Security Orchestration Market Size, Share & Trends Analysis Report By Type (Software, Services), By End-User Industry (BFSI, IT & Telecommunication, Government & Defense, E-Commerce, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global security orchestration market size is expected to reach a valuation of USD 10,207 million by 2030 growing at a CAGR of 17% during the forecast period (2022–2030).

Security orchestration relates to technology that allows businesses to gather inputs analyzed by security operations. Signals from the SIEM system and other security technologies, for example, can assist define, prioritizing, and driving standardized incident response operations by employing a combo of human and machine power to execute event analysis and assessment. An organization can use security orchestration tools to define issue analysis and response plans in a digital workflow structure.

Security operations teams often use dozens of cybersecurity security solutions to prevent, identify, and mitigate threats to avoid, identify, and mitigate threats. Inefficiencies increase security threats, and reduced employee morale arises if these techniques and resources aren't effectively integrated into a coherent ecosystem.

Market Dynamics

Market Drivers

• Need for Disparate Cybersecurity Technologies to Handle Network Complexity

Many manufacturers and linked gadgets are burdening today's network infrastructure. Many firms are ignorant of the measures to establish network security because of overburdened networks. Also, as the number of connecting points to enterprise networks grows, the network becomes more complex. Hybrid networks, cloud networks, physical networks, and end-device connectivity, including mobile phones, are key security challenges for businesses.

Also, with an expanding number of devices to handle, ever-increasing volumes of data, and IT advancements, IT infrastructure is becoming more complex. Hackers also analyze the system's complexity before launching an assault. Threats, network complexity, and inefficient tools are driving change in the cybersecurity arena, according to a poll of IT and information security professionals conducted by Enterprise Strategy Group (ESG) in March 2020.

However, most organizational networks have grown over time due to several rounds of technology upgrades and application evolutions, making it difficult for the security team to fully understand the network and security environment, leading to cyber intrusions. As a result, businesses are increasingly implementing security orchestration solutions, which assist in addressing network security concerns by centrally managing and controlling enterprise security.

Overall, the market is likely to experience growth during the forecast period due to the requirement for different cybersecurity technologies to tackle network complexity, as security orchestration connects various SOC tools and processes to automate tasks for more accessible and more effective security operations.

Market Drivers

• Rising Trend of Automated Security Operation for Seamless Workflow

With the ongoing evolution of cyberspace, the SOC must likewise develop to support the desire for better visibility into dangers and rapid analysis of those threats. As a result, process automation is a must for a SOC and may be used in various verticals, including workflow automation, incident analysis, and threat response.

Likewise, the increased volume, velocity, and complexity of assaults are driving up the need for automated security operations. The human/SOC analyst's ability to observe, visualize, calculate, and grasp the linkages is typically limited by the complexity of cyber-attacks. As a result, precisely anticipating risk in various scenarios is complex.

The speed with which attacks occur is also pushing the demand for automation. According to the Microsoft Global Incident Response and Recovery Team, attackers can go from phishing email-based endpoint infection to complete domain control in less than 24 hours. Likewise, the number of cyberattacks and security events that security operation centers deal with daily increases. All of this is fueling the trend of security operations automation for a more fluid workflow, driving the market growth.

Similarly, many security solution providers are exploring using security orchestration solutions to automate their procedures. For example, Cyberbit announced in January 2021 that the XSOAR platform is now available on the Cyberbit skills development platform and is integrated into hands-on incident response simulation exercises that employ orchestration and automation. Also included in the Cyberbit skills development platform will be XSOAR, which will join a growing list of market-leading cybersecurity technologies such as the Palo Alto Networks Next-Generation Firewall, top SIEM solutions, and endpoint security solutions.

Overall, the market is likely to experience growth over the forecast period due to the rising trend of automated security operations for seamless workflow in various companies.

Market Restraints

• Lack of Awareness Among Professionals

One of the key reasons companies worldwide continue to fall prey to cyberattacks and data breaches is a lack of understanding among experts about these types of attacks. Furthermore, it has been observed that one of the critical shortcomings in the preventive measures is a lack of awareness among consumers about the cyber-security issue.

