Security Orchestration Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Security Orchestration Industry Overview

The security orchestration market is highly competitive and consists of several major players. In terms of market share, few major players currently dominate the market. Moreover, due to the emergence of the cloud network segment, most companies are increasing their SOAR market presence, tapping customers across the subsequent markets. Further, the players are opting for various strategies, such as collaborations and solution launches, thereby contributing to the market growth rate. For instance:

• March 2023-IBM and Cohesity have formed a new partnership to meet organizations' essential need for better data security and reliability in hybrid cloud settings. IBM Storage Defender is being developed to use AI and event monitoring across various storage platforms through one single window to assist in safeguarding organizations' data layer from threats, including ransomware, human error, and attack. 
• February 2023-Morado Intelligence, a threat intelligence company that assists clients with their needs for cyber threat intelligence and security operations optimisation, and Cyware, a provider of the technology platform to build low-code SOAR and threat intel automation powered Cyber Fusion Centres for businesses and MSSPs/MDRs, as well as threat intelligence sharing solutions for ISACs and ISAOs, have formed a partnership. The partnership's primary objective is to make it easier for Morado's robust client portfolio to use Cyware's advanced TIP & SOAR modules to effectively ingest, enhance, analyze, and respond on threat data.