LONDON, Nov. 8, 2016 /PRNewswire/ -- "The rise in security breaches and incidents will drive the security orchestration market"
The security orchestration market size is estimated to grow from USD 826.1 million in 2016 to USD 1682.4 million by 2021, at Compound Annual Growth Rate (CAGR) of 15.3%. The security orchestration market is driven by factors such as rise in security breaches & incidents, dramatic growth in the BYOD trend affecting Small and Medium Enterprises (SMEs), and rapid deployment & development of cloud-based solutions. Whereas, high cost of fraud detection and prevention solutions may restrict market growth and lack of awareness of advanced cyber threats may limit the growth of the security orchestration market.
"Managed services segment is expected to grow at the highest CAGR during the forecast period"
The organizations are rapidly growing their partnership networks to deploy the security solutions across the globe. Thus, the managed services segment is expected to grow at the highest CAGR during the forecast period. However, professional services segment is expected to have the largest market size in 2016.
"Network forensics segment is expected to grow at the highest CAGR during forecast period"
Network forensics segment is estimated to grow at the highest CAGR during the forecast period, as the networks are primarily being targeted by cybercriminals using advanced attacking techniques. Moreover, organizations are adopting network forensics solutions to manage and monitor their computer network traffic.
Furthermore, threat intelligence will have the largest market size in 2016, as the demand for security orchestration solutions with threat intelligence capabilities have increased.
"Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period"
APAC includes emerging economies, such as China, Australia, Singapore, and India, which are rapidly deploying security orchestration solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the rise in cyber-attacks in verticals such as BFSI, government, IT telecom, energy & utilities, healthcare, and retail with the growing volume of sensitive data and transactions. Furthermore, North America is expected to have the largest market size in 2016.
In-depth interviews were conducted with CEOs, marketing directors, innovation & technology directors, and executives from various key organizations operating in the security orchestration market.
- By Company Type: Tier 1: 55%, Tier 2: 20%, Tier 3: 25%
- By Designation: C-Level: 60%, Director Level: 25%, Others: 15%
- By Region: North America: 10%, Europe: 20%, APAC: 40%, ROW: 30%
The report includes the study of key players offering security orchestration solutions such as FireEye, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Intel Security (U.S.), IBM Corporation (U.S.), Huawei Technologies (China), Hexadite (U.S.), Phantom Cyber Corporation (U.S.), Tufin (Israel), Swimlane LLC (U.S.), and CyberSponse Inc. (U.S.)
The report provides a picture on security orchestration solutions and associated services across different verticals and regions. It aims at estimating the market size and future growth potential of this market, across different segments such as components, applications, deployment modes, organization size, verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on closest approximations of the revenue numbers for the overall security orchestration market and the subsegments. This report will help stakeholders understand the competitor landscape and gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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