Security Automation Global Market Report 2024

The security automation market size has grown rapidly in recent years. It will grow from $9.45 billion in 2023 to $10.81 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The increase in the historical period can be attributed to factors such as heightened cyber threats, the emergence of advanced persistent threats (APTs), the growing complexity of IT environments, increased demands for endpoint security, and optimization of incident response protocols.

The security automation market size is expected to see rapid growth in the next few years. It will grow to $18.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The anticipated growth in the forecast period can be attributed to the automation of integrated risk management, global sharing of threat intelligence, automated compliance with privacy and data protection regulations, and security automation for the Internet of Things (IoT). Notable trends expected in the forecast period include the integration of AI and machine learning, the implementation of zero-trust architecture, the expanded use of Security Orchestration, Automation, and Response (SOAR) platforms, automation in IoT security, and increased collaboration between humans and machines.

The security automation market is poised for growth due to the increasing occurrences of phishing attacks and security breaches. Phishing attacks involve social engineering tactics aimed at acquiring user information, such as login credentials and credit card details, while security breaches entail the exposure of sensitive information to an insecure external environment, often for financial gain or due to unintentional errors. These incidents are motivated by various factors, including financial gain, data theft, identity theft, espionage, system disruption, or the opportunistic exploitation of vulnerabilities. To effectively address these challenges, security automation plays a crucial role in enhancing detection and response capabilities. For instance, in the first quarter of 2022, the Anti-Phishing Working Group recorded a 15% increase in phishing attacks, totaling 1.03 million attacks, compared to 888,585 attacks in the fourth quarter of 2021. This surge in phishing attacks and security breaches is a key driver for the growth of the security automation market.

Leading companies in the security automation market are intensifying their efforts to develop advanced solutions, such as the security automation ecosystem tailored for operational technology (OT), to gain a competitive advantage. A security automation ecosystem comprises an integrated system of tools, technologies, and processes designed to automate various cybersecurity operations. In November 2022, Swimlane, a US-based security automation company, introduced the security automation ecosystem for OT. This initiative by Swimlane aims to elevate security operations in OT environments by providing solutions that seamlessly integrate security automation with OT and IoT security, cyber-physical threat response, and managed threat detection services.

In March 2022, CyberArk Software Inc., a US-based digital information security software company, completed the acquisition of aapi Inc. for an undisclosed amount. This strategic move positions CyberArk to enhance its offerings in identity security, particularly in identity automation and orchestration. aapi Inc., a US-based company specializing in automation and orchestration solutions, aligns with CyberArk's goals to strengthen its capabilities in securing digital identities.

Major companies operating in the security automation market are Google LLC, Microsoft Corporation, International Business Machines Corporation, Cisco Systems Inc., VMware Inc., Palo Alto Networks Inc., Fortinet Inc., Splunk Inc., Akamai Technologies Inc., Crowdstrike Holdings Inc., McAfee LLC, Check Point Software Technologies Ltd., Secureworks Inc., Darktrace PLC, Sumo Logic Inc., Devo Technology Inc., Symphony Technology Group, SentinelOne Inc., Tenable Inc., Exambeam Inc., LogRhythm Inc., ManageEngine, Swimlane LLC, Anvilogic Inc., Torq Labs Inc., Vanta Inc.

North America was the largest region in the security automation market in 2023. The regions covered in the security automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the security automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Security automation involves utilizing technology and processes to autonomously handle cybersecurity tasks, including threat detection, incident response, vulnerability scanning, patch management, and policy enforcement, without direct human intervention. This practice enhances security posture, reduces response times to threats, and optimizes resource utilization through the use of specialized software tools, scripts, and orchestration platforms.

The primary categories of security automation encompass solutions and services. Solutions provide comprehensive answers or resolutions to cybersecurity challenges. The technologies involved include artificial intelligence and machine learning, predictive analytics, robotic process automation, user and entity behavior analytics, among others. Various applications of security automation span network security, endpoint security, incident response management, vulnerability management, identity and access management, compliance and policy management, as well as data protection and encryption. These applications cater to diverse verticals such as banking, financial services and insurance, manufacturing, media and entertainment, healthcare and life sciences, energy and utilities, government and defense, retail and e-commerce, among others.

The security automation market research report is one of a series of new reports that provides security automation market statistics, including security automation industry global market size, regional shares, competitors with a security automation market share, detailed security automation market segments, market trends and opportunities, and any further data you may need to thrive in the security automation industry. This security automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The security automation market consists of revenues earned by entities by providing services such as incident detection and response services, vulnerability management services, security orchestration services, and threat intelligence services. The market value includes the value of related goods sold by the service provider or included within the service offerings. The security automation market consists of sales of security orchestration, automation, and response (SOAR) platforms, security information and event management (SIEM) systems, vulnerability management solutions, and threat intelligence platforms. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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