Security Orchestration Market Size Worth is expected to reach US$ 7.7 Bn by 2027

 Security Orchestration Market to 2027 by Component (Software and Services); Deployment Type ( On-Premise and Cloud); Function (Network Security, Threat Intelligence, Compliance Management, Ticketing Solutions, End-Point Security and Others); Type of Enterprise (Small & Medium Scale and Large Scale); and End User (BFSI, Government, IT & Telecom, Manufacturing, Healthcare & Pharmaceuticals, and Others)

The global Security Orchestration Market has witnessed substantial growth in the past few years owing to unprecedented investment focused towards minimizing enterprise exposure cyber security and automation of low-level threats alerts and notification. Also, the continuous investment towards leveraging the benefits of artificial intelligence and machine learning towards facilitating efficient incident management and an automated response, has fueled the market growth especially among developed economies such as North America and Europe. Whereas among emerging economies in Asia-Pacific and Middle East & Africa regions the growing end-user industries coupled along with the government expenditure towards critical utilities is expected to drive the market growth in these regions.

The security orchestration market by function is dominated by the ticketing solution in 2018 however, the end-point security segment is expected to gain market share during the forecast period. The end-point security in security orchestration provides pre and post incident investigation, prevents data breaches in real time, and automatically orchestrate incident investigations and response. It provides orchestration, detection, investigation, remediation, prevention, and management console. The global security orchestration market was valued at US$ 0.84 Bn in 2018 and is expected to reach US$ 7.7 Bn by 2027 with an attractive CAGR growth rate of 28.8% in the forecast period.               

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Some of the companies operating in the market are CyberSponse, Inc, DFLabs S.p.A., FireEye, Inc., Microsoft Corporation (Hexadite), Tufin, Phantom Cyber Corporation (Splunk Inc.), Demisto, Inc., Siemplify Ltd., Cyberbit Ltd. and Swimlane LLC among others.

The growing popularity of connected devices coupled with increasing scope of application of IoT enabled products and services has boosted the volume of data being generated globally. Moreover, simultaneously the number of potential vulnerabilities and large scale cyber-attacks has also risen in the past few years. As a result, the cyber security continues to gain significance among leading enterprise and subsequently driving the demand for efficient and robust cyber security solutions for their organization. Thus, over the years various market players have positioned themselves for catering to different cyber security requirement. Among these, the security orchestration software and solutions facilitates the organization especially their SOCs (Security Operations Center) and related corresponding teams in improving the cohesion of various technology and process security posture. The security orchestration solutions promotes a fine balance between security automation and human supervised security monitoring and response.

Factors such as increasing number of large cyber security threats coupled with stringent cyber security legislation and regulations are the major factors driving the growth of cyber security based solutions. Moreover, the growing popularity of automation and adoption of AI enabled solutions especially among large enterprise owners is also expected to have profound and positive influence over the growth of the security orchestration market in the coming years. The increasing demand for automated incident response and use of AI enabled solutions is also expected to drive the market growth in the coming years. Thus, the market is poised to provide numerous profitable opportunities for the market players in the coming years.

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