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Market Synopsis
The global security orchestration automation and response (SOAR) market is expected to register a CAGR of 14.6% during the forecast period to reach USD 2,027.2 million by 2025.

SOAR is a set of distinct technologies which enables enterprises to gather data and security warnings from various sources. The enterprises perform threat analysis and remediation processes with the help of these software and services together for prioritizing incident response (IR) activities. Using SOAR tools, enterprises can define response procedures and perform threat analysis in a systematic digital workflow format, leading to automation of various machine-driven activities.

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SOAR combines three technology sectors which were previously categorized as security orchestration and automation, threat intelligence and incident response. Since the number of security professionals is scarce, in the years to come, the enterprises are expected to face an increasing shortage of security professionals. SOAR fills this gap and as a result, enterprises are likely to adopt these solutions in the coming years. The growing digitization leading to increasing vulnerabilities in data security is a major factor which is responsible to drive the market growth. The need for a complete view to manage cyber threats and the need for improving detection and response activities across verticals are other key factors which are driving the global SOAR market. Furthermore, the lack of awareness regarding SOAR is expected to be a restraint for the growth of this market.

Segmentation
The global SOAR market has been segmented based on component, application, organization size, vertical, and region/country.

By component, the global SOAR market has been divided into platform and services. The services segment has further been divided into professional services and managed services.

By application, the global SOAR market has been divided into security operations center (SOC) optimization, network forensics, threat intelligence, compliance management, and others.

Based on organization size, the global SOAR market has been divided into small- and medium-sized enterprise (SME) and large enterprise.

On the basis of vertical, the global SOAR market has been divided into banking, financial services and insurance, IT & telecom, government, energy and utilities, healthcare, retail and others.

The global SOAR market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Regional Analysis
The global SOAR market is estimated to register a CAGR of 14.6% over the forecast period. The geographic analysis of the global SOAR market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America has the largest market share as the companies in this region are investing significantly in R&D activities, which has led to the advancement of technologies in security orchestration and automation. The US leads the market in North America due to high adoption of digital transformation to support large volumes of critical data; as a result, the need for SOAR platform is the highest in the country.

Europe is expected to be the second-largest market during the review period due to the rising need among enterprises across verticals and managed security service providers to comply with the regulations imposed by governments. Asia-Pacific is anticipated to be the fastest-growing market in the global SOAR market during the forecast period. The rise in the adoption of SOAR for security incident and response, security orchestration and automation and threat intelligence are the key drivers for the growth of the market in Asia-Pacific.


Source: MRFR Analysis

Competitive Analysis
The global SOAR market is witnessing a high growth due to the rise in demand from various verticals such as BFSI and IT and telecommunications. Major players have opted for partnerships and new product development as their key organic growth strategies to enhance their positions in the market and cater to the demands of end users across verticals. For instance, in February 2018, Splunk acquired Phantom Cyber, a SOAR platform provider, which led to SOAR being embedded into Splunk’s analytics-driven security solution and is also used for IT operations use cases such as infrastructure monitoring, application performance monitoring and troubleshooting. In February 2019, Palo Alto Networks acquired Demisto, a company specializing in SOAR. The acquisition is expected to advance Palo Alto Networks’s ability to deliver automated threat prevention and response for security teams. In August 2019, Resolve Systems acquired FixStream, a leading vendor in AIOps. The acquisition will help Resolve Systems to predict, diagnose, and automate resolution of complex infrastructure and application issues.

Key Players
The key players in the global SOAR market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Cisco Systems, Inc. (US), IBM Corporation (US), FireEye Inc. (US), Swimlane, LLC (US), Palo Alto Networks (US), Rapid7 (US), Splunk Inc. (US), LogRhythm, Inc. (US), DFLabs (Italy), ThreatConnect (US), Cyberbit (Israel), CyberSponse (US), D3 Security (US), Ayehu Software Technologies Ltd. (US), and Resolve Systems (US). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.

The other players in the global SOAR market include Tufin (Israel), Exabeam (US), Siemplify (US), ATAR Labs (Europe), EclecticIQ (Netherlands) and Syncurity (US).

Intended Audience
Cloud infrastructure and component providers
Value-added resellers (VARs)
System Integrators (SIs) and aggregators
Security and access management providers
Government and local authorities
Technology consultants
Investors and venture capitalists
Compliance officers
Chief financial officers
DC
SOAR
response
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immune response
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soar security orchestration
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soar automation
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incident response orchestration
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