Incident Response Services Market Analysis
The global incident response services market is expected to register a CAGR of approximately 20.83% during the forecast period. With the increasing sophistication and frequency of attacks, more organizations are beginning to prioritize incident response teams that can help mitigate the impact of security threats on any organization.
- Incident response services refer to services provided by vendors who follow a predefined and organized set of procedures and approaches in the event of cyberattacks. These are also known as cyber incidents, "information technology (IT) incidents, and security incidents.
- Cyberthreats are attempts from the internet to damage or disrupt information systems and hack critical information using spyware, malware, and phishing. Incident response solutions help enterprises monitor networks and endpoints for advanced intrusions and fraudulent activities.
- Incident response services offered by the key players in the market comprise a wide variety of capabilities such as breach investigation (to identify if the threat is from an external source or an insider and also to determine the scope and timeline of the breach), forensic services (collection of digital pieces of evidence to be used as part of an investigation), handling chain-of-custody, examination, and analysis of applications, data, networks, and endpoint systems.
- Various factors such as the increasing number of security breaches, increasingly stringent government regulations and compliance requirements by enterprises, a rise in the sophistication level of cyber-attacks, and heavy financial losses post-incident occurrence, among others, are anticipated to provide significant scope for the market's growth over the forecast period.
- With the increasing sophistication and frequency of attacks, more organizations are beginning to prioritize incident response teams that can help mitigate the impact of security threats on any organization.
- With COVID-19 becoming a reality, organizations across the world responded proactively to cyber threats that witnessed a spike during the pandemic. Enterprises around the globe scrambled to tackle cyber risks and secure work-from-home (WFH) conditions amidst the pandemic, and spending on mitigating cyber threats soared.
Incident Response Services Market Trends
BFSI Sector to Drive the Market Growth
- The BFSI sector is one of the critical infrastructure sectors that has suffered several data breaches and cyberattacks, owing to the large customer base that the industry serves and the financial information that is at stake.
- Financial service institutions have been identified as being more susceptible to cyber attacks as compared to other industries. This is expected to drive the demand for incident response (IR) solutions capable of dealing with a crisis event such as a security breach, a security- or IT-incident investigation, and a forensic response.
- Enterprises operating in the BFSI sector are focused on implementing the latest technology to secure their IT processes and systems, secure customer-critical data, and comply with government regulations.
- These businesses have to take a defensive and proactive approach to data security because technology is getting better, regulations are getting stricter, and customer expectations are getting higher.For example, in July of 2017, CIB Bank Ltd. signed a three-year technology services agreement with Kyndryl to modernize and run its lending workflows and the platform underneath them. This was done to improve the bank's business model and the availability of its most important operations.
- Due to the large amount of personally identifiable information (PII) about policyholders, cybercriminals are drawn to the insurance sector of the BFSI industry. Once the PII is obtained, a cyber-criminal can be involved in malicious activities such as opening credit cards or bank accounts and applying for loans, amongst many other crimes, in the respective policyholder's name.
Asia Pacific to Witness the Highest Growth
- Since nearly one-third of the world's population lives in the Asia-Pacific region, people from all over the world are always after it.It has turned out to be a good source of human capital, and most of the thefts are focused on personal information.
- India has been one of the most well-known targets of cyber attacks because of its close ties to China, which has the most state-run actors.Although growing cyberattacks have propelled China to strengthen its defensive capabilities, the country has been recognized as a major source of origin for cyberattacks in other parts of the world.
- In India, the state of Maharashtra's cybersecurity cell noticed that Chinese hackers working for the Chinese government were targeting more areas of India.According to a report from the British Bankers' Association (BBA), 30% of cyberattacks around the world came from China as of March 2021.
- On the other hand, Australia passed a tougher cybersecurity law in September last year to establish its security features. This ensures that telecommunications providers share any data regarding breaches within their organizations and design and implement robust IR programs. Such a breach would result in fines "amounting to hundreds of millions of dollars.
Incident Response Services Industry Overview
The market is dominated by key players like IBM, Cisco, Intel, Symantec, Dell, BAE Systems, and Check Point Software Technologies that help enterprises globally detect, manage, and recover from losses regarding security attacks and network breaches.
In June 2022, Kyndryl and Veritas Technologies announced a global partnership to help enterprises protect and recover their critical data across multi-cloud environments, including ransomware attacks, and manage their data most efficiently to enable digital transformation.
In August 2022, Kaspersky and Microsoft partnered to deliver threat intelligence to Microsoft Sentinel users with actionable context for attack investigation and response. With this integration, enterprise security teams can extend cyber threat detection capabilities and increase the effectiveness of initial alert triage, threat hunting, or incident response.
Incident Response Services Market Leaders
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IBM Corporation
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Check Point Software Technologies
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Cylance Inc.
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FireEye
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Kaspersky Lab
*Disclaimer: Major Players sorted in no particular order
Incident Response Services Market News
- October 2022: BlackBerry launched Cyber Threat Intelligence (CTI), a professional threat intelligence service that will provide actionable intelligence on targeted attacks and cybercrime-motivated threat actors and campaigns, as well as intelligence reports specific to industries, regions, and countries, to help customers prevent, detect, and effectively respond to cyberattacks.
- October 2022: Check Point Software launched Check Point Quantum Titan, which leverages artificial intelligence (AI) and deep learning to deliver advanced threat prevention against advanced domain name system exploits (DNS) and phishing as autonomous IoT across the network, data center, cloud, and endpoints.
Incident Response Services Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Market Definition and Scope
- 1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Stakeholder Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Increasing Number of Security Breaches in BFSI sector to drive the market
- 5.1.2 Increasing Compliance Requirements by Enterprises is expected to flourish the market
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5.2 Market Restraints
- 5.2.1 Integration, Interoperability Issues, and Reliability Concerns may hinder the market growth
- 5.3 Impact of COVID-19 on the Market
6. MARKET SEGMENTATION
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6.1 By Size of Enterprise
- 6.1.1 Small and Medium Enterprises
- 6.1.2 Large Enterprises
-
6.2 By End-User Industry
- 6.2.1 IT and Telecom
- 6.2.2 BFSI
- 6.2.3 Industrial
- 6.2.4 Government
- 6.2.5 Transportation
- 6.2.6 Healthcare
- 6.2.7 Other End-User Industries
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6.3 Geography
- 6.3.1 North America
- 6.3.1.1 United States
- 6.3.1.2 Canada
- 6.3.2 Europe
- 6.3.2.1 Germany
- 6.3.2.2 UK
- 6.3.2.3 France
- 6.3.2.4 Spain
- 6.3.2.5 Rest of Europe
- 6.3.3 Asia-Pacific
- 6.3.3.1 China
- 6.3.3.2 Japan
- 6.3.3.3 India
- 6.3.3.4 Australia
- 6.3.3.5 Rest of Asia-Pacific
- 6.3.4 Latin America
- 6.3.4.1 Brazil
- 6.3.4.2 Mexico
- 6.3.4.3 Argentina
- 6.3.4.4 Rest of Latin America
- 6.3.5 Middle East and Africa
- 6.3.5.1 UAE
- 6.3.5.2 Saudi Arabia
- 6.3.5.3 South Africa
- 6.3.5.4 Rest of Middle East and Africa
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 CrowdStrike Holdings, Inc.
- 7.1.2 Check Point Software Technologies
- 7.1.3 Cylance Inc.
- 7.1.4 FireEye
- 7.1.5 Kaspersky Lab
- 7.1.6 Rapid7
- 7.1.7 IBM Corporation
- 7.1.8 NCC Group
- 7.1.9 Optiv Security, Inc.
- 7.1.10 Secureworks Inc.
- 7.1.11 Trustwave Holdings
- 7.1.12 KPMG International ltd.
- 7.1.13 Deloitte Touche Tohmatsu Ltd.
- 7.1.14 Ernst & Young
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIncident Response Services Industry Segmentation
Incident response services have been defined as consultation services wherein a service provider assesses the exposure to risk of the client's systems by conducting activities such as malware analysis, network and endpoint analysis, cyber forensics, threat hunting, and communications support technology recovery, to name a few. Additionally, on-demand incident response specialist access (retainer) is extended to reduce breach exposure time significantly.
The incident response services market is segmented by size of enterprise (small and medium enterprises, large enterprises), end-user industry (IT & Telecom, BFSI, Industrial, Government, Transportation, and Healthcare), and geography (North America (United States, Canada), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and Middle East & Africa (UAE, Saudi Arabia, UAE, Saudi Arabia, UAE, South Africa, and Rest of MEA)
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Size of Enterprise | Small and Medium Enterprises | |
| Large Enterprises | ||
| By End-User Industry | IT and Telecom | |
| BFSI | ||
| Industrial | ||
| Government | ||
| Transportation | ||
| Healthcare | ||
| Other End-User Industries | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | Germany |
| UK | ||
| France | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Brazil |
| Mexico | ||
| Argentina | ||
| Rest of Latin America | ||
| Geography | Middle East and Africa | UAE |
| Saudi Arabia | ||
| South Africa | ||
| Rest of Middle East and Africa |
Incident Response Services Market Research FAQs
What is the current Incident Response Services Market size?
The Incident Response Services Market is projected to register a CAGR of 20.83% during the forecast period (2024-2029)
Who are the key players in Incident Response Services Market?
IBM Corporation, Check Point Software Technologies, Cylance Inc., FireEye and Kaspersky Lab are the major companies operating in the Incident Response Services Market.
Which is the fastest growing region in Incident Response Services Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Incident Response Services Market?
In 2024, the North America accounts for the largest market share in Incident Response Services Market.
What years does this Incident Response Services Market cover?
The report covers the Incident Response Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Incident Response Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Incident Response Services Industry Report
Statistics for the 2023 Incident Response Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Incident Response Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
