IBM (US) and FireEye (US) are the Major Players in the Incident Response Market
The global incident response market size 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 driving factors for the Incident response market are stringent government regulations and compliance requirements and the rise in the sophistication level of cyber-attacks.
The major players in the incident response market 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).
These players have adopted various growth strategies, such as partnerships and collaborations; acquisitions; and new product launches, to further expand their presence in the global incident response market. Partnerships and acquisitions have been the most dominating strategy adopted by the major players from 2016 to 2018, which helped them innovate on their offerings and broaden the customer base.
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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.
Related Reports:
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
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