Global SOC as a Service Market Report and Forecast 2024-2032

Global SOC as a Service Market Report and Forecast 2024-2032

Global SOC as a Service Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global SOC as a service market reached a value of USD 5.86 billion in 2023. Aided by the escalating need for comprehensive security monitoring, threat detection, and incident response capabilities, the market is projected to further grow at a CAGR of 10.7% between 2024 and 2032 to reach a value of USD 14.88 billion by 2032.

SOC as a service offers a scalable, flexible solution for businesses seeking to enhance their cybersecurity posture without the substantial investments required to build and maintain an in-house SOC. By outsourcing security operations to specialised service providers, organisations gain access to expert knowledge, advanced technologies, and continuous monitoring, ensuring a proactive stance against cyber threats.

According to the SOC as a service market analysis, the rise in cyber-attacks, including ransomware, phishing, and advanced persistent threats (APTs), underscores the need for continuous monitoring and real-time threat detection, capabilities central to SOC as a sservice offering.

With stringent regulatory frameworks like GDPR, HIPAA, and others, organisations are mandated to uphold high security and data protection standards. SOC as a service aid in achieving compliance by providing detailed security insights and compliance reporting.

Establishing an in-house SOC involves significant capital expenditure and operational costs. SOC as a Service presents a cost-effective alternative, offering subscription-based models that reduce upfront investments and operational complexities. Innovations in machine learning, artificial intelligence, and security automation enhance the efficacy of SOC as a Service, enabling sophisticated threat detection, analysis, and response mechanisms.

The SOC as a service market growth is bolstered by the rising demand from wide range of industries, including finance, healthcare, retail, and government, each with unique security needs and challenges. Small and medium-sized enterprises (SMEs) represent a significant market segment, drawn to SOC as a Service for its scalability and the opportunity to attain enterprise-level security capabilities.

North America leads the market, attributed to its advanced IT infrastructure, robust regulatory environment, and heightened awareness of cybersecurity risks. However, Asia-Pacific is expected to witness rapid growth, driven by digital transformation initiatives, increasing cyber-attacks, and growing awareness of cybersecurity solutions.

Looking ahead, the SOC as a service market is set to surge, with emerging trends shaping its trajectory. The integration of advanced analytics, AI, and machine learning will further enhance threat detection and response capabilities. Additionally, the convergence of SOC as a service with cloud security and privacy-preserving technologies will address the complexities of securing cloud environments and sensitive data.

Market Segmentation

The market can be divided based on service type, application, enterprise size, industry vertical, and region.

Market Breakup by Type

• Threat Detection and Incident Response
• Managed SIEM and Log Management
• Vulnerability Scanning and Assessment
• GRC

Market Breakup by Application

• Application Security
• Network Security
• End Point Security
• Cloud Security

Market Breakup by Enterprise Size

• Small and Medium Enterprises
• Large Enterprises

Market Breakup by Industry Vertical

• Government and Public Sector
• BFSI
• IT and Telecom
• Healthcare
• Government
• Retail
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global SOC as a service market. Some of the major players explored in the report by Expert Market Research are as follows:

• AT&T Inc.
• Thales SA
• AIRBUS SE
• Verizon Communications Inc.
• Cloudflare, Inc.
• Fortinet, Inc.
• Atos SE
• Arctic Wolf Networks, Inc.
• Check Point Software Technologies Ltd.
• ProSOC, Inc. (Proficio)
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.