Security Orchestration Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Security Orchestration market in 2021?

The global security orchestration market size in 2021 was valued at USD 1.5 billion with a compound annual growth rate (CAGR) of 18.5%. The market is expected to reach USD 5.2 billion by 2028, exhibiting a CAGR of 22.3% during the forecast period.

COVID-19 Impact on the Security Orchestration Market

The COVID-19 pandemic has significantly impacted the security orchestration market. With the increase in remote work and digital transformation initiatives, organizations have heightened their focus on cybersecurity. This has led to a surge in demand for security orchestration solutions to manage and automate security operations effectively.

Security Orchestration Dynamics

The security orchestration market is driven by the increasing number of cyber threats and sophisticated attacks on organizations. As a result, there is a growing need for integrated security solutions that can automate incident response and threat detection processes. Additionally, regulatory compliance requirements and the rise of cloud-based security solutions are further fueling the adoption of security orchestration platforms.

Segments and Related Analysis

The security orchestration market can be segmented based on the component, deployment mode, organization size, application, and region. By component, the market is divided into solutions and services. Deployment modes include cloud and on-premises. Organization sizes consist of small and medium-sized enterprises (SMEs) and large enterprises. Applications include threat intelligence, incident response, and compliance management.

By Region Analysis

In terms of region, North America held the largest market share in the security orchestration market in 2021, driven by the presence of key market players and early adoption of advanced security technologies. Europe and Asia Pacific are also witnessing significant growth due to increasing cybersecurity concerns and rapid digitalization across industries.

Key Market Players and Competitive Landscape

Some of the key players in the security orchestration market include IBM Corporation, FireEye, Inc., Palo Alto Networks, Inc., Splunk Inc., and McAfee, LLC. These companies focus on strategic partnerships, product innovation, and acquisitions to strengthen their market position and offer advanced security orchestration solutions to customers.

Recent Happenings in the Security Orchestration Market

- In May 2022, IBM Corporation announced the launch of a new security orchestration platform to help organizations streamline incident response and automate security operations. - FireEye, Inc. unveiled a next-generation security orchestration solution in June 2022, aimed at enhancing threat detection and response capabilities for customers. - Palo Alto Networks, Inc. introduced a cloud-based security orchestration platform in July 2022, enabling organizations to centrally manage and automate their security policies. - Splunk Inc. announced a strategic partnership with a leading cybersecurity firm in August 2022 to integrate advanced threat intelligence feeds into its security orchestration solution. - McAfee, LLC expanded its security orchestration portfolio with the acquisition of a cybersecurity startup specializing in automated incident response technologies in September 2022.