PRNEWSWIRE: A recent study by Reportbuyer suggested that the global security orchestration market was valued at $0.84 billion in 2018 and is expected to reach $7.7 billion by 2027 with an attractive CAGR growth rate of 28.8 percent in the forecast period. Factors such as high year-on-year spending towards security orchestration and growing company’s annual revenue are expected to fuel the security orchestration market growth in the coming years.
The global market for cyber security has witnessed some profound changes in the past few years owing to growing awareness towards data security, coupled with an increase in the number of threats related to cyber security.Moreover, the rise in adoption of various IT enabled services & solutions growing the popularity of connected devices has further boosted the amount of data generated daily subsequently resulting in vast scope for potential vulnerabilities that need effective management as well as containment.
Thus, the surge in demand for effective and efficient cyber security solutions that offers seamless monitoring of various alerts, events notification and reporting of unauthorized access is anticipated to be the significant market driving force for the global security orchestration market in the coming years.
The global security orchestration market has witnessed substantial growth in the past few years owing to unprecedented investment focused towards minimizing enterprise exposure towards cyber threats and automation of low-level threats alerts and notification. Also, the continuous investment towards leveraging the benefits of Artificial Intelligence and Machine Learning towards facilitating efficient incident management and automated response has fueled the market growth especially among developed economies such as North America and Europe.
Whereas among emerging economies in Asia-Pacific and Middle East & Africa regions the growing end-user industries coupled along with the government expenditure towards critical and important infrastructure is expected to drive the market growth in these regions.
The overall security orchestration market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the security orchestration market.
It also provides the overview and forecast for the global security orchestration market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Security orchestration industry.
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