Security Orchestration Market Growing At Rate Of 28.8% To Reach US$ 7.7 Billion By 2027

Microsoft Corporation, Fireeye, Df Labs, And Splunk – Notable Market Participants In Security Orchestration Market

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 security orchestration 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 security orchestration market players in the coming years.

Currently, the companies offer a good mix of set of software and services to their clients such as consulting, training & education, professional services, managed services, and software tools among other services or products for offering security orchestration solutions. Thus, based on component the security orchestration market is bifurcated into software and services. Further, based on deployment type the market is broadly segmented into on-premise and cloud.  Also, based on function, the market is divided into network security, threat intelligence, compliance management, ticketing solutions, end-point security and others.  Moreover, by type of enterprise the market is broken-down by small & medium scaled and large scaled enterprise. Finally, based on end-user the market is classified into BFSI, government, IT & telecom, manufacturing, healthcare & pharmaceuticals, and others.

Many well-known as well as small local players are present in the security orchestration market to provide diversified product to its customers. The larger firms are adopting the strategy of acquisition and enhancement of their product portfolio and expand its footprint in different geographies. Few on the important Merger and acquisitions from the industry are mentioned below:

Year News Country
2018 Microsoft Corp. Signed an agreement to acquire Hexadite, the acquisition is anticipated to include endpoint security endpoint security automated remediation in the existing WDATP solution. North America
2018 Splunk, Inc.  announced acquisition of acquisition of Phantom Cyber Corporation, a prominent provider of SOAR solutions. This acquisition was priced approximately US$350 Mn excluding working capital and other adjustments. Europe

 

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