According to the latest report by IMARC Group, titled “Security Orchestration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global security orchestration market size reached US$ 2.8 Billion in 2022. Security orchestration represents a stack of compatible programs that enable organizations to acquire inputs regarding security threats from multiple sources and streamline incident response and vulnerability management operations. It encompasses cybersecurity solutions that identify, prioritize, standardize, and remediate potential threats without human assistance. As compared to security information and event management (SIEM), it extracts extensive data from external emerging threat intelligence feeds and third-party sources to automate operations instead of providing threat alerts only. Security orchestration integrates disparate protection systems, enables faster strategic decision-making via a single interface, facilitates alert triage, and utilizes application programming interfaces (APIs). Apart from this, it centralizes investigative procedures, improves efficiency, and offers reduced cyberattack impact, automated reporting, and metric capabilities at reduced operational costs. Consequently, security orchestration is extensively employed by end users for compliance management, ticketing solutions, and network forensics solutions.
Security Orchestration Market Trends:
The increasing instances of data breaches and cyberattacks in complex infrastructures and the rising need for effective security technologies and tools across various industries to protect networks, computer systems, and programs are majorly driving the market growth. Furthermore, the widespread adoption of bring-your-own-device (BYOD) and work-from-home (WFH) by small and medium enterprises (SMEs) has impelled employees to share digital files and data online. This, in turn, has supplemented the usage of security orchestration for offering immediate threat protection, which is acting as another growth-inducing factor. Additionally, the rapid expansion in the e-commerce sector, which operates point-of-sale locations, is driving the employment of comprehensive security solutions to improve revenue margins and mitigate threats caused by monetary transactions. Moreover, the integration of the Internet of Things (IoT) and cloud computing solutions and the advent of routine security operations, such as internet protocol (IP) scoring and provisioning and de-provisioning access, are favoring the market growth. Apart from this, the rising user awareness regarding the availability of such solutions and their benefits and ongoing product diversification to comply with government safety standards are positively augmenting the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.0 Billion by 2028, growing at a CAGR of 16.1% during 2023-2028.
- Based on the type, the market has been bifurcated into software and services, wherein software accounts for the largest market share.
- On the basis of the deployment mode, the market has been bifurcated into cloud-based and on-premises. At present, cloud-based solutions hold the majority of the market share.
- Based on the organization size, the market has been bifurcated into small and medium-sized, and large enterprises. Large enterprises currently represent the leading segment.
- On the basis of the application, the market has been divided into compliance management, threat intelligence, ticketing solutions, network forensics, and others. Among these, threat intelligence exhibits a clear dominance in the market.
- Based on the end use industry, the market has been segregated into BFSI, IT and telecommunication, government and defense, e-commerce, and others. Presently, IT and telecommunication are the leading end users.
- On a regional basis, North America (the United States and Canada) is the largest market. Other regions covered in the report include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and the Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being 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.
|Base Year of the Analysis
||Type, Deployment Mode, Organization Size, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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