Security Orchestration Automation and Response Market (By Component: Solution, Services; By Deployment; By Enterprise Size; By Application; By Vertical) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global security orchestration automation and response market size was surpassed at USD 1.52 billion in 2023 and is expected to hit around USD 6.49 billion by 2033, growing at a CAGR of 15.63% from 2024 to 2033

Key Pointers

• North America held the major share of 36% of the target market in 2023. 
• Asia Pacific is anticipated to grow at the fastest CAGR of 18.28% from 2024 to 2033. 
• The solution segment accounted for the largest share of 77% in 2023. 
• The services segment is anticipated to grow at a CAGR of 19.45% during the forecast period. 
• The cloud-based segment accounted for a market share of 63% in 2023. 
• The on-premise segment is expected to grow at a CAGR of 13.24% during the forecast period. 
• The large enterprise segment accounted for the largest share of 54% in 2023. 
• The SMEs segment is expected to grow at the fastest CAGR of 16.25% during the forecast period. 
• The incident response segment accounted for the largest market share of 39% in 2023. 
• The threat intelligence segment is expected to grow at the highest CAGR of 17.37% during the forecast period. 
• The IT and telecommunication segment accounted for the largest share of 19% in 2023. 
• The BFSI segment is expected to grow at a CAGR of 19.17% during the forecast period.

Security Orchestration Automation And Response Market Overview

The Security Orchestration, Automation, and Response (SOAR) market is witnessing significant growth driven by the increasing complexity and volume of cyber threats faced by organizations worldwide. SOAR platforms have emerged as essential tools for enhancing cybersecurity posture by streamlining incident response processes, automating repetitive tasks, and orchestrating workflows across security tools and systems.

Security Orchestration Automation And Response Market Growth Factors

The growth of the Security Orchestration, Automation, and Response (SOAR) market is propelled by an increasing sophistication and frequency of cyber threats worldwide are driving organizations to invest in robust cybersecurity solutions such as SOAR platforms to enhance their defense capabilities. Secondly, the need for efficient incident response is paramount, with organizations seeking to minimize the impact of security incidents through streamlined processes and automated workflows provided by SOAR solutions. Additionally, the integration of SOAR platforms with existing security technologies like SIEM and EDR enhances operational efficiency and effectiveness. Moreover, regulatory mandates and compliance requirements compel organizations to adopt SOAR solutions to ensure adherence to security standards and demonstrate effective incident management practices.

Report Scope of the Security Orchestration Automation And Response Market

Security Orchestration Automation And Response Market Trends:

• Rapid Adoption of Cloud-based SOAR Solutions: Organizations are increasingly migrating towards cloud-based SOAR solutions due to their scalability, flexibility, and cost-effectiveness. Cloud-based offerings allow for seamless integration with existing cloud infrastructure and provide greater accessibility for remote teams.
• Focus on Threat Intelligence Integration: SOAR platforms are integrating advanced threat intelligence capabilities to enhance their ability to detect and respond to evolving cyber threats. Integration with threat intelligence feeds enables real-time threat analysis and proactive incident response.
• Expansion of Use Cases Beyond Security Operations: SOAR platforms are being leveraged for a broader range of use cases beyond traditional security operations. These include IT service management (ITSM), compliance management, and business process automation, driving increased adoption across various organizational functions.
• Shift Towards Open-Source SOAR Solutions: There is a growing interest in open-source SOAR solutions, driven by the desire for customization, flexibility, and community-driven development. Open-source platforms offer organizations the opportunity to tailor SOAR capabilities to their specific needs and budgets.
• Emphasis on User Experience and Interface Design: Vendors are focusing on improving the user experience and interface design of SOAR platforms to enhance usability and accessibility for security analysts and other stakeholders. Intuitive interfaces, customizable dashboards, and simplified workflows contribute to improved efficiency and productivity.
• Integration with DevSecOps Practices: SOAR platforms are increasingly integrated into DevSecOps pipelines to automate security processes throughout the software development lifecycle. This integration enables organizations to embed security controls and incident response mechanisms directly into their development workflows, improving overall security posture.
• Enhanced Automation Through AI and Machine Learning: Advancements in artificial intelligence (AI) and machine learning (ML) are driving the development of SOAR platforms with enhanced automation capabilities. AI and ML algorithms enable predictive analytics, anomaly detection, and autonomous response actions, enabling organizations to respond to threats more effectively.

Component Insights

The solution segment accounted for the largest share of 77% in 2023. The solution segment consists of the SOAR platform as a service and software solutions offered by key players operating in the market to assist customers in threat detection, workflow management, responding, and documenting this critical information on a single platform. The SOAR solutions help reduce the dependency on IT analysts with their inbuilt capabilities of orchestration, automation, and response to common threats and everyday cyber incidents. These are the key factors expected to drive the segment's growth.

The services segment is anticipated to grow at a CAGR of 19.45% during the forecast period. The SOAR services segment includes maintenance, deployment, consultation, customer support, and training services. The growing demand for SOAR solutions and software in various end-use industries, such as BFSI, IT & telecommunications, retail, and healthcare, to strengthen their security capabilities are the primary factors expected to support the segment growth over the forecast period.

Deployment Insights

The cloud-based segment accounted for a market share of 63% in 2023. Cloud-based SOAR can be termed a platform as a service solution. It offers organizations a flexible product offering allowing them to choose offerings based on their usage demand, budget, time, and business objectives. It is a cost-effective, flexible way of threat-identifying, unmasking vulnerabilities, alert sharing, and handling routine security tasks across servers, endpoint devices, and networks. These are the primary factors expected to drive the growth of this segment.

The on-premise segment is expected to grow at a CAGR of 13.24% during the forecast period. On-premise security orchestration, automation, & response provide in-house SOAR software and solution offerings that ensure better control and security assurance across their networks, applications, and devices. Furthermore, it offers organizations the utmost flexibility in adopting workflows, forming & managing integrations, or building processes from scratch, based on their focus areas and dynamic security environment. Thus, the defined factors are expected to strengthen the growth of the on-premise segment.

Enterprise Size Insights

The large enterprise segment accounted for the largest share of 54% in 2023. The demand for SOAR is constantly rising among large organizations owing to the increasing cybersecurity threats, privacy breaches, and hacking incidences. The primary factor responsible for growing cyber threats is the increased use of connected devices, unsecured networks, and lack of security solutions among traditional organizations. Furthermore, the lack of skilled workforce is encouraging largeorganizations to automate and standardize routine security operations, which is the demand for SOAR solutions.

The SMEs segment is expected to grow at the fastest CAGR of 16.25% during the forecast period. The demand for SOAR is growing among SMEs as it helps organizations with limited budgets and resources effectively handle their security postures. SOAR offers a sophisticated approach and automated processes requiring limited human interventions, effectively conserving time and money. These capabilities assist SMEs in saving costs and resources along with enhancing security awareness, thereby driving segment growth.

Application Insights

The incident response segment accounted for the largest market share of 39% in 2023. SOAR helps security teams, and analysts respond to critical security threats and remediate incidents faster by gathering alerts from various sources, automating case prioritizations, and efficiently responding to privacy breaches. It offers a single dashboard representing the ongoing security posture of devices and applications, the planning and designing security tasks, monitoring real-time status, and reporting information related to specific security tasks for future reference. This platform enables smooth collaboration and threat intelligence sharing across the organizational network and teams. Thus, the abovementioned factors are expected to drive the market demand over the forecast period.

The threat intelligence segment is expected to grow at the highest CAGR of 17.37% during the forecast period. SOAR helps organizations in bridging the gap between threat intelligence and response-sharing processes. It collects security alert information and metrics from integrated security tools and external feeds, allowing a centralized representation in the SOAR platform. The SOAR security solution allows analysts to correlate information from different sources, prioritize alerts, filter out false positives, and help identify the critical security tasks that require more effort and time. Thus, the application of SOAR in areas of threat intelligence is expected to drive segment growth.

Vertical Insights

The IT and telecommunication segment accounted for the largest share of 19% in 2023. The IT and telecommunication sector experiences higher amounts of data loss, security breaches, and hacking due to highly confidential customer and organizational data, widely spread servers, complex networks, and connected devices. These industries face and tackle various cyberattacks ranging from common threats to undiscovered ones. SOAR helps security analysts automatically identify and handle common vulnerabilities by performing actions, such as threat detection, enrichment, investigation, response, and dissemination to security tools, such as threat intelligence platforms, SIEMs, firewalls, and incident response platforms.

The BFSI segment is expected to grow at a CAGR of 19.17% during the forecast period. The BFSI industries are investing large capital to build connected technology infrastructure to keep up with the growing trends and market demand. On the other hand, these technologies also make them highly vulnerable and prone to security breaches, data theft, and vulnerabilities. The application of SOAR assists these industries in identifying, handling, documenting, and responding to cyber threats more effectively.

Regional Insights

North America held the major share of 36% of the target market in 2023. The market is expected to witness lucrative growth opportunities in the region owing to the fast-paced adoption of cybersecurity solutions by key industrial sectors, such as healthcare, BFSI, and IT &telecommunications. Furthermore, according to IBM Data Breach Report 2023, the average cost of data breaches in the U.S. is USD 9.44 million, the highest compared to other countries globally. SOAR solution helps organizations reduce the average time required to identify and respond to vulnerabilities, which helps in saving cost, effort, and time are the key factors expected to drive the demand for SOAR in the North America region.

Asia Pacific is anticipated to grow at the fastest CAGR of 18.28% from 2024 to 2033. The rising technology adoption, including connected web applications, IoT devices, and interface technologies across industries, such as BFSI, IT &telecom, and retail, is increasing the demand for robust security solutions in the region. SOAR ensures cost-effectiveness by reducing dependency on security analysts and helping emerging & small players in the region handle security challenges more effectively.

Security Orchestration Automation And Response Market Key Companies

• IBM Corporation
• Splunk Inc.
• Palo Alto Networks
• Microsoft Corporation
• Logpoint
• Rapid7
• ServiceNow
• Google - Siemplify
• Fortinet, Inc.
• Swimlane SOAR
• SentinelOn
• BlackBerry Ltd.
• AT&T
• KnowBe4, Inc.

Security Orchestration Automation And Response Market Segmentations:

By Component 

• Solution
• Services

By Deployment 

• On-premise
• Cloud

By Enterprise Size 

• Large Enterprise
• Small & Medium Enterprises

By Application 

• Threat Intelligence
• Network Forensics
• Incident Response
• Compliance
• Others

By Vertical 

• BFSI
• IT & Telecom
• Retail & E-commerce
• Healthcare
• Manufacturing
• Government
• Education
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa