East Africa SOC as a Service Market Research Report: by Type, Offering Type, Enterprise Size, Application, Industry Vertical - Industry Revenue Estimation and Demand Forecast to 2030

List of Tables

In 2022, the East Africa SOC as a service market reached $67.8 million revenue, which is forecast to grow to $131.5 million by the end of this decade, at an 8.3% CAGR, according to P&S Intelligence.

This is ascribed to the increasing need for the efficient management of digital transactions, rising government support, evolving IT sector, and growing security concerns across companies in Uganda, Kenya, Rwanda, Burundi, and Tanzania.

In addition, the rising uptake of connected devices and expanding retail market are projected to boost the requirement for cloud-delivered security operations centers across East Africa.

Increasing Incidence of Cyberattacks Fueling SOC as a Service Demand:

Cloud computing and the internet facilitate consumers and organizations in buying and selling products online. But, this raises the risk of data breaches and digital frauds.

Globally, cases of cyberattacks have increased by 50% annually in the last few years. In this regard, the growing acceptance of remote working models and the BYOD culture boosts the industry growth.

SOC as a Service Widely Adopted in Large Enterprises:

Large enterprises would dominate the market in 2030, with $114.8 million in revenue. These companies have a huge number of enterprise applications and databases; therefore, they need advanced solutions for detecting, preventing, and effectively tackling cyberattacks.

Furthermore, MNCs with multiple streams of revenue and large corporate networks opt for SOC as a service solutions to comply with the government mandates for customer data protection.

High Susceptibility to Cyberattacks Driving Solution Demand in BFSI Sector:

On the basis of end user, the market is dominated by the BFSI sector, because it lures cybercriminals due to the very nature of its business. On an average, on the first working day, a finance professional in an MNC can access around 11 million digital files.

The BFSI sector is the target of 70% of the cyberattacks. Moreover, more than 30 billion accounts could experience a breach by 2030. Financial organizations are at a perpetual risk of phishing attacks, wherein each data breach leads to losses of about $6 million.

Kenya Is Largest User of SOC as a Service in East Africa:

The market in Kenya is projected to generate $59.1 million revenue in 2030, compared to $29.4 million in 2022, witnessing an 8.8% CAGR. It is ascribed to the growing adoption of cloud-based SOCs in the IT and telecom, retail, BFSI, and healthcare industries and supportive laws for data protection in the nation, including the Data Protection Act 2019.

Product Code: 12482

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit
- 1.4.1 Value
1.5 Market Size Breakdown by Segment
- 1.5.1 Market Segmentation by Type
- 1.5.2 Market Segmentation by Offering Type
- 1.5.3 Market Segmentation by Enterprise Size
- 1.5.4 Market Segmentation by Application
- 1.5.5 Market Segmentation by Industry Vertical
- 1.5.6 Market Segmentation by Country
1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
- 2.1.1 Paid
- 2.1.2 Unpaid
- 2.1.3 P&S Intelligence Database
2.2 Primary Research
- 2.2.1 Breakdown of Primary Research, by Industry Participant
- 2.2.2 Breakdown of Primary Research, by Designation
- 2.2.3 Breakdown of Primary Research, by Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

4.1 World SOC as a Service Market
4.2 Middle East & Africa Cyber Security Market
4.3 Increasing Need for Log Management

Chapter 5. Definition of Market Segments

5.1 By Type
- 5.1.1 Detection Service
- 5.1.2 Prevention Service
- 5.1.3 Incident Response Service
5.2 By Offering Type
- 5.2.1 Co-Managed
- 5.2.2 Fully Managed
5.3 By Application
- 5.3.1 Endpoint Security
- 5.3.2 Network Security
- 5.3.3 Application Security
- 5.3.4 Cloud Security
5.4 By Enterprise Size
- 5.4.1 Large Enterprises
- 5.4.2 SMEs
5.5 By Industry Vertical
- 5.5.1 BFSI
- 5.5.2 Government and Public Sector
- 5.5.3 IT and Telecom
- 5.5.4 Energy and Utilities
- 5.5.5 Healthcare
- 5.5.6 Retail
- 5.5.7 Manufacturing

