Overview and Scope
Security orchestration, automation, and response (SOAR) refers to a set of practices, processes, and technologies that enable organizations to streamline their cybersecurity operations. This technology is developed to integrate various security technologies and systems, automate repetitive processes, and orchestrate workflows to increase the efficiency and efficacy of incident detection, analysis, and remediation.
Sizing and Forecast
The security orchestration, automation, and response market size has grown rapidly in recent years. It will grow from $1.47 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increasing volume and complexity of cyber threats, shortage of skilled security personnel, complexity of security environments, compliance and regulatory requirements, need for rapid incident response, and continuous improvement and adaptation.
The security orchestration, automation, and response market size is expected to see rapid growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to AI and machine learning integration, zero trust security model, cloud security orchestration, IoT security management, and threat intelligence sharing. Major trends in the forecast period include enhanced AI and machine learning integration, expansion of cloud-native orchestration and automation, and focus on zero trust security principles.
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The security orchestration, automation and response market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Application: Threat Intelligence, Network Forensics, Incident Response, Compliance, Other Applications
4) By Vertical: Banking Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Retail And E-commerce, Healthcare, Manufacturing, Government, Education, Other Verticals
North America was the largest region in the security orchestration, automation, and response market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security orchestration, automation and response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing cybersecurity threats are expected to propel the growth of the security orchestration, automation, and response market going forward. Cybersecurity threats refer to malicious activities or events that pose a risk to the confidentiality, integrity, or availability of information systems, networks, and data. It arises due to rapidly evolving threat landscape, growing dependence on digital infrastructure, and a lack of cybersecurity awareness and education. Security orchestration, automation, and response (SOAR) is used in cybersecurity to enhance the efficiency, effectiveness, and speed of incident response processes and improve their overall security posture and resilience against cyber threats. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, in 2022, cyber crime reports received were 76,000, up from 13% from the previous year. Therefore, the increasing cybersecurity threats are driving the growth of the security orchestration, automation, and response market.
Key Industry Players
Major companies operating in the security orchestration, automation and response market are The International Business Machines Corporation, ServiceNow Inc., Palo Alto Networks (Demisto), Splunk, McAfee LLC, Fortinet Inc., Rapid7 Inc., Check Point Software Technologies Ltd., Qualys Inc., Tanium, Forescout Technologies Inc., SentinelOne Inc., Recorded Future inc., LogRhythm Inc., Securonix Inc., Exabeam Inc., Anomali ThreatStream Inc., Tines, SafeBreach Inc., Resolve Systems Inc., ThreatConnect Inc., Thycotic Centrify Corporation, Gurucul solutions private Ltd., Syncurity IR Flow Vorporation, Siemplify
The security orchestration, automation and response market report table of contents includes:
1. Executive Summary
2. Security Orchestration, Automation And Response Characteristics
3. Security Orchestration, Automation And Response Trends And Strategies
4. Security Orchestration, Automation And Response – Macro Economic Scenario
5. Global Security Orchestration, Automation And Response Size and Growth
…..
32. Global Security Orchestration, Automation And Response Competitive Benchmarking
33. Global Security Orchestration, Automation And Response Competitive Dashboard
34. Key Mergers And Acquisitions In The Security Orchestration, Automation And Response
35. Security Orchestration, Automation And Response Future Outlook and Potential Analysis
36. Appendix
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