Global SOC as a Service
Market Report
2024
The Global SOC as a service market size was USD 6.5 billion in 2022. SOC as a service Industry's Compound Annual Growth Rate will be 10.80% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global SOC as a service market size was USD 6.5 billion in 2022. SOC as a service Industry's Compound Annual Growth Rate will be 10.80% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global SOC as a Service Market Sales Revenue 2022 | $ 6.5 Billion |
Global SOC as a Service Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.8% |
Market Split by Service Type |
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Market Split by Application |
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Market Split by Enterprise Size |
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Market Split by Industry Vertical |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of SOC as a Service industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
SOC as a Service Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Security operations center (SOC) as a service is a subscription-based software offered by several IT businesses. This service is responsible for continuously monitoring and managing the logs of clouds, devices, and all other resources available to the customer business. Over the projection period, the security operations center (SOC) as a service market is anticipated to grow in response to the sharp rise in security breaches and sophisticated cyberattacks against businesses. The market for security operations centers (SOC) as a service is expected to develop due to the high costs associated with endpoint assaults and cumbersome administrations following threat discovery. Additionally, the advent of trends like BYOD, CYOD, and WFH will probably benefit the market's expansion.
In January 2021, to create the greatest cyber-surveillance technology, METCloud teamed up with Cygilant Inc. With the integration of LogPoint, SentinelOne, and Qualys, this new cooperation will enhance METCloud clients' entire security capabilities. These techniques are possible through quick threat detection, reaction, and mediation as well as a better awareness of a company's security risk and priorities for addressing vulnerabilities. A Security Operations Centre (SOC) in the UK will offer a strong set of services, which offers users specialized help around the clock.
(Source:www.metcloud.com/metcloud-x-cygilant-significant-advances-in-war-against-cybercrime-underway/)
The market for SOC as a service is anticipated to expand due to the sharp increase in the sophistication of cyberattacks and security breaches. Cyber-attacks are efforts to log into a computer or other system without authorization. The SOC-as-a-service employs automation and data science to accelerate detection and send high-confidence alerts, which helps prevent cyberattacks by allowing for quicker detection and response.
For instance, the Microsoft Digital Defense Report from Microsoft, a US-based technology corporation, predicts that in 2020, cyberattacks will be more sophisticated and use new approaches. Comparing the first and second halves of 2020 and 2019, loT threats grew by 35%.
The sharp increase in the sophistication of cyberattacks and security breaches drives the market for SOC as a service.
Businesses employ SOCaaS and third-party service providers when they lack the necessary internal security expertise or are constrained by a limited budget. Many factors must be considered when outsourcing security operations to third-party service providers, such as the security of the third infrastructure, current cyber-security technology, the party's expertise, round-the-clock support, and the decision to move to security as a service in general. Service providers must ensure the infrastructure is safe and up to date to combat the most recent attacks.
The COVID-19 pandemic in 2020 is increasing the need for security services within enterprises to combat numerous cyber dangers and attacks. The COVID-19 pandemic has expedited the digital transformation of the banking, financial services, insurance, healthcare, government, and IT and ITeS sectors. The popularity of remote work has boosted web traffic and cloud traffic, which is why managed security services are booming across all sectors of the economy. The COVID-19 pandemic has significantly negatively influenced almost every industry in the world.
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The market for SOC as a service is fragmented as manufacturers expand their partner ecosystems with integration capabilities to improve their service offerings. The market is seeing a variety of mergers and acquisitions, and businesses are collaborating with other businesses to boost their security operations through ongoing monitoring and early threat identification.
January 2022: A US-based firm called SilverSky which offers managed services for network security and business email, has bought Cygilant for an unknown sum. With this acquisition, SilverSky is anticipated to increase its security posture and improve its cyber defenses.
(Source:www.helpnetsecurity.com/2022/01/11/silversky-cygilant/
June 2021: To speed up threat detection for all Taegis clients, Secureworks Inc. has created a new partner program for its global partner network called the SecureWorks Technology Alliance Partner program. Secureworks Technology Alliance Partners can now add their Taegis integrations to build potent, integrated security solutions.
April 2021: Due to its partnership with SentinelOne, AT&T Cybersecurity Inc. has introduced a managed endpoint security solution. With AT&T Managed Endpoint Security with SentinelOne, endpoint threats are corroborated by using a single software agent that combines antivirus, endpoint detection and response, endpoint protection, and IoT security functions.
Top Companies Market Share in SOC as a Service Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America has the most SOCaaS providers because it is the area of the world most frequently hit by cybersecurity breaches. Protecting sensitive data and enterprise-critical infrastructure has become one of the biggest problems as the world moves toward interconnection and digitization. The demand for better security solutions for these platforms is rising as cloud-based applications, technologies, and platforms are increasingly adopted.
According to Cognitive Market Research, the United States SOCaaS market is expanding due to technological developments, early acceptance of new technologies, and companies' growing requirements for data security. The administration is therefore making the required efforts to address the issue. As the number of cyberattacks in the country rises, U.S. President Donald Trump has set aside more than USD 19 billion for projects in this area. Additionally, by offering stakeholders training programs, the National Institute of Cybersecurity Careers and Studies (NICCS) is proactively raising awareness.
