Primary objective of incident response system is to provide a collective effort in order to manage any short of security bridge or attack after getting an indication from a system. It also help to restrict the damages in the system and thus reduces the recovery time and cost. This system consist of a planned response that should be followed at the time of security bridge in order to protect the data. Organization members from various field including public relation, IT, human resource and security among others are involved in the formulation of the plan. The market of incident response system is predicted a stable during the forecast period from 2016 to 2024 owing to increasing concern regarding data loss across different organization.
Incident response system market is segmented on the basis of system into geospatial technologies, threat management system, backup & disaster recovery solutions and surveillance systems. Threat management is system that allows an administrator to manage and monitor the wide range of security related infrastructure and application through a management support. Increased dependency on web applications leads to an extraordinary rise in cyber-attacks, including advanced persistent threats. Adoption of threat management is provided for companies to provide a smooth work environment and increase the potentiality of security systems which in turn is predicted to boost the market growth of incident response system in the coming years.
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The growth witnessed in the demand for cloud solution is expected to positively influence the demand for incident response system during the forecast period. In addition, enormously increasing data volume and rising concerns regarding data loss is also expected to augment the demand of incident response technology during the forecast period. Moreover, increasing number of data breaches and rapidly growing the terrorist activities different parts of the world is also acting as a driving factor in the growth of incident response system market in the coming eight years. Different types of challenges such as lack of connectivity and absence of proper infrastructure in wireless data transmission and IP video surveillance technology is also predicting positively affect the market demand of incident response system. Consequently, Incident response system technology is adopted across different sectors including different enterprises, manufacturing organization, transportation, shopping malls and BFSI sectors among others. This significant growth and adoption of this technology is anticipated to accelerate the demand of incident response system during the forecast period from 2016 to 20204.
However, high initial cost of implementation is anticipated to limit the market growth of incident response system in the coming years. Furthermore, increasing uses of open source management solution adopted by different organization is also acting as a challenge for the various incident response system providers during the forecast period.
Geographically, incident response system technology market is segmented into North America, Asia Pacific, Europe, Middle East and Africa (MEA) and Latin America. The growth in demand for this system technology market is majorly driven by North America. North America market is driven by the growing number of retail stores that are adopting surveillance systems to prevent theft. Asia Pacific is predicted to witness the most promising market in the coming years, owing to increasing number of manufacturing organization and adoption of IP surveillance. In addition, increasing focus on research and development activities by government initiative in security solution is also acting as a driving factor in the growth for the US market. Across the globe most promising developing countries in Europe to dominate the market share within next forecast period.