The Global Security Automation Market size is expected to reach $21.2 billion by 2030, rising at a market growth of 13.5% CAGR during the forecast period.
Information security & privacy have grown ever more crucial in the healthcare industry. Hospitals increasingly use electronic health records (EHR) to store private patient data. Therefore, the Healthcare & Lifesciences segment registered $842.5 million revenue in the market in 2022. Major companies invest in cutting-edge technologies like natural language processing, cloud computing, artificial intelligence, and the Internet of Things (IoT) to reduce operational costs and enhance healthcare services. As the healthcare industry adopts new technologies to improve process efficiency, like EHR, AI, and others, it confronts risks. With all this, the deployment of security automation will accelerate in the healthcare sector in the upcoming years.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, IBM Corporation took over Polar Security, to automate Cloud Data Protection. Additionally, In February, 2022, Check Point Software Technologies completed the acquisition of Spectral, to enable the cloud developer’s community and their mission of providing cloud security automation, usability, and trust across any cloud.
Based on the Analysis presented in the KBV Cardinal matrix; Cisco Systems, Inc. is the major forerunner in the Market. In June, 2021, Cisco took over Kenna Security, to transform how security and IT teams work to minimize the attack surface and the time it takes to identify and respond. Companies such as IBM Corporation, VMware, Inc., and Check Point Software Technologies Ltd. are some of the key innovators in the Market.
Predictive analytics' increasing use is a crucial driver of the market's expansion for security automation solutions since it allows businesses to foresee and thwart cyber threats with previously unheard-of precision. Predictive analytics uses current as well as historical data to identify prospective vulnerabilities, security flaws, and attack patterns. When included in security automation solutions, these predictive insights enable proactive threat mitigation, anticipatory incident responses, and the optimization of security operations. Automated incident response is strengthened with timely accuracy by predictive analytics. It is projected that the market will expand due to the rise in the adoption of predictive analytics to foresee potential risks.
Organizations increasingly need to strengthen their cybersecurity measures because of cyber threats' increasing commonness and complexity. There is a greater awareness of vulnerability due to the dynamic nature of contemporary cyberattacks, ranging from nation-state attacks and social engineering to ransomware and zero-day exploits. Traditional manual cybersecurity methods are frequently unable to manage the quickly expanding landscape as attacks become more complex, diversified, and targeted. Security automation is crucial in thwarting these threats by offering real-time detection, quick response, and proactive protection measures. Security automation is essential because of the rising complexity and variety of cybersecurity threats. Organizations can identify, respond to, and mitigate hazards with automation at a speed and scale that human intervention alone cannot match. As a result, the market is estimated to witness significant growth with the growing cybersecurity threats.
The widespread use of security automation solutions in the market may be hampered by data privacy and security concerns, which is a significant factor. Resolution of privacy issues relating to data processing, collection, and sharing may take longer if legal and ethical issues are carefully considered. Data gathering, handling, and exchanging data through automated security systems is the focus of data privacy concerns. Access to sensitive data is often necessary for security automation analysis and decision-making. A comprehensive strategy incorporating privacy-by-design principles into creating and implementing security automation systems is needed to address these challenges. Companies must conduct detailed privacy impact analyses, put data protection safeguards into place, ensure encryption and secure data handling, and keep up with current data protection laws.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Mergers & Acquisition.
By offering, the market is segmented into solution and services. In 2022, the solution segment held the highest revenue share in the market. Security automation solutions offer many benefits for organizations looking to improve their cybersecurity posture and streamline their security operations. Some security automation solutions use machine learning and AI algorithms to adapt and enhance their threat detection capabilities over time, making them more effective at identifying new and evolving threats. Automation solutions can provide improved visibility into an organization's security posture by consolidating and correlating data from multiple sources.
Based on code type, the market is segmented into low code, no-code, and full code. The no-code segment acquired a remarkable growth rate in the market in 2022. No-code platforms are developed to be user-friendly so that users do not require programming or coding skills. This makes security automation accessible to a wider range of professionals, including security analysts and IT personnel who may not have coding expertise. No-code platforms ensure that security procedures and responses are standardized across the organization. This consistency is critical for maintaining security posture and compliance.
By technology, the market is divided into AI & ML, predictive analytics, RPA, user entity & behavior analytics, and others. The AI and ML segment recorded the largest revenue share in the market in 2022. AI and ML algorithms can analyze vast amounts of data in real-time, enabling the detection of subtle and complex security threats that may go unnoticed by traditional methods. These technologies excel at identifying patterns and anomalies indicative of cyberattacks. AI and ML algorithms continuously adapt to evolving threats and attack techniques. They can update their models and response strategies based on new threat intelligence, ensuring that security measures remain effective.
On the basis of application, the market is classified into network security, endpoint security, incident response management, vulnerability management, identity & access management, compliance & policy management, and data protection & encryption. The endpoint security segment covered a considerable revenue share in the market in 2022. Security automation for endpoint security strengthens an organization's defense against cyber threats and reduces the burden on security teams by handling routine tasks and enabling faster responses to security incidents. Automated endpoint security solutions continuously monitor endpoint activities and network traffic to detect real-time suspicious behavior or known threats.
Based on vertical, the market is classified into BFSI, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, government & defense, retail & eCommerce, IT & ITES, and others. The IT & ITes segment recorded a remarkable revenue share in the market in 2022. IT and ITes companies handle vast amounts of sensitive data, including customer information, financial data, proprietary software, and the rising need for efficient security solutions. Phishing attacks, including spear-phishing and CEO fraud, are common in the IT and ITes sectors. Security automation can help detect and block phishing emails, protecting employees and sensitive data.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 7.8 Billion |
| Market size forecast in 2030 | USD 21.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 13.5% from 2023 to 2030 |
| Number of Pages | 698 |
| Number of Table | 1103 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Code Type, Technology, Application, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. North America is renowned for its cutting-edge technological infrastructure and forward-thinking businesses, making it a center for implementing security automation technologies. The rise in cyberattacks is a wake-up call for various enterprises, urged to protect their operations by implementing cutting-edge technologies like SOAR to thwart assaults and protect their organization's precious and crucial data. Due to its robust technological ecosystem and ongoing innovation, the region plays a significant role in promoting the creation and implementation of these solutions.
Free Valuable Insights: Global Security Automation Market size to reach USD 21.2 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Palo Alto Networks, Inc., CyberArk Software Ltd., Check Point Software Technologies Ltd., Cisco Systems, Inc., IBM Corporation, Splunk, Inc., VMware, Inc., Crowdstrike Holdings, Inc., Fortinet, Inc. and Trellix (Symphony Technology Group)
By Offering
By Code Type
By Technology
By Application
By Vertical
By Geography
This Market size is expected to reach $21.2 billion by 2030.
Increasing adoption of predictive analytics for anticipating potential threats are driving the Market in coming years, however, Data privacy concerns associated with security automation tools restraints the growth of the Market.
Palo Alto Networks, Inc., CyberArk Software Ltd., Check Point Software Technologies Ltd., Cisco Systems, Inc., IBM Corporation, Splunk, Inc., VMware, Inc., Crowdstrike Holdings, Inc., Fortinet, Inc. and Trellix (Symphony Technology Group)
The Low Code segment is generating highest revenue share in the Market by Code Type in 2022; thereby, achieving a market value of $9.9 billion by 2030.
The Network Security segment is leading the Market by Application in 2022; thereby, achieving a market value of $4.8 billion by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $7.4 billion by 2030.
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
