Cloud-Based Solutions and Government Investments Propel Security Orchestration Market to $7.0 Billion by 2028

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Oct 17, 2023, 19:15 ET

DUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "Security Orchestration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global security orchestration market, which reached a size of US$ 2.8 billion in 2022, is set to experience substantial growth in the coming years. Analysts project the market to reach US$ 7.0 billion by 2028, with a robust compound annual growth rate (CAGR) of 16.1% during the period from 2023 to 2028.

Security orchestration involves the integration of various cybersecurity tools and processes within a security operation center (SOC) to automate tasks, enhancing the efficiency of security operations. It encompasses a range of cybersecurity tools aimed at preventing, detecting, and remediating threats.

Security orchestration enables security teams to quickly contextualize data by gathering information from multiple sources, enriching alerts, and facilitating incident response activities such as alert triage, analytics, security incident investigation, and threat intelligence.

This strategic approach finds extensive applications across various sectors, including energy and utilities, government, healthcare, retail, information and technology (IT), telecommunications, and banking, financial services, and insurance (BFSI).

Key Market Trends Driving Growth

Rise in Security Breaches: The proliferation of bring your own device (BYOD) policies in medium and small businesses has led to an increase in security breaches across various industry verticals. This, coupled with frequent changes in network infrastructures, is a significant driver of market growth.
Cloud-Based Solutions: The availability of cost-effective cloud-based security orchestration solutions globally is contributing to market expansion.
Telecommunication Sector: Security orchestration is increasingly utilized in the telecommunications sector to provide advanced security for critical business applications.
Government Investments: Governments worldwide are investing extensively in network infrastructures and research and development (R&D) activities, positively impacting market growth.
Demand for Cutting-Edge Security Technology: The growing demand for state-of-the-art security technology is providing lucrative growth opportunities for key market players.
Enhancing Security Operations: The adoption of security orchestration to elevate the security operations capabilities of enterprises is driving market growth.

However, the market faced challenges during the COVID-19 pandemic due to a decline in travel and tourism activities and the suspension of airline services. It is expected to recover as lockdown restrictions ease.

Market Segmentation

The global security orchestration market is segmented based on type, deployment mode, organization size, application, end-use industry, and region:

Type:

Software
Services

Deployment Mode:

Cloud-based
On-premises

Organization Size:

Small and Medium-sized Enterprises
Large Enterprises

Application:

Compliance Management
Threat Intelligence
Ticketing Solutions
Network Forensics
Others

End-Use Industry:

BFSI
IT and Telecommunication
Government and Defense
E-Commerce
Others

Regions:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape

The report provides a comprehensive analysis of the competitive landscape, featuring key market players such as Acalvio Technologies Inc., Accenture plc, Amazon Web Services Inc. (Amazon.com Inc.), Cisco Systems Inc., Cyberbit (Elbit Systems), Exabeam Inc., Forescout Technologies Inc., International Business Machines Corporation, Optiv Security Inc., Palo Alto Networks Inc., Swimlane Inc., and Tufin.

Key Questions Addressed in the Report

What was the size of the global security orchestration market in 2022?
What is the expected growth rate of the global security orchestration market during 2023-2028?
What are the key factors driving the global security orchestration market?
What has been the impact of COVID-19 on the global security orchestration market?
What is the market share based on type, deployment mode, organization size, application, and end-use industry?
What factors are driving and challenging the industry's growth?
Who are the major players in the global security orchestration market, and what is their competitive positioning?
How intense is the competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/3z4n60

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