Global security orchestration market is estimated to witness high growth, owing to uptake of advanced technologies and growing cyber-security risks and threats
Global Security Orchestration Market is estimated to be valued at US$ 3.62 Bn in 2024, exhibiting a CAGR of 15.4% over the forecast period (2024-2031). Increasing adoption of security orchestration solutions across various industry verticals such as BFSI, healthcare, government and public sector can drive the market growth.
Market Dynamics:
Global security orchestration market growth is driven by growing adoption of advanced technologies such as IoT, cloud computing and big data analytics among enterprises. This has increased the attack surface for cybercriminals, thus, resulting into frequent cyber-security breaches and threats. Enterprises are increasingly implementing security orchestration solutions to gain holistic view of their IT infrastructure, ensure seamless information sharing between linked systems and facilitate automated threat mitigation.
Stringent data privacy regulations worldwide are compelling companies to strengthen their cyber security posture. For instance, General Data Protection Regulation (GDPR) in European Union (EU) mandates companies to report data breaches within 72 hours of discovery. Non-compliance can result in heavy penalties. Security orchestration plays a vital role in streamlining security processes, detecting anomalies at an early stage and ensuring
Increasing migration to cloud and hybrid infrastructure can drive the security orchestration market growth
As organizations increasingly adopt cloud and hybrid infrastructure, there is huge need for security orchestration solutions that can provide visibility and control across dispersed on-premise and cloud environments. Traditional perimeter-based security is no longer effective in environments where workloads and data reside in both private and public clouds. Security orchestration platforms help consolidate security information and responses to threats across multiple security tools and systems. This provides a single pane of glass view for security teams to detect, investigate and respond to incidents seamlessly. Growing complexity of IT environments due to cloud adoption can boost demand for security orchestration.
Rising cyber attacks and data breaches pushes organizations to improve security posture
High-profile cyber-attacks and data breaches have increased awareness about the need for stronger security defenses. Security teams are under pressure to protect the organization from growing sophisticated threats. Implementing security orchestration helps to gain better control over security tools and processes. It allows automated coordination between different security products like firewalls, IPS/IDS, sandboxing, and SIEM for faster detection and remediation of attacks. Orchestration improves overall security effectiveness and mean time to respond and recovery. Increasing risks of cybercrime have made improved security a top priority for boards, prompting greater investments in solutions like orchestration platforms.
Issues with integration and interoperability pose challenges
Security tools from different vendors often have difficulties integrating and interoperating with each other. This fragmentation makes it hard to gain unified visibility and control. Orchestration platforms need to seamlessly work with a variety of partner technologies, which can be challenging. Integration complexities and lack of standardized APIs slowdown the deployment of orchestration solutions. It also raises support and maintenance costs. These interoperability issues can hamper the security orchestration market growth.
Lack of skilled security staff hamper adoption
There has been severe shortage of cyber-security professionals globally to design, deploy and manage advanced security solutions like orchestration platforms. It requires experts with skills to configure multiple integrations and automate workflows. However, recruiting and retaining talent with the right mix of orchestration, security operations and programming experience can be difficult. The skills gap increases deployment timelines and costs. It also increases reliance on third-party consultants. The lack of skilled resources acts as a barrier for many organizations to leverage security orchestration tools to their full capabilities.
Growing focus on digital transformation can offer new opportunities
Rapid digital transformation initiatives involving large-scale adoption of cloud, IoT, mobile technologies and industry 4.0 expands the overall attack surface for organizations. This compels businesses to strengthen security across dispersed hybrid IT environments in real-time. Security orchestration platforms provide the ability to unify tools, processes and response playbooks required to protect modern distributed digital infrastructure. Their role in enabling improved security governance, compliance and operational efficiency for digital businesses can offer new growth opportunities.
Increasing demand for threat intelligence services
Advanced threat actors are constantly evolving their tactics to circumvent traditional security defenses. To stay ahead in this ongoing battle, security teams require access to the latest human and technical intelligence on emerging threats, adversary groups, and their infrastructure. Security orchestration platforms provide the ability to integrate third-party intelligence feeds to enrich internal threat data, enabling more effective detection and response. This trend is driving many security orchestration vendors to offer complementary intelligence subscription services. The growing demand for outside expertise to externalize threats represents a promising business opportunity for security intelligence providers.
Link - https://www.coherentmarketinsights.com/market-insight/security-orchestration-market-5128
Key Developments:
- In April 2023, Cycode introduced its new Application Security Orchestration and Correlation (ASOC) solution, designed to speed up software delivery by integrating consistent, automated, and non-intrusive security controls into development pipelines. This cutting-edge platform provides security and development teams with extensive visibility into their tools, consolidates alerts on a single interface, and streamlines threat management by aggregating all notifications.
- In April 2023, D3 Security, a company known for its security orchestration, automation, and response (SOAR) solutions, launched a new version of its Smart SOAR platform. This enhanced solution aims to help managed security service providers (MSSPs) and managed detection and response (MDR) providers by automating threat responses and addressing security incidents more efficiently.
- In March 2023, IBM, a leading player in cloud and AI technology, collaborated with Cohesity, a major player in data security and management, to bolster data security and reliability in hybrid cloud environments. Their collaboration focuses on creating IBM Storage Defender, a groundbreaking solution that leverages AI and event monitoring across multiple storage platforms. This tool is designed to safeguard data layers from threats like ransomware, human error, and cyberattacks, all through a single, unified interface.
- In February 2023, Morado Intelligence, a veteran-owned threat intelligence firm specializing in cyber threat intelligence and security operations optimization, partnered with Cyware, a leading provider of low-code SOAR and threat intelligence automation solutions for businesses, MSSPs/MDRs, ISACs, and ISAOs. This partnership aims to empower Morado's distinguished clients to fully utilize Cyware's advanced threat intelligence and SOAR modules, enabling them to efficiently ingest, enhance, analyze, and respond to threat data through Cyware's innovative technology platform.
Key Players:
Armis, Attivo Networks, Cisco Systems, Inc., CrowdStrike, D3 Security, Exabeam, FireEye, Inc., Fortinet, IBM Corporation, Microsoft Corporation, Palo Alto Networks, Rapid7, Splunk, Swimlane, and Tines
