Market Size –
The security automation market size has grown rapidly in recent years. It will grow from $9.45 billion in 2023 to $10.81 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to increased cyber threats, rise of advanced persistent threats (APTs), increasing complexity of IT environments, endpoint security demands, and incident response optimization.
The security automation market size is expected to see rapid growth in the next few years. It will grow to $18.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to integrated risk management automation, global threat intelligence sharing, automated privacy and data protection compliance, IoT security automation. Major trends in the forecast period include AI and machine learning integration, zero trust architecture implementation, extended use of SOAR platforms, IoT security automation, human-machine collaboration.
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Scope Of Security Automation Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Security Automation Market Overview
Market Drivers –
Rising phishing attacks and security breach cases are expected to propel the growth of the security automation market going forward. Phishing attacks refer to social engineering attacks frequently used to acquire user information, such as login credentials and credit card details. Data security breaches refer to sensitive information being revealed to an unsafe external environment for commercial gain or as a result of unintentional mistakes. Phishing attacks and security breach cases are driven by financial gain, data theft, identity theft, espionage, system disruption, or opportunistic exploitation of vulnerabilities. Security automation enhances detection and response capabilities to mitigate phishing attacks and address security breaches effectively. For instance, according to the Anti-Phishing Working Group, a US-based organization, in the first quarter of 2022, the APWG recorded a total of 1.03 million phishing attacks, a 15% rise from 888,585 attacks in the fourth quarter of 2021. Therefore, the rising phishing attacks and security breach cases are driving the growth of the security automation market.
Market Trends –
Major companies operating in the security automation market are increasing their focus on developing advanced solutions, such as the security automation ecosystem for operational technology (OT), to gain a competitive edge in the market. A security automation ecosystem is an integrated system of tools, technologies, and processes that work together to automate various cybersecurity operations. For instance, in November 2022, Swimlane, a US-based security automation company, launched the security automation ecosystem for OT. Swimlane aims to enhance security operations in OT environments by providing solutions that combine security automation with OT and IoT security, cyber-physical threat response, and managed threat detection services.
The security automation market covered in this report is segmented –
1) By Type: Solution, Services
2) By Technology: Artificial Intelligence And Machine Learning, Predictive Analytics, Robotic Process Automation, User And Entity Behavior Analytics, Other Technologies
3) By Application: Network Security, Endpoint Security, Incident Response Management, Vulnerability Management, Identity And Access Management, Compliance And Policy Management, Data Protection And Encryption
4) By Vertical: Banking Financial Services And Insurance, Manufacturing, Media And Entertainment, Healthcare And Life Sciences, Energy And Utilities, Government And Defense, Retail And Ecommerce, Other Verticals
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Regional Insights –
North America was the largest region in the security automation market in 2023. The regions covered in the security automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the security automation market are Google LLC, Microsoft Corporation, International Business Machines Corporation, Cisco Systems Inc., VMware Inc., Palo Alto Networks Inc., Fortinet Inc., Splunk Inc., Akamai Technologies Inc., Crowdstrike Holdings Inc., McAfee LLC, Check Point Software Technologies Ltd., Secureworks Inc., Darktrace PLC, Sumo Logic Inc., Devo Technology Inc., Symphony Technology Group, SentinelOne Inc., Tenable Inc., Exambeam Inc., LogRhythm Inc., ManageEngine, Swimlane LLC, Anvilogic Inc., Torq Labs Inc., Vanta Inc.
Table of Contents
- Executive Summary
- Security Automation Market Report Structure
- Security Automation Market Trends And Strategies
- Security Automation Market – Macro Economic Scenario
- Security Automation Market Size And Growth
…..
- Security Automation Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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