According
to a new analysis by MarketsandMarketsTM, the size of the global Security
Automation Market is expected to increase at a CAGR of
13.4% over the forecast period, from USD 8.9 billion in 2023 to USD 16.7
billion by 2028. Over the course of the forecast period, the security
automation market is anticipated to rise significantly due to a variety of
business drivers. The market is expanding significantly due to growing
complexity and risks to cybersecurity as well as improved real-time detection
and response capabilities. The rise in the market is also being driven by an
increase in ransomware and phishing email events, as well as the requirement to
guarantee regular compliance with security guidelines and enable audit trails.
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Security Automation Market Dynamics:
Drivers:
- Rise in cybersecurity threats and complexity.
- Increase in ability to detect and respond to security incidents in
real time.
- Growth in incidents of phishing emails and ransomware.
- Need to ensure consistent adherence to security policies and
facilitate audit trails.
Restraints:
- Concerns related to data privacy.
- Uncertainty in third-party applications.
Opportunities:
- Rise in advent of predictive analytics to anticipate potential
threats.
- Advancements in quantum computing to mitigate quantum-based
attacks.
List of Key Players in Security
Automation Market:
·
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)
Security
automation is the automation of security tasks, including both administrative
duties and incident detection and response. Security automation provides
numerous benefits to the organization by enabling security teams to scale to
handle growing workloads. The primary goals of security automation are to
enable faster incident response and to increase security agility.
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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.
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.
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).
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