SOC-as-a-Service Market by Component, Service Type, Offering Type, Application Area, Vertical

List of Tables

[194 Pages Report] The SOC-as-a-Service Market size was estimated at USD 7.57 billion in 2023 and expected to reach USD 8.48 billion in 2024, at a CAGR 12.11% to reach USD 16.87 billion by 2030.

The SOC-as-a-Service market offers managed security services such as monitoring, detection, and response to various cyber threats, enabling businesses to outsource their security operations. This service model provides 24/7 security monitoring, threat intelligence gathering, incident response management, and vulnerability assessments. Increasing cybersecurity threats, adoption of IoT and cloud technologies, limited in-house expertise among small-to-medium enterprises (SMEs), and stringent regulatory requirements demanding enhanced solutions such as SOC-as-a-service. However, challenges such as data privacy concerns when outsourcing security operations, lack of standardization among service providers, and high costs may hinder market growth. The amalgamation of artificial intelligence (AI) and machine learning (ML) technologies can enhance threat detection capabilities, reducing false positives and allowing quicker response times to incidents. Developing cost-effective solutions tailored specifically to meet small-to-medium enterprises' unique security requirements and budget constraints is expected to expand the customer base for SOC-as-a-service providers while improving overall efficiency in managing cybersecurity risks.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.57 billion
Estimated Year [2024]	USD 8.48 billion
Forecast Year [2030]	USD 16.87 billion
CAGR (%)	12.11%

Components: Proliferating use of SOC-as-a-service for consulting purposes

Consulting services provide guidance and expert advice to help organizations develop a comprehensive security posture, identify potential risks, and design effective security operations center (SOC) strategies. The services segment comprises managed security service providers (MSSPs) that monitor, manage, and operate SOC functions on behalf of clients. Service providers offer services such as threat intelligence, log management, incident response, vulnerability management, and compliance assistance tailored to each organization's needs. Solutions in the SOC-as-a-service market involve software platforms with integrated tools for improved threat detection and response processes. Support and maintenance services are crucial to ensure the seamless operation of the SOC-as-a-Service components. They offer essential technical assistance such as software updates, patches, troubleshooting, and ongoing monitoring to continuously enhance organizations' security posture. Training and education are imperative for building a skilled workforce capable of managing complex security operations. They offer comprehensive training programs on various aspects of SOC management, ranging from basic principles to advanced technical skills.

Service Type: High implementation of detection services to identify potential threats and vulnerabilities

Detection services focus on monitoring, analyzing, and identifying security incidents in real time through comprehensive surveillance of networks, endpoints, applications, and cloud environments. Incident response service focuses on containing and remediating security breaches after they have occurred while minimizing damage and recovery time for organizations. Incident response service prioritizes rapid response times by deploying specialized teams proficient in digital forensics and incident management. Prevention services are designed to proactively defend organizations against security threats by implementing robust security measures that mitigate risk exposure effectively. These services encompass various tactics such as vulnerability assessments, penetration testing, security awareness training, and continuous policy enforcement.

Application Areas: Growing use of SOC-as-a-Service for network security of IT infrastructure

Database security is crucial to protect sensitive data from unauthorized access, leakage, and potential breaches. The demand for database security solutions provided through SOC-as-a-Service has increased significantly as the volume of data grows exponentially with digital transformation trends. Endpoint security protects devices such as PCs, laptops, smartphones, tablets, and servers from malware attacks and other cyber threats. Endpoint security has become critical with the increase in remote work and bring-your-own-device (BYOD) policies. Network security aims to secure an organization's infrastructure against unauthorized intrusion, data theft, and cyberattacks. Network security becomes essential as businesses increasingly migrate their workloads to the cloud and adopt multi-cloud strategies.

Offering Type: Increasing use of fully managed SOC-as-a-Service for comprehensive protection against cyber threats

Co-Managed or Hybrid SOC-as-a-Service combines the expertise of in-house and external security teams, offering flexibility and control to businesses with established security teams. This approach addresses the growing complexity of cyber threats by augmenting existing security efforts, improving incident response times, and enhancing overall cybersecurity posture. In contrast, Fully Managed SOC-as-a-Service involves outsourcing all security operations to a specialized provider for 24/7 monitoring, threat detection, incident response, and compliance management. Fully Managed SOC-as-a-Service is ideal for small-to-medium-sized enterprises (SMEs) that need more internal resources or expertise.

