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Security Orchestration Market Aggrandizes to USD 2123.5 Million by 2023 With 15% of CAGR Worldwide; Asserts MRFR
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The global Security Orchestration market is projected to witness a rapid growth during the forecast period. By application segment, network forensics segment is expected to account for the largest market share as a large number of organizations are adopting network forensic solutions to monitor internet network traffic. Threat intelligence is expected to grow at the highest CAGR during the forecast period.
The global security orchestration market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the security orchestration market in North America region is expected to witness significant growth during the forecast period owing to the presence of major players and demand for advanced security solutions to combat cyber-attacks.
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In the global Security Orchestration market, Asia Pacific is anticipated to grow at the highest CAGR during the forecast period as compared to other regions, owing to the growing adoption of cloud service with advanced security technology implementation in IT, BFSI, and retail industry. Increasing data breach incidents are expected to be the other key driver of security orchestration market.
Some of the prominent players in the global security orchestration market are FireEye, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Intel Security (U.S.), IBM Corporation (U.S.), Huawei Technologies (China), Hexadite (U.S.), Phantom Cyber Corporation (U.S.), Tufin (Israel), Swimlane LLC (U.S.), and CyberSponse Inc. (U.S.) and others.
Security Orchestration Market Segmentation:
The global security orchestration market is segmented into component, application, deployment, organization size, and vertical. The component segment consists of solution and service. The service segment is segmented into professional services, consulting services, training and education, support and maintenance and managed services. The application segment is segmented into threat intelligence, network forensics, ticketing solutions, compliance management and others. The deployment segment consists of cloud and on-premise. The organization size segment comprises small and medium enterprise and large enterprises. The end-user segment consists of BFSI, energy and utilities, government, healthcare, retail, IT & telecommunication, and others.
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