Northbrook, IL 60062 -- (SBWIRE) -- 09/11/2023 -- The global Security Automation Market size is projected to grow from USD 8.9 billion in 2023 to USD 16.7 billion by 2028, at a compound annual growth rate (CAGR) of 13.4% during the forecast period, according to research report by MarketsandMarkets™.

The security automation market is expected to grow significantly during the forecast period, owing to various business drivers like the rising cybersecurity threats and complexity, and the growing ability to detect and respond to security incidents in real-time.

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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.

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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).

Key Dynamic Factors For Security Automation Market:

Cybersecurity Threat Landscape: The demand for security automation is driven by the constantly changing threat landscape, which includes new varieties of cyberattacks and vulnerabilities. Automation can aid in the real-time identification and mitigation of developing hazards, which organisations must quickly respond to.

Regulatory Compliance: The security automation market is significantly impacted by changes to data protection and privacy laws including GDPR, CCPA, and HIPAA. Automation of compliance procedures is necessary for organisations to secure customer data and avoid fines.

Skills Gap: Organisations continue to struggle with the lack of qualified cybersecurity personnel. By automating repetitive operations, automation can assist close this gap by freeing up the current security personnel to concentrate on more difficult problems.

Integration with Security Orchestration: To speed up incident response procedures, security automation is frequently connected with security orchestration. How well these two domains can collaborate in order to improve security operations will affect the market's growth.

Artificial intelligence and machine learning developments have a significant influence on security automation. Organisations can identify and mitigate threats more successfully with the use of AI-driven threat detection and response.

Cloud adoption: As businesses move more operations to the cloud, there is an increasing demand for cloud-native security automation solutions. To ensure security in cloud systems, specialised automation technologies are needed.

IoT Security: As IoT devices proliferate, businesses are looking for automation solutions to secure and manage them. The demand for IoT-specific security automation is being driven by this dynamic element.

distant Work: The COVID-19 epidemic has boosted distant work, increasing the need for security automation to protect remote endpoints and access points.

Security automation is a very competitive sector, and new suppliers and startups are always making their way into it. The dynamics of the market are also impacted by cybersecurity company mergers, acquisitions, and alliances.

Cost effectiveness: Businesses are seeking for ways to cut expenses while keeping high security standards. By automating processes that would normally need manual labour, security automation reduces costs.

Speed of Incident Response: The adoption of security automation is motivated by the requirement to respond to security issues promptly. The effects of cyberattacks can be reduced with quick discovery and action.

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Competitive and Segmentation Analysis:

A challenging segmentation landscape and fierce rivalry define the security automation market. Numerous vendors compete for market share in this dynamic industry by providing a wide range of goods and services that are suited to the various demands of organisations. The security automation market is frequently divided into segments based on variables including technology type, deployment approach, organisation size, industry vertical, and geography.

The market offers a variety of options in terms of technology, including platforms for threat intelligence, user and entity behaviour analytics (UEBA) solutions, incident response automation tools, and Security Orchestration Automation and Response (SOAR) platforms. These tools address several facets of security automation, including threat intelligence integration, compliance automation, and incident detection and response.

With alternatives including on-premises, cloud-based, and hybrid solutions, deployment mode segmentation enables businesses to select the deployment model that best suits their IT infrastructure and security needs. Another crucial aspect is the size of the organisation, with solutions available for both small and large businesses with different needs and budgets.

As security automation systems must be customised to satisfy the particular requirements of sectors including banking and finance, healthcare, government, retail, and manufacturing, among others, industry verticals drive further segmentation. Within particular industries, the selection of security automation systems is frequently influenced by compliance and regulatory constraints.

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