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Security Orchestration, Automation, and Response (SOAR) Market Report Scope & Overview:

The Security Orchestration, Automation, and Response (SOAR) Market size was valued at USD 1.27 Billion in 2023 and is expected to reach USD 4.14 Billion by 2031 and grow at a CAGR of 15.9% over the forecast period 2024-2031.

SOAR is a collection of diverse technologies that enable businesses to collect data and security alerts from a variety of sources. Enterprises use these tools and services to prioritize incident response (IR) tasks by performing threat analysis and remediation procedures. Enterprises may create response protocols and undertake threat assessments in a systematic digital workflow structure using SOAR technologies, leading to the automation of different machine-driven tasks. SOAR merges three formerly distinct technological sectors: security orchestration and automation, threat intelligence, and incident response. Because the number of security specialists is limited, organizations are projected to experience a rising scarcity of security professionals in the next years.

Security Orchestration, Automation, and Response (SOAR) Market Revenue Analysis

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SOAR bridges this gap, and as a consequence, businesses are more likely to implement these solutions in the coming years. Growing digitalization, which leads to increased risks in data security, is a primary driver driving market expansion. Other significant reasons driving the global SOAR market are the requirement for a comprehensive picture of cyber threats and the need to improve detection and response efforts across verticals. Furthermore, the lack of understanding about SOAR is projected to be a barrier to the market's growth.

MARKET DYNAMICS:

KEY DRIVERS:

  • Instances of phishing emails and ransomware are increasing.

  • SOAR assists security forces in combating alert fatigue.

RESTRAINTS:

  • Lack of confidence in third-party applications.

OPPORTUNITY:

  • SOAR addresses the scarcity of qualified cybersecurity personnel.

  • SOAR solutions driven by ML/AI are being introduced.

CHALLENGES:

  • Inadequate contemporary IT infrastructure.

IMPACT OF COVID-19:

During a pandemic, digital transformation accelerates across BFSI, IT and ITeS, healthcare, and other industries. The adoption of remote work has resulted in increased online and cloud traffic, which has increased the demand for cybersecurity and security orchestration, automation, and response security across all industries. Due of the COVID-19 pandemic in 2020, organizations are expanding their use of security orchestration, automation, and reaction security to combat different cyber threats and assaults.

MARKET ESTIMATION:

According to security orchestration automation and response market data, the services segment is predicted to grow at a quicker CAGR than the solutions segment during the forecast period. The security orchestration automation and response platform enable various solutions to collaborate and automate operations across products through workflows while still allowing for human engagement. These systems are used in public and commercial enterprises to monitor security warnings and prevent additional attacks. This has created a new market potential for security orchestration automation and response, resulting in significant development. As cyberattack vectors get more sophisticated, organizations are embracing security services to handle rising risks in a continuously evolving threat scenario. Based on components, the services category is expected to grow faster than any other in the worldwide security orchestration automation and response market in the coming years.

By deployment, the cloud sector of the security orchestration automation and response market is predicted to have a larger market share than the on-premises segment. As the whole ecosystem migrates to the cloud from on-premises conventional ways, organizations are embracing cloud security solutions such as security orchestration automation and response to view threats in a consolidated manner and collaborate on remediation activities. Cloud technologies may automate the entire process, relieving security analysts of monitoring responsibilities and enabling them to focus on more pressing issues. This has considerably enhanced the usage of security orchestration automation and response.

Network forensics is a sub-discipline of digital forensics that maintains, monitors, and analyses computer network traffic in order to detect breaches and cyberattacks. It aids in the detection of illicit computer system access. The primary goal of network forensics is to capture network traffic and provide centralized network data analysis to help enterprises protect their data and applications against sophisticated assaults. Security orchestration providers and computer experts are merging security orchestration systems with advanced network forensic capabilities to assist expedite network traffic investigation, prioritizing threats, and addressing security events with less time and effort.

KEY MARKET SEGMENTS:

On The Basis of Component

  • Solution

  • Services

On The Basis of Organization Size

  • Small & Medium Enterprises

  • Large Enterprises

On The Basis of Deployment Mode

  • Cloud

  • On-Premises

On The Basis of Application

  • Threat Intelligence

  • Network Forensics

  • Incident Management

  • Compliance Management

  • Workflow Management

  • Others

On The Basis of Vertical

  • BFSI

  • Government

  • Energy & Utilities

  • Healthcare

  • Retail

  • IT & Telecom

  • Others

REGIONAL ANALYSIS:

North America has the greatest market share because enterprises in this area invest heavily in R&D, resulting in the growth of technology in security orchestration and automation. Because of its strong adoption of digital transformation to handle massive amounts of essential data, the United States leads the market in North America; as a result, the country's need for SOAR platforms is the largest. Due to the increasing demand among companies across sectors and managed security service providers to comply with government laws, Europe is predicted to be the second-largest market throughout the study period. During the projection period, Asia-Pacific is expected to be the fastest-growing market in the worldwide SOAR market.

