SOC as a Service Market: Current Analysis and Forecast (2023-2030)
Emphasis on By Component (Services, And Solutions); By Service type (Prevention Service, Detection Service, And Incident Response Service); By Applications (Network Security, Endpoint Security, Application Security, Database Security, And Others) and Region/Country
The SOC as a Service Market was valued at 4.9 billion in 2022 and is expected to grow at a steady rate of around 10.3% in the forecasted period (2023-2030) owing to the increasing availability of data, and advances in supercomputing and cloud computing technology. Security Operations Center (SOC) is a centralized hub equipped with software and technologies that focus on identifying, monitoring, and responding to cybersecurity threats and incidents within an organization. It acts as the nerve center for cybersecurity, constantly analyzing the vast amount of data generated by an enterprise’s networks, systems, and applications. The SOC software market encompasses the products and solutions designed to facilitate these critical functions, helping companies safeguard their digital assets, detect breaches or vulnerabilities, and respond swiftly to protect their reputation, customer trust, and overall business operations in an increasingly complex and ever-evolving digital landscape.
Some of the major players operating in the market include SecureWorks Inc.; AT & T Cybersecurity Inc.; Capgemini SE; Cygilant Inc.; BlackStratus Inc.; Cloudflare, Inc.; IBM CORPORATION; Arctic Wolf Networks; Fortinet Inc.; Thales.
Insights Presented in the Report
“Among components, the service segment is currently the leading segment of the market during forecast period.”
Based on components, the market is bifurcated into services, and solutions. Among these, the market has witnessed a notable shift in recent years, with a growing emphasis on services as a key driver of its expansion. This transformation is primarily attributed to the increasing recognition of the need for outsourced and expert-driven security solutions. Organizations are increasingly turning to SOC as a Service provider to bolster their cybersecurity posture, given the escalating threats and complexities in the digital landscape. As the demand for continuous, proactive threat detection and rapid response capabilities continues to rise, the services segment of the SOC as a Service market is poised for sustained growth, allowing organizations to effectively safeguard their digital assets in an ever-evolving threat landscape.
“Amongst applications, network security to witness significant market growth during the forecast period.”
Based on applications, the market is categorized into network security, endpoint security, application security, database security, and others. Among these, the network security segment is experiencing substantial growth, adoption, and demand because networks are the lifeblood of any organization’s digital infrastructure, and they represent a primary target for cyber threats. With the proliferation of remote work, cloud computing, and IoT devices, the attack surface has expanded, necessitating robust network security measures. Additionally, compliance requirements and data protection regulations are driving companies to bolster their network security, therefore, adding value to the market.
SOC as a Service Market Report Coverage
“North America to hold a significant share in the market.”
The SOC as a Service market in North America has been experiencing robust growth, driven by the increasing need for comprehensive cybersecurity solutions and services. According to government data, the United States, for instance, has witnessed a rising number of cyber threats and breaches, making cybersecurity a top priority. In response to this, both federal and state governments have allocated substantial budgets for enhancing cybersecurity measures. Additionally, regulatory frameworks such as the NIST Cybersecurity Framework have encouraged businesses to invest in advanced security services, including SOC as a Service, to protect critical infrastructure and sensitive data. The market growth is further fueled by the extensive adoption of cloud computing, the Internet of Things (IoT), and remote work, all of which expand the attack surface for cyber threats. Moreover, organizations in North America are increasingly outsourcing their security operations to SOC as a Service provider to benefit from expert monitoring, threat detection, and incident response. Also, the convenience and cost-effectiveness of outsourcing these services have also contributed to the market’s expansion. As North America continues to be a prime target for cyberattacks, the SOC as a Service market is poised for sustained growth, with a focus on providing cutting-edge security solutions to safeguard critical digital assets and uphold data privacy and integrity.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global SOC as a Service Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the SOC as a Service Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global SOC as a Service Market were the three major steps undertaken to create and analyze the adoption of SOC as a Service in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global SOC as a Service Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the SOC as a Service Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the SOC as a Service Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, service type, and applications. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the SOC as a Service Market. Further, we conducted factor analysis using dependent and independent variables such as various components, service type, and applications SOC as a Service. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the SOC as a Service Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global SOC as a Service Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the SOC as a Service Market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global SOC as a Service Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global SOC as a Service Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, service type, and applications in the global SOC as a Service Market.
The main objective of the Global SOC as a Service Market Study
The current & future market trends of the global SOC as a Service Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the SOC as a Service Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of component, service type, and applications.
- Define and analysis of the regulatory framework for the SOC as a Service industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the SOC as a Service Market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profile of the SOC as a Service Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the global SOC as a Service Market?
Q2: What are the driving factors for the growth of the global SOC as a Service Market?
Q3: Which segment has the largest share of the global SOC as a Service Market by End-Users?
Q4: Which region will dominate the global SOC as a Service Market?
Q5: Who are the key players operating in the global SOC as a Service Market?
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