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Security Automation Market Size - By Offering (Solution, Services), By Technology, By Application, By Code (Low-code, No-code, Full-code), By Industry Vertical, By Deployment Model (Cloud, On-premises) & Forecast, 2024 – 2032

  • Report ID: GMI10548
  • Published Date: Jul 2024
  • Report Format: PDF

Security Automation Market Size

Security Automation Market size was valued at USD 10.6 billion in 2023 and is anticipated to register a CAGR of over 12.5% between 2024 and 2032. The increasing complexity and diversity of cyber threats, ranging from malware & phishing attacks to advanced persistent threats, are primary factors driving the market growth. Organizations recognize the limitations of traditional manual approaches in responding to these evolving threats. Security automation empowers them to swiftly detect & counteract threats by automating routine tasks, leveraging advanced analytics, and providing real-time threat intelligence, thereby enhancing their overall cybersecurity posture.
 

Security Automation Market

Incident response automation is a key driver of the security automation market as it significantly reduces the time taken to identify, contain, and mitigate security incidents. It streamlines incident handling processes, automates routine tasks, and ensures rapid response to cyber threats. With the increasing volume & complexity of attacks, organizations are recognizing the need for automated incident response to minimize damage & downtime. This heightened demand for efficient incident response capabilities is fueling the market growth.
 

High upfront investment costs can be a significant hindrance to the security automation market growth. Many organizations, especially smaller ones, may find it challenging to allocate the necessary budget for acquiring & implementing security automation solutions. These costs include purchasing software, hardware, training staff, and customizing systems to fit their unique needs. This financial barrier can deter adoption, limiting the market's growth potential, despite the long-term benefits of improved security & operational efficiency that automation can offer.
 

Security Automation Market Trends

The rising adoption of AI systems is fueling lucrative growth in the security automation industry. AI-powered solutions enhance threat detection & response by analyzing vast datasets in real-time, identifying anomalies, and automating actions to counter threats swiftly. For instance, in May 2023, Blink introduced a groundbreaking tool called Blink Copilot, which marks the debut of generative AI designed to automate security & IT operations workflows. This innovative solution empowers security operators to effortlessly create no-code workflows through a straightforward prompt.

As AI continues to develop, organizations are increasingly integrating AI-driven automation into their security strategies, creating significant market opportunities for AI-based security automation solutions.
 

Security Automation Market Analysis

Security Automation Market Size, By Offering, 2022 – 2032, (USD Billion)

Based on offering, the market is divided into solution & service. The solution segment held a market share of over 72% in 2023. The segment is experiencing robust growth due to its vigorous detection & in-depth analysis capabilities. These capabilities empower organizations to swiftly identify & respond to security threats, minimizing potential damage.
 

For instance, in April 2023, D3 Security, a vendor specializing in Security Orchestration, Automation, and Response (SOAR), unveiled its Smart SOAR platform. This platform goes beyond the conventional SOAR concept, offering highly scalable, risk-focused autonomous incident triage & resolution capabilities across all system layers. The enhanced features of Smart SOAR complement D3 Security's well-crafted integrations, specifically addressing detection & analysis gaps within each integrated tool.
 

Security Automation Market Share, By Industry Vertical, 2023

Based on industry vertical, the security automation market is categorized into BFSI, media & entertainment, manufacturing, government & defense, energy & utilities, retail & e-commerce, healthcare, IT & telecom, and others. The IT & telecom segment held a market share of 20% in 2023. Collaborations between security automation vendors & major IT industry giants are driving growth in the IT & telecom segment. These partnerships bring together cutting-edge security automation solutions with the extensive resources & market reach of IT giants.
 

For instance, in April 2023, Swimlane LLC, a company specializing in security automation, revealed a strategic collaboration with Amazon Web Services Inc. Moreover, Swimlane's Turbine product transformed to become a cloud-based platform. This partnership entailed the integration of Swimlane's low code automation platform, Turbine, with Amazon Security Lake. This synergy enabled organizations in the IT & telecom sector to access and implement advanced security automation technologies more efficiently, bolstering their cybersecurity defenses and ensuring business continuity in the face of evolving cyber threats.
 

U.S. Security Automation Market Size, 2022 -2032, (USD Billion)

North America led the global security automation market with a major share of over 36% in 2023. The region is witnessing emerging technological advancements owing to which it will experience substantial growth during the forecast period. Innovation in artificial intelligence, machine learning, and data analytics is enhancing threat detection & response capabilities. Organizations in this region are increasingly adopting sophisticated security automation solutions that leverage these technologies.
 

Additionally, the rising demand for cloud-based security automation is driving the market further. The combination of advanced technologies & evolving security needs is propelling the North America market to new heights.
 

Security Automation Market Share

Major players operating in the security automation industry are Palo Alto Networks, Splunk, Cyberark, Checkpoint, IBM Corporation, Google LLC, and Fortinet which holds over 20% market share across globe. These companies focus on continuous product development and innovation which are essential to meet evolving security needs. Security automation companies invest in research and development to enhance their offerings, adding new features, capabilities, and integrations to stay ahead of the competition.
 

Security Automation Market Companies

Major players operating in the security automation industry are:

  • Palo Alto Networks
  • Splunk
  • Cyberark
  • Checkpoint
  • IBM Corporation
  • Google LLC
  • Fortinet
     

Security Automation Industry News

  • In September 2023, HCL Software, a renowned provider of enterprise software solutions, unveiled HCL BigFix 11, which incorporates Gen AI to secure the automation of infrastructure & operations. This hybrid multi-cloud solution, HCL BigFix, seamlessly incorporates intelligent automation, offering a plug-and-play approach to integration.
     

The security automation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2032, for the following segments:

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Market, By Offering

  • Solution
    • Security Orchestration, Automation, And Response (SOAR)
    • Security Information and Event Management (SIEM)
    • Extended Detection and Response (XDR)
  • Service
    • Professional Services
    • Managed Services

Market, By Technology

  • AI & ML
  • Robotic Process Automation
  • Others

Market, By Deployment Mode

  • Cloud
  • On-premises

Market, By Application

  • Network Security
  • Endpoint Security
  • Incident Response Management
  • Vulnerability Management
  • Identity & Access Management
  • Compliance & Policy Management
  • Data Protection & Encryption
  • Others

Market, By Code

  • Low-code
  • No-code
  • Full-code

Market, By Industry Vertical

  • BFSI
  • Media & Entertainment
  • Manufacturing
  • Government & Defense
  • Energy & Utilities
  • Retail & E-commerce
  • Healthcare
  • IT & Telecom
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Nordics
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ANZ
    • Southeast Asia
    • Rest of APAC 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM 
  • MEA
    • South Africa
    • UAE
    • Saudi Arabia
    • Rest of MEA

 

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of security automation reached USD 10.6 billion in 2023 and will grow at 12.5% CAGR between 2024 and 2032, due to the growing complexity and variety of cyber threats, including malware, phishing attacks, and advanced persistent threats.

The IT & telecom segment achieved 20% of the security automation industry share in 2023, driven by its critical role in managing and protecting vast amounts of data and network infrastructure.

North America market captured 36% share in 2023, attributed to its advanced technological infrastructure and high adoption rates of digital solutions.

Prominent players operating in the industry are Palo Alto Networks, Splunk, Cyberark, Checkpoint, IBM Corporation, Google LLC, and Fortinet, among others.

Security Automation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 17
  • Tables & Figures: 390
  • Countries covered: 25
  • Pages: 270
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