Incident Response Services Market (US$ 61Bn) Briefing, Technology Advancement and Future Scope Till 2026

The market was valued at USD 21.72 billion in 2019,and it is projected to reach a value of USD 61.01 billion by the end of 2025, at a CAGR of 18.96% over the forecast period (2020-2025).

With the sophistication and frequency of attacks increasing, more organizations are beginning to prioritize incident response teams who can help mitigate the impact of security threats to any organization.

Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-

IBM Corporation, Cisco Systems Inc., Intel Corporation, Broadcom Inc. (Symantec Corporation), Dell Inc., BAE Systems PLC, Check Point Software Technologies Ltd, FireEye Inc., Honeywell International Inc., Verizon Communications Inc.

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- There has been rise in cases of cyberattacks, globally. Lately, in April 2019, Amnesty International's Hong Kong office has been hit by a years-long cyberattack from hackers with known links to the Chinese government. In the same month, medical billing service provider Doctors Management Service suffered a ransomware attack compromising patients data from a number of its clients. These kind of incidents are leading to an emerging demand for incident response services.
- Proposals, principles, laws, rules, standards, and guidelines are spreading in global forums, federal agencies, state legislatures, and business world, regarding enforcing security standards. In 2018, the US SEC involved in requiring cybersecurity disclosures in financial statements. GDPR fines for non-compliance may be upto 22.28 USD million, or if higher, 4% of an organization s annual turnover.
- Pirated software distribution is still possible in the majority of countries through Torrent services. It can infringe intellectual property rights, yet they remain easily accessible online. They are a popular target for cybercriminals looking to distribute malicious code. Kaspersky Lab discovered PirateMatryoshka malware in March 2019, which carries a Trojan-downloader disguised as a hacked version of legitimate software used in everyday PC activity.

Scope Of the Report

Advanced threat detection solutions are being employed by firms in industries, like IT, BFSI, manufacturing, and healthcare to detect the trespassers, whose main aim is cybercrime. Various security solutions are being installed by enterprises, which establish network, e-mail, database, and web security. Meanwhile all incidents cannot be prevented, there are measures organizations can take to minimize their attack and lessen the frequency and severity of incidents.

Data Breaches in the Healthcare Industry to Drive the Market Growth

- In 2018, the healthcare industry continued to be plagued by data breaches involving sensitive patient information, according to 2019 Breach Barometer Annual Report by Protenus.
- The largest breach reported in 2018 was a hacking of a business associate. It involved a North Carolina-based health system vendor that had its patient information accessed by an unauthorized party. Hackers gained access to patient information over the course of a week, affecting 2.65 million patient records.
- For 2019, the largest data breach incident was reported by Navicent Health in March. It was a phishing attack in which the records of 278,016 patients were potentially accessed and copied by the attackers. A similarly sized data breach was reported by ZOLL Services, which impacted 277,319 individuals.
- As per HIPAA's Data Breach Report, healthcare data breaches continued to be reported at a rate of one a day in March 2019..

Asia-Pacific to Witness the Highest Growth

- According to IBEF, Indias IT & ITeS industry grew to USD 181 billion during 2018-2019. According to data released by the Department of Industrial Policy and Promotion (DIPP), the computer software and hardware sector in India attracted cumulative foreign direct investment (FDI) inflows worth USD 35.82 billion during April 2000 to December 2018. This calls for an increased demand for incident response service.
- Moreover, growing technological innovations in China and Japan results in growth of the incident response services market. According to Japan Electronics and Information Technology Industries Association (JEITA), computers and IT terminal production in February 2019 was worth JPY 95,371 million, as compared to JPY 85,564 million in January 2019.

Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America) 
Middle East & Africa

Some of the key developments in the area are:

- April 2019 - Rapid7 Inc. acquired NetFort, a company that provides end-to-end network traffic visibility and analytics across cloud, virtual, and physical networks. Rapid7 plans to bring NetForts network monitoring, visibility, and analytics capabilities into its Insight cloud to help customers securely advance.
- July 2018 - LIFARS, a New York-based cybersecurity digital forensics and incident response firm, tied up with IT consultancy firm Tech Mahindra to innovate and create new services in specific areas of threat detection, mitigation, incident management, and integrated cyber.
- October 2018 - FireEye rolled out an assortment of free tools, shared knowledge, security expertise, and on-demand services to advance community-based protection from cyberattacks. The platform initially focused on existing open-source software, freeware, and community developed tools.

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Major points covered in this research are:-

─Incident Response Services Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2025), Competition by Manufacturers

─Global Market Size (Value) of Incident Response Services (2019-2025)

─Global Incident Response Services Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)

─Global Incident Response Services Production, Revenue (Value), Price Trend by Type

─Global Incident Response Services Market Analysis by Application

─Global Incident Response Services Manufacturers Profiles/Analysis

─Incident Response Services Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Global Incident Response Services Market Forecast (2019-2025)

─Competitive Landscape

─Research Findings and Conclusion

Finally, this Incident Response Services report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Incident Response Services product development and gives an outline of the potential Global market.

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This release was published on openPR.