Security Orchestration Automation and Response Market: Global Industry Analysis and Forecast (2023-2029)

Security Orchestration Automation and Response (SOAR) Market size were valued at US$ 1.10 Bn. in 2022 and the total revenue is expected to grow at 15.5% from 2022 to 2029, reaching nearly US$ 3.01 Bn.
Market Overview:
Security orchestration, automation, and response (SOAR) is a strategy that monitors government systems to automate security processes, in particular incident response, by collecting threat data from multiple sources. Without the involvement of humans, it responds to low-level incidents. Many organizations are admitted that network complexity has increased over the past few years, and will continue to expand over the next years. So, there is a high need for network security to stop hacking and cyber-attacks to secure industrial processes.To know about the Research Methodology :- Request Free Sample Report

Security Orchestration Automation and Response SOAR solutions help to define, prioritize, standardize and automate response functions and help improve operational efficiency for security organizations.

The report explores the Security orchestration, automation, and response (SOAR) market's segments (Solution, Service, Deployment, Enterprise Size, End-Use, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). are expected to reach US$ 3.01 Bn by 2029, at a CAGR of 15.5% during a forecast period.

How does COVID-19 influence the Security Orchestration Automation and Response Market

COVID-19 has affected almost every industry, but it highly interrupts the health care industry, it impacts industry growth during the forecast period. Because patient data is some of the most valuable data to hack by hackers at the same time healthcare organization often operate highly distributed systems and networks, making them particularly defenceless to attack SOAR can help with healthcare’s ongoing security labour shortage. Allows security staff to focus less on repetitive tasks and more on digital surveillance and threat hunting.
Security Orchestration Automation and Response Market Dynamics:
Security Orchestration Automation and Response Market Drivers:

The key factor driving the Security Orchestration, Automation and Response (SOAR) market by automating repetitive tasks and consistently checking data because this increases speed and team morale. Employees can spend more time focusing on only those most impactful threats. Security Orchestration, Automation and Response (SOAR) machine and data-driven workflow significantly reduce the chances of human error.

Security Orchestration, Automation and Response (SOAR) Restraint:

The lack of security skills within an organization is the most glaring issue. Managing many disparate security technologies can place a huge strain on security employees. Not only are systems in need of constant monitoring to ensure their ongoing integrity and performance, but the thousands of daily alarms they generate can also lead to alert fatigue. This is exacerbated by constant switching between multiple systems, which costs the team’s time and effort and increases the risks of mistakes being made.

Security Orchestration, Automation and Response (SOAR) challenge:

The main challenge or obstacle to the adoption of SOAR is the low maturity of processes and procedures within the SOC (security operation centre) team. Organisations are at risk of failing to gain the results they need from SOAR due to a failure to clearly define their parameters for success. It is important to understand the scope of what they are trying to automate.

Security Orchestration, Automation and Response (SOAR) trends:

Big Data requires Big Automation: Customers are beginning to require automation that causes greater and harder to reach telemetry this will change with the future class of security automation solutions.

Integrate with Anything: As the attack surface continues to develop, security teams need to integrate with things that aren’t traditionally integrated like cloud, IoT, and edge computing.

Democratized Automation: Security automation has the potential to solve countless problems, but it will never reach its full potential if automation continues to be an ability that’s only accessible to the most highly skilled security professionals. Low-code security automation changes this, making security automation more approachable so that domain experts can become automated, without sacrificing power or performance.
Security Orchestration Automation and Response Market Segment Analysis:
By deployment mode: Cloud computing is anticipated to dominate the market. Due to modernization and after covid-19 cloud adoption is increasing in IT and other service and security sectors. because of cloud adoption, online data can be hacked by hackers. Due to the increase in hacking issues to protect cloud environments against hackers, security orchestration, automation and response technology need to make advances in the world of cloud computing.

