North America Security Orchestration Market Size, Share & Trends Analysis Report By Type (Software, Services), By End-User Industry (BFSI, IT & Telecommunication, Government & Defence, E-Commerce, Others) and By Country(US, Canada) Forecasts, 2024-2032

Market Overview

The North America security orchestration market size is expected to reach a valuation of USD 3753 million by 2030, growing at a CAGR of 17.9% 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.

Market Dynamics

Market driving factors

Because of the presence of a significant number of important security orchestration suppliers throughout the area, such as IBM Corporation, DXC Technology Company, Cisco System Inc., FireEye Inc., and others, North America leads the security orchestration industry.

Several organisations have acknowledged that network complexity has risen in recent years and will continue to rise over the next five years. As a result, network security is critical to preventing hacking and cyber-attacks from compromising industrial operations, and this is where security orchestration comes in. The MTTR (Mean Time to Respond) may be reduced by up to 90% with the right SOAR solution. The number of events resolved every shift might easily increase by threefold.

The market is predicted to develop due to factors such as rising end-user industries, government spending on essential and significant infrastructure, and a well-established R&D centre, as well as the desire for cutting-edge security technologies across the area.

Businesses must deal with the complexity of their IT infrastructures as it grows. According to the 2020 Study on Staffing the IT Security Function in the Age of Automation, automation will be used in the United States and the United Kingdom within the following year. 36% of the 1,027 total respondents, including commercial workers, anticipate to do the same.

Market restraining factors

Many towns in the United States had ransomware attacks in 2020, which cost these businesses a significant amount of money to recover. Baltimore, for example, paid more than USD 18.2 million to recover access to its networked systems. Ransomware recently shut down 23 and 2 communities in Texas and Florida, respectively.

A lack of awareness among specialists about these sorts of assaults is one of the main reasons why firms around the world continue to be victims of cyberattacks and data breaches. Furthermore, one of the main flaws in the preventative measures has been identified as a lack of customer knowledge of the cyber-security issue.

According to Herjavec Group, there will be 3.50 million unfilled cybersecurity positions globally by 2021, up from one million in 2014. This is due to a lack of in-field training for specialists. For enterprises throughout the world to accomplish a significant degree of mitigation, internal awareness and training initiatives will be vital. If businesses want to endure these attacks, this is likely to be the first step.

Regional Analysis

North America is predicted to be the largest security orchestration market by 2030, with a market size of USD 3,222 million and a CAGR of 17%. The North American market is dominated by the United States. Ransomware detections have been more common in nations with a bigger internet user population. The United States leads the pack with 18.20% of all ransomware assaults.

Hackers are always refining their hacks to make them more enigmatic and deadly. According to the Identity Theft Resource Centre, the United States experienced 1001 data breaches in 2020. In addition, in 2020, a major cyberattacks backed by a foreign government attacked hundreds of businesses throughout the world, including several parts of the US federal government, culminating in a series of data breaches. Cyber-attacks of this nature are likely to become more common in the country across domains, causing a surge in demand for security orchestration in the North American market.

North America is seeing significant R&D expenditures in security orchestration and automation technology. The presence of a number of SOAR providers and cutting-edge development centres in the region also contributes to the market's growth. The US dominates the regional market due to its high digitalization, which allows it to accommodate massive amounts of essential data that require SOAR systems.

Segmental Analysis

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

By type, the security orchestration industry 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% 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% 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 North 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% CAGR over the projection period.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

Sumo Logic, a California-based cloud security firm, has announced the acquisition of DFLabs to expand its SIEM (security incident and event management) portfolio. Sumo Logic intends to expand its cloud security capabilities by acquiring DFLabs' SOAR (security orchestration and automation response) software, which will reduce or eliminate error-prone manual operations and speed up threat detection, analysis, and incident response, as well as forensic investigations.

Siemplify and Anomali teamed in January 2021 to supply unified SOAR and TIP. The collaboration began with the goal of integrating the SOAR and threat intelligence platforms to make intelligence-driven security operations simple and accessible to businesses of all sizes. As part of the collaboration, Siemplify will release ThreatFuse, an add-on module for the Siemplify SOAR platform powered by Anomali that embeds threat intelligence across the detection and response lifecycle.

Accenture has picked Nuggets for its FinTech Innovation Lab in February 2021. Nuggets, a digital ID, and payments platform, will strengthen its specific features because of the initiative. Nuggets' decentralised, self-sovereign identification and digital payment platform will be part of Accenture's FinTech Innovation Lab incubator programme.