The global market for cyber security has witnessed some profound changes in the past few years owing to growing awareness towards data security, coupled with an increase in the number of threats related to cyber security. Moreover, the rise in adoption of various IT enabled services & solutions growing the popularity of connected devices has further boosted the amount of data generated daily, subsequently resulting in vast scope for potential vulnerabilities that need effective management as well as control. Thus, the surge in demand for effective and efficient cyber security solutions that offers seamless monitoring of various alerts, events notification and reporting of unauthorized access is anticipated to be the significant market driving force for the global security orchestration market in the coming years.
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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.
The security orchestration market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is expected to be the fastest growing region in the adoption of security orchestrations. Cyber-enabled attacks in European provinces have become more frequent and sophisticated over the years. As a result, the EU (European Union) is aiming to develop its resilience and capabilities in cyber security as well as cyber defense segments. Owing to this the cyber-security spending in Europe, particularly in Western Europe has increased exponentially. In the year 2016, the region was estimated to spend more than US$ 20 Bn and is forecasted to increase further in the coming years.
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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 report segments the global security orchestration market as follows:
1.1.1 Global Security Orchestration Market – By Component
Software
Services
o Professional Service
o Managed Service
1.1.2 Global Security orchestration Market – By Deployment Type
On-Premise
Cloud
1.1.2.1 Global Security Orchestration Market – By Function
Network Security
Threat Intelligence
Compliance Management
Ticketing Solution
End-point Security
Others
1.1.2.2 Global Security Orchestration Market – By Enterprise Type
Small & Medium Scaled
Large Scaled
1.1.2.3 Global Security Orchestration Market – By End-user
BFSI
Government
IT & Telecom
Manufacturing
Healthcare & Pharmaceuticals
Others
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