Security Orchestration, Automation and Response Market

Security Orchestration, Automation and Response (SOAR) Market Size, Share & Segmentation 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), by Regions and Global Market Forecast 2023-2030

Report Id: SNS/ICT/2249 | July 2022 | Region: Global | 135 Pages

Report Scope & Overview:

The Security Orchestration, Automation, and Response (SOAR) Market size was valued at USD 1.01 Bn in 2022 and is expected to reach USD 2.92 Bn by 2030, and grow at a CAGR of 14.12% over the forecast period 2023-2030.

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

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

Security Orchestration, Automation and Response (SOAR) Market

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.

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

**Security Orchestration, Automation, and Response (SOAR) Market Report Scope:**
Report Attributes	Details
Market Size in 2022	US$ 1.01 Bn
Market Size by 2030	US$ 2.92 Bn
CAGR	CAGR of 14.12% From 2023 to 2030
Base Year	2022
Forecast Period	2023-2030
Historical Data	2020-2021
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 (FAQ) :

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

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of the good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

The 5 steps process:

Step 1: Secondary Research:

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

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3^rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.