Security Orchestration Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Security Orchestration Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • March 2021 •
  • 158 pages •
  • Report ID: 6039504 •
  • Format: PDF
The security orchestration market is expected to register a CAGR of 17.6% during the forecast period (2021 - 2026). The implementation of security orchestration across various organizations can help manage security alerts and prevent severe cyber-attacks. As the sophistication level in cyber-attacks is increasing, security vendors are trying to develop better orchestration platforms to provide proactive and holistic security architecture to handle critical business applications.

- An increase in the security breaches and occurrences due to dramatic growth in the BYOD trend affecting SMEs, along with the rapid deployment and development of cloud-based solutions, is fueling the application of security orchestration among various organizations.
- A rise in the application of network forensics is expected to drive the market demand, as a growing number of companies are adopting the security orchestration platform to monitor and manage their computer network traffic.
- Growing adoption of various IT enabled services and solutions, due to the growing popularity of connected devices, has further boosted the amount of data generated daily, subsequently resulting in a vast scope for potential vulnerabilities that need effective management and containment.

Key Market Trends
IT and Telecommunication Sector is Projected to Record Significant Growth

- As the IT sector is growing day by day, the network architecture and network complexity are also becoming denser in nature, due to which, organizations are continuously undertaking frequent changes to strengthen their network architecture according to business needs. To overcome these issues, organizations need a single security solution, which can easily adapt to the network changes and manage the network complexity through a single console.
- The security vendors across the telecom sector are trying to develop their orchestration platforms, in order to provide advanced security to the critical business applications, owing to the rise in cyber attacks across the emerging market.
- Moreover, with the proliferation of cloud computing and the data-on-demand generation across data centers, the technological environment has become highly critical, as many organizations are creating their business plans around the capabilities of IT premises. With the help of powerful security management suites, IT companies are able to orchestrate the automated security platform across application-centric solutions for managing complex policies across firewalls and related security infrastructure.

North America Accounts for the Largest Market Share

- North America dominates the security orchestration market, owing to the existence of a large number of prominent security orchestration vendors across the region, such as IBM Corporation, DXC Technology Company, Cisco System Inc., FireEye Inc., etc.
- Factors, such as the growing end-user industries, government expenditure toward critical and important infrastructure, and well-established R&D center, along with the demand for cutting-edge security technology across the region, are expected to drive the market growth.
- Industries, such as banking, healthcare, and government organizations, which hold databases of sensitive information, are the preferred targets for hackers. To safeguard such critical data, there is a need for robust intrusion protection and security solutions, along with suitable network security solutions.

Competitive Landscape
The security orchestration market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Moreover, due to the emergence of the cloud network segment, most of the companies are increasing their SOAR market presence, thereby tapping customers across the subsequent markets.

- April 2019 - Swimlane announced its launch of Channel Program and Technical Alliances Program. The SOAR solution is also available on Linux with support for Docker and Kubernetes, allowing for an improved DevSecOps approach to cybersecurity.
- March 2019 - RSA unveiled the newest version of its market-leading SIEM, RSA NetWitness Platform, which features machine learning models based on deep endpoint observations, to rapidly detect anomalies in user’s behavior to uncover evolving threats. This announcement furthers RSA’s strategy to help customers take a unified, phased approach in managing digital risk, an ever-increasing challenge faced by organizations with ambitious digital transformation initiatives.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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