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The Security Orchestration Automation Response (SOAR) market size is forecast to increase by USD 1.97 billion, at a CAGR of 20% between 2023 and 2028. Market growth is influenced by several factors, notably the increasing frequency and complexity of cyberattacks, driving the need for strong cybersecurity solutions. Stringent data protection regulations further impact market dynamics, necessitating compliance measures, and innovative data security strategies. Additionally, the widespread adoption of cloud computing technologies contributes significantly to market expansion, offering scalable and flexible solutions for data storage and management. This trend reflects a broader shift towards digital transformation and cybersecurity resilience across industries. As businesses navigate the challenges posed by cyber threats and regulatory requirements, the market for cybersecurity solutions continues to evolve, emphasizing the importance of proactive measures, advanced technologies, and regulatory compliance in safeguarding sensitive information and mitigating cyber risks
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about key companies, including Cisco Systems Inc., Cyware Labs Inc., Exabeam Inc., Fortinet Inc., Innotim Yazilim LLC, International Business Machines Corp., LogRhythm Inc., Musarubra US LLC, Palo Alto Networks Inc., Qi Anxin Technology Group Co. Ltd., Rapid7 Inc., Resolve Systems LLC, SIRP Labs Ltd., Splunk Inc., Sumo Logic Inc., Swimlane Inc., ThreatConnect Inc., Tufin, and Zoho Corp. Pvt. Ltd.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The cloud segment is estimated to witness significant growth during the forecast period. There is an increase in demand for cloud-based SOAR across enterprises as it is less expensive when compared to on-premises solutions. Additionally, the main advantage of this segment is that it does not need actual installation of hardware and software and can be maintained at the company data center, from where it can be accessed by organizations on a subscription basis.
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The cloud segment was the largest segment and was valued at USD 469.50 million in 2018. In this segment, the organizations pay a monthly subscription fee for each device, which comprises maintenance and system upgrades as well. As a result, this segment is extensively used across SMEs in order to streamline and automate their operations and minimize errors at low costs. The main advantage of cloud-based SOAR, which fuels its adoption across enterprises, is its easier deployment as it is less time-consuming when compared to on-premises SOAR. Additionally, organizations are not required to spend more time on setting up servers and procuring licenses for cloud-based SOAR. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
North America is estimated to contribute 42% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Some of the main factors that are significantly contributing to the growth of the global market in North America include the increased adoption of SOAR solutions by end-user industries, the shift of conventional IT services to internet-based IT systems, growth of end-user industries, increased government initiatives for the implementation of SOAR solutions, and the growing number of IT companies and IT startups. One of the main countries in North America which are significantly contributing to the market growth is the US. Furthermore, the increasing number of startups is also positively impacting the market growth in the region. Hence, such factors are expected to drive market growth in North America during the forecast period.
Security Orchestration Automation (SOA) is revolutionizing the cybersecurity landscape by streamlining incident response and enhancing threat intelligence. SOA solutions enable seamless integration of various security tools and processes, providing a centralized platform for security teams to manage and respond to threats in real-time. The Security Orchestration Automation Response market is witnessing significant growth due to the increasing number of cyber threats and the need for efficient response mechanisms. The market is driven by factors such as the growing adoption of cloud computing, the rise of advanced persistent threats, and the increasing focus on threat intelligence and incident response. Security Orchestration Automation solutions offer numerous benefits, including improved threat visibility, faster response times, reduced false positives, and enhanced collaboration between security teams. These solutions also help organizations comply with various regulatory requirements and industry standards. The Security Orchestration Automation Response market is expected to continue its growth trajectory in the coming years, driven by the increasing adoption of SOA solutions by organizations across industries and regions. The market is highly competitive, with several key players offering innovative solutions to meet the evolving needs of customers. Security teams are increasingly relying on Security Orchestration Automation solutions to manage and respond to threats effectively and efficiently. With the growing complexity of the threat landscape and the increasing volume of security alerts, SOA solutions are becoming essential tools for organizations looking to strengthen their cybersecurity posture.
The rising frequency and sophistication of cyberattacks is notably driving the market growth. The Phishing problem in the digital landscape continues to escalate, necessitating the adoption of advanced Security Orchestration Automation Response (SOAR) solutions by modern businesses. These organizations recognize the importance of fortifying their IT infrastructure against the increasing sophistication of cyber-threats. Service providers such as Cisco and Palo Alto are investing heavily in automation playbooks to offer businesses improved threat detection, prevention, and response capabilities. Outsourcing of SOAR services to these providers can help mitigate hidden costs and ensure a high quality of service. However, cultural and political values may influence the decision-making process for some organizations. The Cybersecurity industry is grappling with a significant skill gap, making the expertise of IT analysts and security teams invaluable. Network forensics and digital forensics are essential components of SOAR, enabling the analysis of computer network traffic and identifying Security incidents. Unauthorized access and data breaches pose significant risks to businesses, necessitating the need for automated threat detection and alert fatigue management. Compliance management, workflow management, and response procedures are crucial aspects of SOAR, ensuring that Security monitoring teams can effectively manage security risks.
Moreover, patch management is another essential function, mitigating vulnerabilities and reducing the likelihood of cyberattacks. End-use industries such as IT & telecommunications and Healthcare are particularly vulnerable to cyber threats and have been early adopters of SOAR solutions. Large enterprises and SMEs alike are recognizing the benefits of SOAR, with Cloud-based and On-premise solutions catering to varying business needs. Threat intelligence and Patch management are integral components of SOAR, enabling organizations to stay informed about emerging cyber threats and proactively address vulnerabilities. SOAR solutions offer modern businesses the tools they need to effectively reduce risks and protect their precious assets from potential breaches and data compromises. Thus, such factors are driving the growth of the market during the forecast period.
The adoption of hybrid model is the key trend in the market. In the ever-evolving landscape of the cybersecurity industry, organizations face numerous challenges in mitigating cyber-threats, ensuring compliance, and managing security incidents. Traditional deployment models for Security Orchestration Automation and Response (SOAR) solutions have been on-premises and cloud-based. While cloud-based SOAR solutions offer cost savings, they have raised concerns regarding data confidentiality, particularly in the context of financial information. To address these challenges, hybrid deployment models have emerged, combining the benefits of on-premises and cloud-based solutions. These models enable modern businesses, including small and medium-sized enterprises (SMEs), to safeguard their on-premises data without the need for a large IT workforce. Hybrid SOAR solutions follow a pay-per-use model, making them more affordable compared to traditional full-license security solutions. Phishing attacks pose a significant problem for businesses, necessitating the use of automation playbooks to streamline response procedures. Outsourcing security services to service providers can help mitigate the cybersecurity skill gap and reduce hidden costs.
However, the quality of service provided by these service providers can vary, influenced by cultural and political values. In the context of the cybersecurity industry, cyberattacks, unauthorized access, and network data breaches continue to pose significant risks. End-use industries, such as IT & telecommunications and healthcare, are particularly vulnerable to these threats. Network security forensics and digital forensics play a crucial role in identifying and responding to security incidents. Automated threat detection and alert fatigue are common challenges faced by security teams. Threat intelligence and compliance management are essential components of a vital security strategy. Workflow management and response procedures help streamline the process of security monitoring and patch management. IT analysts play a vital role in implementing and maintaining these solutions. Large enterprises and SMEs alike are adopting SOAR solutions to enhance their cybersecurity posture. While cloud-based SOAR solutions offer cost savings, on-premise SOAR solutions provide greater control and customization. Hybrid deployment models offer the best of both worlds, enabling organizations to balance cost, control, and security effectively. Thus, such trends will shape the growth of the market during the forecast period.
The high cost of deployment is the major challenge that affects the growth of the market. The Security Orchestration Automation Response (SOAR) market faces a significant hurdle in the form of substantial deployment costs for organizations. This expense encompasses software licensing, system architecture and customization, implementation, employee training, and maintenance. Hiring IT personnel for SOAR software implementation adds to the financial burden. Moreover, existing staff must be educated on SOAR solution functionality. Maintaining on-premises SOAR solutions necessitates in-house IT administration, leading to increased implementation costs. SOAR solutions also conceal additional expenses, such as acquiring expertise and experience to effectively utilize the technology. Phishing attacks pose a significant threat in the cybersecurity landscape, necessitating the use of automation playbooks for swift response. Outsourcing SOAR services to a service provider can mitigate hidden costs and ensure a high quality of service. Cultural and political values within organizations and industries influence the adoption of SOAR solutions. Modern businesses, particularly those in the IT infrastructure, IT & telecommunications, healthcare, and cloud-based sectors, grapple with cyber-threats like unauthorized access, network data breaches, and security incidents.
Further, cybersecurity positions are in high demand due to the cybersecurity skill gap. Automated threat detection, alert fatigue, and response procedures are essential for security teams to manage cyber risks effectively. Threat intelligence, compliance management, workflow management, and patch management are crucial components of SOAR solutions. Security monitoring teams require these features to mitigate security risks and ensure effective incident response. End-use industries, including large enterprises and Small and Medium-sized Enterprises (SMEs), benefit from SOAR solutions' ability to streamline security operations and improve overall IT security posture. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
The Security Orchestration Automation Response (SOAR) market is a significant segment in the cybersecurity industry, addressing the challenges faced by modern businesses in managing and mitigating cyber-threats. Automation playbooks are essential tools in this market, enabling service providers to outsource threat detection and response services while maintaining quality of service. Hidden costs, such as patch management and compliance management, are crucial considerations for businesses in selecting a service provider. Cultural and political values play a role in the adoption of SOAR solutions, with cybersecurity positions requiring a high level of computer professional skills to navigate network forensics, digital forensics, and computer network traffic. The cybersecurity skill gap is a pressing issue, necessitating the use of automated threat detection and alert fatigue management to reduce the workload on security teams. Threat intelligence and workflow management are integral components of SOAR solutions, enabling response procedures and security monitoring teams to effectively manage security risks.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20% |
Market growth 2024-2028 |
USD 1.97 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
16.4 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, UK, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Cisco Systems Inc., Cyware Labs Inc., Exabeam Inc., Fortinet Inc., Innotim Yazilim LLC, International Business Machines Corp., LogRhythm Inc., Musarubra US LLC, Palo Alto Networks Inc., Qi Anxin Technology Group Co. Ltd., Rapid7 Inc., Resolve Systems LLC, SIRP Labs Ltd., Splunk Inc., Sumo Logic Inc., Swimlane Inc., ThreatConnect Inc., Tufin, and Zoho Corp. Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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