The Global Security Automation Market size is expected to reach $21.2 billion by 2030, rising at a market growth of 13.5% CAGR during the forecast period.
Information security & privacy have grown ever more crucial in the healthcare industry. Hospitals increasingly use electronic health records (EHR) to store private patient data. Therefore, the Healthcare & Lifesciences segment registered $842.5 million revenue in the market in 2022. Major companies invest in cutting-edge technologies like natural language processing, cloud computing, artificial intelligence, and the Internet of Things (IoT) to reduce operational costs and enhance healthcare services. As the healthcare industry adopts new technologies to improve process efficiency, like EHR, AI, and others, it confronts risks. With all this, the deployment of security automation will accelerate in the healthcare sector in the upcoming years.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, IBM Corporation took over Polar Security, to automate Cloud Data Protection. Additionally, In February, 2022, Check Point Software Technologies completed the acquisition of Spectral, to enable the cloud developer’s community and their mission of providing cloud security automation, usability, and trust across any cloud.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Mergers & Acquisition.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Palo Alto Networks, Inc., CyberArk Software Ltd., Check Point Software Technologies Ltd., Cisco Systems, Inc., IBM Corporation, Splunk, Inc., VMware, Inc., Crowdstrike Holdings, Inc., Fortinet, Inc. and Trellix (Symphony Technology Group)
Information security & privacy have grown ever more crucial in the healthcare industry. Hospitals increasingly use electronic health records (EHR) to store private patient data. Therefore, the Healthcare & Lifesciences segment registered $842.5 million revenue in the market in 2022. Major companies invest in cutting-edge technologies like natural language processing, cloud computing, artificial intelligence, and the Internet of Things (IoT) to reduce operational costs and enhance healthcare services. As the healthcare industry adopts new technologies to improve process efficiency, like EHR, AI, and others, it confronts risks. With all this, the deployment of security automation will accelerate in the healthcare sector in the upcoming years.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, IBM Corporation took over Polar Security, to automate Cloud Data Protection. Additionally, In February, 2022, Check Point Software Technologies completed the acquisition of Spectral, to enable the cloud developer’s community and their mission of providing cloud security automation, usability, and trust across any cloud.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal Matrix; Cisco Systems, Inc. is the major forerunner in the Market. In June, 2021, Cisco took over Kenna Security, to transform how security and IT teams work to minimize the attack surface and the time it takes to identify and respond. Companies such as IBM Corporation, VMware, Inc., and Check Point Software Technologies Ltd. are some of the key innovators in the Market.Market Growth Factors
Increasing adoption of predictive analytics for anticipating potential threats
Predictive analytics' increasing use is a crucial driver of the market's expansion for security automation solutions since it allows businesses to foresee and thwart cyber threats with previously unheard-of precision. Predictive analytics uses current as well as historical data to identify prospective vulnerabilities, security flaws, and attack patterns. When included in security automation solutions, these predictive insights enable proactive threat mitigation, anticipatory incident responses, and the optimization of security operations. Automated incident response is strengthened with timely accuracy by predictive analytics. It is projected that the market will expand due to the rise in the adoption of predictive analytics to foresee potential risks.Rising cybersecurity threats and complexity
Organizations increasingly need to strengthen their cybersecurity measures because of cyber threats' increasing commonness and complexity. There is a greater awareness of vulnerability due to the dynamic nature of contemporary cyberattacks, ranging from nation-state attacks and social engineering to ransomware and zero-day exploits. Traditional manual cybersecurity methods are frequently unable to manage the quickly expanding landscape as attacks become more complex, diversified, and targeted. Security automation is crucial in thwarting these threats by offering real-time detection, quick response, and proactive protection measures. Security automation is essential because of the rising complexity and variety of cybersecurity threats. Organizations can identify, respond to, and mitigate hazards with automation at a speed and scale that human intervention alone cannot match. As a result, the market is estimated to witness significant growth with the growing cybersecurity threats.Market Restraining Factors
Data privacy concerns associated with security automation tools
The widespread use of security automation solutions in the market may be hampered by data privacy and security concerns, which is a significant factor. Resolution of privacy issues relating to data processing, collection, and sharing may take longer if legal and ethical issues are carefully considered. Data gathering, handling, and exchanging data through automated security systems is the focus of data privacy concerns. Access to sensitive data is often necessary for security automation analysis and decision-making. A comprehensive strategy incorporating privacy-by-design principles into creating and implementing security automation systems is needed to address these challenges. Companies must conduct detailed privacy impact analyses, put data protection safeguards into place, ensure encryption and secure data handling, and keep up with current data protection laws.The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Mergers & Acquisition.
Offering Outlook
By offering, the market is segmented into solution and services. In 2022, the solution segment held the highest revenue share in the market. Security automation solutions offer many benefits for organizations looking to improve their cybersecurity posture and streamline their security operations. Some security automation solutions use machine learning and AI algorithms to adapt and enhance their threat detection capabilities over time, making them more effective at identifying new and evolving threats. Automation solutions can provide improved visibility into an organization's security posture by consolidating and correlating data from multiple sources.Code Type Outlook
Based on code type, the market is segmented into low code, no-code, and full code. The no-code segment acquired a remarkable growth rate in the market in 2022. No-code platforms are developed to be user-friendly so that users do not require programming or coding skills. This makes security automation accessible to a wider range of professionals, including security analysts and IT personnel who may not have coding expertise. No-code platforms ensure that security procedures and responses are standardized across the organization. This consistency is critical for maintaining security posture and compliance.Technology Outlook
By technology, the market is divided into AI & ML, predictive analytics, RPA, user entity & behavior analytics, and others. The AI and ML segment recorded the largest revenue share in the market in 2022. AI and ML algorithms can analyze vast amounts of data in real-time, enabling the detection of subtle and complex security threats that may go unnoticed by traditional methods. These technologies excel at identifying patterns and anomalies indicative of cyberattacks. AI and ML algorithms continuously adapt to evolving threats and attack techniques. They can update their models and response strategies based on new threat intelligence, ensuring that security measures remain effective.Application Outlook
On the basis of application, the market is classified into network security, endpoint security, incident response management, vulnerability management, identity & access management, compliance & policy management, and data protection & encryption. The endpoint security segment covered a considerable revenue share in the market in 2022. Security automation for endpoint security strengthens an organization's defense against cyber threats and reduces the burden on security teams by handling routine tasks and enabling faster responses to security incidents. Automated endpoint security solutions continuously monitor endpoint activities and network traffic to detect real-time suspicious behavior or known threats.Vertical Outlook
Based on vertical, the market is classified into BFSI, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, government & defense, retail & eCommerce, IT & ITES, and others. The IT & ITes segment recorded a remarkable revenue share in the market in 2022. IT and ITes companies handle vast amounts of sensitive data, including customer information, financial data, proprietary software, and the rising need for efficient security solutions. Phishing attacks, including spear-phishing and CEO fraud, are common in the IT and ITes sectors. Security automation can help detect and block phishing emails, protecting employees and sensitive data.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. North America is renowned for its cutting-edge technological infrastructure and forward-thinking businesses, making it a center for implementing security automation technologies. The rise in cyberattacks is a wake-up call for various enterprises, urged to protect their operations by implementing cutting-edge technologies like SOAR to thwart assaults and protect their organization's precious and crucial data. Due to its robust technological ecosystem and ongoing innovation, the region plays a significant role in promoting the creation and implementation of these solutions.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Palo Alto Networks, Inc., CyberArk Software Ltd., Check Point Software Technologies Ltd., Cisco Systems, Inc., IBM Corporation, Splunk, Inc., VMware, Inc., Crowdstrike Holdings, Inc., Fortinet, Inc. and Trellix (Symphony Technology Group)
Strategies deployed in the Market
» Partnerships, Collaborations & Agreements:
- Jul-2023: Splunk Inc., came into partnership with Microsoft Corporation, a leading developer of personal computer software systems and applications. This partnership aimed to offer both companies’ combined customer-advanced digital security which would help them remain secure and up and running at every step of their cloud journey.
- Jun-2022: Cisco came into a partnership with Kyndryl, an American multinational information technology infrastructure services. This partnership would help Cisco's consumers accelerate their transformation into data-driven businesses powered by Cisco solutions & Kyndryl managed services. Following this partnership both companies would develop private cloud services, software-defined networking solutions and network, edge computing solutions, and multi-network portfolios that would provide an environment with modern security capabilities.
- May-2022: Palo Alto Networks, Inc. extended its partnership with Deloitte, a leading global provider of audit, assurance, and consulting-related services. Through this partnership both the companies would deliver managed security services to their common U.S. clients.
» Product Launches and Product Expansions:
- Jul-2023: Palo Alto Networks, Inc. launched CI/CD Security Module. This launch aims to offer combined software delivery pipeline security as part of our code-to-cloud ability in Prisma Cloud's CNAPP platform.
- Jun-2023: Crowdstrike Holdings Inc. introduced 1-Click XDR, a new cloud security capability. The launched product would automatically identify and secure unprotected cloud workloads by instantly deploying the CrowdStrike Falcon agent.
- May-2023: CyberArk added new features to its CyberArk Identity Security Platform. The new features include enhanced unrevealed management capabilities, Bring Your Key facility, updated privileged access management, and self-controlled locating and consignment of endpoint accounts.
- May-2023: Crowdstrike Holdings, Inc. launched Charlotte AI, a new generative AI cybersecurity analyst that democratizes security. The launched product could be utilized by customers to address most critical challenges facing the security community, consisting of closing the cybersecurity skills gap and hastening the response time to stay ahead of adversaries.
- Apr-2023: IBM Corporation rolled out the QRadar Security portfolio, new security offerings designed to unify and accelerate the security analyst experience across the full incident lifecycle. The launched product would be constructed specifically for the demands of a hybrid cloud that features a single, advanced user interface across all products.
- Feb-2022: Palo Alto Networks, Inc. launched Cortex XSIAM, an AI-driven Platform that could revolutionize the way data, analytics, and automation are deployed by security organizations. The launched product would construct an intelligent data foundation while decreasing costs.
- Jun-2021: Splunk Inc. unveiled a Splunk Security cloud, the only data-centric modern security operations platform. The launched product would provide enterprise-grade latest security analytics, automated security operations, and integrated threat intelligence with an open, unparalleled ecosystem.
» Acquisitions and Mergers:
- May-2023: IBM Corporation took over Polar Security, an innovator in technology that helps companies discover, continuously monitor, and secure the cloud. This acquisition would support IBM Corporation to automate Cloud Data Protection.
- Dec-2022: Palo Alto Networks, Inc. took over Cider Security, a company engaged in software chain security and application security. This acquisition offers Cider's technology of deep visibility and analysis of the processes and tools that are used across the application development lifecycle, which results in the capability to recognize and remediate sensitive risks at every level.
- Aug-2022: CyberArk took over C3M, a cloud security posture management software company. This acquisition would enable MSSP & MSP partners to find &fix cloud security misconfigurations across Google Cloud, Microsoft Azure, and AWS.
- Feb-2022: Check Point Software Technologies completed the acquisition of Spectral, an information technology consulting company. Through this acquisition, both companies would help the cloud developer’s community and their mission of providing cloud security automation, usability, and trust across any cloud.
- Nov-2021: IBM Corporation acquired ReaQta, an innovative Endpoint Threat Response platform. This acquisition aims to widen IBM's capabilities in the extended detection and response market, aligning with IBM's strategy to provide security with an open approach that would extend across disparate tools, data, and hybrid cloud environments.
- Jun-2021: Cisco took over Kenna Security, a cybersecurity leader that offers a risk-based vulnerability management platform. This acquisition aimed to transform how security and IT teams work to minimize the attack surface and the time it takes to identify and respond.
Scope of the Study
Market Segments Covered in the Report:
By Offering- Solution
- Solution Deployment Type
- On-premise
- Cloud
- Solution Type
- Security Orchestration, Automation & Response
- Threat Intelligence Automation
- Incident Response Automation
- Case Management Automation
- Others
- Security Information & Event Management
- Real-time Alerting Automation
- Log Collection Automation
- Incident Prioritization Automation
- Automated Incident Escalation
- Extended Detection & Response
- Automated Threat Hunting
- Real-time Response Automation
- Automated Compliance Reporting & Others
- Services
- Low Code
- No-Code
- Full Code
- AI & ML
- Predictive Analytics
- RPA
- User Entity & Behavior Analytics
- Others
- Network Security
- Endpoint Security
- Incident Response Management
- Vulnerability Management
- Identity & Access Management
- Compliance & Policy Management
- Data Protection & Encryption
- BFSI
- Government & Defense
- Energy & Utilities
- Healthcare & Lifesciences
- Media & Entertainment
- Manufacturing
- Retail & eCommerce
- IT & ITeS
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Palo Alto Networks, Inc.
- CyberArk Software Ltd.
- Check Point Software Technologies Ltd.
- Cisco Systems, Inc.
- IBM Corporation
- Splunk, Inc.
- VMware, Inc.
- Crowdstrike Holdings, Inc.
- Fortinet, Inc.
- Trellix (Symphony Technology Group)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Security Automation Market by Offering
Chapter 6. Global Security Automation Market by Code Type
Chapter 7. Global Security Automation Market by Technology
Chapter 8. Global Security Automation Market by Application
Chapter 9. Global Security Automation Market by Vertical
Chapter 10. Global Security Automation Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- Palo Alto Networks, Inc.
- CyberArk Software Ltd.
- Check Point Software Technologies Ltd.
- Cisco Systems, Inc.
- IBM Corporation
- Splunk, Inc.
- VMware, Inc.
- Crowdstrike Holdings, Inc.
- Fortinet, Inc.
- Trellix (Symphony Technology Group)
Methodology
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