Incident Response System Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, India, Canada, UK - Size and Forecast 2024-2028

Incident Response System Market Size 2024-2028 

The incident response system market size is forecast to increase by USD 126.4 million, at a CAGR of 20.63% between 2023 and 2028. The market is experiencing significant growth due to several key trends and drivers. One of the primary drivers is the rise in terrorist activities and cyber threats, leading organizations to invest in advanced IRS solutions to mitigate potential risks and ensure business continuity. Another trend influencing the market is the emergence of wireless IP surveillance, enabling real-time monitoring and quick response to security breaches. However, the high initial costs of implementing IRS systems remain a challenge for small and medium-sized enterprises (SMEs), limiting their adoption. Despite this, the market is expected to grow at a steady pace as more organizations recognize the importance of having a strong IRS in place to protect their assets and maintain business resilience.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The market is experiencing growth, driven by the increasing frequency of cyber security breaches across various sectors. Organizations are investing in IR planning and development to fortify their defenses. An IR retainer is becoming a crucial asset for companies seeking ongoing support and expertise. Incident Response Platforms are leveraging AI to enhance network incident response capabilities, providing real-time solutions for large enterprises, healthcare, and finance sectors. The government segment including central government, state government, and local government is also prioritizing advanced incident response solutions to protect sensitive data and ensure security. Tailored solutions are essential for each sector, addressing unique vulnerabilities and compliance requirements. As threats evolve, the need for specialized incident response strategies and platforms continues to grow, reflecting the critical importance of rapid and effective responses in today's digital landscape.

Key Market Driver

The rise in terrorist activities is one of the key drivers supporting the incident response system market growth. For instance, in August 2021, the worst terrorist attack occurred in Kabul, Afghanistan. A suicide bomber detonated a bomb at Kabul International Airport, causing 170 fatalities. Afghanistan was the location of six of the 20 worst terrorist attacks in 2021. Anti-terrorism organizations are adopting advanced surveillance technologies, such as unmanned aerial vehicles (UAVs) and drones, for monitoring terrorist activities. 

However, despite the challenges that the vendors faced during COVID-19, they still continued to develop new products. For instance, in August 2020, Elbit Systems integrated the data supplied by Sintelas fiber optics-based Linear Ground Detection Systems (LGDS) into its TORCH Command & Control system used by the United States Border Patrol (USBP). Therefore, such developments drive the growth of the global incident response system market during the forecast period.

Significant Market Trends

The emergence of wireless IP surveillance is one of the key incident response system market trends contributing to market growth. Wireless IP surveillance is an easily deployable and highly affordable technology that combines IP video surveillance and wireless data transmission technologies to overcome various challenges, such as a lack of network infrastructure and connectivity in remote locations. Wireless IP surveillance is a strong and flexible solution that allows surveillance cameras to connect to wireless point-to-multipoint connectivity for easy data transmission to remote locations.

Further, wireless IP surveillance secures the perimeter of buildings and monitoring warehouse loading docks. Therefore, the growing adoption of wireless IP surveillance systems will drive the growth of the incident response system market in focus during the forecast period.

Major Market Challenge

High initial costs of systems is one of the factors challenging the incident response system market growth. The setting up of incident protection solutions requires significant investments that can reach tens of thousands of dollars, which is a challenge for small and medium-sized organizations. Organizations must also bear the additional cost of replacing and upgrading incident response systems periodically. Enterprises should invest in security solutions that are more automated and can flag anomalies within a short time, as new-age hackers can easily circumvent traditional security features such as firewalls.

However, the maintenance of on-premises data security solutions requires in-house IT administration staff to manage and control issues, which will result in high implementation costs. Therefore, this increases the total cost of ownership (TCO) for incident response systems, which can pose a major challenge for the incident response system market growth during the forecast period.

Exculsive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• BAE Systems Plc: The company offers Cyber Incident Response services that combine technical skills with strategic guidance to ensure that organisation makes the right decisions at the right times to limit the impact of the attack.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Accenture Plc
• Acronis International GmbH
• AO Kaspersky Lab
• Broadcom Inc.
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• CrowdStrike Holdings Inc.
• Elbit Systems Ltd.
• FireEye Security Holdings US LLC
• Fujitsu Ltd.
• Honeywell International Inc.
• HP Inc.
• International Business Machines Corp.
• Lockheed Martin Corp.
• McAfee LLC
• Palo Alto Networks Inc.
• Rapid7 Inc.
• RTX Corp.
• Verizon Communications Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Type 

The surveillance systems segment is estimated to witness significant growth during the forecast period. The global incident response system market is experiencing substantial growth, particularly in the segment of orchestration, automation, and intelligence. This expansion is driven by the increasing number of cybersecurity threats, such as ransomware incidents, data breaches, cyberattacks, and advanced threats like fraud in mobile banking, cashless payments, and e-commerce platforms.

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The surveillance systems segment accounted for USD 18.80 million in 2018. Security agencies and organizations across various sectors, including central, state, and local governments, social security funds, and large and small enterprises, are investing in IR retainers and assessment and response services. Tabletop exercises and advanced threat hunting are becoming essential components of incident response strategies. Log analysis, endpoint data analysis, and network traffic analysis are critical elements of the threat detection process. The information technology department and cybersecurity teams are focusing on enhancing web, endpoint, application, network, cloud, IoT, and cloud services security to mitigate cybersecurity risks.

Regional Analysis

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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Incident Response System market is witnessing significant growth due to the increasing number of cybersecurity breaches affecting various sectors, including mobile banking, cashless payments, social security funds, and e-commerce platforms. Security agencies are increasingly relying on advanced technologies such as orchestration, automation, and intelligence to enhance their IR capabilities. IR retainers are becoming a popular choice for organizations to ensure a swift and effective response to security incidents.

Furthermore, the Information Technology department plays a crucial role in implementing IR systems, which include log analysis, endpoint data analysis, network traffic analysis, and threat detection processes. Cyberattacks, such as ransomware incidents, patient safety breaches, and web, endpoint, application, network, and cloud security threats, are driving the demand for IR systems. IoT and cloud services are also emerging areas of concern, necessitating the adoption of the IR solutions. The IR market caters to various segments, including government and large and small enterprises, offering solutions for web security, endpoint security, application security, network security, and cloud security.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type Outlook
  • Surveillance systems
  • Backup and disaster recovery solutions
  • Geospatial technologies
  • Threat management systems
• Region Outlook 
  • APAC
    • China
    • India
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

The incident response market is a critical component of Information Technology (IT) infrastructure, designed to manage and mitigate the impact of IT incidents. The market encompasses various solutions and services, including case management, orchestration, automation, intelligence, and analysis tools. These systems help Security agencies respond effectively to Cybersecurity Risks such as Cybersecurity Breaches, Ransomware incidents, Fraud, and Cybersecurity Incident Response. Key applications include Log analysis, Endpoint data analysis, and Network traffic analysis, which are essential for identifying and addressing IT incidents. The market caters to various sectors, including Information Technology departments, Mobile banking, Cashless payments, Online shopping, IoT, and Cloud Services. Cybersecurity Risks, such as regulatory compliance, are driving the growth of the Incident Response System market. Advanced technologies like Machine Learning and Artificial Intelligence are being integrated into these systems to enhance their capabilities. The market is expected to witness significant growth due to the increasing number of Cybersecurity Incidents and the need for Awareness and Preparedness among organizations.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies