NEW CASTLE, Delaware, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Security Automation Market by Component (Solution and Services), Deployment Mode (Cloud and On-Premise), Technology (AI & ML, Predictive Analytics, RPA, and Others), Application (Network Security, Endpoint Security, Incident Response Management, Vulnerability Management, and Others), and Industry Vertical (IT & Telecommunications, BFSI, Healthcare, Manufacturing, Government, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032”. The global security automation market was valued at $9.1 billion in 2023 and is estimated to reach $26.6 billion by 2032, exhibiting a CAGR of 12.2% from 2024 to 2032.
Prime determinants of growth
The cloud computing model is widely used due to its strong and adaptable architecture. Many firms are turning to cloud solutions to simplify data storage since they provide remote server access over the internet, as well as limitless computing capacity. Furthermore, having a cloud-based architecture enables businesses to monitor all of their apps by providing incredibly tough analytics that run in the background. However, the rise in adoption of cloud has increased the number of cyberattacks. This boosts the demand for real-time threat detection among enterprises, thereby propelling the growth of the security automation market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $9.1 Billion |
| Market Size in 2032 | $26.6 Billion |
| CAGR | 12.2% |
| No. of Pages in Report | 250 |
| Segments Covered | Component, Deployment Mode, Technology, Application, Industry Vertical, and Region. |
| Drivers |
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| Opportunity |
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| Restraint |
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Segment Highlights
Regulatory standards such as GDPR, CCPA, PCI DSS, and HIPAA compel enterprises to employ strong security measures to secure sensitive data and comply. Security automation streamlines compliance efforts by automating security controls, audits, and reporting procedures. In addition, the threat landscape is always changing, with attackers using increasingly complex methods to circumvent standard security protections. Security automation enables organizations to react fast to new threats by automating the detection, investigation, and reaction to security incidents in real time. These factors contribute to the constant growth of the global security automation market.
Similarly, the adoption of cloud computing, IoT devices, BYOD rules, and hybrid IT environments has increased the complexity of IT infrastructure management and security. Here, security automation gives enterprises the scalability and agility they need to efficiently secure complex and dynamic IT systems. Moreover, it helps organizations to reduce their operational cost by automating manual and repetitive tasks. This enables enterprises to increase their efficiency and reduce manual errors.
Regional Outlook
By region, the security automation market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share in 2023. North America has appropriate infrastructure due to the presence of prime vendors in nations such as the United States and Canada, leading to constant development of advanced security solutions integrating technologies such as AI, ML, and predictive analytics.
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Major Industry Players: -
- Palo Alto Networks
- Check Point
- Red Hat
- Cisco Systems Inc
- IBM Corporation
- Fortinet
- Microsoft Corporation
- Secureworks
- D3 Security
- Crowdstrike
The report provides a detailed analysis of these key vendors in the global security automation market. These players have adopted different strategies such as new development, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, portfolio, and strategic moves of market vendors to highlight the competitive scenario.
Recent Development:
- On May 6, 2024, Swimlane LLC announced a marketplace for security automation. The Swimlane marketplace is designed to enable organizations to automate security operations across business processes.
- On March 13, 2024, Stellar Cyber and Torq announced their partnership to develop automated security operations platform. The partnership is intended to offer security teams across organizations with turnkey integrated solutions for streamlining their security operations.
- On February 27, 2024, NTT Data Group Corporation announced its partnership with Swimlane LLC for its security automation. This partnership is intended to strengthen NTT’s capabilities of Security Operations Center (SOC) Solutions.
- On June 6, 2023, Palo Alto Networks in partnership with Cortex announced the launch of Expander 2.2 which integrates AI capabilities to improve modern SOC for changing the security operations across enterprises.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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