Security orchestration is all about collecting and consolidating information from a variety of sources. For instance, in a suspicious file, inorder to understand the risk it poses, it is essential to know its source and whether it contains any known malware or not. This takes time to get these responses manually. The use of SOAR solution provides quick access to vital security information, it investigates more efficient and provides all essential information inorder to make the best decisions possible.
The Security Orchestration Automation and Response (SOAR) market shows a significant demand owing to rising number of false alerts. Lack of concentrated view on threats is also a factor contributing to the growth of market. Moreover, the aspects such as lack in availability of staffs and strict regulations and compliances are also two aspects driving the demand for SOAR ecosystem. However, lack of knowledge and awareness among numerous firms may restrain the growth of SOAR market growth.
On the basis of component, Security Orchestration Automation and Response (SOAR) market is segregated into solution and services. The solution segment is predicted to record higher growth in the future as SOAR is provided in the form of a solution or a platform by the cybersecurity vendors. The platform allows firms to gather data from numerous sources and automate security operations. The SOAR platform helps different solutions to combine and simplify processes across workflows through goods while also enabling human intervention. These solutions are implemented in private or public firms to manage security alerts and prevent further cyber-attacks. As the level of sophistication in cyber-attack vectors is increasing, organizations are adopting security services to address rising risks in an ever-changing threat landscape. The security services sector is divided into two main types, namely professional services and managed services.
In terms of application, the threat intelligence module is expected to hold highest market share over the forecast period. It gathers and analyzes data on current and emerging multi-source risk vectors to deliver actionable threat intelligence reports and feeds that can be efficiently used by various security control solutions. These solutions keep companies aware of the dangers of zero-day attacks and threats, Advanced Persistent Threats (APTs), and help protect themselves from potential data breaches. When companies are increasingly dependent on information and communication technology to facilitate various business processes, they become exposed to various cyber-crimes and security vulnerabilities. Threat intelligence solutions offers reliable and effective threat detection to counter cyber threats based on security intelligence feeds and security events, reduce potential harm, manage business risks, and improve the overall security infrastructure of organizations.
In the global Security Orchestration Automation and Response (SOAR) industry, North America is anticipated to lead the market, while Europe is expected to grow at the fastest growth rate over the forecast period. The presence of key players in North America such as FireEye, Cisco Systems Inc., IBM Corporation and among others is expected to drive the growth of SOAR market in the region.
The Security Orchestration Automation and Response (SOAR) market comprises key solution providers, such as IBM, FireEye, Rapid7, Cisco Systems, Inc., Splunk Inc., Tufin, Swimlane, LLC, ThreatConnect, DFLabs, Demisto (Palo Alto Networks), Exabeam, Ayehu Software Technologies Ltd., LogRhythm, Inc., Siemplify, CyberSponse and Resolve Systems among others.
The report segments the Security Orchestration Automation and Response (SOAR) market as follows:
Global Security Orchestration Automation and Response (SOAR) Market: Component Segment Analysis
Global Security Orchestration Automation and Response (SOAR) Market: Deployment Mode Segment Analysis
Global Security Orchestration Automation and Response (SOAR) Market: Application Segment Analysis
Global Security Orchestration Automation and Response (SOAR) Market: Vertical Segment Analysis
Global Security Orchestration Automation and Response (SOAR) Market: Regional Segment Analysis