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New Product Developments to Achieve Growth in the Global Security Orchestration Market
Security orchestration is the ability to control networks, tremendous amount of data and applications with the use of automated systems and data driven analysis. It enables organizations to automatically detect and respond to security operations from a single console. It also helps automatically manage, design, and indicate network security changes. MarketsandMarkets forecasts that the security orchestration market size will grow from USD 826.1 Million in 2016 to USD 1682.4 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 15.3%. The sophistication level in the cyber-attacks is increasing and creating demands for more comprehensive security orchestration solutions that would protect enterprises from advanced cyber threats.
The key players in the security orchestration market include 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 (U.S.) and CyberSponse Inc. (U.S.). These players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, and new product developments to achieve growth in the global security orchestration market.
The security orchestration market witnessed a lot of partnerships, agreements, and collaborations by key players from 2014 to 2016. Intel partnered with Texas Pacific Group (TPG) to establish one of the largest cybersecurity companies that would focus on developing endpoint and cloud as security control points, actionable threat intelligence analytics, and orchestration solutions. Cisco partnered with Tufin to deliver a comprehensive security management platform across public, private, and hybrid cloud networks, and control application security policies using a single console. FireEye teamed up with Check Point Software to share the threat intelligent platform in order to protect customers from advanced cyber threats.
The key players also adopted the strategy of mergers and acquisitions to increase their geographic presence, and expand their product portfolio to untapped markets. IBM acquired Resilient Systems to enhance incident response capabilities of IBM, helping clients to defend against cyber breaches. FireEye acquired Invotas International to offer premier security orchestration capabilities and automation platform. Moreover, Cisco acquired Tail-F Systems to deliver a comprehensive orchestration and virtualization software platform that automates arbitrary security incidents and protects networks from future attacks.
The major players also launched new products and offerings to strengthen their product portfolio and expand their offerings to newer clients. FireEye launched FireEye Orchestrator to help organizations build next generation Security Operations Center (SOC) for reducing the impact of cyber-attacks. Tufin announced new enhancements to its Tufin Orchestration Suite to maximize security and end-to-end policy-based capabilities & secure data, applications, and networks from future cyber threats. IBM launched the new IBM X-Force Incident Response Services to help customers manage and respond to advanced cyber-attacks.
Security orchestration vendors are continuously adding innovation to their products and services to protect networks, endpoints, applications, and data from real-time behavioral anomalies & advanced threats. Furthermore, security orchestration solutions are being increasingly adopted in various verticals, such as the government & defense, BFSI, retail, IT & telecom, healthcare, energy & utilities, media & entertainment, and manufacturing which have led to the growth of the market, across the globe.
Security Orchestration Market by Component (Solution and Service), Application (Threat Intelligence, Network Forensics, Ticketing Solutions, and Compliance Management), Deployment Mode, End User, and Vertical, Region - Global Forecast to 2021
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