Security Orchestration Automation and Response (SOAR) Industry, Trends and Size Forecast To 2027
Security orchestration automation and response (soar) industry -Overview
The surging need to consolidate enterprise data is likely to push the development of the SOAR market in 2020. The software reports are produced by Market Research Future, which contains market alternatives for progress. A CAGR of 14.6% is predicted to lead to earnings worth USD 2,027.2 million by 2025.
The upsurge in digitization is predicted to create momentum for the security orchestration automation and response (soar) industry share in the impending period. The growing susceptibilities in data security are forecasted to change the SOAR market in the future.
Segmental Analysis
The segmental insight into the security orchestration automation and response (soar) industry has been conducted based on application, organization size, vertical, component, and region. On the basis of organization sizes, the SOAR market has been segmented into small & medium-sized enterprise (SME) and large enterprises. Based on the application, the SOAR market has been segmented into network forensics, threat intelligence, compliance management, security operations center (SOC) optimization, and others. The component-based segmentation of the SOAR market has been segmented into platform and services. Based on the vertical, the SOAR market has been segmented into BFSI, energy and utilities, healthcare, retail, IT & telecom, government, and others. On the basis of regions, the SOAR market has been segmented into North America, South America, Europe, Africa, Asia-Pacific, and the Middle East.
Detailed Regional Analysis
The regional scrutiny of the SOAR market includes regions such as North America, South America, Europe, Africa, Asia-Pacific, and the Middle East. The North American region has the principal market stake as the businesses in this region are capitalizing considerably towards R&D activities, which has controlled the improvement of technologies in security orchestration and automation. The US is the frontrunner in the region of North America due to the extraordinary implementation of digital transformation to back large capacities of critical data; as a result, the necessity for the SOAR platform is the topmost in the country. The region in Europe is anticipated to gain the second prime market through the forecast period due to the expanding need between enterprises across verticals and managed security service providers to fulfill the guidelines imposed by governments. The SOAR market in the Asia Pacific region is estimated to be the fastest-growing market in the SOAR market all through the forecast period. The intensification in the implementation of SOAR for security orchestration, security incident and response, and automation and threat intelligence is the vital drivers for the evolution of the market in the Asia Pacific.
Competitive Analysis
The need to innovate the product offerings of individual contributors is predicted to give leverage to boost the overall income power of the market. The simplification of the market processes is estimated to create further situations that lead to an increase in the growth momentum of the market. The employment of analytical tools is estimated to spur the enhancement of the products being distributed at a global scale in the market, to meet the specific requirements of the user demographic in a particular region. The market state is attuned to the development of the contenders in the market. The presence of positive economic factors is estimated to guide the continual and fast-paced development of the market. The need to conserve and optimize the output of resources is estimated to guide the expansion of the international market in the upcoming period. The progress of the market in the future is estimated to be triggered by the investments being funneled into the market at present.
The noteworthy contenders in the SOAR market are Cisco Systems, Inc. (US), FireEye Inc. (US), IBM Corporation (US), Ayehu Software Technologies Ltd. (US), and Swimlane, LLC (US), D3 Security (US), Splunk Inc. (US), LogRhythm, Inc. (US), DFLabs (Italy), ThreatConnect (US), Cyberbit (Israel), CyberSponse (US), Palo Alto Networks (US), Rapid7 (US), Resolve Systems (US).
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