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Market Overview:
The Security Orchestration Market size is estimated to reach $8.2 Million by 2030, growing at a CAGR of 8.2 % during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled Security Orchestration Market - By Type (Software, Service), By Functionality (Security Information and Event Management (SIEM), Orchestration and Automation, Threat Intelligence, Incident Response), By Deployment Model (On-Premises, Cloud-Based), By Industry (Financial Services, Healthcare, Government, Retail, Technology, Other), By Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), By Geography - Opportunity Analysis & Industry Forecast, 2024-2030”.
Technological advancements have improved connectivity but increased cyber risks. This, combined with the rising adoption of cloud-based solutions has led to a surge in demand for security orchestration solutions.
North America is leading the market
North America alone constitutes 37% market share in the security orchestration market. North America has always been the forerunner when it comes to technological advancements such as cloud computing, big data, and AI. This resulted in early adoption, and thereby it created a fertile ground for both development and adoption of security orchestration solutions. Indeed, the region boasts a number of technology hubs and research institutions that foster innovation in cybersecurity. With a hub of several of the biggest cybersecurity and technology companies such as IBM, Palo Alto Networks, Cisco Systems Inc., and FireEye it drives the creation of advanced security orchestration technologies.
Security Orchestration Market: Key Takeaways
Rising Cyber Threats Drive Demand
The growing trend of frequency and sophistication in cyber-attacks is driving organizations to automated and efficient security solutions. In July 2024, Check Point Research Reports Highest Increase of Global Cyber Attacks seen in last two years a 30% Increase in Q2 2024 Global Cyber Attacks. Security orchestration platforms offer a comprehensive solution to taping these challenges. Security orchestration can help organizations reduce the incidence of threats through automation of routine tasks, smoothing incident response processes, and paving the way for easy integrations with a variety of security tools.
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Regulatory and Compliance Pressure Boosts Adoption
Complex regulatory and compliance requirements, however, remain the key driver. This is where security orchestration solutions can allow an organization to automate routine tasks from identification and mitigation of risks to providing evidence of compliance against industry standards. Such regulations include but are not limited to GDPR, HIPAA, and PCI DSS. Furthermore, security orchestration allows an organization to manage risk much more effectively, beyond mere compliance with relevant regulations and legislation, by automating routine activities and offering an insight in real time into the security posture to swiftly fix potential threats before they turn into severe damage.
Scope of the Report:
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Recent Developments
• In October 2024, Airtel Business, the enterprise arm of Bharti Airtel, has announced a collaboration with the cybersecurity firm Fortinet to launch Airtel Secure Internet to provide businesses fully managed protection against cyber threats.
• In August 2024, HPE to acquire Morpheus Data to round out hybrid cloud orchestration capabilities. They will add multicloud automation and orchestration to its Green Lake hybrid cloud and complement the observability capabilities it picked up with its acquisition of OpsRamp Inc. last year.
• In March 2024, Cisco Systems Inc. completed the acquisition of Splunk, setting the foundation for delivering unparalleled visibility and insights across an organization’s entire digital footprint.
Security Orchestration Market: Competitive Landscape
Key companies profiled in the Security Orchestration Market are IBM Corporation, Cisco Systems Inc., FireEye Inc., Cybereason, CrowdStrike, Accenture plc, AWS, Swimlane LLC, Tufin Software Technologies Ltd, Palo Alto Networks and others.
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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
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IndustryARC
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