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Security Orchestration, Automation And Response (SOAR) Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players
Security Orchestration, Automation And Response (SOAR) Market
The Business Research Company offers in-depth market insights through Security Orchestration Automation And Response SOAR Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The security orchestration, automation and response (soar) market size has grown rapidly in recent years. It will grow from $1.48 billion in 2023 to $1.7 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to growing volume and complexity of cybersecurity incidents, need for rapid incident response and resolution, integration with threat intelligence platforms, shortage of cybersecurity talent, emphasis on streamlining security operations.
The security orchestration, automation and response (soar) market size is expected to see rapid growth in the next few years. It will grow to $3.13 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to expansion of threat detection and response capabilities, increased adoption by small and medium enterprises (smes), growth in cloud-based soar solutions, emphasis on cross-platform orchestration and automation. Major trends in the forecast period include threat hunting and proactive incident detection, integration of soar with security information and event management (siem), focus on user and entity behavior analytics (ueba) in soar, automation of routine security tasks and workflows, continuous improvement and optimization of soar processes.
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Market Segmentation:
The security orchestration, automation and response (soar) market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On Premises
3) By Organisation Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Threat Intelligence, Network Forensics, Incident Management, Compliance Management, Workflow Management, Other Applications
5) By End User: BFSI, Retail, Healthcare, Energy And Utilities, Government, IT And Telecommunications, Other End Users
Major Driver - Rising Cyberattacks Fueling Growth In The Security Orchestration, Automation, And Response Market
An increase in the number of cyberattacks is expected to propel the growth of the security orchestration, automation, and response market going forward. A cyberattack refers to an attack done by hackers to gain unauthorized access to a computer, computing system, or computer network with the intent to cause damage to the organization. Security orchestration helps to provide more effective security operations. It contains dozens of cyber security tools that help to prevent, detect, and remediate cyberattacks. For instance, according to Forbes, a US-based business magazine, in 2021, cyberattacks and data breaches increased by 15.1% in the US. Therefore, the increase in the number of cyberattacks is driving the security orchestration, automation, and response market growth.
Competitive Landscape:
Major companies operating in the security orchestration, automation and response (soar) market report are IBM Corporation., Cisco Systems Inc., FireEye Inc., Palo Alto Networks Inc, Swimlane LLC., Rapid7, LogRhythm Inc., Splunk Inc., DFLabs S. p. A, Cyberbit, ThreatConnect, CyberSponse Inc., D3 Security Inc., Resolve Systems LLC., Exabeam Inc., Tufin, Musarubra US LLC., Ayehu Inc., Anomali ThreatStream Inc., Fortinet Inc., Stellar Cyber Inc., Uptycs Inc., Zscaler Inc., BigPanda Inc., Demisto Inc., Niara Inc., LogicHub Inc., Lumu Technologies Inc.
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Top Trend - Tech Advancements Drive Innovation In The Security Orchestration, Automation, And Response Market
Technological advancements have emerged as a key trend gaining popularity in the security orchestration, automation, and response markets. Major companies operating in the security orchestration, automation, and response sector are focused on introducing new technologies to sustain their position. For instance, in January 2022, Revelstoke, a US-based IT company, launched a next-generation SOAR solution for automating security operations centers. This SOAR platform automates analysis, eliminates software development requirements, optimizes workflows, prevents vendor lock-in, scales processes, and gets to the root of incidents quickly.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Security Orchestration Automation And Response SOAR Market Characteristics
3. Security Orchestration Automation And Response SOAR Market Trends And Strategies
4. Security Orchestration Automation And Response SOAR Market - Macro Economic Scenario
5. Security Orchestration Automation And Response SOAR Market Size And Growth
…..
27. Security Orchestration Automation And Response SOAR Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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