Security Automation Market worth $16.7 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 1, 2023 /PRNewswire/ -- IoT, cloud, and regulatory compliance will receive more attention in the Security Automation Market in the future along with sophisticated orchestration (SOAR) and AI integration. Threat hunting will become more effective thanks to automation, which will also support human-machine interaction and easily integrate with modern security practises like DevSecOps to promote proactive defence and effective incident response.

The Security Automation Market is projected to grow from USD 8.9 billion in 2023 to USD 16.7 billion by 2028, at a compound annual growth rate (CAGR) of 13.4% during the forecast period, according to a new report by MarketsandMarkets™. The Security Automation Market is expected to grow significantly during the forecast period, owing to various business drivers like the rising cybersecurity threats and complexity, and the growing ability to detect and respond to security incidents in real-time.

Browse in-depth TOC on "Security Automation Market"

359 - Tables
83 - Figures
363 - Pages

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Scope of the Report

By services, managed services to register for the highest CAGR during the forecast period

The services segment of the Security Automation Market is growing rapidly. The managed services are vital in properly functioning security automation solutions. Security automation vendors require technical support and consulting services to deploy their solutions quickly and smoothly in the market. Managed services are crucial in the Security Automation Market as they offer specialized services and support to organizations requiring security automation solutions. Their role encompasses various aspects that help businesses leverage the full potential of these technologies effectively.

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By technology, AI & ML to register for the highest market size during the forecast period

AI and ML technologies are playing a pivotal role in shaping the landscape of the Security Automation Market. These advanced technologies are revolutionizing the way organizations detect, respond to, and mitigate cybersecurity threats. AI and ML have become integral components of security automation, driving the growth and evolution of this market.

By region, Asia Pacific accounted for highest growth rate during forecast period

Asia Pacific is witnessing significant technological innovation in security automation. Several Asian countries, such as Japan, China, and India, are leveraging information-intensive technologies, and security automation is one of the leading technology trends. With new growth opportunities declining in conventional, strong markets such as North America and Europe, several vendors are interested in Asia Pacific. China, Japan, and India are technology-driven countries and present major opportunities in terms of investments and revenues.

Top Key Companies in Security Automation Market:

Some major players in the Security Automation Market include Palo Alto Networks (US), Splunk (US), CyberArk (US), Check Point (Israel), CrowdStrike (US), Red Hat (US), Cisco (US), Carbon Black (US), Trellix (US), IBM (US), Secureworks (US), Tenable (US), Microsoft (US), Swimlane (US), Tufin (US), Sumo Logic (US), Google (US), LogRhythm (US), Exabeam (US), ManageEngine (India), Fortinet (US), Devo Technology (US), D3 Security (Canada), Logsign (Netherlands), Vulcan Cyber (Israel), Cyware (US), Cyberbit (US), SIRP (US), Tines (Ireland), Veriti (Israel), Vanta (US), Drata (US), Anvilogic (US), and Torq (US).

Recent Developments:

• In July 2023, Splunk and Microsoft partnered to build Splunk's enterprise security and observability offerings on Microsoft Azure. Additionally, for the first time, Splunk solutions will be available for purchase on the Microsoft Azure Marketplace.
• In June 2023, Check Point and Everphone have announced a collaboration in advanced threat prevention for corporate smartphones. The collaboration will see Everphone enhance its DaaS solution by integrating Check Point Harmony Mobile, an industry-leading Mobile Threat Defense (MTD) solution that offers comprehensive protection against a wide range of cyber threats.
• In June 2023, Palo Alto Networks launched Cortex Xpanse Expander as a cloud-based attack surface management solution that helped organizations find and fix their known and unknown internet-connected risks. Expander performed automated, continuous scans to index the entire internet and discover all connected assets, misconfigurations, and exposed services.
• In May 2023, Vanta, a trust management platform provider, and CrowdStrike have developed an integration designed to help organizations improve their compliance and security operations. The integration builds on CrowdStrike's investment in Vanta through the CrowdStrike Falcon Fund in September 2022.
• In April 2023, Cybersecurity company CrowdStrike announced the first visibility and threat detection solution for ChromeOS devices that does not require a mobile device management solution. CrowdStrike Falcon Insight XDR for ChromeOS delivers endpoint detection and response and extended detection and response capabilities designed to stop adversaries.
• In February 2023, Check Point has introduced Check Point Infinity Spark, a threat prevention solution that delivers industry leading AI security and integrated connectivity to small and medium-sized businesses (SMBs).
• In March 2022, CyberArk acquired Aapi.io, a provider of identity automation and orchestration solutions. This acquisition expanded CyberArk's Identity Security Platform with new capabilities for automating identity lifecycle management and privileged access management.

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Security Automation Market Advantages:

• Security automation reduces the time between discovery and action by quickly analysing massive amounts of data, spotting anomalies, and launching responses, which speeds up threat detection.
• Automation lowers the possibility of human error in security operations, ensuring reliable and precise performance of security activities, which is essential in preventing security breaches.
• Automated security technologies can work continuously, even beyond business hours, to provide continuous monitoring and protection against cyberthreats.
• Automation improves the efficiency of incident response processes, allowing for quicker analysis, containment, and recovery from security incidents, which minimises impacts and downtimes.
• Security automation scales easily to meet the rising complexity and requirements of contemporary cybersecurity environments as threats change and data quantities increase.
• Organisations can quickly respond to new threats and vulnerabilities thanks to automation systems that process data in real time.
• Automation ensures that security policies are consistently applied across the network and endpoints, reducing the risks brought on by policy deviations.
• Organisations can devote their human resources to more complicated and strategic security concerns by automating routine security duties.
• Threat intelligence feeds can be included into security automation solutions to improve their capacity to recognise and efficiently address emerging risks.

Report Objectives

• To define, describe, and predict the Security Automation Market by offering (solutions and services), code type, technology, application, verticals, and region
• To provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
• To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Security Automation Market
• To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
• To forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
• To profile key players and comprehensively analyze their market rankings and core competencies
• To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Security Automation Market
• To analyze the impact of recession across all the regions across the Security Automation Market

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