Regional Analysis of the Security Automation Market: North America, Europe, Asia-Pacific
Security Automation Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, June 20, 2024 /EINPresswire.com/ -- The security automation market has seen significant growth, expanding from $9.45 billion in 2023 to $10.81 billion in 2024, marking a compound annual growth rate (CAGR) of 14.4%. It will grow to $18.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. This growth trend is fueled by increasing cyber threats, the prevalence of advanced persistent threats (APTs), and the growing complexity of IT environments, which necessitate robust endpoint security and optimized incident response capabilities.
Rising Phishing Attacks and Security Breaches Drive Market Growth
Phishing attacks, a prevalent form of social engineering aimed at acquiring sensitive information, and security breaches, where confidential data is exposed to unauthorized entities, are key drivers propelling the growth of the security automation market. These threats are motivated by financial gain, data theft, identity theft, and system disruption. According to the Anti-Phishing Working Group, there was a notable 15% increase in phishing attacks in the first quarter of 2022 compared to the previous quarter, underscoring the urgency for enhanced detection and response mechanisms provided by security automation technologies.
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Security Automation Market Major Players and Market Trends3
Leading companies in the security automation market such as Google LLC, Microsoft Corporation, and Cisco Systems Inc. are focusing on advanced solutions leveraging AI and machine learning to bolster cybersecurity operations. For instance, Swimlane introduced a security automation ecosystem tailored for operational technology (OT) environments, integrating OT and IoT security with cyber-physical threat response capabilities.
Innovations in AI and machine learning, implementation of zero trust architectures, extended utilization of Security Orchestration, Automation and Response (SOAR) platforms, and the integration of IoT security automation underscore the major trends shaping the market's forecast period.
Security Automation Market Segments:2
• Type: Solution, Services
• Technology: Artificial Intelligence And Machine Learning, Predictive Analytics, Robotic Process Automation, User And Entity Behavior Analytics, Other Technologies
• Application: Network Security, Endpoint Security, Incident Response Management, Vulnerability Management, Identity And Access Management, Compliance And Policy Management, Data Protection And Encryption
• Vertical: Banking Financial Services And Insurance, Manufacturing, Media And Entertainment, Healthcare And Life Sciences, Energy And Utilities, Government And Defense, Retail And Ecommerce, Other Verticals
Geographical Insights: North America Leading the Market
North America dominated the security automation market in 2023, driven by stringent cybersecurity regulations and high adoption rates of advanced security technologies.
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Security Automation Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Security Automation Global Market Report 2024 by The Business Research Company1 is the most comprehensive report that provides insights on security automation market size, security automation market drivers and trends, security automation market major players, competitors' revenues, market positioning, and market growth across geographies. The security automation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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