Security Orchestration Automation and Response (SOAR) Market Size Report, Industry Share, Analysis, Growth, 2032

Security Orchestration Automation and Response (SOAR) Market Insights

According to a report from Zion Market Research, the global Security Orchestration Automation and Response (SOAR) Market was valued at USD 1.44 Billion in 2023 and is projected to hit USD 5.03 Billion by 2032, with a compound annual growth rate (CAGR) of 14.9% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Security Orchestration Automation and Response (SOAR) Market industry over the next decade.

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Security orchestration is all about collecting and consolidating information from a variety of sources. For instance, in a suspicious file, inorder to understand the risk it poses, it is essential to know its source and whether it contains any known malware or not. This takes time to get these responses manually. The use of SOAR solution provides quick access to vital security information, it investigates more efficient and provides all essential information inorder to make the best decisions possible.

The Security Orchestration Automation and Response (SOAR) market shows a significant demand owing to rising number of false alerts. Lack of concentrated view on threats is also a factor contributing to the growth of market. Moreover, the aspects such as lack in availability of staffs and strict regulations and compliances are also two aspects driving the demand for SOAR ecosystem. However, lack of knowledge and awareness among numerous firms may restrain the growth of SOAR market growth.  

Global Security Orchestration Automation and Response (SOAR) Market: Segmentation

The study provides a decisive view of the debt collection software market by segmenting the market based on by component, by deployment, by application, by vertical and by region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By component segment analysis includes Solutions and services.

By Application Segment Analysis includes Network Forensics, Compliance Management, Incident Management, Threat Intelligence, Workflow Management andOthers

By deployment type segment analysis includes cloud and on-premises.

By Vertical Segment Analysis includes BFSI, Energy & Utilities, Retail, IT & Telecom, Government, Healthcare and 
Others.

The Regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The platform allows firms to gather data from numerous sources and automate security operations. The SOAR platform helps different solutions to combine and simplify processes across workflows through goods while also enabling human intervention. These solutions are implemented in private or public firms to manage security alerts and prevent further cyber-attacks. As the level of sophistication in cyber-attack vectors is increasing, organizations are adopting security services to address rising risks in an ever-changing threat landscape. The security services sector is divided into two main types, namely professional services and managed services.

In terms of application, the threat intelligence module is expected to hold highest market share over the forecast period. It gathers and analyzes data on current and emerging multi-source risk vectors to deliver actionable threat intelligence reports and feeds that can be efficiently used by various security control solutions. These solutions keep companies aware of the dangers of zero-day attacks and threats, Advanced Persistent Threats (APTs), and help protect themselves from potential data breaches. When companies are increasingly dependent on information and communication technology to facilitate various business processes, they become exposed to various cyber-crimes and security vulnerabilities. Threat intelligence solutions offers reliable and effective threat detection to counter cyber threats based on security intelligence feeds and security events, reduce potential harm, manage business risks, and improve the overall security infrastructure of organizations.

Security Orchestration Automation and Response (SOAR) Market: Report Scope

In the global Security Orchestration Automation and Response (SOAR) industry, North America is anticipated to lead the market, while Europe is expected to grow at the fastest growth rate over the forecast period. The presence of key players in North America such as FireEye, Cisco Systems Inc., IBM Corporation and among others is expected to drive the growth of SOAR market in the region.

The Security Orchestration Automation and Response (SOAR) market comprises key solution providers, such as:

• IBM
• FireEye
• Rapid7
• Cisco Systems, Inc.
• Splunk Inc.
• Tufin
• Swimlane, LLC
• ThreatConnect
• DFLabs
• Demisto (Palo Alto Networks)
• Exabeam
• Ayehu Software Technologies Ltd.
• LogRhythm, Inc.
• Siemplify
• CyberSponse 
• Resolve Systems among others.

The report segments the Security Orchestration Automation and Response (SOAR) market as follows:

Global Security Orchestration Automation and Response (SOAR) Market: Component Segment Analysis

• Solutions
• Services

Global Security Orchestration Automation and Response (SOAR) Market: Deployment Mode Segment Analysis

• Cloud
• On-Premises

Global Security Orchestration Automation and Response (SOAR) Market: Application Segment Analysis

• Network Forensics
• Compliance Management
• Incident Management
• Threat Intelligence
• Workflow Management
• Others

Global Security Orchestration Automation and Response (SOAR) Market: Vertical Segment Analysis

• BFSI
• Energy & Utilities
• Retail
• IT & Telecom
• Government
• Healthcare
• Others

Global Security Orchestration Automation and Response (SOAR) Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa