Home > Technology > Latin America Security Orchestration Market Analysis, Trends, Forecast Up to 2030
Straits Research

Latin America Security Orchestration Market

Latin America Security Orchestration Market Predicted to Surpass USD 842 Million by 2030 and Grow at 15.75% CAGR

Table of Content Download Sample

Market Overview

The worldwide security orchestration market is anticipated to be worth USD 10,207 million by 2030, expanding at a CAGR of 17% during the forecast period (2022–2030).

Security orchestration is the act of linking security tools and integrating various security systems using a linked layer to expedite security operations and enable security automation. It brings together different cybersecurity technology and procedures to make security operations easier and more effective, with numerous security tools in place to prevent, detect, and mitigate attacks.

Security orchestration enables organisations to automatically respond to security alerts by leveraging deep technology integrations with existing tools that can quickly gather contextual alert data from various sources, analyse security intelligence, and recommend a course of action for automating the required preventative actions.

Security operations teams frequently employ a plethora of cybersecurity security solutions to avoid, identify, and mitigate risks. If these strategies and resources aren't adequately integrated into a cohesive ecosystem, inefficiencies raise security concerns and employee morale.

Threat and vulnerability management, response to security events, and security operations automation are the three most important capabilities of security orchestration, automation, and response solutions. Techniques for managing threats and vulnerabilities aid in vulnerability repair. They provide defined workflow, reporting, and collaboration capabilities. Security response technologies assist an organisation in planning, managing, tracking, and coordinating its response to a security incident. Workflows, processes, policy execution, and reporting automation and orchestration are all promoted by security operations automation.

Security orchestration refers to technology that enables organisations to collect inputs that are then examined by security operations. Signals from the SIEM system and other security technologies, for example, can help define, prioritise, and drive standardised incident response procedures by combining human and machine power to carry out event analysis and evaluation. In a digital workflow framework, a company may employ security orchestration technologies to establish issue analysis and response strategies.

Latin America: 842 million USD (2030 value); CAGR: 15.75%

Market Snapshot

Base Year:
Study Period:
15.75 %
Get more information on this report Download Sample Report

Market Dynamics

Latin America Security Orchestration Market Drivers

Cyber threats are internet-based attacks that use spyware, malware, and phishing to harm or disrupt information systems and hack crucial information. Cybersecurity solutions assist organisations in monitoring, detecting, reporting, and countering cyber threats in order to ensure data confidentiality.

The region's expanding digital penetration, reinforced by internet usage and mobile development, is driving need for cybersecurity. According to Atlantico, technology penetration as a proportion of GDP is quickly increasing at a rate of 65 percent year on year. Furthermore, the area is seeing an increase in the use of technologies such as IoT in the industrial sphere.

The potential of misuse is increasing as Latin America embraces the digital revolution. The area has the fourth-largest mobile market in the world. Half of the country's population uses the Internet. Some nations in Latin America conduct all government purchases electronically. With the emergence of the Internet of Things, not just computers, but also all types of smart gadgets and sensors, the danger will continue to rise.

Cyber threats are internet-based attacks that use spyware, malware, and phishing to harm or disrupt information systems and hack crucial information. With Latin American countries' rising Internet penetration, the usage of cybersecurity solutions is likely to expand. Furthermore, the growing wireless network for mobile devices has increased data risk, making cybersecurity an essential component of any firm in Latin America. Rising cyber-attack incidences and reporting rules are propelling the Latin American cybersecurity sector forward.

Brazil is a growing economy with increased investment in IT infrastructure as well as expanding smartphone and internet adoption. Although the country is developing toward modern ICT, it lacks sufficient cybersecurity safeguards, which allows hackers to exploit loopholes. As a result, the rising M2M or IoT connections are increasing need for cybersecurity solutions.

Latin America Security Orchestration Market Restraints

However, the absence of a cyber security profession has been an issue, inhibiting the expansion of the Latin American cybersecurity sector.

Segmental Analysis

The worldwide security orchestration market has been segmented by type, end-user sector, and geography.

By type, the Latin America security orchestration market has been divided into software and services. The software type category is likely to dominate the worldwide market, with a forecasted value of USD 5,660 million by 2030, representing a 16 percent CAGR over the forecast period.

According to Risk Based Security, data breaches exposed 4.1 billion records in the first half of 2019. Similarly, 68 percent of company leaders say their cybersecurity risks have grown, according to a recent Accenture research. Emerging dangers and shared security obligations between cloud service providers and businesses are driving the rise of detection technology. As a result, throughout the projected period, demand for advanced software solutions to combat cyber-security risks is expected to rise.

The Latin America security orchestration market has been divided by end-user industry into BFSI, IT and telecommunications, government and defence, eCommerce, and Others. The end-user industry segment of IT and telecommunications is predicted to dominate the worldwide market. By 2030, it is expected to reach USD 2,168 million, representing a 16 percent CAGR over the projection period.

Regional Analysis

The Latin American Cybersecurity Market was estimated at USD 5.73 billion in 2021, with a CAGR of 11.8 percent predicted over the forecast period (2022-2027). With the current COVID-19 pandemic outbreak, enterprises throughout the world must respond proactively to cyber threats that have increased during the epidemic. As a result, cyber resilience, defined as a sector's or organization's capacity to respond to, prepare for, and recover from cyberattacks, has become a must rather than a choice in the current context.

Latin American emerging markets are the most vulnerable to hackers and breaches since they are still battling with cybersecurity. As things are, Latin America lacks the solid cybersecurity foundation essential to protect its enterprises' future. Cybercrime has mostly expressed itself in Latin America through computer hacking tactics such as malware, phishing, and denial of service (DoS) assaults.

The potential of misuse is increasing as Latin America embraces the digital revolution. The area has the fourth-largest mobile market in the world. Half of the country's population uses the Internet. Some nations in Latin America conduct all government purchases electronically. With the emergence of the Internet of Things, not just computers, but also all types of smart gadgets and sensors, the danger will continue to rise.

Cybersecurity incidents in the region are fast increasing as enterprises increasingly embrace digitalization and linked solutions as part of their operations. According to IBM, the number of data breaches in Brazil increased by 29 percent in 2020, the largest growth in the world. Such changes are increasing the region's demand for cybersecurity solutions.

SoftBank Group, for example, announced the opening of the SoftBank Latin America Fund II, its second dedicated private investment fund focusing on Latin American technology businesses, in September 2021, with a USD 3 billion initial commitment.

As a result of these trends, nations like as Colombia, Brazil, and Mexico are projected to be in the forefront of increased security budgets in the next years. According to a Cyber Edge report, Colombia, Brazil, and Mexico are likely to lead the way in terms of global security budget increases.

Regional Growth Insights Download Free Sample

Top Key Players of Latin America Security Orchestration Market

  1. GM security technologies
  2. IBM Corporation
  3. Tufin Software Technologies Ltd
  4. DXC Technology Company
  5. Cisco System Inc.
  6. Swimlane LLC
  7. RSA Security LLC
  8. FireEye Inc.
  9. DFLabs SpA
  10. Palo Alto Networks Inc.
  11. Siemplify Ltd
  12. Accenture PLC
  13. SIRP Lab Ltd
  14. Rapid7 Inc.
  15. Forescout Technologies Inc.

Report Scope

Report Metric Details
CAGR 15.75%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Type
    1. Software
    2. Services
  2. By End-User Industry
    1. BFSI
    2. IT & Telecommunication
    3. Government & Defence
    4. E-Commerce
    5. Others

Recent Developments

Telefónica Tech and CyberArk have partnered to provide an extended range of SaaS-based cybersecurity solutions that focus a security-first approach to defending against identity-driven risk. Customers will also benefit from the ability to safeguard access for both human and machine identities while maintaining business agility.

Check Point Software Technologies Ltd, one of the world's top providers of cyber security solutions to corporations and agencies, announced the purchase of Avanan, the fastest-growing cloud email security startup, in August 2021. For emails and SaaS collaboration suites, Avanan technology delivers the greatest degree of security. Avanan will be integrated into the Check Point Infinity unified architecture to provide the most secure email security product in the world.

Movistar announced the first application of IoT technology in an Argentine public services firm in March 2021. It launched a six-month NB-IoT network experiment with Edenor, enabling remote intelligent metre reading and remote detection of problems, unauthorised connections, and power line cuts.

Amazon Web Services (AWS) announced cooperation with two Latin American operators in March 2022, highlighting a global trend in cloud-telecoms collaboration. Meanwhile, Claro's partnership with AWS will speed the adoption of cloud-based apps while also supporting in the enhancement of IoT services to serve a wide range of business verticals.

Latin America Security Orchestration Market Segmentation

By Type

  • Software
  • Services

By End-User Industry

  • BFSI
  • IT & Telecommunication
  • Government & Defence
  • E-Commerce
  • Others

By Country

  • Brazil
  • Argentina
  • Mexico
  • Colombia
  • Peru
  • Chile
  • Rest Of Latin America
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Samsung Electronics
Need Assistance?
+1 646 480 7505 (U.S.)
+44 208 068 9665 (U.K.)

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers