Press release
The Security Automation Market Reach USD 26.6 Billion Globally by 2032 Growing at 12.2% CAGR
The cloud computing model is widely used due to its strong and adaptable architecture. Many firms are turning to cloud solutions to simplify data storage since they provide remote server access over the internet, as well as limitless computing capacity. Furthermore, having a cloud-based architecture enables businesses to monitor all of their apps by providing incredibly tough analytics that run in the background. However, the rise in adoption of cloud has increased the number of cyberattacks. This boosts the demand for real-time threat detection among enterprises, thereby propelling the growth of the security automation market.
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The global security automation market was valued at $9.1 billion in 2023, and is projected to reach $26.6 billion by 2032, growing at a CAGR of 12.2% from 2024 to 2032.
The security automation industry is segmented into component, deployment mode, technology, application, industry vertical, and region. By component, the market is bifurcated into solution and services. As per deployment mode, the market is segregated into on-premises and clouds. By technology, the market is classified into AI & ML, predictive analytics, RPA, and others. By application, the market is categorized into network security, endpoint security, incident response management, vulnerability management, and others. By industry vertical, the market is divided into BFSI, IT & telecommunications, healthcare, government, manufacturing, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Industry Trends:
● In August 2023, the Indian government passed the Digital Personal Data Protection Bill, 2023. This bill was passed to protect the constantly growing personal data available online owing to the adoption of several applications by individuals.
● In February 2024, President Joe Biden authorized the U.S. attorney general to regulate the transfer of personal data of the large number of Americans to countries of concern.
● In June 2023, the European Union announced the implementation of a bill that regulated the authority of data access and sharing of connect machines & devices across the manufacturing sector.
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By region, the security automation market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share in 2023. North America has appropriate infrastructure due to the presence of prime vendors in nations such as the United States and Canada, leading to constant development of advanced security solutions integrating technologies such as AI, ML, and predictive analytics.
The major players operating in the security automation market include Palo Alto Networks, Check Point, Red Hat, Cisco Systems Inc, and IBM Corporation. Other players in the security automation market include Fortinet, Microsoft Corporation, Secureworks, D3 Security, and Crowdstrike.
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Recent Key Strategies and Developments
● In June 2023, Checkpoint Software technologies Ltd partnered with Everphone for developing advanced threat prevention solutions for corporate smartphones. This solution is expected to detect malicious activity on real-time and reduce the impact of any unwanted attack on company data.
● In April 2023, Crowdstrike announced the launch of its first threat and visibility detection solution from chrome operating system. This solution does not require an additional mobile device management solution for detecting threats.
● In April 2024, February 2023, Check Point announced the launch of Infinity Spark which is a threat detection and prevention solution with AI integrated for security automation across SMEs.
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