The global Security Automation Market size is anticipated to grow at a CAGR of 13.4% during the forecast period, from USD 8.9 billion in 2023 to USD 16.7 billion by 2028, according to a new report by MarketsandMarkets™. Due to various business drivers, the security automation market is expected to grow significantly during the forecast period. The market is experiencing significant growth as rising cybersecurity threats and complexity, growing ability to detect and respond to security incidents in real-time. The increasing incidents of phishing emails and ransomware, and need to ensure consistent adherence to security policies and facilitate audit trails is also responsible for driving the market’s growth.
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Security Automation 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.
List of Key Players in Security Automation Market:
- Palo Alto Networks (US)
- Splunk (US)
- CyberArk (US)
- Check Point (Israel)
- CrowdStrike (US)
- Red Hat (US)
- Cisco (US)
- Carbon Black (US)
- Trellix (US)
- IBM (US)
Security automation is the automation of security tasks, including both administrative duties and incident detection and response. Security automation provides numerous benefits to the organization by enabling security teams to scale to handle growing workloads. The primary goals of security automation are to enable faster incident response and to increase security agility.
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By services, managed services to register for the highest CAGR during the forecast period
The services segment of the security automation market is growing rapidly. The managed services are vital in properly functioning security automation solutions. Security automation vendors require technical support and consulting services to deploy their solutions quickly and smoothly in the market. Managed services are crucial in the security automation market as they offer specialized services and support to organizations requiring security automation solutions. Their role encompasses various aspects that help businesses leverage the full potential of these technologies effectively.
By technology, AI & ML to register for the highest market size during the forecast period
AI and ML technologies are playing a pivotal role in shaping the landscape of the security automation market. These advanced technologies are revolutionizing the way organizations detect, respond to, and mitigate cybersecurity threats. AI and ML have become integral components of security automation, driving the growth and evolution of this market.
By region, Asia Pacific accounted for highest growth rate during forecast period
Asia Pacific is witnessing significant technological innovation in security automation. Several Asian countries, such as Japan, China, and India, are leveraging information-intensive technologies, and security automation is one of the leading technology trends. With new growth opportunities declining in conventional, strong markets such as North America and Europe, several vendors are interested in Asia Pacific. China, Japan, and India are technology-driven countries and present major opportunities in terms of investments and revenues.
Some major players in the security automation market include Palo Alto Networks (US), Splunk (US), CyberArk (US), Check Point (Israel), CrowdStrike (US), Red Hat (US), Cisco (US), Carbon Black (US), Trellix (US), IBM (US), Secureworks (US), Tenable (US), Microsoft (US), Swimlane (US), Tufin (US), Sumo Logic (US), Google (US), LogRhythm (US), Exabeam (US), ManageEngine (India), Fortinet (US), Devo Technology (US), D3 Security (Canada), Logsign (Netherlands), Vulcan Cyber (Israel), Cyware (US), Cyberbit (US), SIRP (US), Tines (Ireland), Veriti (Israel), Vanta (US), Drata (US), Anvilogic (US), and Torq (US).
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