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.
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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.
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.
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.
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
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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
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.
| 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) |
| Regional Analysis/Coverage |
North America (USA, Canada, Mexico), Europe |
| 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 |
| Market Opportunities |
• SOAR addresses the scarcity of qualified cybersecurity personnel |
Ans: The Security Orchestration, Automation, and Response (SOAR) Market is to grow at a CAGR of 14.12% during the forecast period 2023-2030.
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 2.92 Bn by 2030.
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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