Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.44 Billion | USD 5.03 Billion | 14.9% | 2023 |
FrequentlyAsked Questions
The Security Orchestration Automation and Response (SOAR) Market was valued at USD 1.44 Billion in 2023.
The Security Orchestration Automation and Response (SOAR) Market is expected to reach USD 5.03 Billion by 2032, growing at a CAGR of 14.9% between 2024 to 2032.
Global Security Orchestration Automation and Response (SOAR) Market players 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 and Resolve Systems among others.
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.
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