For example, the recent Riviera Beach incident resulted from an unintentional opening of an attachment in an e-mail, which disseminated the attack. The ransomware hackers also succeeded in obtaining USD 600,000 from the city of Riviera Beach, Florida, to unlock computer systems and restore critical data.

Also, according to Herjavec Group, by 2021, there will be 3.50 million unfilled cybersecurity jobs globally, up from one million in 2014, due to a shortage of in-field training for professionals. In-house awareness and training programs will be critical for organizations worldwide to achieve a considerable level of mitigation. This is likely to be the first step for enterprises if they wish to withstand these attacks.

Moreover, many companies worldwide are addressing this problem, including increasing their investments in cybersecurity training for employees, which is the most crucial step in increasing cyber threat understanding among experts to incorporate and deploy appropriate products and techniques to mitigate threats.

Overall, the market growth is likely to be hampered by a lack of awareness regarding cybersecurity problems among various professions.

Future Key Opportunities

• Rising Investments

Across the IT industry, intelligent automation is making a difference. Due to severe labor scarcity, cybersecurity automation has become highly critical. Companies are employing unskilled workers who are juggling dozens of tools simultaneously. As a result, firms are searching for security automation and response solutions, also known as SOAR (Security Orchestration, Automation, and Response) platforms, to bridge the gap between untrained personnel and rising security needs.

Thus, the key players' rising investments and mergers & acquisitions to secure against cyber-attacks are increasing, which is anticipated to provide growth opportunities for the global security orchestration market during the forecast period.

For example, in 2020, Check Point Software Technologies, a prominent global provider of cybersecurity solutions, has announced a new agreement with Siemplify to make the Siemplify Security Operations Platform available to its global client base. The Siemplify platform interfaces with Check Point systems to provide security operations center (SOC) personnel with a suitable workbench for quickly recognizing, triaging, and blocking threats.

Regional Analysis

Supremacy of North America Over Others

The global security orchestration market share has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

With a market value of USD 3,222 million by 2030, registering a CAGR of 17%, North America is expected to be the largest security orchestration market. The United States drives the North American market. Ransomware detections have been more prevalent in countries with larger populations of internet users. With 18.20% of all ransomware attacks, the United States leads the pack.

Hackers are continuously improving their cyberattacks to make them more mysterious and dangerous. As per the Identity Theft Resource Center, there were 1001 data breaches in the United States in 2020. Also, in 2020, a significant cyberattack supported by a foreign government breached hundreds of organizations worldwide, including multiple elements of the US federal government, resulting in a series of data breaches. Such cyber-attacks are expected to increase in the country across domains, inciting demand for security orchestration in the North American market.

With an expected market value of USD 2,610 million by 2030, registering a CAGR of 18%, Asia-Pacific is the second-largest market for security orchestration. During the forecast period, the heaving number of connected devices and the increasing adoption of internet of things technologies across multiple industries in the Asian countries like China, India, and others are expected to drive the adoption of security orchestration solutions to monitor these devices' cyber threats constantly.

Firms must be as swift and efficient when combating evolving cyber threats as possible. On the other hand, companies have been wasting time on routine chores. For example, most security operations centers have found that investigating every login failure to find anomalous logins and then going to the directory to restrict these users is inefficient. As a result, demand for security orchestration solutions has skyrocketed.

Segmental Analysis

The global security orchestration market share has been classified based on the type, end-user industry, and regions.

The security orchestration market has been segmented into software and services based on type. The software type segment is expected to dominate the global market, and it is projected to reach USD 5,660 million by 2030, registering a CAGR of 16% during the forecast period.

In the first half of 2019, data breaches exposed about 4.1 billion records, according to Risk Based Security. Similarly, according to a recent Accenture poll, 68% of corporate leaders believe their cybersecurity risks have increased. The growth of detection technologies is driven by emerging threats and shared security responsibilities between cloud service providers and companies. Thus, the demand for advanced software solutions to tackle cyber-security threats is likely to grow during the forecast period.

