The global Security Orchestration Automation & Response Market will touch USD 2,027.2 million at a 14.6% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Security orchestration automation and response (SOAR) allows organizations in collecting data from different sources and responding to safe operations from one single system sans human assistance to deal with the changing threat environment. SOAR allows various solutions in integrating with one another and automating tasks in production with the help of workflows for managing security threats and preventing further network attacks.
On the contrary, the impact of the COVID-19 impact, lack of awareness regarding SOAR and lack of security operation handlers may limit the security orchestration automation & response market growth over the forecast period.
Various factors are fuelling the global security orchestration automation and response market growth. As per the recent MRFR market estimates, such factors include the growing digitization resulting in rising vulnerabilities in data security, the need to improve detection and response activities across verticals, growing demand from various verticals like IT and telecommunications and BFSI, rising number of false alerts, and the rising digitization. The additional factors propelling market growth include the necessity to manage cyber threats, the need for improving detection and response activities, and technological advances.
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The Market Research Future report throws light on an inclusive segmental analysis of the global security orchestration automation and response market based on vertical, organization size, application, and component.
By component, the global security orchestration automation and response market is segmented into services and platform. The services segment is again segmented into managed services and professional services. Of these, the service segment will lead the market over the forecast period.
By application, the global security orchestration automation and response market is segmented into compliance management, threat intelligence, network forensics, security operations center (SOC) optimization, and others. Of these, the threat intelligence segment will dominate the market over the forecast period.
By organization size, the global security orchestration automation and response market is segmented into large enterprise and small and medium sized enterprise (SME).
By vertical, the global security orchestration automation and response market is segmented into retail, healthcare, energy and utilities, government, IT and telecom, BFSI, and others.
By region, the global security orchestration automation and response market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, North America will rule the market over the forecast period. Companies making heavy investments in research and development activities, technological advances in security orchestration and automation, increasing adoption of digital transformation to support large volumes of critical data, the presence of well-established and sustainable economies, and the presence of key players are adding to the global security orchestration automation and response market growth in the region.
In Europe, the global security orchestration automation and response market is predicted to hold the second-largest share over the forecast period. Rising need among enterprises across verticals coupled with the managed security service providers to comply with the government imposed regulations are adding to the global security orchestration automation and response market growth in the region.
In the APAC region, the global security orchestration automation and response market is likely to have admirable growth in the forecast period for the rising adoption of SOAR for security incident and response, security orchestration and automation, and threat intelligence.
The key players profiled in the global security orchestration automation and response market report include Security (US), EclecticIQ (Netherlands), ATAR Labs (Europe), Siemplify (US), Exabeam (US), Tufin (Israel), Resolve Systems (US), Ayehu Software Technologies Ltd. (US), D3 Security (US), CyberSponse (US), Cyberbit (Israel), ThreatConnect (US), DFLabs (Italy), LogRhythm, Inc. (US), Splunk Inc. (US), Rapid7 (US), Palo Alto Networks (US), Swimlane, LLC (US), FireEye Inc. (US), IBM Corporation (US), and Cisco Systems, Inc. (US), among others.
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