Regional Insights

The SOC-as-a-service market is witnessing significant growth in the Americas due to rising cybercrime rates, stringent data protection regulations, and increased investment in research and development. In Europe, SOC-as-a-service adoption has been fueled by rising data privacy (GDPR) compliance regulations and a growing number of high-profile cyber attacks. The Middle East & Africa region has witnessed a surge in demand for SOC-as-a-Service due to an alarming rise in cyberattacks targeting critical infrastructures, including oil & gas sectors. Governments have initiated national cybersecurity strategies promoting public-private partnerships to enhance security postures. China, Japan, and India have emerged as significant economies for SOC-as-a-Service with rapid digital transformation, and the need for advanced cybersecurity measures has grown exponentially. Besides, technological advancements and integration of cutting-edge technologies are expected to encourage the adoption of SOC-as-a-Service by the end-use sectors globally.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the SOC-as-a-Service Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the SOC-as-a-Service Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the SOC-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Alert Logic, Arctic Wolf Networks, AT&T Inc., Binary Defense, Critical Start, Inc., ESDS Software Solution, Expel, Inc., Fortinet, Inc., IARM Information Security, IBM Corporation, Netsurion LLC, Proficio, SafeAeon, SOCSoter, Inc., Tata Consultancy Services, and Thales Group.

Market Segmentation & Coverage

This research report categorizes the SOC-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Consulting
- Services
- Solutions
- Support & Maintenance
- Training & Education

Service Type
- Detection Service
- Incident Response Service
- Prevention Service

Offering Type
- Co-Managed or Hybrid
- Fully Managed

Application Area
- Database Security
- Endpoint Security
- Network Security

Vertical
- Banking, Financial Services & Insurance
- Energy & Utilities
- Government & Public Sector
- Healthcare
- IT & Telecom
- Manufacturing
- Retail & Consumer Goods

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the SOC-as-a-Service Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the SOC-as-a-Service Market?

3. What are the technology trends and regulatory frameworks in the SOC-as-a-Service Market?

4. What is the market share of the leading vendors in the SOC-as-a-Service Market?

5. Which modes and strategic moves are suitable for entering the SOC-as-a-Service Market?

Product Code: MRR-380AB250AB31

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing penetration of internet and growing demand for connected devices
  - 5.1.1.2. Rising demand for BYOD and work from home
  - 5.1.1.3. Growing applications in the government and public sector industry verticals
- 5.1.2. Restraints
  - 5.1.2.1. Dearth of skilled professionals
- 5.1.3. Opportunities
  - 5.1.3.1. Deployment of modern technological solutions
  - 5.1.3.2. Increasing adoption of cloud-based solutions across SMEs
- 5.1.4. Challenges
  - 5.1.4.1. Lack of trust among enterprises
5.2. Market Segmentation Analysis
- 5.2.1. Components: Proliferating use of SOC-as-a-service for consulting purposes
- 5.2.2. Service Type: High implementation of detection services to identify potential threats and vulnerabilities
- 5.2.3. Application Areas: Growing use of SOC-as-a-Service for network security of IT infrastructure
- 5.2.4. Offering Type: Increasing use of fully managed SOC-as-a-Service for comprehensive protection against cyber threats
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. SOC-as-a-Service Market, by Component

6.1. Introduction
6.2. Consulting
6.3. Services
6.4. Solutions
6.5. Support & Maintenance
6.6. Training & Education

7. SOC-as-a-Service Market, by Service Type

7.1. Introduction
7.2. Detection Service
7.3. Incident Response Service
7.4. Prevention Service

8. SOC-as-a-Service Market, by Offering Type

8.1. Introduction
8.2. Co-Managed or Hybrid
8.3. Fully Managed

9. SOC-as-a-Service Market, by Application Area

9.1. Introduction
9.2. Database Security
9.3. Endpoint Security
9.4. Network Security

10. SOC-as-a-Service Market, by Vertical

10.1. Introduction
10.2. Banking, Financial Services & Insurance
10.3. Energy & Utilities
10.4. Government & Public Sector
10.5. Healthcare
10.6. IT & Telecom
10.7. Manufacturing
10.8. Retail & Consumer Goods

11. Americas SOC-as-a-Service Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific SOC-as-a-Service Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa SOC-as-a-Service Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. L&T Technology Services joins forces with Palo Alto Networks as MSSP Partner for OT Security Offerings
- 14.3.2. Scybers partners with Netenrich and Google Cloud to deliver NextGen Security Operations Center (SOC) services to Bank, Finance and Hi-Tech Sector
- 14.3.3. Vectra AI and Neutron Engineering Launch State-of-the-Art Security Operations Center as a Service
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio