Security Orchestration Automation and Response (SOAR) Market Size, By Component (Software, Services), Application (Threat Intelligence, Network Forensics, Incident Response, Compliance), Deployment, Enterprise Size, Industry Vertical & Forecast, 2023 - 20

Security Orchestration Automation and Response (SOAR) Market Size, By Component (Software, Services), Application (Threat Intelligence, Network Forensics, Incident Response, Compliance), Deployment, Enterprise Size, Industry Vertical & Forecast, 2023 - 2032

Security Orchestration Automation and Response (SOAR) Market is expected to record 14.5% CAGR from 2023 to 2032 backed by escalating complexity of cyber threats that necessitates advanced and automated security measures. There is a rising demand for integrated solutions that can streamline and automate security processes as organizations face sophisticated attacks.
Furthermore, with growing adoption of cloud computing, compliance mandates demand organizations to have robust security measures in place, prompting the adoption of automated methods that not only enhance security framework but also reorganize reporting adherence. For instance, ManageEngine, the enterprise IT management division of Zoho Corporation, introduced Endpoint Central MSP Cloud, stating that it brought the advantages of the cloud's efficiency, scalability and flexibility to the remote monitoring and management of endpoints for managed service providers (MSPs).
Security Orchestration Automation and Response (SOAR) Market is classified based on component, application, deployment, enterprise size, industry vertical and region.
The services segment will expand substantially through 2032, as organizations increasingly recognize the need for seamless integration and deployment of SOAR solutions tailored to their specific security requirements. Professional services, including consulting, training, and support, offer invaluable expertise in implementing and optimizing SOAR platforms.
The compliance application of SOAR market is estimated to generate notable revenues over 2023-2032, as these solutions fortify organizational resilience. Through their orchestrated approach, they streamline incident response, and automate tasks, ensuring compliance adherence. By enabling rapid incident resolution and automating repetitive compliance-related processes, SOAR platforms not only guarantee swift responses to potential threats but also maintain meticulous documentation, aiding organizations in meeting stringent regulatory requirements. The integration of compliance functionalities within SOAR systems amplify efficiency, reduces human error, and empowers enterprises to navigate complex regulatory landscapes with agility and precision.
Europe Security Orchestration Automation and Response (SOAR) market is anticipated to grow at a significant pace through 2032, owing to the heightened awareness of cybersecurity threats and stringent data protection regulations. The increasing adoption of internet of things (IoT) in enterprises necessitates agile and comprehensive security measures, pushing the organizations to invest in advanced security solutions. These factor will create lucrative opportunities for the industry players to explore & exploit the regional landscape.