Security Orchestration Automation And Response Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Deployment, By Enterprise Size, By Application, By Vertical, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global security orchestration automation and response market size was estimated at USD 1.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.6% from 2023 to 2030. Security orchestration, automation, and response (SOAR) combine three technologies: security orchestration and automation and security incident response. It allows organizations to aggregate vast amounts of data and security alerts from different sources, build automated processes to handle low-level security events more effectively, and standardize threat detection and response procedures. Thus, SOAR is significantly enhancing the organizational ability to detect and respond to cyber-attacks promptly.

The rising cybersecurity skill gap constantly drives the demand for automated threat detection and response processes. The demand for SOAR is rising among organizations as it can alleviate alert fatigue, automate routine tasks, and simplify threat detection and response processes. It helps organizations to focus on complex and critical threats that require more effort and time by automating a series of processes, such as threat detection, alert sharing, and documenting sources of cyber threats. SOAR solution utilizes the gathered information and activates playbooks that use automation and orchestration to execute response tasks.

It frees up security teams allowing them to focus on critical security projects and business objectives. The adoption of SOAR is expected to grow among organizations due to its superior capabilities and applications across areas, such as threat intelligence, compliance management, workflow management, and response procedures. SOAR offers orchestration layers that are highly effective with implementing plugins, such as common use cases, processes, and technologies, which help create pre-built workflows. These pre-build security workflows can then be automated, and the technology stack can be connected to handle routine tasks and processes.

Thus, assists security monitoring teams in taking fast responses against potential security threats and is aimed at supporting the market growth. The rising cybersecurity challenges demand routine updates and patch management across systems, applications, and software to protect against vulnerabilities and threats. Security teams often overlook the monotonous nature of these tasks, exposing critical applications and software to potential security risks. SOAR tools help organizations effectively manage patches by monitoring critical areas and automatically applying patches without much human intervention. Thus, the following capabilities of SOAR are expected to drive the market demand during the forecast period.

Key companies operating in the market are taking significant steps and initiatives, such as new product launches, partnerships, mergers, and acquisitions, to expand their product offerings, customer reach, and global presence. For instance, in April 2023, IBM Corporation announced a new addition to the security space named QRadar. The new suit is designed to accelerate and unify the task of security analysts across the complete incidence lifecycle journey. The IBM QRadar security suite is a significant evolution and expansion in the areas of threat detection, investigation, and response technologies.

Component Insights

The solution segment accounted for the largest share of 75.69% in 2022. The solution segment consists of the SOAR platform as a service and software solutions offered by key players operating in the market to assist customers in threat detection, workflow management, responding, and documenting this critical information on a single platform. The SOAR solutions help reduce the dependency on IT analysts with their inbuilt capabilities of orchestration, automation, and response to common threats and everyday cyber incidents. These are the key factors expected to drive the segment's growth.

The services segment is anticipated to grow at a CAGR of 19.4% during the forecast period. The SOAR services segment includes maintenance, deployment, consultation, customer support, and training services. The growing demand for SOAR solutions and software in various end-use industries, such as BFSI, IT & telecommunications, retail, and healthcare, to strengthen their security capabilities are the primary factors expected to support the segment growth over the forecast period.

Deployment Insights

The cloud-based segment accounted for a market share of 61.80% in 2022. Cloud-based SOAR can be termed a platform as a service solution. It offers organizations a flexible product offering allowing them to choose offerings based on their usage demand, budget, time, and business objectives. It is a cost-effective, flexible way of threat-identifying, unmasking vulnerabilities, alert sharing, and handling routine security tasks across servers, endpoint devices, and networks. These are the primary factors expected to drive the growth of this segment.

The on-premise segment is expected to grow at a CAGR of 13.2% during the forecast period. On-premise security orchestration, automation, & response provide in-house SOAR software and solution offerings that ensure better control and security assurance across their networks, applications, and devices. Furthermore, it offers organizations the utmost flexibility in adopting workflows, forming & managing integrations, or building processes from scratch, based on their focus areas and dynamic security environment. Thus, the defined factors are expected to strengthen the growth of the on-premise segment.

Enterprise Size Insights

The large enterprise segment accounted for the largest share of 52.24% in 2022. The demand for SOAR is constantly rising among large organizations owing to the increasing cybersecurity threats, privacy breaches, and hacking incidences. The primary factor responsible for growing cyber threats is the increased use of connected devices, unsecured networks, and lack of security solutions among traditional organizations. Furthermore, the lack of skilled workforce is encouraging largeorganizations to automate and standardize routine security operations, which is the demand for SOAR solutions.

The SMEs segment is expected to grow at the fastest CAGR of 16.2% during the forecast period. The demand for SOAR is growing among SMEs as it helps organizations with limited budgets and resources effectively handle their security postures. SOAR offers a sophisticated approach and automated processes requiring limited human interventions, effectively conserving time and money. These capabilities assist SMEs in saving costs and resources along with enhancing security awareness, thereby driving segment growth.

