Market Research Future (MRFR), in its new “Security Orchestration Automation and Response (SOAR) Market” report, reveals that the SOAR market is expected to exhibit a CAGR of 14.6% during the forecast span of 2018 to 2025. As per MRFR, the SOAR market is likely to capitalize on the growing cases of cyber threats. MRFR estimated a valuation of USD 2,027.2 million by 2025, for the SOAR market.
SOAR is a set of distinct technologies that enables companies to gather data and security threats from different sources. Threat analysis and remediation processes for organizations are performed by SOAR software and services, by prioritizing incident response (IR) activities. The increase in application of SOAR tools by enterprises can be a defining factor for the growth of the market. SOAR services perform threat analysis in a systematic digital workflow format. This leads to the automation of various man-driven activities. SOAR deploys three technology sectors that are security orchestration and automation, incident response, and threat intelligence. This expected to increase efficacy of the technology. Hence, this is expected to propel the market.
Various factors are driving the growth of the security orchestration market. These factors, in accordance with the Market Research Future (MRFR) report, include rising security incidents and breaches, rapid development & deployment of cloud-based solutions, and growth in the Bring Your Own Device (BYOD) trend.
On the contrary, frequent cyber-attacks on companies and concerns related to data privacy and security are factors that may hamper the security orchestration market growth over the forecast period.
The Market Research Future report offers a wide segmental analysis of the security orchestration market based on application, component, organization size, deployment, and vertical.
Based on component, the security orchestration market is segmented into service and solution. The service segment is again segmented into support and maintenance, managed services, training and education, consulting services, professional services, and others.
Based on application, the security orchestration market is segmented into network forensic, threat intelligence, compliance management, ticketing solutions, and others. Of these, the network forensic segment will have the largest share in the market over the forecast period.
Based on deployment, the security orchestration market is segmented into on-premise and cloud.
Based on organization size, the security orchestration market is segmented into large enterprises and small and medium enterprises.
Based on vertical, the security orchestration market is segmented into retail, BFSI, IT and telecommunication, healthcare, government, and energy and utilities.
Detailed Regional Analysis
The regional study of SOAR market has been conducted across North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
North America has the largest market share as the companies in this region are investing significantly in R&D activities, which has led to the advancement of technologies in security orchestration and automation. The US leads the market in North America due to high adoption of digital transformation to support large volumes of critical data; as a result, the need for SOAR platform is the highest in the country.
Europe is expected to be the second-largest market during the review period due to the rising need among enterprises across verticals and managed security service providers to comply with the regulations imposed by governments. Asia-Pacific is anticipated to be the fastest-growing market in the global SOAR market during the forecast period. The rise in the adoption of SOAR for security incident and response, security orchestration and automation and threat intelligence are the key drivers for the growth of the market in Asia-Pacific.
Market Key Players
MRFR listed a few players that are prominent in the global SOAR market. They are; IBM Corporation (US), Cisco Systems, Inc. (US), Swimlane, LLC (US), FireEye Inc. (US), Palo Alto Networks (US), Splunk Inc. (US), Rapid7 (US), DFLabs (Italy), LogRhythm, Inc. (US), Cyberbit (Israel), ThreatConnect (US), D3 Security (US), CyberSponse (US), Resolve Systems (US), Ayehu Software Technologies Ltd. (US), Exabeam (US), Tufin (Israel), ATAR Labs (Europe), Siemplify (US), Security (US), and EclecticIQ (Netherlands).
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