Security Automation Industry Forecast, 2028: Rise in Advent of Predictive Analytics to Anticipate Potential Threats Creates Lucrative Opportunities

DUBLIN, Nov. 3, 2023 /PRNewswire/ — The “Global Security Automation Market Forecast to 2028” report has been added to  ResearchAndMarkets.com’s offering.

The global security automation market is projected to grow from USD 8.9 billion in 2023 to USD 16.7 billion by 2028, at a compound annual growth rate (CAGR) of 13.4% during the forecast period. The market is anticipated to grow due to the rising cybersecurity threats and complexity, and growing ability to detect and respond to security incidents in real time.

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By offering, solutions segment to register for largest market size during forecast period

The solution segment includes SOAR, SIEM, and XDR. The growth of the solutions segment in the security automation market is being driven by several key factors the rapid proliferation of connected devices and digital services has expanded the attack surface for cybercriminals, necessitating a proactive and automated approach to threat detection and mitigation.

By vertical, healthcare & life sciences segment to register fastest growing CAGR during the forecast period

The healthcare & life sciences verticals have witnessed tremendous advancements over the past decade, and security automation technology have played a pivotal role in driving this progress. Security automation in the healthcare and life sciences sectors streamlines compliance with regulations like the Health Insurance Portability and Accountability Act (HIPAA) and ensures the continuity of critical research activities. By automating security processes such as vulnerability assessments, threat detection, and incident response, organizations can focus on delivering high-quality patient care and advancing scientific discoveries without compromising security.

North America to witness the largest market size during the forecast period

North America is experiencing significant technological growth in the security automation market, driven by various factors shaping the landscape of intelligent and connected devices. The continuous growth of the security automation market in the region is due to the heavy investment done by companies and countries against cyberattacks and the presence of market players across the region. The increase in the number of cyberattacks is giving a wake-up call to different organizations to safeguard their businesses by using new and innovative technologies, such as SOAR, to prevent attacks and to guard their organization’s valuable and critical data.

Premium Insights

Increase in Phishing Emails and Ransomware Incidents to Facilitate Audit Trails to Drive Market GrowthMarket to Witness Minor Decline in Y-O-Y Growth in 2023Identity & Access Management Segment to Grow at Highest CAGR During Forecast PeriodSolution Offerings and BFSI Vertical to Account for Largest Respective Market Shares in North America in 2023North America to Account for Largest Market Share in 2023

Market Dynamics

DriversRise in Cybersecurity Threats and ComplexityIncrease in Ability to Detect and Respond to Security Incidents in Real TimeGrowth in Incidents of Phishing Emails and RansomwareNeed to Ensure Consistent Adherence to Security Policies and Facilitate Audit TrailsRestraintsConcerns Related to Data PrivacyUncertainty in Third-Party ApplicationsOpportunitiesRise in Advent of Predictive Analytics to Anticipate Potential ThreatsAdvancements in Quantum Computing to Mitigate Quantum-based AttacksChallengesShortage of Modern IT Infrastructure

Case Study Analysis

BFSISuperior Credit Union Relied on Taegis ManagedXDR for Proactive SecurityR3’S Security Team Saved More Than 220 Hours/Month with TinesTenable Unified Vulnerability Management Program of Global Payment AU NZe-Finance Strengthened Digital Payment Security Ecosystem in Egypt with LogRhythm SIEMHealthcareAlmac Group Stepped Up IoT SecurityMcKesson Chose Tines for Its Refreshing Approach to Security AutomationGeisinger Expanded Crowdstrike Usage to Protect AWS Cloud WorkloadsEnergy & UtilitiesBaskentgaz Prevented Potential Dos and XSS Attacks by Using LogSign SIEMBotswana Power Corporation Secured Its Infrastructure, Its Business, and Its Management’s Confidence with Check PointIT & ITeSUpwork Used Tines to Improve Its Security Posture and Help Its End-users Get SmarterAuth0 Used Tines to Deliver Faster and More Efficient Security Alert Response ServiceMedia & EntertainmentTines Helped Canva to Improve Its Security Detection and ResponseThe Kraft Group Adopted Taegis ManagedXDR to Transform Its IT EnvironmentRetail & e-CommerceBusy Beaver Took Customer-First Approach to IT SecurityGlobal Retailer Reduced Risk with SecureWorks Threat Detection and ResponseTelecomVodafone Idea Limited Automated to Improve IT InfrastructureManufacturingSMS Group Maintained Highest Standards of Security with Trellix SolutionsGovernment & DefenseTurkish Red Crescent Used LogSign SIEM Against Possible Cyber ThreatsEducationIstanbul Bilgi University Observed Network and System Activities of Users on All Campuses Using LogSign SIEMAutomotive & TransportationTines Enabled Turo’s Lean Security Team to Do More with Less

Technology Analysis

Key TechnologyArtificial Intelligence and Machine Learning (AI and ML)Biometric AuthenticationContainerization and MicroservicesQuantum ComputingUser and Entity Behavior Analytics (UEBA)Network Segmentation TechnologiesBlockchainAdjacent TechnologyIoT5GCloud ComputingEdge ComputingRemote Work Technologies

Business Model Analysis

Subscription-based ServicesFreemium ModelsManaged Security ServicesPlatform as a Service (PaaS)On-Premises LicensingUsage-based ModelsHybrid Cloud Models

Key Attributes

Key Topics Covered

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Security Automation Market, by Offering
7 Security Automation Market, by Technology
8 Security Automation Market, by Application
9 Security Automation Software Market, by Code Type
10 Security Automation Market, by Vertical
11 Security Automation Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent and Related Markets
15 Appendix

Companies Profiled

AnvilogicCyberArkCheck PointCrowdStrikeCiscoCarbon BlackCywareCyberbitDevo TechnologyD3 SecurityDrataExabeamFortinetGoogleIBMLogRhythmLogSignMicrosoftManageEnginePalo Alto NetworksRed HatSplunkSecureworksSwimlaneSumo LogicSirpTrellixTenableTufinTinesTorqVulcan CyberVeritiVanta

For more information about this report visit https://www.researchandmarkets.com/r/w4h2jl

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