Security Orchestration Market Projected to Reach 1682.4 Million USD by 2021
Security orchestration market categorizes the global market by component as solution and service, by application as threat intelligence, network forensics, ticketing solutions, and compliance management, by deployment mode, by end user, by vertical, and by region.
November 16, 2016 /MarketersMedia/ —
According to report “Security Orchestration Market by Component (Solution and Service), Application (Threat Intelligence, Network Forensics, Ticketing Solutions, and Compliance Management), Deployment Mode, End User, and Vertical, Region – Global Forecast to 2021”, The security orchestration market size is estimated to grow from USD 826.1 Million in 2016 to USD 1682.4 Million by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 15.3%.
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Security orchestration is an approach to automatically respond to security incidents and protect IT systems in organizations from advanced cyber-attacks and vulnerabilities. As the sophistication level in cyber-attack is increasing, security vendors are trying to develop better orchestration platforms to provide a proactive and holistic security to critical business applications.
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Rise in security breaches and incidents is driving the security orchestration market
The major forces driving the security orchestration market are the rise in security breaches & incidents, rapid deployment & development of cloud based solutions, and growth in the BYOD trend, affecting Small and Medium Enterprises (SMEs). As the businesses are growing, new and sophisticated threats are created everyday which puts the company’s and individual’s critical data at risk. Therefore, enterprises are deploying security orchestration solutions to detect and respond to threats and data breaches within their networks, and endpoints.
Threat intelligence segment to play a key role in the security orchestration market
Network forensics is expected to have the largest market share and dominate the security orchestration market from 2016 to 2021, as more and more companies are adopting network forensics solutions to manage and monitor computer network traffic. Threat intelligence is expected to play a key role in changing the security orchestration landscape and is projected to grow at the highest growth rate during the forecast period. The reason being, the demand for security orchestration solutions with threat intelligence capabilities have increased.
Government vertical is expected to grow the fastest in the security orchestration market
BFSI vertical is expected to contribute the largest market share in the security orchestration market, due to the increase in online banking transactions for businesses via web and mobile devices. Government sector is expected to grow at the highest CAGR from 2016 to 2021 in the security orchestration market, as government agencies hold critical and sensitive information of citizens, which are considered as the prime target for cyber criminals.
North America is expected to contribute the largest market share, whereas APAC is expected to grow the fastest
North America is expected to have the largest market share and dominate the security orchestration market from 2016to 2021, due to the presence of large number of security orchestration vendors across this region. On the other hand, APAC offers potential growth opportunities in the security orchestration market, as there is a wide presence of SMEs that are turning towards security orchestration solutions to defend against advanced cyber threats.
The major vendors in the security orchestration market include 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.). Other noticeable vendors include Ayehu Software Technologies, Ltd (Israel), and Optiv Security Inc. (U.S.).
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