Security Orchestration Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.54 Billion |
| Market Size (2029) | USD 7.35 Billion |
| CAGR (2024 - 2029) | 15.72 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Security Orchestration Market Analysis
The Security Orchestration Market size is estimated at USD 3.54 billion in 2024, and is expected to reach USD 7.35 billion by 2029, growing at a CAGR of 15.72% during the forecast period (2024-2029).
The implementation of security orchestration across various organizations can help manage security alerts and prevent severe cyber-attacks. As the sophistication level in cyber-attacks is increasing, security vendors are trying to develop better orchestration platforms to provide proactive and holistic security architecture to handle critical business applications.
- An increase in the security breaches and occurrences due to dramatic growth in the BYOD trend affecting SMEs, along with the rapid deployment and development of cloud-based solutions, is fueling the application of security orchestration among various organizations.
- A rise in the application of network forensics is expected to drive the market demand, as a growing number of companies are adopting the security orchestration platform to monitor and manage their computer network traffic.
- Growing adoption of various IT enabled services and solutions, due to the growing popularity of connected devices, has further boosted the amount of data generated daily, subsequently resulting in a vast scope for potential vulnerabilities that need effective management and containment.
- Implementation of these solutions has also enabled improved adherence to audit and compliance requirements easily, with proactive policy enforcement and audit and compliance reports, such as ITIL, PCI, Health Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley Act (SOX), and Gramm-Leach-Bliley Act. These factors have been aiding the growth of the market.
Security Orchestration Market Trends
IT and Telecommunication Sector is Projected to Record Significant Growth
- The IT and telecommunication industry offers a wide range of global and domestic services for connecting millions of customers. This diverse ecosystem is more prone to frequent cyber attacks, as they are highly dependent on their infrastructure, network, and databases to perform any operation.
- Telecom organizations typically store customers' personal information, such as names, addresses, and financial data. Information-sensitive data is a compelling target for insiders or cyber-criminals to steal money, blackmail customers, or launch further attacks. Therefore, the industry demands a greater focus on updated solutions, the right tools, highly trained personnel, and the ability to respond to threats immediately.
- SOAR tools aid IT teams in defining, standardizing, and automating organizations' incident response activities. Most IT organizations use these tools to automate security operations and processes, respond to incidents, and manage vulnerabilities and threats. Moreover, security orchestration reduces the threat response and resolution time for IT professionals working in enterprise security.
- With the increased data connectivity with the cloud as well as IoT taking center stage in the IT sector, security has been a top priority for the all the organizations in the industry to protect themselves from the data breaches. Further, COVID-19 pandemic has led Information and communication technology organizations to rethink their business processes and improve their network performance to provide their customers with reliable services throughout the pandemic, specially when the demand for telecom networks has doubled. Thus, companies are adopting these security orchestration solutions thereby driving the market growth rate.
North America Accounts for the Largest Market Share
- North America dominates the security orchestration market, owing to many prominent security orchestration vendors across the region, such as IBM Corporation, DXC Technology Company, Cisco System Inc., FireEye Inc., etc. Factors such as the growing end-user industries, government expenditure toward critical infrastructure, well-established R&D centers, and the demand for advanced security technology across the region are expected to drive market growth.
- The growing number of cyber attacks in the region further contributes to the market growth. In 2021, The National Security Agency (NSA), the Cybersecurity and Infrastructure Security Agency (CISA), and the Federal Bureau of Investigation (FBI) reportedly witnessed occurrences involving ransomware against 14 of the 16 critical infrastructure sectors in the United States, including the Defense Industrial Base, Emergency Services, Food and Agriculture, Government Facilities, and Information Technology Sectors.
- Also, various organizations have admitted that network complexity has increased over the past few years and will continue to increase over the next five years. Therefore, there is a high need for network security to stop hacking and cyber-attacks from securing industrial processes, and that is where security orchestration plays its part.
- Further, the region is witnessing an explosion of new cloud tools adopted for hybrid and multicloud environments, while at the same time, established cloud platforms are pivoting to fit into the new hybrid reality.
Security Orchestration Industry Overview
The security orchestration market is highly competitive and consists of several major players. In terms of market share, few major players currently dominate the market. Moreover, due to the emergence of the cloud network segment, most companies are increasing their SOAR market presence, tapping customers across the subsequent markets. Further, the players are opting for various strategies, such as collaborations and solution launches, thereby contributing to the market growth rate. For instance:
- March 2023-IBM and Cohesity have formed a new partnership to meet organizations' essential need for better data security and reliability in hybrid cloud settings. IBM Storage Defender is being developed to use AI and event monitoring across various storage platforms through one single window to assist in safeguarding organizations' data layer from threats, including ransomware, human error, and attack.
- February 2023-Morado Intelligence, a threat intelligence company that assists clients with their needs for cyber threat intelligence and security operations optimisation, and Cyware, a provider of the technology platform to build low-code SOAR and threat intel automation powered Cyber Fusion Centres for businesses and MSSPs/MDRs, as well as threat intelligence sharing solutions for ISACs and ISAOs, have formed a partnership. The partnership's primary objective is to make it easier for Morado's robust client portfolio to use Cyware's advanced TIP & SOAR modules to effectively ingest, enhance, analyze, and respond on threat data.
Security Orchestration Market Leaders
-
IBM Corporation
-
Tufin Software Technologies Ltd
-
Cisco System Inc.
-
FireEye Inc.
-
Amazon Web Services Inc.
*Disclaimer: Major Players sorted in no particular order
Security Orchestration Market News
- April 2023-A new version of D3 Security's security orchestration, automation, and response solution, Smart SOAR, has been launched. The solution is intended to help MSSPs and managed detection and response (MDR) providers to respond to threats and remediate security instances automatically.
- April 2023-Cycode introduced a New Application Security Orchestration and Correlation (ASOC) Solution. Cycode Application Security Orchestration and Correlation (ASOC) accelerates software delivery by implementing consistent, automated, non-disruptive security controls in development pipelines. It provides security and development teams with complete visibility into their tooling, unifies all alerts on a single platform, and consolidates all alerts.
Security Orchestration Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the market
5. Market Dynamics
5.1 Market Drivers
5.1.1 Rising Trend of Automated Security Operation for Seamless Workflow
5.1.2 Need of Disparate Cybersecurity Technologies to Handle Network Complexity
5.2 Market Restraints
5.2.1 Lack of Awareness among Professionals
5.3 Technology Snapshot
6. MARKET SEGMENTATION
6.1 Type
6.1.1 Software
6.1.2 Services
6.2 End-user Industry
6.2.1 BFSI
6.2.2 IT and Telecommunication
6.2.3 Government and Defence
6.2.4 E-commerce
6.2.5 Other End-user Industries
6.3 Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 France
6.3.2.3 Germany
6.3.2.4 Rest of Europe
6.3.3 Asia-Pacific
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 Australia
6.3.3.4 Rest of Asia-Pacific
6.3.4 Rest of the World
6.3.4.1 Latin America
6.3.4.2 Middle-East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Tufin Software Technologies Ltd
7.1.3 DXC Technology Company
7.1.4 Cisco System Inc.
7.1.5 Swimlane LLC
7.1.6 RSA Security LLC
7.1.7 FireEye Inc.
7.1.8 DFLabs SpA
7.1.9 Palo Alto Networks Inc.
7.1.10 Siemplify Ltd
7.1.11 Accenture PLC
7.1.12 Amazon Web Services Inc.
7.1.13 Cyberbit Ltd
7.1.14 Forescout Technologies Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Security Orchestration Industry Segmentation
Security orchestration is the method of connecting security tools and integrating diverse security systems with the help of a connected layer, streamlining security processes and powering security automation. It joins disparate cybersecurity technologies and processes for simpler, more effective security operations, with multiple security tools to prevent, detect, and remediate threats.
Security orchestration empowers organizations to automatically respond to security alerts, thereby leveraging deep technology integrations with existing tools, which can rapidly gather contextual alert data from various sources, analyze the security intelligence, and recommend a course of action to execute the required preventative actions with automation.
The Security Orchestration Market is Segmented by Type (Software, Services), End-user Industry (BFSI, IT and telecommunications, Government and Defence, E-commerce), and Geography.
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| Type | |
| Software | |
| Services |
| End-user Industry | |
| BFSI | |
| IT and Telecommunication | |
| Government and Defence | |
| E-commerce | |
| Other End-user Industries |
| Geography | ||||||
| ||||||
| ||||||
| ||||||
|
Security Orchestration Market Research FAQs
How big is the Security Orchestration Market?
The Security Orchestration Market size is expected to reach USD 3.54 billion in 2024 and grow at a CAGR of 15.72% to reach USD 7.35 billion by 2029.
What is the current Security Orchestration Market size?
In 2024, the Security Orchestration Market size is expected to reach USD 3.54 billion.
Who are the key players in Security Orchestration Market?
IBM Corporation, Tufin Software Technologies Ltd, Cisco System Inc., FireEye Inc. and Amazon Web Services Inc. are the major companies operating in the Security Orchestration Market.
Which is the fastest growing region in Security Orchestration Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Security Orchestration Market?
In 2024, the North America accounts for the largest market share in Security Orchestration Market.
What years does this Security Orchestration Market cover, and what was the market size in 2023?
In 2023, the Security Orchestration Market size was estimated at USD 3.06 billion. The report covers the Security Orchestration Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Security Orchestration Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Security Orchestration Industry Report
Statistics for the 2023 Security Orchestration market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Security Orchestration analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
