Product Code: 66511
The security orchestration market is expected to register a CAGR of 17.11% 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.
- Implementation of these solutions has also enabled improved adherence to audit and compliance requirements easily, with proactive policy enforcement and audit and compliance reports, such as ITIL, PCI, Health Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley Act (SOX), and Gramm-Leach-Bliley Act. These factors have been aiding the growth of the market.
Key Market Trends
IT and Telecommunication Sector is Projected to Record Significant Growth
- SOAR tools are helping IT teams to define, standardize, and automate organizations' incident response activities. Majority of the IT organizations are using these tools to automate security operations and processes, respond to incidents, and manage vulnerabilities and threats. Moreover, security orchestration reduces the threat response and resolution time for IT professionals working in enterprise security.
- According to a 2019 Imperva survey of 179 IT professionals, the majority of security operation centers (SOCs) receive more than 10,000 alerts per day, and the average analyst spends nearly 20 minutes on each case. As a result of the sheer volume of alerts, over 60% of security tickets generated are left unaddressed.
- Routine security operations, such as provisioning and deprovisioning access (identity and access management), installing patches, detecting malware, or conducting IP scoring, can save IT operators' time and save the corporation money when automated. The combination of security orchestration and automation allows IT organizations to automate processes that require input from more than one security application.
- There are many startups emerging, which are dealing with such attacks. For instance, UBiqube provides network and security orchestration solutions to telecom operators, IoT/M2M providers, and enterprise customers. It provides vendor-agnostic end-to-end SDN and NFV orchestration solutions and offers APIs to enable network virtualization and automation of service operations and management.
- Palo Alto Networks, a pioneer in cybersecurity, introduced a marketplace in August 2020 for Cortex XSOAR, its extended security orchestration, automation, and response platform that empowers security teams by simplifying and harmonizing security operations across their entire enterprise. The addition of the Cortex XSOAR Marketplace enhances customers' ability to discover, share, and make greater use of automation across their organization. Telecom companies can take advantage of such developments.
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.
- Also, various organizations have admitted that network complexity has increased over the past few years and will continue to increase over the next five years. Therefore, there is a high need for network security to stop hacking and cyber-attacks from securing industrial processes, and that is where security orchestration plays its part. An ideal SOAR solution can help in reduction in MTTR (Mean Time to Respond) by up to 90%. The number of incidents resolved per shift might as well go up by three times.
- 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.
- Businesses need to deal with the increasing complexity of their IT infrastructures. The 2020 Study on Staffing the IT Security Function in the Age of Automation states that in the United States and the United Kingdom are expected to use automation within the next year. Of the 1,027 total respondents, including commercial workers, 36% said they expect to do the same.
- In 2020, many municipalities in the United States recorded ransomware attacks, which have cost these companies a substantial amount for its recovery. For instance, Baltimore spent over USD 18.2 million in regaining its access to its connected systems. Another 23 and 2 towns in Texas and Florida faced system lockdown due to ransomware recently.
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.
- March 2021 - Californian cloud security company Sumo Logic announced their acquisition of DfLabs in a move to compliment the firm's SIEM (security incident and event management) portfolio. The acquisition of SOAR (security orchestration and automation response) software provider DFLabs is slated to extend Sumo Logic's cloud security offerings and reduce or eliminate error-prone manual tasks, as well as accelerate threat detection, analysis, incident response and forensic investigations.
- January 2021 - Siemplify and Anomali partnered to deliver unified SOAR and TIP. The parnership was initiated to integrate the SOAR and threat intelligence platform to make intelligence-driven security operations simple and accessible to organizations of all sizes. As part of the partnership, Siemplify is launching ThreatFuse, an add-on module to the Siemplify SOAR platform, powered by Anomali, which ingrains threat intelligence across the entire detection and response lifecycle
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants
- 4.2.2 Bargaining Power of Buyers/Consumers
- 4.2.3 Bargaining Power of Suppliers
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Impact of COVID-19 on the market
5 Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Rising Trend of Automated Security Operation for Seamless Workflow
- 5.1.2 Need of Disparate Cybersecurity Technologies to Handle Network Complexity
- 5.2 Market Restraints
- 5.2.1 Lack of Awareness among Professionals
- 5.3 Technology Snapshot
- 5.3.1 Security Orchestration, Automation, and Response (SOAR)
- 5.3.2 Playbook and Workflow Automation
- 5.3.3 SOC Dashboards and Reporting
6 MARKET SEGMENTATION
- 6.1 Type
- 6.1.1 Software
- 6.1.2 Services
- 6.2 End-user Industry
- 6.2.1 BFSI
- 6.2.2 IT and Telecommunication
- 6.2.3 Government and Defence
- 6.2.4 E-commerce
- 6.2.5 Other End-user Industries
- 6.3 Geography
- 6.3.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 6.3.2 Europe
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Germany
- 184.108.40.206 Rest of Europe
- 6.3.3 Asia-Pacific
- 220.127.116.11 China
- 18.104.22.168 Japan
- 22.214.171.124 Australia
- 126.96.36.199 Rest of Asia-Pacific
- 6.3.4 Rest of the World
- 188.8.131.52 Latin America
- 184.108.40.206 Middle-East & Africa
7 COMPETITIVE LANDSCAPE
- 7.1 Company Profiles
- 7.1.1 IBM Corporation
- 7.1.2 Tufin Software Technologies Ltd
- 7.1.3 DXC Technology Company
- 7.1.4 Cisco System Inc.
- 7.1.5 Swimlane LLC
- 7.1.6 RSA Security LLC
- 7.1.7 FireEye Inc.
- 7.1.8 DFLabs SpA
- 7.1.9 Palo Alto Networks Inc.
- 7.1.10 Siemplify Ltd
- 7.1.11 Accenture PLC
- 7.1.12 Amazon Web Services Inc.
- 7.1.13 Cyberbit Ltd
- 7.1.14 Forescout Technologies Inc.
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS