Global Security Orchestration Automation and Response (SOAR) Market Research Report: by Component [Platform, Service (Professional Service and Managed Service)], Application (SOC optimization, network forensics, threat intelligence, compliance management, others), Organization Size (Large Enterprise and Small & Medium-Sized Enterprise), Vertical (Banking, Financial Services and Insurance, IT & Telecom, Government, Energy and Utilities, Healthcare, Retail and Others), Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) - Forecast till 2027
Overview
According to Market Research Future, the SOAR market has been segmented based on component, application, organization size, vertical, and region/country.
According to International Information System Security Certification Consortium, or (ISC)², globally 2.93 million cybersecurity positions were open and unfilled in 2020. Lack of workforce to manage security operations in enterprises is the major factor boosting the growth of the SOAR market. SOAR stands for security orchestration, automation and response which is a combination of software programs which allow an enterprise to collect data about security threats from multiple sources and respond to them without human assistance. The increasing demand for SOAR solutions by managed security service providers (MSSP) and the advent of digital transformation in enterprises based in major economies offer lucrative opportunities for SOAR service providers in the market.
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By component, the global SOAR market has been divided into platform and services. The services segment has been further divided into professional service and managed service. The platform segment is expected to have larger market share during the forecast period. SOAR platform allows the integration of security incidents and response platform, security orchestration and automation solution and threat intelligence platforms. The platform is deployed to manage security alerts and prevent any type of cyberattack. Under the service segment, the managed service segment is expected to register the highest CAGR during the forecast period. This is because various organizations are opting for managed service providers for SOAR to order to keep their organizations secure.
By application, the global SOAR market has been divided into security operations center (SOC) optimization, network forensics, threat intelligence, compliance management, and others. The threat intelligence segment is expected to have the highest market share during the forecast period. Threat intelligence is imperative to facilitate the management of cyber threat intelligence and detect threats such as advanced persistent threat (APT), phishing, malware, botnets, distributed denial of service (DDoS) and ransomware among others.
Based on organization size, the global SOAR market has been categorized as large enterprise and small- and medium-sized enterprise (SMEs). The large enterprise segment is expected to account for the larger market share during the review period. However, the SMEs segment is expected to register the higher CAGR.
On the basis of vertical, the global SOAR market has been divided into banking, financial services and insurance, IT & telecom, government, energy and utilities, healthcare, retail, and others. The IT & telecom vertical is expected to register the highest CAGR during the forecast period as a large number of MSSPs are adopting these solutions.
By region, the global SOAR market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Regional Analysis
By region, the global SOAR market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to be the largest market due to presence of a large number of SOAR vendors in the region and the need of large enterprises as well as SMEs to defend themselves against APTs, distributed denial of service (DDoS), and other attacks.
Key Players
The key players in the global SOAR market are Splunk Inc. (US), LogRhythm, Inc. (US), DFLabs (Italy), ThreatConnect (US), Cyberbit (Israel), D3 Security (US), Ayehu Software Technologies Ltd. (US), CyberSponse (US), Resolve Systems (US), Cisco Systems, Inc. (US), IBM Corporation (US), FireEye Inc. (US), Swimlane, LLC (US), Palo Alto Networks (US), and Rapid7 (US). The other players in the global SOAR market include ATAR Labs (Europe), EclecticIQ (Netherlands), Tufin (Israel), Siemplify (US), Exabeam (US), and Syncurity (US).
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Market Analysis The global soar security orchestration automation and response market will touch USD 2,027.2 million at a 14.6% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis.
Security orchestration automation and response (SOAR) allows organizations in collecting data from different sources and responding to safe operations from one single system sans human assistance to deal with the changing threat environment.
SOAR allows various solutions in integrating with one another and automating tasks in production with the help of workflows for managing security threats and preventing further network attacks.Various factors are fuelling the global security orchestration automation and response market growth.
As per the recent MRFR market estimates, such factors include the growing digitization resulting in rising vulnerabilities in data security, the need to improve detection and response activities across verticals, growing demand from various verticals like IT and telecommunications and BFSI, rising number of false alerts, and the rising digitization.
The additional factors propelling market growth include the necessity to manage cyber threats, the need for improving detection and response activities, and technological advances.On the contrary, the impact of the COVID-19 impact, lack of awareness regarding SOAR and lack of security operation handlers may limit the security orchestration automation & response market growth over the forecast period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8385Market BifurcationThe Market Research Future report throws light on an inclusive segmental analysis of the global security orchestration automation and response market based on vertical, organization size, application, and component.
The services segment is again segmented into managed services and professional services.
Soar Security Orchestration Automation And Response Market -OverviewThe surging need to consolidate enterprise data is likely to push the development of the SOAR market in 2020.
The software reports are produced by Market Research Future, which contains market alternatives for progress.
The growing susceptibilities in data security are forecasted to change the SOAR market in the future.Segmental AnalysisThe segmental insight into the Soar Security Orchestration Automation And Response Market has been conducted based on application, organization size, vertical, component, and region.
Based on the application, the SOAR market has been segmented into network forensics, threat intelligence, compliance management, security operations center (SOC) optimization, and others.
Based on the vertical, the SOAR market has been segmented into BFSI, energy and utilities, healthcare, retail, IT & telecom, government, and others.
The North American region has the principal market stake as the businesses in this region are capitalizing considerably towards R activities, which has controlled the improvement of technologies in security orchestration and automation.
