Security Automation Industry Forecast, 2028: Rise in Advent of Predictive Analytics to Anticipate Potential Threats Creates Lucrative Opportunities

DUBLIN, Nov. 3, 2023 /PRNewswire/ -- The "Global Security Automation Market Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering.

The global security automation market 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. The market is anticipated to grow due to the rising cybersecurity threats and complexity, and growing ability to detect and respond to security incidents in real time.

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By offering, solutions segment to register for largest market size during forecast period

The solution segment includes SOAR, SIEM, and XDR. The growth of the solutions segment in the security automation market is being driven by several key factors the rapid proliferation of connected devices and digital services has expanded the attack surface for cybercriminals, necessitating a proactive and automated approach to threat detection and mitigation.

By vertical, healthcare & life sciences segment to register fastest growing CAGR during the forecast period

The healthcare & life sciences verticals have witnessed tremendous advancements over the past decade, and security automation technology have played a pivotal role in driving this progress. Security automation in the healthcare and life sciences sectors streamlines compliance with regulations like the Health Insurance Portability and Accountability Act (HIPAA) and ensures the continuity of critical research activities. By automating security processes such as vulnerability assessments, threat detection, and incident response, organizations can focus on delivering high-quality patient care and advancing scientific discoveries without compromising security.

North America to witness the largest market size during the forecast period

North America is experiencing significant technological growth in the security automation market, driven by various factors shaping the landscape of intelligent and connected devices. The continuous growth of the security automation market in the region is due to the heavy investment done by companies and countries against cyberattacks and the presence of market players across the region. The increase in the number of cyberattacks is giving a wake-up call to different organizations to safeguard their businesses by using new and innovative technologies, such as SOAR, to prevent attacks and to guard their organization's valuable and critical data.

Premium Insights

• Increase in Phishing Emails and Ransomware Incidents to Facilitate Audit Trails to Drive Market Growth
• Market to Witness Minor Decline in Y-O-Y Growth in 2023
• Identity & Access Management Segment to Grow at Highest CAGR During Forecast Period
• Solution Offerings and BFSI Vertical to Account for Largest Respective Market Shares in North America in 2023
• North America to Account for Largest Market Share in 2023

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
• Challenges
  
  • Shortage of Modern IT Infrastructure

Case Study Analysis

• BFSI
  
  • Superior Credit Union Relied on Taegis ManagedXDR for Proactive Security
  • R3'S Security Team Saved More Than 220 Hours/Month with Tines
  • Tenable Unified Vulnerability Management Program of Global Payment AU NZ
  • e-Finance Strengthened Digital Payment Security Ecosystem in Egypt with LogRhythm SIEM
• Healthcare
  
  • Almac Group Stepped Up IoT Security
  • McKesson Chose Tines for Its Refreshing Approach to Security Automation
  • Geisinger Expanded Crowdstrike Usage to Protect AWS Cloud Workloads
• Energy & Utilities
  
  • Baskentgaz Prevented Potential Dos and XSS Attacks by Using LogSign SIEM
  • Botswana Power Corporation Secured Its Infrastructure, Its Business, and Its Management's Confidence with Check Point
• IT & ITeS
  
  • Upwork Used Tines to Improve Its Security Posture and Help Its End-users Get Smarter
  • Auth0 Used Tines to Deliver Faster and More Efficient Security Alert Response Service
• Media & Entertainment
  
  • Tines Helped Canva to Improve Its Security Detection and Response
  • The Kraft Group Adopted Taegis ManagedXDR to Transform Its IT Environment
• Retail & e-Commerce
  
  • Busy Beaver Took Customer-First Approach to IT Security
  • Global Retailer Reduced Risk with SecureWorks Threat Detection and Response
• Telecom
  
  • Vodafone Idea Limited Automated to Improve IT Infrastructure
• Manufacturing
  
  • SMS Group Maintained Highest Standards of Security with Trellix Solutions
• Government & Defense
  
  • Turkish Red Crescent Used LogSign SIEM Against Possible Cyber Threats
• Education
  
  • Istanbul Bilgi University Observed Network and System Activities of Users on All Campuses Using LogSign SIEM
• Automotive & Transportation
  
  • Tines Enabled Turo's Lean Security Team to Do More with Less

Technology Analysis

• Key Technology
  
  • Artificial Intelligence and Machine Learning (AI and ML)
  • Biometric Authentication
  • Containerization and Microservices
  • Quantum Computing
  • User and Entity Behavior Analytics (UEBA)
  • Network Segmentation Technologies
  • Blockchain
• Adjacent Technology
  
  • IoT
  • 5G
  • Cloud Computing
  • Edge Computing
  • Remote Work Technologies

Business Model Analysis

• Subscription-based Services
• Freemium Models
• Managed Security Services
• Platform as a Service (PaaS)
• On-Premises Licensing
• Usage-based Models
• Hybrid Cloud Models

Key Attributes

Key Topics Covered

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Security Automation Market, by Offering
7 Security Automation Market, by Technology
8 Security Automation Market, by Application
9 Security Automation Software Market, by Code Type
10 Security Automation Market, by Vertical
11 Security Automation Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent and Related Markets
15 Appendix

Companies Profiled

• Anvilogic
• CyberArk
• Check Point
• CrowdStrike
• Cisco
• Carbon Black
• Cyware
• Cyberbit
• Devo Technology
• D3 Security
• Drata
• Exabeam
• Fortinet
• Google
• IBM
• LogRhythm
• LogSign
• Microsoft
• ManageEngine
• Palo Alto Networks
• Red Hat
• Splunk
• Secureworks
• Swimlane
• Sumo Logic
• Sirp
• Trellix
• Tenable
• Tufin
• Tines
• Torq
• Vulcan Cyber
• Veriti
• Vanta

For more information about this report visit https://www.researchandmarkets.com/r/w4h2jl

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