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The Business Research Company's Security Orchestration, automation And Response (SOAR) market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The security orchestration, automation, and response (SOAR) market has experienced rapid growth in recent years, increasing from $1.48 billion in 2023 to $1.7 billion in 2024, with a compound annual growth rate (CAGR) of 14.8%. This growth in the historical period can be linked to several factors, including the rising volume and complexity of cybersecurity incidents, the need for swift incident response and resolution, integration with threat intelligence platforms, a shortage of cybersecurity talent, and a focus on streamlining security operations.
What Is The Estimated Market Size Of The Global Security Orchestration, Automation And Response (SOAR) Market And Its Annual Growth Rate?
The security orchestration, automation, and response (SOAR) market is projected to experience rapid growth in the coming years, reaching $3.13 billion by 2028, with a compound annual growth rate (CAGR) of 16.6%. This anticipated growth can be attributed to the expansion of threat detection and response capabilities, increased adoption among small and medium enterprises (SMEs), the rise of cloud-based SOAR solutions, and a focus on cross-platform orchestration and automation.
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Growth Driver Of The Security Orchestration, Automation And Response (SOAR) Market
An increase in the frequency of cyberattacks is expected to drive the growth of the security orchestration, automation, and response (SOAR) market in the future. A cyberattack involves unauthorized access by hackers to a computer, computing system, or network, with the intent to cause harm to the organization. Security orchestration enhances the effectiveness of security operations by integrating numerous cybersecurity tools that aid in preventing, detecting, and remediating cyberattacks.
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Which Market Players Are Driving the Security Orchestration, Automation And Response (SOAR) Market Growth?
Key players in the market include IBM Corporation., Cisco Systems Inc., FireEye Inc., Palo Alto Networks Inc, Swimlane LLC., Rapid7, LogRhythm Inc., Splunk Inc., DFLabs S. p. A, Cyberbit, ThreatConnect, CyberSponse Inc., D3 Security Inc., Resolve Systems LLC., Exabeam Inc., Tufin, Musarubra US LLC., Ayehu Inc., Anomali ThreatStream Inc., Fortinet Inc., Stellar Cyber Inc., Uptycs Inc., Zscaler Inc., BigPanda Inc., Demisto Inc., Niara Inc., LogicHub Inc., Lumu Technologies Inc.
What Are the Emerging Trends Shaping the Security Orchestration, Automation And Response (SOAR) Market
Leading companies in the security orchestration, automation, and response (SOAR) market are enhancing their operations by forming strategic partnerships. A strategic partnership is a formal relationship established between two or more organizations to pursue shared goals, objectives, or projects.
How Is The Global Security Orchestration, Automation And Response (SOAR) Market Segmented?
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On Premises
3) By Organisation Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Threat Intelligence, Network Forensics, Incident Management, Compliance Management, Workflow Management, Other Applications
5) By End User: BFSI, Retail, Healthcare, Energy And Utilities, Government, IT And Telecommunications, Other End Users
Geographical Insights: North America Leading The Security Orchestration, Automation And Response (SOAR) Market
North America was the largest region in thesecurity orchestration, automation and response (soar) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the security orchestration, automation and response (soar) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Security Orchestration, Automation And Response (SOAR) Market Definition
Security orchestration, automation, and response (SOAR) refers to a suite of technologies that allows businesses to gather information and security alerts from various sources. With SOAR tools, enterprises can establish response processes and conduct threat analyses. This systematized digital workflow enables organizations to perform security threat analysis without requiring human intervention.
Security Orchestration, Automation And Response (SOAR) Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global security orchestration, automation and response (soar) market report covering trends, opportunities, strategies, and more
The Security Orchestration, Automation And Response (SOAR) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on security orchestration, automation and response (soar) market size, security orchestration, automation and response (soar) market drivers and trends and security orchestration, automation and response (soar) market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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