The global Security Orchestration, Automation and Response (SOAR) market size is expected to grow from an estimated value of USD 0.14 billion in 2022 to USD 8.3 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 23.8% from 2022 to 2032 . Increasing incidents of phishing emails and ransomware are driving the growth of the market but lack of modern IT infrastructure may hamper this growth.
The global Security Orchestration, Automation And Response (Soar) Software market is one of the leading markets involving innovative development strategies and highly categorized sectors. After a thorough investigation conducted on the industries under the Security Orchestration, Automation And Response (Soar) Software market, the market report delivers in-depth information, based on data related to export and import along with ongoing industry trends in the global market.
Key Players Profiled In The Report Including
Key players covered in Security Orchestration, Automation And Response (Soar) Software report are Demisto, CloudGuard, SIRP, D3 Security, Intezer, Swimlane, ThreatConnect, IBM, Siemplify, ServiceNow, Tripwire, Splunk
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By application, the network forensics segment held the largest market size during the forecast period
Network forensics is the sub-branch of digital forensics that manages, monitors, and analyzes computer network traffic to detect intrusions and cyberattacks. It helps detect unauthorized access to computer systems. The main purpose of network forensics is to record network traffic and provide a centralized analysis of network data to enable organizations to secure their data and applications from sophisticated cyberattacks. Computer professionals and security orchestration vendors integrate security orchestration solutions with advanced network forensics capabilities that help accelerate network traffic investigation, prioritize threats, and resolve security incidents with less time and less effort.
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Recent Developments
In May 2022, Bugcrowd partnered with IBM to Connect to the SOAR Space using IBM Resilient Integration. IBM Resilient is a security orchestration, automation, and response system used by security teams.
In May 2022, Palo Alto Networks announced a partnership with Cohesity. Palo Alto Network will integrate its SOAR platform with Cohesity’s AI data management platform to significantly lower customers’ ransomware risk.
In March 2022, Ridge Security and Splunk partnered to accelerate response speed. The effectiveness of security personnel with robust defenses will be strengthened by integrating RidgeBot’s API with Splunk SOAR.
In July 2021, Rapid7 acquired Threat Intelligence Leader IntSights. This acquisition leads to integrations between IntSights External Threat Protection Suite and Rapid7’s Insight portfolio.
Security Orchestration, Automation And Response (Soar) Software Market
Cloud Based, On-Premises.
Application as below
Large Business, SME
Exclusive Market Scope USP:
SOAR Market Drivers
Lack of security professionals and increasing adoption of SOAR platforms are key trends in the market. Because SOAR bridges the gap between security professionals and the vastly evolving threat landscape, enterprises are likely to adopt these solutions widely in the coming years. In addition, growing digitization leading to increasing data security vulnerabilities is a key factor influencing security orchestration and automation market growth.
Integrating SOAR solutions into cyber platforms is another key industry trend, allowing security analysts to receive more contextual information in the event of incident prioritization to create an attack path towards a critical asset. The need to manage cyber threats and improve detection and response activities across verticals are other key factors fueling the SOAR market size.
Also, the use of smarter devices is contributing to the growth of the market, addressing issues related to bandwidth and latency and business maturity. On the contrary, lack of awareness about SOAR is a major factor hindering the growth of this market. However, the increasing use of cloud services, IoT business specialists, and the most reliable IoT network will support the market during the assessment period.
Market Segmentation Research Scope:
The SOAR market forecast has been segmented into segments, applications, organization size, verticals, and regions. The component segment is sub-segmented into platforms and services. The service segment is categorized into professional and managed services.
The application segment is sub-segmented into security operations center (SOC) optimization, network forensics, threat intelligence, compliance management, and others. The organization size segment is sub-segmented into small and medium-sized enterprises (SMEs) and large enterprises.
The vertical segment is sub-segmented into banking, financial services and insurance, IT and telecom, government, energy and utilities, healthcare, retail and others. The regional segment is sub-segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Rest-of-the-World.
Security Orchestration, Automation And Response (Soar) Software Report Supports Below Facts:
Regional Analysis
North America dominates the global security orchestration automation and response market. The region is witnessing extensive R&D investment for the advancement of security orchestration and automation technologies. In addition, the presence of a number of SOAR providers and state-of-the-art development centers in the region is driving the growth of the market. With high digitization to support large volumes of critical data requiring a SOAR platform, the US dominates the regional market.
Europe holds the second best position globally in terms of security orchestration automation and response market revenue. The growth of the market is driven by the increasing demand among enterprises across industries and managed security service providers to comply with regulations imposed by governments. In addition, increasing digitization and automation in industry verticals and high reliability Internet connectivity in this region are boosting the security orchestration and automation market size.
The Asia Pacific region is witnessing a rapid increase in security orchestration automation and response market value. Factors such as growing adoption of SOAR for security incident response and security orchestration and threat intelligence automation are key growth drivers for the market. Furthermore, the adoption of 5G technology and AI/ML acceleration is increasing the region’s SOAR market shares.
Competitive Analysis
The security orchestration automation and response market will witness various strategies, such as collaboration, expansion, mergers and acquisitions, and integration of advanced technologies. Major players in the industry are making strategic investments in driving research and development activities and solidifying their expansion plans.
For example, recently, on May 04, 2021, XM Cyber, a leader in Attack-Centric Exposure Prioritization, announced new integration with Palo Alto Network’s Cortex XSOAR security orchestration automation and response (SOAR) platform. The new integration enables one-click access to the Cortex XSOAR Marketplace with risk-free attack simulation.
On another occasion, on May 03, 2021, Securonix, Inc., a leader in Next-Gen SIEM, announced winning the Best SIEM solution award for its next-generation SIEM platform. The company is recognized as a Trust Award Winner for cloud-first SIEM that delivers hybrid and multi-cloud organizations.
Note – In order to provide a more accurate market forecast, all our reports will be updated prior to delivery taking into account the impact of COVID-19.
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