Global Security Orchestration, Automation And Response Market 2024 : Trends, Business Growth And Major Driving Factors | The International Business Machines Corporation, ServiceNow Inc

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Security Orchestration, Automation And Response Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $2.94 Bn In 2028 At A CAGR Of 14.8% :

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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Security Orchestration, Automation And Response Market Major Segments
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

Key Driver - Increasing Cybersecurity Threats Driving Growth In The Security Orchestration, Automation, And Response Market

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.

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Prominent Trend - Introducing Advanced Solutions To Enhance Security Operations Center Efficiency

Major companies operating in the security orchestration, automation, and response market are concentrating on new innovations, such as ThreatAdvisor 3.0, a security orchestration, automation, and response (SOAR) platform, to address the increasing volume and velocity of security threats and events. It is designed to improve the speed, efficiency, and accuracy of its Security Operations Center (SOC) with SOAR technology. For instance, in November 2023, DirectDefense, a US-based provider of information security and managed services, launched ThreatAdvisor 3.0, a proprietary security orchestration, automation, and response (SOAR) platform. This innovative solution streamlines the security operations center (SOC) by continuously monitoring and managing security threats, automating manual processes, and leveraging an extensive knowledge base for compliance, security events, and mitigation techniques. Additionally, it offers a customer-facing dashboard to provide a holistic view of an organization's security posture and integrates with other solutions to provide a single interface for threat management.

Security Orchestration, Automation And Response Market 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

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Largest And Fastest Growing Region In The Market
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.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Security Orchestration, Automation And Response Market Report Structure
3. Security Orchestration, Automation And Response Market Trends And Strategies
4. Security Orchestration, Automation And Response Market - Macro Economic Scenario
5. Security Orchestration, Automation And Response Market Size And Growth
…..
27. Security Orchestration, Automation And Response Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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