Security Orchestration Automation Response Market to grow by USD 1.24 billion from 2022 to 2027, Growth Driven by Rising frequency and sophistication of cyberattacks- Technavio

NEW YORK, Jan. 5, 2024 /PRNewswire/ — The “security orchestration automation response market is segmented by deployment (cloud and on-premises), application (network forensics, threat intelligence, incident management, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the security orchestration automation response market between 2023 and 2027 is USD 1.24 billion. The rising frequency and sophistication of cyberattacks is a key factor driving market growth. As hostile actors develop new cutting-edge approaches, the need for a strong network security strategy is being increasingly addressed by all organizations. In addition, cutting-edge SOAR solutions for network protection from increasing cyber threats have been significantly invested in by some of the world’s leading companies such as Cisco and Palo Alto. Increased threat detection, prevention, and response capabilities making it easier for organizations to effectively mitigate risks are the most important benefits of these software solutions. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

The high cost of deployment is a significant challenge restricting market growth. The cost of software licenses, system configurations and customizations, implementation, training, and maintenance are included in the total installation costs for an organization’s security orchestration automation response. In addition, it is necessary that skilled IT personnel incur additional costs for the proper implementation of SOAR software in enterprises.

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The security orchestration automation response market has been segmented by deployment (cloud and on-premises), application (network forensics, threat intelligence, incident management, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The cloud segment is estimated to witness significant growth during the forecast period. The demand for cloud SOAR-based solutions has increased at all enterprises because this is more affordable than on-premises solutions. Moreover, it is no longer necessary for organizations to spend more time configuring SOAR servers and buying licenses from cloud-based services. Hence, these factors are expected to drive segment growth during the forecast period. North America is estimated to contribute 42% to the growth of the global market during the forecast period. 

View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Security Orchestration Automation Response market:

Alphabet Inc., Cisco Systems Inc., Cyware Labs Inc., Exabeam Inc., Fortinet Inc., Innotim Yazilim LLC, International Business Machines Corp., LogRhythm Inc., Musarubra US LLC, Palo Alto Networks Inc., Qi Anxin Technology Group Co. Ltd., Rapid7 Inc., Resolve Systems LLC, SIRP Labs Ltd., Splunk Inc., Sumo Logic Inc., Swimlane Inc., ThreatConnect Inc., Tufin, and Zoho Corp. Pvt. Ltd.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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