SIRP’s no-code, risk-based SOAR platform accelerates SOAR adoption in the cloud. In addition, it also provides streamlined reporting, a world-class security scoring engine, and powerful case management and playbook modules. These capabilities empower organizations to optimize threat hunting, prioritize response at scale, and strengthen their security posture.Security Orchestration Automation and Response by Components:
In terms of global security orchestration automation and response market segmentation, the services segment is projected to develop faster than any other in the coming years, based on components. The threat analysis sector is predicted to lead the worldwide demand for security orchestration automation and response in terms of application. Professional and managed security services are the two main categories of security services available.

To manage security warnings and prevent further attacks, these systems are implemented in public and private businesses. This has opened new security orchestration automation and response market opportunities and led to rapid growth.Security Orchestration Automation and Response by Applications:

Threat intelligence solutions collect and analyse information about current and evolving threat vectors from multiple sources to provide actionable threat intelligence feeds and reports, which can be effectively utilized by many security control solutions. Such solutions keep organizations informed of the risks of Advanced Persistent Threats (APTs), zero-day attacks, and threats, and aid protects themselves against the possibilities of data breach occurrences.
Security Orchestration Automation and Response Market Regional Insights:
The North American market is expected to grow substantially during the forecast period. The North American region has maintainable and well-established economies, which empower it to invest significantly in R&D activities, thus contributing to the development of new technologies. In security orchestration and automation according to a report by CPR no of cyberattacks increased by 50% in 2021 observed that north America witnessed the highest increase no of cyberattacks in 2021 which increased by 60% from 2020. The increasing cyberattack is giving a wakeup call to different organisations by using new innovative technology such as Security Orchestration Automation and Response (SOAR) to prevent the attack and guard their valuable data.

The objective of the report is to present a comprehensive analysis of the Security Orchestration Automation and Response Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Security Orchestration Automation and Response Market dynamics, and structure by analyzing the market segments and projecting the Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Security Orchestration Automation and Response Market make the report investor’s guide.
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Global Security Orchestration Automation and Response Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.10 Bn.


Forecast Period 2023 to 2029 CAGR:
15.5 %
Market Size in 2029:
US $ 3.01 Bn.


 Segments Covered:
by Deployment model
Cloud Base
On Premises
Others


by Components
Solution
Service


by Application
Threat Intelligence
Network Forensics
Incident Management
Compliance Management
Workflow Management
Other



Security Orchestration Automation and Response Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Security Orchestration Automation and Response Market Key Players
1. BM (US)
2. Cisco (US)
3. Rapid7 (US)
4. Palo Alto Networks (US)
5. Splunk (US)
6. Swimlane (US)
7. Tufin (US)
8. Fortinet (US)
9. ThreatConnect (US)
10.Trellix (US)
11.Sumo Logic (US)
12.Siemplify (US)
13.LogRhythm (US)
14.Resolve (US)
15.Exabeam (US)
16.manageEngine (US)
17.KnowBe4 (US)
18.D3 Security (Canada)
19.Qvine (US)
20.Cyware (US)
21.LogicHub (US)
22.Cyberbit (US)
23.Logsign (Netherland)
24.SIRP (UK)
25.Tines (Ireland)

Frequently Asked Questions:
1. What is the forecast period considered for the Security Orchestration Automation and Response Market report?
Ans. The forecast period for the Market is 2023-2029.

2. Which key factors are hindering the growth of the Security Orchestration Automation and Response Market?
Ans. The lack of security skills within an organization this factor if hindering market growth.

3. What is the compound annual growth rate (CAGR) of the Market for the forecast period?
Ans. 15.5 % is the compound annule growth rate CAGR of the Market.

4. What are the key factors driving the growth of the Security Orchestration Automation and Response Market?
Ans. automating repetitive tasks and consistently checking data because this increases speed and team morale. This key factor driving the market.

5. Which are the worldwide major key players covered for the Security Orchestration Automation and Response Market report?
Ans. BM (US), Cisco (US), Rapid7 (US), Palo Alto Networks (US), Splunk (US), Swimlane (US), Tufin (US)