The widespread use of SOC in Europe is being fueled by several market participants who are active there, as well as current security risks. Due to a higher percentage of people in the area having access to the internet, the region has seen an increase in cyber events, cyberattacks, and fresh ransomware detections. As a result, SOC-as-a-service solutions are being included across infrastructures by governments and security companies.
The current report Scope analyzes SOC as a Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global SOC as a Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing SOC as a Service Industry growth. SOC as a Service market has been segmented with the help of its Service Type, Application Enterprise Size, and others. SOC as a Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, due to the numerous government and industry requirements that are put in place to maintain the safety of customer and user data, the preventative services segment led the SOC as a service market share in 2022 and is predicted to continue this trend over the forecast period.
However, due to the surge in cyberattacks on commercial firms and public sector organizations, the detection services category is anticipated to be the highest growing in the coming years.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of SOC as a Service Industry. Request a Free Sample PDF!
Endpoint security is the protection offered for endpoints on enterprise networks, such as desktops, laptops, mobile devices, tablets, barcode readers, and point-of-sale (POS) systems. Viruses, hackers, program manipulation, and memory overflow are popular attack methods on the endpoint layer. Financial, organizational, and employee information is on linked devices and must be safeguarded against data loss and breaches.
Furthermore, the monitoring of an organization's entire IT infrastructure, including the network using tools like access control, network analytics, antivirus software, application security, various types of VPN encryption, network-security firewalls, and others, forms the basis for creating proactive protection, detection, and response measures. As a result, there is a greater need for privacy and security operation services in contemporary organizational environments.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the SOC as a Service market report 2024 Edition by contacting our team.
Using SOCaaS, large enterprises may gather information and security alerts from numerous sources. The organization can perform vulnerability assessment and remediation activities utilizing automated tools and human labor, defining, prioritizing, and guiding standardized Incident Response (IR) operations in line with a standard workflow.
According to Cognitive Market Research, SMEs have a small team and limited financial resources due to the numerous IT difficulties they face in the present climate. SMEs don't adhere to established security protocols, so managed services are becoming increasingly necessary. Cybersecurity is only considered in the case of SMEs after a cyberattack has occurred. It is anticipated that small enterprises will increasingly use SOCaaS.
Rise in Third-party Transaction Frauds to Support Growth of the BFSI Category
The BFSI held the highest share in the market in 2022. BFSI is one of the most enticing businesses for hacktivists or cybercriminals due to several causes, including a rise in third-party transaction frauds, operational and deployment challenges, and state-sponsored attacks. SOC tools aid in lowering fraud and risks in the BFSI sector.
According to Cognitive Market Research, the government and public sector category is anticipated to increase at the fastest rate in the market during the anticipated period. Government and public sector organizations are in charge of handling vital data and information. The adoption of new technology has significantly increased for these companies.
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
As a research analyst, Swasti brings a unique blend of analytical prowess and strategic thinking to the table. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations. Her passion lies in leveraging data-driven approaches to guide decision-making and drive organizational success.
I played a central role in market research endeavors and competitive analysis. I have a demonstrated ability to leverage diverse data sources, employing advanced analytics tools to discern patterns and trends. My collaborative approach facilitated effective communication of insights, fostering a culture of data-driven decision-making within the organization. I am committed to continuous professional development, actively seeking opportunities for skill enhancement through workshops, industry conferences, and staying abreast of emerging trends in research methodologies.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global SOC as a Service Market is witnessing significant growth in the near future.
In 2023, the Prevention Services segment accounted for noticeable share of global SOC as a Service Market and is projected to experience significant growth in the near future.
The Network Security segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Arctic Wolf Networks , Thales and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Service Type | Prevention Services, Detection Services, Incident Response Services |
Application | Network Security, Endpoint Security, Application Security, Database Security, Others |
Enterprise Size | Large Enterprises, SMEs |
Industry Vertical | BFSI, Healthcare, Government and Public Sector, IT and Telecom, Retail, Manufacturing, Others |
List of Competitors | Arctic Wolf Networks, Check Point Software Technologies, Thales, Fortinet Inc., IBM CORPORATION, Verizon, Atos SE, NTT, AT&T, Cloudflare, Inc. |
This chapter will help you gain GLOBAL Market Analysis of SOC as a Service. Further deep in this chapter, you will be able to review Global SOC as a Service Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America SOC as a Service Market Trends North America SOC as a Service Technological Road Map North America SOC as a Service Market Drivers North America SOC as a Service Market Restraints North America SOC as a Service Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Service Type Analysis 2019 -2031, will provide market size split by Service Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Service Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Enterprise Size Analysis 2019 -2031
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Chapter 13 Market Split by Industry Vertical Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global SOC as a Service market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Prevention Services have a significant impact on SOC as a Service market? |
What are the key factors affecting the Prevention Services and Detection Services of SOC as a Service Market? |
What is the CAGR/Growth Rate of Network Security during the forecast period? |
By type, which segment accounted for largest share of the global SOC as a Service Market? |
Which region is expected to dominate the global SOC as a Service Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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