NEW CASTLE, Delaware, Aug. 05, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report titled “Security Automation Market by Components (Solutions and Services), Deployment Mode (Cloud and On Premises), Technology (AI) and Machine Learning, and Predictive Analytics , Robotic Process Automation, etc.), Applications (Network Security, Endpoint Security, Incident Response Management, Vulnerability Management, etc.), and Industry Verticals (ICT, BFSI, Healthcare, Manufacturing, Government, etc.): Opportunity Analysis Global and Industry Outlook, 2024-2032”. The global security automation market was valued at $9.1 billion in 2023 and is expected to reach $26.6 billion by 2032, growing at a CAGR of 12.2% from 2024 to 2032.
Key determinants of growth
The cloud computing model is widely used due to its robust and scalable architecture. Many companies are turning to cloud solutions to simplify data storage because they provide remote server access over the Internet, as well as limitless computing power. Moreover, having a cloud-based architecture enables companies to monitor all their applications by providing highly challenging analytics running in the background. However, the rise in cloud adoption has led to an increase in the number of cyber attacks. This enhances the demand for real-time threat detection among organizations, thus driving the growth of the security automation market.
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Report coverage and details:
Report Coverage Details Expected Period 2024-2032 Base Year 2023 Market Size in 2023 $9.1 Billion Market Size in 2032 $26.6 Billion CAGR 12.2% Number of Pages in the Report 250 Component Sectors Covered, Deployment Mode, Technology, Application, Sector Industry and region. Drivers Rise in complexity in cybersecurity Increase in cybercrime across industries Opportunities Increase in adoption of predictive analytics for early threat detection Limitations Growth in data privacy concerns
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Sector highlights
Regulatory standards such as the General Data Protection Regulation (GDPR), CCPA, PCI DSS, and HIPAA force organizations to use strong security measures to secure and comply with sensitive data. Security automation simplifies compliance efforts by automating security controls, audits, and reporting procedures. Additionally, the threat landscape is always changing, as attackers use increasingly sophisticated methods to circumvent standard security protections. Security automation enables organizations to quickly respond to new threats by automating the detection, investigation, and response to security incidents in real time. These factors contribute to the continued growth of the global security automation market.
Likewise, the adoption of cloud computing, IoT devices, BYOD rules, and hybrid IT environments has increased the complexity of IT infrastructure management and security. Here, security automation gives organizations the scalability and agility they need to efficiently secure complex and dynamic IT systems. Moreover, it helps organizations reduce their operational costs by automating manual and repetitive tasks. This enables organizations to increase their efficiency and reduce manual errors.
Regional forecasts
By region, the Security Automation market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America accounted for the highest share in 2023. North America has a favorable infrastructure due to the presence of major vendors in countries such as the US and Canada, leading to the continuous development of advanced security solutions that integrate technologies such as artificial intelligence, machine learning and predictive technologies. Analytics.
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Major players in the industry:-
Palo Alto Networks Check Point Red Hat Cisco Systems Inc IBM Corporation Fortinet Microsoft Corporation Secureworks D3 Security Crowdstrike
The report provides a detailed analysis of these key vendors in the global Security Automation market. These players have adopted various strategies such as new development, collaborations, expansion, joint ventures, agreements, etc. to increase their market share and maintain their dominant shares in different regions. The report is useful in highlighting the business performance, operating segments, portfolio and strategic moves of market vendors to highlight the competitive scenario.
Recent developments:
On May 6, 2024, Swimlane LLC announced a security automation marketplace. Swimlane Marketplace is designed to enable organizations to automate security operations across business processes. On March 13, 2024, Stellar Cyber and Torq announced their partnership to develop an automated security operations platform. This partnership aims to provide security teams across organizations with integrated integrated solutions to simplify their security operations. On February 27, 2024, NTT Data Group Corporation announced its partnership with Swimlane LLC for its security automation. This partnership aims to enhance NTT's capabilities in the field of Security Operations Center (SOC) solutions. On June 6, 2023, Palo Alto Networks, in partnership with Cortex, announced the launch of Expander 2.2, which integrates AI capabilities to enhance the modern Security Operations Center (SOC) to transform security operations across enterprises.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP headquartered in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Report Insights and Business Intelligence Solutions. AMR has a targeted vision to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their market domain.
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