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The SOAR market is projected to grow from USD 868 million in 2019 to USD 1,791 million by 2024, at a CAGR of 15.6% from 2019 to 2024Increase in the number of complex cyberattacks faced by organizations is driving the overall growth of the SOAR market NEW YORK, Sept. 12, 2019 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05815137/?utm_source=PRN The SOAR market is projected to grow from USD 868 million in 2019 to USD 1,791 million by 2024, at a CAGR of 15.6% from 2019 to 2024. Market growth is driven by various factors, such as increasing cyberattacks, lack in the availability of staff, stringent regulations and compliances, lack of centralized views on threats, and high number of false alerts, which are contributing a considerable share in the SOAR ecosystem. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period Asia Pacific comprises some of the largest economies in the world, such as China, India, Japan, and Australia.The threat landscapes in these countries are changing every day, and threats are being experienced at alarming rates. The types of threats faced by these regions are also changing and growing more complex each day.The region is also leading the adoption of various technologies, such as Smart Cities. As an increasing number of technologies or complex projects are adopted, vulnerability to highly sophisticated threats is also expected to grow.The Asia Pacific is an ideal environment for cybercriminals to thrive in, due to the high digital connectivity and low cybersecurity awareness, growing cross-border data transfers, and weak regulations. The increasing number of alerts and threats combined with the comparative shortage of staff is resulting in 50% of the threats remaining undetected. SOAR solutions can increase the efficiency of security solutions by responding to low-level incidents without the need for human assistance. In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the SOAR market. The breakup of the profiles of the primary participants is given below: • By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25% • By Designation: C-level – 35%, D-level – 35%, and Others – 30% • By Region: North America – 45%, Europe – 25%, Asia Pacific – 25%, RoW – 5% Major vendors offering SOAR solutions include IBM Corporation (US), FireEye (US), Cisco Systems Inc. (US), Rapid7 (US), Splunk Inc. (US), Swimlane LLC (US), Tufin (US), ThreatConnect (US), Demisto (Palo Alto Networks) (US), DFLabs (Italy), LogRhythm (US), Siemplify (US), Resolve Systems (US), CyberSponse (US), and Exabeam (US). The study includes an in-depth competitive analysis of these key market players, along with their profiles, recent developments, and key market strategies. Research Coverage The market study covers the SOAR market size across segments.It aims at estimating the market size and the growth potential of this market across different segments by component, application, deployment mode, organization size, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key Benefits of Buying the Report The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall SOAR market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities. Read the full report: https://www.reportlinker.com/p05815137/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/the-soar-market-is-projected-to-grow-from-usd-868-million-in-2019-to-usd-1-791-million-by-2024--at-a-cagr-of-15-6-from-2019-to-2024--300917126.html SOURCE Reportlinker |