Chapter 6. Industry Outlook

6.1 Market Dynamics
- 6.1.1 Trends
  - 6.1.1.1 Optimization of services for the detection and mitigation of cyber threats
  - 6.1.1.2 Cloud-based applications and services are widely being adopted
- 6.1.2 Drivers
  - 6.1.2.1 Growing internet penetration
  - 6.1.2.2 Increase in security breaches and cyberattacks
  - 6.1.2.3 Regulation and data protection guidelines for cyber defense
- 6.1.3 Impact Analysis of Drivers on Market Forecast
- 6.1.4 Restraints
  - 6.1.4.1 Enterprises are skeptical about allowing complete control of their system security needs to SOCaaS providers
  - 6.1.4.2 Lack of expertise in cybersecurity solutions
- 6.1.5 Impact Analysis of Restraints on Market Forecast
6.2 Impact of COVID-19
6.3 Value Chain Analysis
- 6.3.1 Type I
  - 6.3.1.1 Software providers
  - 6.3.1.2 SOC as a service providers
  - 6.3.1.3 End users (clients)
- 6.3.2 Type II
6.4 Porter's Five Forces Analysis
- 6.4.1 Bargaining Power of Buyers
- 6.4.2 Bargaining Power of Suppliers
- 6.4.3 Intensity of Rivalry
- 6.4.4 Threat of New Entrants
- 6.4.5 Threat of Substitutes
6.5 Factors Pushing Demand of SOC as a Service
- 6.5.1 Security Requirements
- 6.5.2 Cost-Efficiency
- 6.5.3 Compliance
6.6 Barriers and Challenges

Chapter 7. East Africa Market Size and Forecast

7.1 Overview
7.2 Market Revenue, by Type (2017-2030)
7.3 Market Revenue, by Offering Type (2017-2030)
7.4 Market Revenue, by Enterprise Size (2017-2030)
7.5 Market Revenue, by Application (2017-2030)
7.6 Market Revenue, by Industry Vertical (2017-2030)
7.7 Market Revenue, by Country (2017-2030)

Chapter 8. Kenya Market Size and Forecast

8.1 Overview
8.2 Market Revenue, by Type (2017-2030)
8.3 Market Revenue, by Offering Type (2017-2030)
8.4 Market Revenue, by Enterprise Size (2017-2030)
8.5 Market Revenue, by Application (2017-2030)
8.6 Market Revenue, by Industry Vertical (2017-2030)

Chapter 9. Competitive Landscape

9.1 List of Market Players
9.2 Recent Strategic Developments of Key Players

Chapter 10. Company Profiles

10.1 Dimension Data
- 10.1.1 Business Overview
- 10.1.2 Product and Service Offerings
10.2 Serianu Limited
- 10.2.1 Business Overview
- 10.2.2 Product and Service Offerings
10.3 Safaricom PLC
- 10.3.1 Business Overview
- 10.3.2 Product and Service Offerings
- 10.3.3 Key Financial Summary
10.4 MFI Document Solutions Ltd.
- 10.4.1 Business Overview
- 10.4.2 Product and Service Offerings
10.5 Liquid Intelligent Technologies Limited
- 10.5.1 Business Overview
- 10.5.2 Product and Service Offerings
10.6 Secur
- 10.6.1 Business Overview
- 10.6.2 Product and Service Offerings
10.7 Tai SOC
- 10.7.1 Business Overview
- 10.7.2 Product and Service Offerings
10.8 AdcareIT
- 10.8.1 Business Overview
- 10.8.2 Product and Service Offerings
10.9 SMTP Africa Servers Ltd.
- 10.9.1 Business Overview
- 10.9.2 Product and Service Offerings
10.1 Simba Technology Ltd.
- 10.10.1 Business Overview
- 10.10.2 Product and Service Offerings
10.11 East African Data Handlers (K) LTD.
- 10.11.1 Business Overview
- 10.11.2 Product and Service Offerings
10.12 CyberSOC Africa
- 10.12.1 Business Overview
- 10.12.2 Product and Service Offerings
10.13 East Africa Hi Tech Solutions Limited
- 10.13.1 Business Overview
- 10.13.2 Product and Service Offerings
10.14 Cyber-Africa LTD.
- 10.14.1 Business Overview
- 10.14.2 Product and Service Offerings
10.15 Cyberteq
- 10.15.1 Business Overview
- 10.15.2 Product and Service Offerings
10.16 Enovise
- 10.16.1 Business Overview
- 10.16.2 Product and Service Offerings

Chapter 11. Analyst Overview`

Chapter 12. Appendix

12.1 Sources and References
12.2 Related Reports