Market Size of Incident Response Services Industry
| 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.