Based on the end-user industry, the security orchestration market has been segmented into BFSI, IT and telecommunication, government and defense, eCommerce, and Others. The IT and Telecommunication end-user industry segment is expected to dominate the global market. It is projected to reach USD 2,168 million by 2030, registering a CAGR of 16% during the forecast period.

The SIM swap scam, which allows hackers to take control of a person's mobile identity, is another emerging vector of attack against telcos. Hackers have exploited it to steal millions of dollars from bank accounts and take over politicians' and celebrities' online personas. As SIM swap scams primarily target telecom users, they are difficult to identify until it is too late, or victims discover their bank accounts and social media accounts have been emptied.

Thus, to tackle these challenges, the demand for security orchestration is likely to grow in the IT and telecommunication sector during the forecast period.

Impact of covid-19

During the COVID-19 outbreak, the security orchestration industry grew significantly, as security technologies and solutions were embraced and enterprises used remote work access, despite the country-wide lockdowns. According to Google's data, the corporation blocks over 18 million COVID-19 spamming e-mails daily.

Also, schools were closed, and people were encouraged to stay at home during the initial pandemic of the virus. Many businesses were looking for solutions to allow their staff to work from home. As a result, more people are using video communication tools. In the four months following the viral outbreak, new domain registrations on various video communication sites, including Zoom, skyrocketed. According to Checkpoint Security, over 1,700 new domains have been registered since January 2020, with 25% reported in the first week of March 2020. Additionally, cybercriminals have begun to target these platforms due to this.

For example, in March and April 2020, Zoom meetings were held worldwide. The national agency to combat cyberattacks, CERT-In, has stated that unprotected Zoom usage could be exposed to hackers. However, during the lockdown, the site was not the only one targeted. The increase in the number of attacks on these platforms surged the demand for security orchestration solutions.

As a result, the security orchestration market has seen substantial growth. Many businesses rely on these solutions to integrate their existing security platforms and automate the complete process, as the scale of cybersecurity-related incidents has multiplied during pandemic times.

Market Recovery Timeline and its Challenges

For the global security orchestration market, the post-pandemic stage will be crucial. Lower demand as the pandemic passes may slow the recovery. Still, reasons such as escalating cyber-attacks and the risk of data loss will continue to boost market growth over the forecast period. Overall, the global security orchestration market will rebound quickly.

Recent Developments

• March 2021- Sumo Logic, a cloud security startup based in California, has announced the purchase of DFLabs to add to its SIEM (security incident and event management) portfolio. Sumo Logic plans to expand its cloud security capabilities by acquiring SOAR (security orchestration and automation response) software company DFLabs, which will decrease or eliminate error-prone manual operations and speed up threat detection, analysis, and incident response, and forensic investigations.
• February 2021- Accenture has chosen Nuggets for its FinTech Innovation Lab. As a result of the program, Nuggets, a digital ID and payments platform, will improve its particular features. Nuggets will participate in Accenture's FinTech Innovation Lab accelerator program by decentralized, self-sovereign identity and digital payment platform.
• January 2021- Siemplify launched the Siemplify cloud, allowing end-users and MSSPs to get more value from SOAR faster than ever before by reducing most of the burden associated with establishing, managing, and operating a SOAR platform.
• June 2020- DFLabs announced the debut of new OT and IoT capabilities. IncMan SOAR provides a bridge between IT and OT SecOps due to its interactive nature while improving security operations for its clients and partners. IncMan SOAR acts as connective tissue between IT and OT by creating a common platform that allows them to gather information about the nature of the cyber-attack quickly, assign the right person to make appropriate decisions, generate accurate KPIs, and pursue shared objectives in an all-in-one platform.
• February 2020- Cisco unveiled a cloud-native security platform that unifies visibility across its portfolio and user infrastructure, automates security procedures, and includes managed threat-hunting capabilities. Cisco claims it is the most comprehensive and complete cloud-native security platform available.