IBM (US), FireEye (US), Symantec (US), Cisco (US) and Check Point Software Technologies (Israel) are the Prominent Players in Incident Response Market - Report by MarketsandMarkets™

According to recent research "Incident Response Market by Component (Solution and Services), Service (Retainer, Assessment and Response, and Planning and Development), Security Type, Organization Size, Deployment Mode, Vertical and Region - Global Forecast to 2023", The incident response market is expected to grow from USD 13.38 billion in 2018 to USD 33.76 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.3% during the forecast period. The major factors driving the incident response market include heavy financial losses post incident occurrence, rise in security breaches targeting enterprises, and need to adhere to compliance requirements.

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The assessment and response segment is estimated to hold the largest market size in the incident response market in 2018

The assessment and response segment is expected to dominate the incident response market in terms of its contribution to the overall market shares, as organizations are deploying assessment and response services to detect and respond against advanced cyber-attacks. It implements a stronger security infrastructure through readiness and response capabilities and evaluate organization’s preparedness to prevent or tackle a cyber-attack.

Cloud deployment segment is expected to grow at a higher CAGR in the global incident response market during the forecast period

Incident response solutions can be deployed on-premises as well as on cloud as per the requirements of businesses. The cloud deployment segment is expected to grow at a higher CAGR in the global incident response market during the forecast period. The cloud deployment mode is preferred for its features, such as improved and enhanced security, lower setup costs, easy accessibility, quicker deployment, high scalability, customizable offerings, more storage space, and ease of maintenance.

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North America is expected to hold the largest market size in the incident response market during the forecast period

North America is estimated to account for the largest share of the overall market in 2018. The region is considered as the most advanced in technology adoption and infrastructure. The wide presence of key industry players of incident response solutions is the main driving factor for the incident response market in North America. The largest market size in the North America region is being driven by the early adoption, high level of IT capabilities, and higher IT investments capabilities. APAC is expected to grow at the highest rate as the high traction is expected across countries in APAC.

Major incident respose vendors include IBM (US), Symantec (US), Verizon (US), BAE Systems (UK), NTT Security (Germany), Trustwave (US), Cisco Systems (US), Check Point Software Technologies (Israel), FireEye (US), Rapid7 (US), Dell (US), CrowdStrike (US), McAfee (US), Optiv (US), Resolve Systems (US), Kudelski Security (Switzerland), Swimlane (US), LogRhythm (US), Carbon Black (US), RiskIQ (US), Accenture (Ireland), AlienVault (US), Kaspersky Lab (Russia), Paladion Networks (India), and Coalfire (US).

IBM is focused on providing more innovative and secure solutions for the protection of the critical infrastructures and data across various industry verticals through its continuous acquisitions, partnerships, R&D, and product expansion programs. To enhance the visibility in the context of the security industry, the company has established a separate business unit, Security Systems to resolve all security related problems. In the incident response market, IBM has recently announced the expansion of its Managed Security Services (MSS)offerings to include the X-Force incident response and intelligence services. To automate incident response and reduce the repetitive tasks, IBM is orchestrating its incident response processes. For instance, in April 2018, IBM Resilient launched an intelligent orchestration solution with the next-generation of IR to dramatically accelerate and improve the entire response process. The acquisition of Resilient, in April 2016, has helped IBM expand its capability and portfolio in the Incident response market. IBM’s position in the incident response market can further improve with the help of Resilient’s best response capabilities and more than 100 global customers, which include 30 of the Fortune 500 companies and partners in more than 20 countries.

FireEye is one of the pioneers in the Incident response marketspace. The company focuses on expanding its business operations significantly by acquiring the key industry players in the incident response market. By acquiring Mandiant in 2013, FireEye expanded its incident response services portfolio. Moreover, FireEye acquired iSIGHT Partners to develop and deliver the world’s most advanced and comprehensive cyber threat intelligence operation platform. The company considers new product launches, as a significant strategy of its growth, hence it has consistently increased its R&D investments. In May 2016, FireEye launched FireEye Orchestrator solution to help organizations build next-generation Security Operations Center (SOC). In addition, it enhanced Global Threat Management Platform providing high visibility to automate security operations. Apart from adopting the product development strategy, the company has made acquisitions and partnerships with various key industry players. In January 2018, the company acquired X15 Software to add X15 Software’s big data and machine learning capabilities into its security tools.

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