Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Global Security Automation Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global security automation market is poised for substantial growth, with a projected expansion from USD 8.9 billion in 2023 to USD 16.7 billion by 2028, representing a robust compound annual growth rate (CAGR) of 13.4%. This growth is fueled by the increasing complexity of cybersecurity threats and the growing demand for real-time detection and response to security incidents.
Key Highlights
Solution Segment Dominance: The solution segment, encompassing SOAR, SIEM, and XDR, is set to lead the market during the forecast period. This prominence is driven by the proliferation of connected devices and digital services, expanding the attack surface for cybercriminals and necessitating a proactive and automated approach to threat detection and mitigation.
Healthcare & Life Sciences Growth: The healthcare and life sciences vertical is projected to witness the fastest-growing CAGR during the forecast period. Security automation technology has played a pivotal role in streamlining compliance with regulations like HIPAA, ensuring the continuity of critical research activities, and automating security processes to maintain high-quality patient care and scientific advancements.
North America's Market Leadership: North America is expected to witness the largest market size during the forecast period. The region's growth is driven by significant technological advancements in the security automation market, spurred by the proliferation of intelligent and connected devices. Increased investment in cybersecurity and the presence of key market players contribute to the region's leadership.
Premium Insights
- Increase in Phishing Emails and Ransomware Incidents to Facilitate Audit Trails to Drive Market Growth
- Market to Witness Minor Decline in Y-O-Y Growth in 2023
- Identity & Access Management Segment to Grow at Highest CAGR During Forecast Period
- Solution Offerings and BFSI Vertical to Account for Largest Respective Market Shares in North America in 2023
- North America to Account for Largest Market Share in 2023
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
- Challenges
- Shortage of Modern IT Infrastructure
Case Study Analysis
- BFSI
- Superior Credit Union Relied on Taegis ManagedXDR for Proactive Security
- R3'S Security Team Saved More Than 220 Hours/Month with Tines
- Tenable Unified Vulnerability Management Program of Global Payment AU NZ
- e-Finance Strengthened Digital Payment Security Ecosystem in Egypt with LogRhythm SIEM
- Healthcare
- Almac Group Stepped Up IoT Security
- McKesson Chose Tines for Its Refreshing Approach to Security Automation
- Geisinger Expanded Crowdstrike Usage to Protect AWS Cloud Workloads
- Energy & Utilities
- Baskentgaz Prevented Potential Dos and XSS Attacks by Using LogSign SIEM
- Botswana Power Corporation Secured Its Infrastructure, Its Business, and Its Management's Confidence with Check Point
- IT & ITeS
- Upwork Used Tines to Improve Its Security Posture and Help Its End-users Get Smarter
- Auth0 Used Tines to Deliver Faster and More Efficient Security Alert Response Service
- Media & Entertainment
- Tines Helped Canva to Improve Its Security Detection and Response
- The Kraft Group Adopted Taegis ManagedXDR to Transform Its IT Environment
- Retail & e-Commerce
- Busy Beaver Took Customer-First Approach to IT Security
- Global Retailer Reduced Risk with SecureWorks Threat Detection and Response
- Telecom
- Vodafone Idea Limited Automated to Improve IT Infrastructure
- Manufacturing
- SMS Group Maintained Highest Standards of Security with Trellix Solutions
- Government & Defense
- Turkish Red Crescent Used LogSign SIEM Against Possible Cyber Threats
- Education
- Istanbul Bilgi University Observed Network and System Activities of Users on All Campuses Using LogSign SIEM
- Automotive & Transportation
- Tines Enabled Turo's Lean Security Team to Do More with Less
Technology Analysis
- Key Technology
- Artificial Intelligence and Machine Learning (AI and ML)
- Biometric Authentication
- Containerization and Microservices
- Quantum Computing
- User and Entity Behavior Analytics (UEBA)
- Network Segmentation Technologies
- Blockchain
- Adjacent Technology
- IoT
- 5G
- Cloud Computing
- Edge Computing
- Remote Work Technologies
Business Model Analysis
- Subscription-based Services
- Freemium Models
- Managed Security Services
- Platform as a Service (PaaS)
- On-Premises Licensing
- Usage-based Models
- Hybrid Cloud Models
Key Attributes
| Report Attribute | Details |
| No. of Pages | 349 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $8.9 Billion |
| Forecasted Market Value (USD) by 2028 | $16.7 Billion |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Security Automation Market, by Offering
7 Security Automation Market, by Technology
8 Security Automation Market, by Application
9 Security Automation Software Market, by Code Type
10 Security Automation Market, by Vertical
11 Security Automation Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent and Related Markets
15 Appendix
Companies Profiled
- Anvilogic
- CyberArk
- Check Point
- CrowdStrike
- Cisco
- Carbon Black
- Cyware
- Cyberbit
- Devo Technology
- D3 Security
- Drata
- Exabeam
- Fortinet
- IBM
- LogRhythm
- LogSign
- Microsoft
- ManageEngine
- Palo Alto Networks
- Red Hat
- Splunk
- Secureworks
- Swimlane
- Sumo Logic
- Sirp
- Trellix
- Tenable
- Tufin
- Tines
- Torq
- Vulcan Cyber
- Veriti
- Vanta
For more information about this report visit https://www.researchandmarkets.com/r/f5v8zx
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