Cyber Crisis Management - Introduction
- Cyber crisis management is a set of strategies, which helps to minimize the threats and reduce the impact of cyber-attacks on company operations by storing and securing the data on a cloud-based cybersecurity system.
- In today’s technological world, organizations need to adopt a cyber crisis management system to avoid predictable loss of cost and time after a cyber-breach.
- The increasing adoption of advanced technology such as AI and IoT in various sectors creates various opportunities to provide security solutions to enterprises, which helps to expand the cyber crisis management market over the next few years.
Global Cyber Crisis Management Market: Dynamics
Global Cyber Crisis Management Market: Key Drivers
- A rise in mobile threat issues due to the invention of various applications creates the risk of cyber-attacks for companies, leading to increase in demand for cyber crisis management to handle the cyber crisis of company operations.
- Adoption of cyber crisis management is expected to increase during the forecast period to detect cyber incidents and to protect the network and data in business operations.
- In the aerospace sector, the chances of cyber-attacks have increased due to extensive technological investments, which affects the cybersecurity of companies, and is a factor fuelling the demand for cyber crisis management.
- However, the operations of cyber crisis management are complex in nature, which restrains the adoption of cyber crisis management.
- The cyber crisis management process consumes more time and this also impacts the growth of the market.
- The cyber crisis management market has ample opportunities in SMEs, due to increase in number of cyber-attacks.
- The market also has substantial opportunities in the BFSI segment, to prevent cyber-attacks during mobile banking operations.
Impact of COVID-19 on the Global Cyber Crisis Management Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Companies adopting the work from home work culture is the new normal.
- Digital transformation and cyber security of companies have become the most important factors due to COVID-19, which affects the remote working environment of an organization.
- Companies need to provide a cyber-safe environment to every working individual. Hence, it is concluded that COVID-19 has a positive impact on the cyber crisis management market.
North America to Hold Major Share of the Global Cyber Crisis Management Market
- In terms of region, the global cyber crisis management market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is likely to be the largest market for cyber crisis management during the forecast period. The need for cyber security increases as a result of increase in investment in the IT & telecommunication sector in the US and Canada, which leads to the high adoption of cyber crisis management in the North America region
- The financial stability of enterprises in Asia Pacific and Europe encourages them to invest in cybersecurity to secure the data of company operations, which drives the demand for cyber crisis management in APAC and Europe.
- Rapid digitization in UAE and Saudi Arabia opened more gateways for cyberattacks, which triggered the adoption of cyber crisis management in the MEA region.
Global Cyber Crisis Management Market: Competition Landscape
- Several players in cyber crisis management have a strong presence in the market with rapid technological advancements.
- In July 2019, White Hat Security, a key player in the cyber crisis management market, was acquired by NTT security, which meets modern security needs of IT infrastructures of enterprises and operates other business applications.
Key Players Operating in the Global Cyber Crisis Management Market Include:
- Broadcom Technical Concepts LLC
- Cisco Systems Inc.
- Deloitte Network
- Hewlett Packard Enterprises,
- International Business Machines Corporation
- Immersive Labs
- Juniper Networks Inc.
- McAfee LLC
- NTT Security
- Optiv Security Inc.
- Palo Alto Networks, Inc.
- Rapid7 Inc.
- Symantec Corporation
- White Hat Security
Global Cyber Crisis Management Market: Research Scope
Global Cyber Crisis Management Market, by Deployment
- On- premise
Global Cyber Crisis Management Market, by Application
- IT & Telecommunications
- Healthcare & Life Sciences
- Media & Entertainment
- Aerospace & Defence
Global Cyber Crisis Management Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.