Incident Response Market Top Opportunities, Research Report, Competitive Landscape And Forecast By 2033

The incident response market size has grown rapidly in recent years. It will grow from $34.01 billion in 2023 to $40.52 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to rise in cybersecurity threats, regulatory compliance requirements, increased frequency and sophistication of attacks, protecting reputation and customer trust, acknowledgment of inevitability of breaches.

The incident response market size is expected to see exponential growth in the next few years. It will grow to $87.57 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to evolution of attack vectors, integration with threat intelligence, collaboration and information sharing, automation and orchestration capabilities, focus on insider threats. Major trends in the forecast period include integration with endpoint detection and response (EDR), remote incident response capabilities, emphasis on threat hunting, incident response as a service (IRaaS).

Market Overview -
Incident response is the process of identifying a data breach quickly and minimizing its effects. It allows the organization to manage a cyberattack by lowering the damage in terms of costs and recovery time. Incident response also helps the company to reduce future uncertainties related to a data breach and save its brand reputation.

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Rising Cyber Threat Landscape Fuels Surge In Incident Response Market
An increase in cyber-attacks is significantly contributing to the growth of the incident response market. A cyber-attack is an attempt to steal data, disable computers, or breach the computer system to launch additional attacks. It is an attack by cybercriminals against single or multiple networks or computers. Incident response plays an important role in dealing with and recognizing cybersecurity attacks. So, growing cyber-attacks are boosting the growth of the incident response market. For instance, in January 2023, according to the new data provided by Checkpoint, an Israel-based provider of software and hardware products for IT security, the cyberattacks increased by 38% in 2022 globally, compared to 2021. Therefore, an increase in cyber-attacks is expected to propel the growth of the incident response market going forward.

Competitive Landscape -
Major companies operating in the incident response market report are Verizon Communications Inc., The International Business Machines Corporation, Cisco Systems Inc., BAE Systems plc, Cybrary Inc., Palo Alto Networks Inc., Symantec Corporation, CrowdStrike Holdings Inc., Check Point Software Technologies, McAfee Corp., Digital Guardian, Kudelski Security, FireEye Inc., RSA Security LLC, Optiv Security Inc., Rapid7, SecureWorks Inc., Tanium Inc., Trustwave Holdings, LogRhythm Inc., Cybereason Inc., RiskIQ, Anomali Inc., Cofense Inc., Swimlane LLC, D3 Security Management Systems Inc., Resolve Systems LLC, AlienVault Inc., Carbon Black Inc., NTT Security Holdings, Blackberry Limited, Cynet, Siemplify Ltd.

Fixed Incident Response Service To Address The Decreasing Dwell Times Of Cyber Adversaries
Major companies in the incident response market are focused on providing fixed incident response services, such as retainers, to address the decreasing dwell times of cyber adversaries and to gain a competitive edge in the market. A retainer is a fixed-fee arrangement for services, ensuring access to specified resources or expertise over a set period. For instance, in August 2023, Sophos, a UK-based innovator delivering cybersecurity as a service, launched Sophos Incident Response Retainer, streamlining access to its fixed-cost incident response service with 45 days of 24/7 Managed Detection and Response (MDR). The retainer accelerates response times, allowing Sophos incident responders to swiftly address active cyberattacks. It includes external vulnerability scanning and critical preparedness guidance to enhance security resilience proactively. As attacker dwell times decrease, the median dwell time drops from 10 days to eight days.

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Key Segments -
The incident response market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: Small And Medium-Sized Enterprise, Large Enterprises
4) By Security Type: Web Security, Application Security, Endpoint Security, Network Security, Cloud Security
5) By Vertical: Government, Healthcare And Life Sciences, Retail And Ecommerce, Travel And Hospitality, Manufacturing, Telecom And IT, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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