Market Research Future (MRFR) analysed the global security orchestration market 2020 through the study period till 2023. By 2023 the global security orchestration market can rise at about 15% CAGR. By end of the analysis period, the value of security orchestration global market can touch USD 2,123.5 Million. The forces that can influence the market dynamics are discussed vividly in the report. The impact of novel coronavirus outbreak on market of security orchestration market is presented in the report. Increase in demand for security orchestration solution can favor expansion of the market in the near future. The rise in demand to improve security operations threshold of different enterprises can support expansion of the market. The growing application of technological integration and surge in deployment of tools that can aid enterprises adopt advanced security technologies for the protection of both external resources and internal resources can favor the security orchestration market in the study period.
Drivers and Constraints Impacting the Market
With the rapid deployment of cloud-based solutions, the global security orchestration market is considered to propel. The growing BYOD trend coupled with the augmenting incidents associated with security breaches is some of the major factors contributing the market growth. With threats in the global market becoming more prominent and dangerous, the growing business is being hampered to a great extent besides harming the critical data. Thus, enterprises are extensively deploying security orchestration solutions in order to protect the networks from threats and data breaches. Such factors are likely to fuel the market growth across the globe. The advantages offered by the solutions further propels the security orchestration market. The indistinguishable and immediate access to the archive data, growing application retirement processes in order to shorten the time to cost savings, and enabling critical data to survive longer than the originating databases or applications are some of the benefits offered which further influences the market growth to a great extent.
On the flips side, lack of knowledge regarding the security orchestration coupled with the lack of awareness about advanced cyber threats is some of the major concerns likely to impede the market growth. Moreover, managing security alerts and augmenting network complexity along with frequent changes in the network infrastructure are considered to dampen the market growth throughout the appraisal period.
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The segment evaluation for the worldwide security orchestration market is done by component, deployment, organization size, vertical, and application. The component-based segments of the security orchestration market are service and solution. The service-based segments of the security orchestration market are support and maintenance, consulting services, professional services, managed services, and training and education. The application-based segments of the worldwide security orchestration market are network forensics, threat intelligence, ticketing solutions, and compliance management among others. The deployment-based segments of the worldwide security orchestration market are cloud, and on-premise among others. The organization size based segments of the security orchestration market are large enterprises and small and medium enterprise. The end-user based market segments of the market are IT & telecommunication, energy and utilities, retail, healthcare, and government, BFSI among others.
Geographically, the security orchestration market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the North American region is considered to occupy the largest market share and is likely to retain its dominance during the assessment period. The growth is credited to the presence of major industry players, high demand for cutting-edge technology, and well-established research and development centers in this region.
The Asia Pacific region is likely to expand at the fastest rate in the security orchestration market throughout the assessment period. The growth is credited to the augmenting adoption of cloud-based security solutions coupled with the need for advanced security solutions in order to combat cyber-attacks.
January 30, 2019: The global leader in Security Orchestration Automation and Response, CyberSponse, Inc., has recently announced their integration with Polarity, which is the leading memory augmentation platform. The company excels in optimizing data awareness and recall.
The prominent players operating the global security orchestration market are CyberSponse Inc. (U.S.), Tufin (Israel), Huawei Technologies (China), Cisco Systems Inc. (U.S.), IBM Corporation (U.S.), Intel Security (U.S.), Phantom Cyber Corporation (U.S.), FireEye Inc. (U.S.), Hexadite (U.S.), Swimlane LLC (U.S.), and others.
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Security Orchestration Market Research Report, By Component (Solution, Service), Application (Threat Intelligence, Network Forensic), Deployment (Cloud, on-premise), Organization Size (Large Enterprise), Vertical (BFSI, Retail) – Global Forecast till 2023