Global SOC as a Service Market to Reach $7.6 Billion by 2030
The global market for SOC as a Service estimated at US$1.5 Billion in the year 2023, is expected to reach US$7.6 Billion by 2030, growing at a CAGR of 25.6% over the period 2023-2030. SOC as a Service Solutions, one of the segments analyzed in the report, is expected to record 22.5% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the SOC as a Service Services segment is estimated at 29.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $492.5 Million, While China is Forecast to Grow at 25% CAGR
The SOC as a Service market in the U.S. is estimated at US$492.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 25% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 22.6% and 21.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 17.7% CAGR.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook