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The Security Orchestration Automation Response (SOAR) Market size is estimated to grow at a CAGR of 15.8% between 2022 and 2027. The market size is forecast to increase by USD 1,244.96 million. The growth of the market depends on several factors, including the rising frequency and sophistication of cyberattacks, the stringent data protection regulations, and the growing adoption of cloud computing. Security orchestration automation response (SOAR) is software that allows security teams to bring together and orchestrate disparate tools into a unified threat response workflow. In large companies, SOCs rely on a variety of tools to monitor and respond to cyberattacks.
This security orchestration automation response market report extensively covers market segmentation by deployment (cloud and on-premises), application (network forensics, threat intelligence, incident management, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the security orchestration automation response market growth is the rising frequency and sophistication of cyberattacks. Some of the factors that are significantly contributing to the growth of the global security orchestration automation response market are the growing frequency and sophistication of cyberattacks. As a result, there is increasing focus across organizations on the need for strong network security measures as hostile actors develop cutting-edge approaches.
Moreover, there is a significant investment by several prominent companies including Cisco and Palo Alto in cutting-edge SOAR solutions to protect their networks from growing cyber threats. The main advantage of these software solutions includes enhanced threat detection, prevention, and response capabilities, giving organizations the tools they need to effectively reduce risks. Hence, such factors are positively impacting the security orchestration automation response market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the security orchestration automation response market growth is the adoption of a hybrid model. There are several issues associated with the cloud-based SOAR solutions including confidential data loss, such as the financial information of a customer. As a result, market players are now launching hybrid deployment models in order to overcome such issues.
Moreover, there is an increasing adoption of hybrid deployment models by small-scale industries to ensure on-premises data protection without the requirement for a skilled worker, thus, lowering their total cost of ownership. The main advantage of hybrid SOAR solutions is that they follow the pay-per-use model and are less expensive when compared with traditional full-license security solutions. Hence, such factors are positively impacting the security orchestration automation response (SOAR) market. Therefore, it is expected to drive the market growth during the forecast period.
The high cost of deployment is one of the key challenges hindering the security orchestration automation response market growth. The overall installation cost of the security orchestration automation response comprises the cost of software licensing, system designing and customization, implementation, training, and maintenance for an individual organization. Additionally, the proper implementation of SOAR software in enterprises requires skilled IT staff which incurs additional costs.
Moreover, it is essential to provide sufficient training for the existing employees regarding the functioning of SOAR solutions. Furthermore, there is a crucial requirement of in-house IT administration staff for maintenance as well as to manage and control issues which leads to high implementation costs. Hence, such factors are negatively impacting the security orchestration automation response (SOAR) market. Therefore, it is expected to hinder the market growth during the forecast period.
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 414.28 million in 2017. 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.
The rising incidence of cybercrime will fuel network forensics which in turn will drive the market growth during the forecast period. Network Forensics can be referred to as a field of study that focuses on the identification and retrieval of data associated with cybercrime in a networked context. There is an increasing adoption of SOAR for network forensics as SOAR's orchestration capability enables the computer security incident response teams (CSIRTs) to integrate multiple tools in a single, centralized location and to manage cyber forensic investigations with a unified dashboard. Furthermore, one of the main features of SOAR is automation which automates incident response processes and several other security measures that lead to minimal human involvement. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the global security orchestration automation response 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.
In 2020, during the COVID-19 pandemic, the growth of the global security orchestration automation response market witnessed significant growth due to changes in the work scenario of end-users, particularly in the ICT sector, by making their employees work from home, which further generated the need for SOAR solutions. in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in organizations. Such factors are expected to drive the market during the forecast period.
The security orchestration automation response market report includes the adoption lifecycle of the market, 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 growth strategies.
Global Security Orchestration Automation Response Market Customer Landscape
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.
Alphabet Inc: The company offers security orchestration automation response solutions through its subsidiary Siemplify a SOAR provider focused on security operations for enterprises and MSSPs.
Cisco Systems Inc: The company offers security orchestration automation response solutions namely Cisco SecureX.
Exabeam Inc: The company offers security orchestration automation response solutions such as the SIEM platform, including security case management, integration with third-party tools, security orchestration, and security playbooks for fully automated incident response.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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 security orchestration automation response market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Security Orchestration Automation Response Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.8% |
Market growth 2023-2027 |
USD 1,244.96 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.16 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East, and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, China, Japan, UK, 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, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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