Security Orchestration, Automation And Response (Soar) Software Market is Expected to Reach US$ 8.3 Bn by the End of 2031-Demisto, CloudGuard, SIRP, D3 Security, Intezer, Swimlane, ThreatConnect, IBM, Siemplify, ServiceNow, Tripwire, Splunk

The global Security Orchestration, Automation and Response (SOAR) market size is expected to grow from an estimated value of USD 0.14 billion in 2022 to USD 8.3 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 23.8% from 2022 to 2032. Growing incidents of phishing emails and ransomware is driving the market growth but lack of modern IT infrastructure may hinder this growth.
The Security Orchestration, Automation And Response (Soar) Software market is globally one of the leading markets involving innovative techniques development and extremely categorized sector. After a thorough investigation conducted over the industries under Security Orchestration, Automation And Response (Soar) Software market, the market report delivers in-depth information, based on the data related to export and import along with the ongoing industry trends in the global market.

Key Players Profiled In the Report Includes

The major players covered in the Security Orchestration, Automation And Response (Soar) Software report are Demisto, CloudGuard, SIRP, D3 Security, Intezer, Swimlane, ThreatConnect, IBM, Siemplify, ServiceNow, Tripwire, Splunk

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By application, the network forensics segment to hold the largest market size during the forecast period
Network forensics is the sub-branch of digital forensics that manages, monitors, and analyzes computer network traffic to identify intrusions and cyberattacks. It helps identify unauthorized access to computer systems. The main aim of network forensics is to record network traffic and provide a centralized analysis of network data to enable organizations to secure their data and applications from sophisticated cyberattacks. Computer professionals and security orchestration vendors are integrating security orchestration solutions with advanced network forensic capabilities that help accelerate network traffic investigation, prioritize threats, and resolve security incidents with less time and minimal efforts.

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Recent Development
In May 2022, Bugcrowd collaborated with IBM to Connect to SOAR Space with IBM Resilient Integration. IBM Resilient is a security orchestration, automation, and response system used by security teams.
In May 2022, Palo Alto Networks announced collaboration with Cohesity. Palo Alto Network will integrate its SOAR platform with Cohesity's AI data management platform to greatly lower customers' ransomware risk.
In March 2022, Ridge Security and Splunk partnered to accelerate the speed of response. The effectiveness of security staff with resilient defenses will be strengthened by integrating RidgeBot's API into Splunk SOAR.
In July 2021, Rapid7 acquired Threat Intelligence Leader IntSights. This acquisition leads to integrations between the IntSights External Threat Protection Suite and Rapid7's Insight portfolio.

Security Orchestration, Automation And Response (Soar) Software Market

Cloud Based, On-Premises.

Application as below

Large Enterprises, SMEs

Market USP Exclusively Encompassed:
SOAR Market Drivers
The scarcity of security professionals and rising adoption of SOAR platforms are major trends in the market. Since SOAR fills the gap between security professionals and the vastly evolving threat landscape, enterprises are likely to extensively adopt these solutions in the years to come. Besides, the growing digitization leading to increasing vulnerabilities in data security is a major factor influencing the security orchestration and automation market growth.

Integration of SOAR solutions with cyber platforms is another key industry trend, allowing security analysts to receive additional contextual information in case of an incident prioritization to create an attack path toward a critical asset. The need to manage cyber threats and improve detection and response activities across verticals are other key factors boosting the SOAR market size.

Also, the adoption of more intelligent devices contributes the market growth, addressing the issues associated with bandwidth and latency and enterprise maturation. Conversely, the lack of awareness regarding SOAR is a major factor impeding the growth of this market. Nevertheless, the rising adoption of cloud services, business IoT specialists, and the most reliable IoT network would support the market during the assessment period.

Segmentation of Market Covered in the Research:
The SOAR market forecast is segmented into components, applications, organization size, verticals, and regions. The component segment is sub-segmented into platforms and services. The service segment is categorized into professional and managed services.

The application segment is sub-segmented into security operations center (SOC) optimization, network forensics, threat intelligence, compliance management, and others. The organization size segment is sub-segmented into small and medium-sized enterprises (SMEs) and large enterprises.

The vertical segment is sub-segmented into banking, financial services and insurance, IT & telecom, government, energy and utilities, healthcare, retail and others. The region segment is sub-segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Rest-of-the-World.

The Security Orchestration, Automation And Response (Soar) Software Report Supports the Facts Below:

Regional Analysis
North America dominates the global security orchestration automation and response market. The region witnesses vast R&D investments for the advancement of security orchestration and automation technologies. Besides, the presence of a number of SOAR providers and state-of-the-art development centers in the region propel the growth of the market. With the high digitization to support large volumes of critical data needing SOAR platforms, the US leads the regional market.

Europe holds the second-best position globally in terms of security orchestration automation and response market revenue. The market growth is driven by the rising need among enterprises across industries and managed security service providers to comply with regulations imposed by governments. Additionally, the increasing digitalization and automation across industry verticals and Internet connectivity with high reliability in this region boost the security orchestration and automation market size.

The Asia Pacific region is witnessing a spurring rise in security orchestration automation and response market value. Factors such as the growing adoption of SOAR for security response incidents and security orchestration and automation threat intelligence are key growth drivers for the market. Furthermore, the adoption of 5G technology and AI/ML acceleration increases the region's SOAR market shares.

Competitive Analysis
The security orchestration automation and response market would witness various strategic approaches, such as collaboration, expansion, mergers & acquisitions, and advanced technologies integration. Major industry players make strategic investments in driving research and development activities and fostering their expansion plans.

For instance, recently, on May 04, 2021, XM Cyber, a leader in Attack-Centric Exposure Prioritization, announced the new integration with Palo Alto Network's Cortex XSOAR security orchestration automation and response (SOAR) platform. The new integration allows one-click access in the Cortex XSOAR Marketplace with risk-free attack simulation.

In another instance, on May 03, 2021, Securonix, Inc., a leader in Next-Gen SIEM, announced winning the Best SIEM solution award for its next-gen SIEM platform. The company is recognized as a Trust Award Winner for cloud-first SIEM serving hybrid and multi-cloud organizations.

Note - To provide a more accurate market forecast, all our reports will be updated prior to delivery considering the impact of COVID-19.

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