Security-Orchestration-Automation-and-Response-SOAR-Market-By-Region

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REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Cisco Systems, Inc., IBM Corporation, FireEye Inc., Swimlane LLC, Palo Alto Networks, Rapid7, Splunk Inc., LogRhythm, Inc., DFLabs, ThreatConnect & Other Players.

FireEye Inc-Company Financial Analysis

Company Landscape Analysis

Security Orchestration, Automation, and Response (SOAR) Market Report Scope:
Report Attributes Details
 Market Size in 2023

 US$ 1.27 Bn

 Market Size by 2031

 US$ 4.14 Bn

 CAGR 

 CAGR of 15.9% From 2024 to 2031

 Base Year

 2023

 Forecast Period

 2024-2031

 Historical Data

 2020-2022

 Report Scope & Coverage

Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook

 Key Segments

• By Component (Solution and Services)
• By Organization Size (Small & Medium Enterprises and Large Enterprises)
• By Deployment Model (Cloud, and On-Premises)
• By Application (Threat Intelligence, Network Forensics, Incident Management, Compliance Management, Workflow Management, Others)
• By Vertical (BFSI, Government, Energy & Utilities, Healthcare, Retail, IT & Telecom, Others)

 Regional Analysis/Coverage

North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

 Company Profiles

Cisco Systems, Inc., IBM Corporation, FireEye Inc., Swimlane, LLC, Palo Alto Networks, Rapid7, Splunk Inc., LogRhythm, Inc., DFLabs, ThreatConnect

 Key Drivers

• Instances of phishing emails and ransomware are increasing
• SOAR assists security forces in combating alert fatigue

 Market Opportunities

• SOAR addresses the scarcity of qualified cybersecurity personnel
•  SOAR solutions driven by ML/AI are being introduced

 

Frequently Asked Questions

Ans: The Security Orchestration, Automation, and Response (SOAR) Market is to grow at a CAGR of 15.9% during the forecast period 2024-2031.

Ans: North America region dominated the Security Orchestration, Automation, and Response (SOAR) Market.

Ans: The market size of the Security Orchestration, Automation, and Response (SOAR) Market is expected to reach USD 4.14 Bn by 2031.

Ans: Increasing instances of phishing emails and ransomware and SOAR assists security forces in combating alert fatigue. These are the driving factors of the Security Orchestration, Automation, and Response (SOAR) Market.

Ans: SOAR is a collection of diverse technologies that enable businesses to collect data and security alerts from a variety of sources. Enterprises use these tools and services to prioritize incident response (IR) tasks by performing threat analysis and remediation procedures.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

8. Security Orchestration, Automation, and Response (SOAR) Market Segmentation, by Component

8.1 Solution

8.2 Services

9. Security Orchestration, Automation, and Response (SOAR) Market Segmentation, by Organization Size

9.1 Small & Medium Enterprises

9.2 Large Enterprises

10. Security Orchestration, Automation, and Response (SOAR) Market Segmentation, by Deployment Mode

10.1 Cloud

10.2 On-Premises

11. Security Orchestration, Automation, and Response (SOAR) Market Segmentation, by Application

11.1 Threat Intelligence

11.2 Network Forensics

11.3 Incident Management

11.4 Compliance Management

11.5 Workflow Management

11.6 Others

12. Security Orchestration, Automation, and Response (SOAR) Market Segmentation, by Vertical

12.1 BFSI

12.2 Government

12.3 Energy & Utilities

12.4 Healthcare

12.5 Retail

12.6 IT & Telecom

12.7 Others

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

14. Company Profiles

14.1 Cisco Systems, Inc.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 IBM Corporation

14.3 FireEye Inc.

14.4 Swimlane, LLC

14.5 Palo Alto Networks

14.6 Rapid7

14.7 Splunk Inc.

14.8 LogRhythm, Inc.

14.9 DFLabs

14.10 ThreatConnect

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

16. Conclusion

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Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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Primary Research

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Data Bank Validation

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