Security incident management market is significantly growing in many organizations as this technology enable organizations to assess and analyze the IT infrastructure and identify malicious threats. Security incident management provides organization with proactive security monitoring with greater efficiency which minimizes resulting damage and provide critical feedback on incidents that occurs. Many organizations are investing in security incident management to secure their data and to manage their IT infrastructure.
The major driver for security management market is the increase in cyber-attacks and to manage the IT infrastructure for organizations. Therefore, many organization are deploying the security incident management technology to ensure confidentiality, integrity and availability of organizations data. In addition to that, the increase in Bring Your Own Device (BYOD) market and the rise in demand for advanced security solutions is contributing the growth of the security incident management market.
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In contrast to this, due to lack of awareness about advanced threats and increasing complexity in IT infrastructure is restraining the growth of security incident management market.
Security incident management Market is currently dominated by North America due to maximum number of IT companies, multinational large scale and small scale organizations which are target of cyber-attacks. Due to strict government regulations, the U.S holds the majority of market share in terms of revenue generation and adoption rate in this region.
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The Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period, as there is increasing dependency on IT-enabled services in this region. Chines government is imposing strict regulation on implementation of security incident management in organization to avoid malicious threats.
Some of the key players in security incident management markets are IBM Corporation, Cisco Systems, Inc., Intel Corporation, Symantec Corporation, Dell Inc., BAE Systems, Check Point Software Technologies Ltd., Honeywell International, Inc, Verizon Communication Inc.