Application Insights

The incident response segment accounted for the largest market share of 37.58% in 2022. SOAR helps security teams, and analysts respond to critical security threats and remediate incidents faster by gathering alerts from various sources, automating case prioritizations, and efficiently responding to privacy breaches. It offers a single dashboard representing the ongoing security posture of devices and applications, the planning and designing security tasks, monitoring real-time status, and reporting information related to specific security tasks for future reference. This platform enables smooth collaboration and threat intelligence sharing across the organizational network and teams. Thus, the abovementioned factors are expected to drive the market demand over the forecast period.

The threat intelligence segment is expected to grow at the highest CAGR of 17.3% during the forecast period. SOAR helps organizations in bridging the gap between threat intelligence and response-sharing processes. It collects security alert information and metrics from integrated security tools and external feeds, allowing a centralized representation in the SOAR platform. The SOAR security solution allows analysts to correlate information from different sources, prioritize alerts, filter out false positives, and help identify the critical security tasks that require more effort and time. Thus, the application of SOAR in areas of threat intelligence is expected to drive segment growth.

Vertical Insights

The IT and telecommunication segment accounted for the largest share of 17.37% in 2022. The IT and telecommunication sector experiences higher amounts of data loss, security breaches, and hacking due to highly confidential customer and organizational data, widely spread servers, complex networks, and connected devices. These industries face and tackle various cyberattacks ranging from common threats to undiscovered ones. SOAR helps security analysts automatically identify and handle common vulnerabilities by performing actions, such as threat detection, enrichment, investigation, response, and dissemination to security tools, such as threat intelligence platforms, SIEMs, firewalls, and incident response platforms.

The BFSI segment is expected to grow at a CAGR of 19.1% during the forecast period. The BFSI industries are investing large capital to build connected technology infrastructure to keep up with the growing trends and market demand. On the other hand, these technologies also make them highly vulnerable and prone to security breaches, data theft, and vulnerabilities. The application of SOAR assists these industries in identifying, handling, documenting, and responding to cyber threats more effectively.

Regional Insights

North America held the major share of 34.16% of the target market in 2022. The market is expected to witness lucrative growth opportunities in the region owing to the fast-paced adoption of cybersecurity solutions by key industrial sectors, such as healthcare, BFSI, and IT &telecommunications. Furthermore, according to IBM Data Breach Report 2022, the average cost of data breaches in the U.S. is USD 9.44 million, the highest compared to other countries globally. SOAR solution helps organizations reduce the average time required to identify and respond to vulnerabilities, which helps in saving cost, effort, and time are the key factors expected to drive the demand for SOAR in the North America region.

Asia Pacific is anticipated to grow at the fastest CAGR of 18.2% from 2023 to 2030. The rising technology adoption, including connected web applications, IoT devices, and interface technologies across industries, such as BFSI, IT &telecom, and retail, is increasing the demand for robust security solutions in the region. SOAR ensures cost-effectiveness by reducing dependency on security analysts and helping emerging & small players in the region handle security challenges more effectively.

Key Companies & Market Share Insights

Companies are adopting key strategic initiatives, such as new launches, partnerships, mergers, and acquisitions, to strengthen their platform and solution offerings. For instance, in March 2023, Palo Alto Networks announced the availability of a new identity threat detection and response module (ITDR). It enables customers to ingest behavior data & user identity and deploy state-of-the-art technologies, such as AI, to detect, identify, and drive attacks within response time. It further reduces complexity in the security operation center (SOC) by scrutinizing and integrating identity analytics into a unified SOC platform. Some of the prominent players in the globalsecurity orchestration, automation, and response (SOAR)market include:

• IBM Corporation

• Splunk Inc.

• Palo Alto Networks

• Microsoft Corporation

• Logpoint

• Rapid7

• ServiceNow

• Google - Siemplify

• Fortinet, Inc.

• Swimlane SOAR

• SentinelOn

• BlackBerry Ltd.

• AT&T

• KnowBe4, Inc.

• Tines

Security Orchestration Automation And Response Market Report Scope

Global Security Orchestration Automation And Response Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global security orchestration,automation, and response (SOAR) market reportbased on component, deployment, enterprise size, application, vertical, and region:

• Component Outlook (Revenue, USD Billion, 2018 - 2030)

  • Solution

  • Services

• Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

  • On-premise

  • Cloud

• Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Large Enterprise

  • Small & Medium Enterprises

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Threat Intelligence

  • Network Forensics

  • Incident Response

  • Compliance

  • Others

• Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • IT & Telecom

  • Retail & E-commerce

  • Healthcare

  • Manufacturing

  • Government

  • Education

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa