Security Orchestration Automation and Response (SOAR) Market is valued at USD 1.16 Billion in 2021 and is expected to reach USD 3.19 Billion by 2028 with a CAGR of 15.58% over the forecast period.
Global Security Orchestration Automation and Response (SOAR) Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis to 2022-2028, Rising number of SOAR providers and state-of-the-art development centers are some of the major factors driving the growth of the global Security Orchestration Automation and Response (SOAR) market.
The technologies that allow organizations to gather inputs examined by the security operations team is known as security orchestration automation and response (SOAR). SOAR platforms are an assembly of security software solutions and tools for browsing and gathering documents from a range of sources. SOAR permits companies to accumulate threat-related data from a variety of sources and automate the responses to the threat. The phrase was initially coined by Gartner.
The Covid-19 outbreak has impacted the security orchestration automation and response market positively. With improving IT & telecom transformations and the digital transformation of economies, the security orchestration, and automation market pitched up fantastically. The Coronavirus pandemic has also encouraged digitization and automation throughout the manufacturing sectors worldwide.
The global security orchestration automation and response (SOAR) market is segmented based on component, services, application, organization size, deployment mode, vertical, and geography. Based on component, the global security orchestration automation and response (SOAR) market is segmented into solutions and services. Based on services, the market is segmented into professional services and managed services. Based on application, the security orchestration automation and response (SOAR) market is segmented into threat intelligence, network forensics, incident management, compliance management, workflow management, and others. Based on organization size, the market is segmented into SMEs and large enterprises. Based on deployment mode, the security orchestration automation and response (SOAR) market is segmented into cloud and on-premises. Based on vertical, the market is segmented into BFSI, retail, healthcare, energy & utilities, government, it & telecom, and others.
By Organization Size:
By Deployment Mode:
The regions covered in this global Security Orchestration Automation and Response (SOAR) market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global Security Orchestration Automation and Response (SOAR) is subdivided into the U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 1.6 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 3.19 Billion|
|Tables, Charts & Figures:||175|
|Security Orchestration Automation And Response Companies||IBM, Hewlett Packard, McAfee, LogRhythm, Splunk, AlienVault, BlackStratus, EventTracker, Dell Technologies, Fortinet, Micro Focus, SolarWinds, Symantec, Tenable Network Security & others.|
|Segments Covered||By Component, By Services, By Application, By Organization Size, By Deployment Mode, By Vertical|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Some of the key players OF global Security Orchestration Automation and Response (SOAR) are:
On January 26th, 2022; Revelstoke has launched a new Security Orchestration Automation and Response (SOAR) solution intended to automate analysis projects within Security Operations Centers (SOCs). The organization also raised up around USD 13 million in funding.
SIRP Launched SOAR-as-a-Service for SOC Teams to Streamline Incident Response Management
On March 4th, 2021; SIRP, a leading No-code Risk-based Security Orchestration, Automation and Response (SOAR) platform provider, announced the launch of its SOAR-as-a-Service offering. The cloud-based model provides a fast, flexible solution for enterprises and MSSPs who can access its single, centralized interface to gain valuable intelligence and context on threats, reducing incident response times from hours to minutes. SIRP’s SOAR platform is designed to help organizations struggling with a growing number of security alerts by helping teams decide where incident responders should focus their activity. Its risk-based approach uses machine learning algorithms to assess security data relevancy so teams can make more informed decisions and dramatically reduce response time.
Swimlane Launched Version 3.0 of Security Orchestration, Automation and Response Platform
On April 17th, 2018; Swimlane, a leader in security automation and orchestration (SAO), announced the launch of Swimlane 3.0, a security operations management platform focused on empowering enterprises and government agencies with data-driven automation and orchestration for incident response and improved security operations (SecOps). The next-generation platform delivers a number of impressive new features for improved integration, power and flexibility. Swimlane quickly and easily adapts to meet the unique requirements of any enterprise, accelerating time-to-value and delivering powerful collaborative capabilities.
Increasing growth of IT and telecommunication sector worldwide is one of the major factors fostering the growth of security orchestration automation and response market. SOAR tools are assisting IT teams to identify, standardize, and program organizations' incident response events. The mainstream IT organizations are using these tools to automate security operations and procedures, respond to incidents, and control vulnerabilities and threats. In accordance with a survey of around 179 IT professionals, the bulk of security operation centers received more than 10,000 alerts every day in 2019, and the standard analyst spends almost 20 minutes on every case. Accordingly of the sheer volume of alerts, more than 60% of security tickets produced are left unaddressed. As per the study of Brandessence Market Research analyst; global IT spending is reached USD 3.92 trillion in 2021, which is 20% larger than in 2020. Furthermore, security orchestration decreases the threat response and resolution time for IT professionals operating in enterprise security. As a result, the growing IT and telecommunication sectors worldwide are enhancing the growth of the SOAR market.
In addition, the rising adoption of SOAR platforms and expanding technological advancements are also boosting the security orchestration automation and response market growth globally. Since SOAR fulfills the rift between security professionals and the massively advancing threat landscape, enterprises are expected to comprehensively adopt these solutions in the years to come. By keeping all beneficial aspects of SOAR in mind, a number of major players are investing in the market to stay competitive. For instance; in 2021, Siemplify and Anomali partnered to provide unified SOAR and TIP. This partnership was begun to incorporate the SOAR and threat intelligence platform. Additionally, Rapid7 acquired a company that provides end-to-end network traffic visibility and analytics across cloud, virtual, and physical networks named NetFort. Such growing acquisitions, mergers & acquisitions, and partnerships are massively enhancing the popularity of security orchestration automation and response platform among many market players. As a result, a large number of local, small pr mid-sized companies are also leveraging into the competitive landscape of SOAR.
However, the shortage of awareness regarding the SOAR is a general factor which may limit the growth of the SOAR market. In spite of that, the increasing adoption of business IoT specialists, cloud services, and the most reliable IoT network may generate ample opportunities for the further growth of the market.
Geographically, North America is expected to account for the largest share of the global security orchestration automation and response (SOAR) market owing to sustainable and well-established economies and presence of market players across this region. Besides, the occurrence of a variety of SOAR providers and state-of-the-art development centers in the region thrust the market growth. With the elevated digitization to strengthen enormous volumes of critical data requiring SOAR platforms, the US leads the regional market.
Europe is expected to capture the second-best position globally in terms of security orchestration automation and response market revenue. The market growth is expected to foster by the soaring adoption of cloud and IoT services in the region. For instance; more than 41% of European enterprises used cloud services in 2021. It is estimated that the IoT market in Europe record a revenue of over 7.8 billion euros by 2026. The increasing digitalization, cloud, IoT service, and automation across industry verticals with high reliability throughout the European countries are boosting the security orchestration and automation market in this region.
On Special Requirement Security Orchestration Automation and Response (SOAR)Market Report is also available for below Regions and Country:
Middle East and Africa
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