Security Orchestration Automation and Response (SOAR) Market Size - By Application (Threat Intelligence, Incident Response, Compliance), By Industry Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Education), Deployment, Component, Enterprise Size & Forecast 2024 - 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSecurity Orchestration Automation and Response (SOAR) Market Size - By Application (Threat Intelligence, Incident Response, Compliance), By Industry Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Education), Deployment, Component, Enterprise Size & Forecast 2024 - 2032
Security Orchestration Automation and Response Market Size
Security Orchestration Automation and Response Market was worth USD 1.6 billion in 2023 and is expected to show 15% CAGR during the forecast period of 2024-2032, driven by the growing cases of cybersecurity attacks globally. In the latest CERT-In report, during 2022, the frequency of ransomware threats continued to be on the rise, with a significant 53% increase in ransomware attacks reported year on year. The Information Technology and IT-enabled Services (IT & ITeS) industry was hit the hardest, followed very closely by the Finance and Manufacturing industries. Ransomware actors specifically targeted critical infrastructure organizations, deliberately impacting key services to force them into paying ransom.
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The constantly increasing and changing environment of cybersecurity threats such as malware, ransomware, phishing, and data breaches has driven the need for more effective and efficient security solutions. SOAR platforms are viewed to assist organizations in addressing these threats quicker and better by automating and orchestrating security operations, tipping their adoption in the long term.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Security Orchestration Automation and Response Market Size in 2023 | USD 1.6 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 15.4% |
| 2032 Value Projection | USD 5.7 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 240 |
| Tables, Charts & Figures | 401 |
| Segments covered | Component, Deployment, Enterprise Size, Industry Vertical, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Adherence to these regulations means that organizations must possess solid incident response and reporting capabilities. SOAR platforms provided the automation and orchestration features required to simplify compliance processes and minimize the risk of non-compliance fines. Conversely, adopting a SOAR solution can be a resource-consuming and complicated process. It typically comprises integrating with multiple existing security tools, tailoring workflows, and educating security teams. Deployment and integration complexity can be a considerable hindrance to smaller organizations that have less capability or capacity, which may curtail SOAR industry expansion.
COVID-19 Impact
The COVID-19 pandemic had a profound effect on the security orchestration automation and response market. With the quick transition to work-from-home policies, the requirement for cybersecurity technology skyrocketed, leading organizations to invest in SOAR to reinforce their cyber defense. Cases of COVID-19-related phishing scams and ransomware attacks increased astronomically, further highlighting the demand for strong incident response capabilities. In addition, remote work underscored the value of cloud-native SOAR platforms because organizations were in search of versatile, scalable, and remotely accessible tools to streamline and automate their cybersecurity incident response workflow.
Security Orchestration Automation and Response Market Trends
Cloud-native SOAR Solutions may be a new trend in the SOAR space. With increasing use of cloud technologies and the remote work phenomenon, there may be a transition towards cloud-native SOAR solutions. These solutions are native to the cloud and can run in cloud environments, providing more scalability and flexibility. Cloud-native SOAR can make it possible for organizations to control and coordinate security incidents anywhere, which is so important in today's distributed and digital-first business environment. It is this benefit that has pushed companies dealing in this line of business to invest in advancing their technological abilities and developing new products to adapt to the increased market demand.
In September 2023, Google Cloud announced its latest development in Chronicle Security Operations, which intends to streamline and automate threat detection, investigation, and response (TDIR) through the integration of its different elements into a single console. The integration includes its security information and event management (SIEM), security orchestration, automation, and response (SOAR), and attack surface management technology it acquired from Mandiant. Significantly, Google launched Chronicle Security Operations a year ago, which introduced a cloud software bundle combining Chronicle's SIEM, Google's SOAR acquired from Siemplify, and Google Cloud's threat intelligence.
Security Orchestration Automation and Response Market Analysis
Learn more about the key segments shaping this market
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The software segment was worth USD 1.1 billion in 2023. Security Orchestration, Automation, and Response (SOAR) software are gaining widespread popularity in the cybersecurity landscape. With an ever-increasing volume of cyber threats and a shortage of skilled security professionals, organizations are turning to SOAR to streamline incident response. These platforms enable automation of routine tasks, orchestration of complex workflows and offer real-time threat intelligence, resulting in faster and more efficient security incident management. As cyber threats continue to evolve, SOAR's adaptability and efficiency make it an essential tool for organizations seeking to protect their digital assets.
Learn more about the key segments shaping this market
The IT & telecom segment held approximately 17% market share in 2023. SOAR software and services are witnessing high demand within the IT and Telecom sector due to several compelling reasons. These industries are increasingly targeted by sophisticated cyber threats, making efficient incident response crucial. SOAR streamlines security operations, automates repetitive tasks, and orchestrates complex processes, enabling IT and telecom companies to rapidly detect and mitigate threats. The need for compliance with stringent data protection regulations further drives this demand, as SOAR solutions offer improved data security and regulatory compliance management capabilities, which are paramount in these sectors.
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North America dominated around 35% share of the global security orchestration automation and response market in 2023. The region faces a continuous and evolving threat landscape, with cyberattacks increasing in complexity. SOAR solutions are being adopted to enhance incident response, streamline workflows, and optimize security operations. Furthermore, the presence of numerous large enterprises, financial institutions, and critical infrastructure in North America places a premium on cybersecurity solutions, further fueling the demand for SOAR platforms and services to fortify defenses against cyber threats.
Security Orchestration Automation and Response Market Share
Companies such as Tines and IBM Corporation are employing growth strategies such as expanding their product offerings, forming strategic partnerships, targeting new industries, and enhancing their global presence to seize market opportunities and maintain competitive advantage.
Security Orchestration Automation and Response Market Companies
Major players operating in the security orchestration automation and response industry are
- Fortinet, Inc.
- IBM Corporation
- Logpoint
- Palo Alto Networks
- Rapid7
- ServiceNow
- Siemplify
- Splunk Inc.
- Swimlane
- Tines
Security Orchestration Automation and Response Industry News
- In April 2023, D3 Security unveiled Smart SOAR, an upgraded edition of its security orchestration, automation, and response (SOAR) solution. Smart SOAR is tailored to assist Managed Security Service Providers (MSSPs) and Managed Detection and Response (MDR) providers in the automated evaluation of threats and the resolution of security incidents.
This security orchestration automation and response market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032, for the following segments
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Market, By Component
- Software
- Services
Market, By Deployment
- Cloud
- On-premises
Market, By Enterprise Size
- Large Enterprises
- SMEs
Market, By Industry Vertical
- BFSI
- IT & Telecom
- Manufacturing
- Healthcare
- Retail & E-Commerce
- Government
- Education
- Others
Market, By Application
- Threat Intelligence
- Network Forensics
- Incident Response
- Compliance
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Arabia
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