SOC as a Service Global Market Report 2024

Description

“SOC as a Service Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on soc as a service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for soc as a service? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The soc as a service market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Service Type: Vulnerability Assessment And Threat Detection; Incident Response
2) By Component: Professional Services; Solution
3) By Offering Type: Fully Managed; Co-Managed
4) By Application: Endpoint Security; Network Security; Cloud Security; Other Applications
5) By Verticals: Banking, Financial Services And Insurance (BFSI); Information Technology (IT) And Information Technology Enabled Services (ITeS); Manufacturing; Telecommunications; Government And Public Sector; Healthcare And Life Sciences; Transportation And Logistics; Energy And Utilities; Other Verticals
Companies Mentioned: AT&T Inc.; International Business Machines Corporation.; Nippon Telegraph and Telephone Corporation.; Verizon Communications Inc.; ConnectWise LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A Security Operations Center (SOC) is a team within a company responsible for researching, identifying, preventing, and responding to cyber threats. SOC as a service involves continuous monitoring of security, utilizing automation and data science to enhance detection and deliver high-confidence alerts. This service aims to alleviate the workload on in-house security teams.

Services provided by SOC as a service include vulnerability assessment, threat detection, and incident response. Vulnerability assessment entails a systematic review of security weaknesses in an information system, while threat detection involves analyzing the entire safety ecosystem to identify any hostile activity that could compromise the network. Components of SOC as a service include professional services and solutions, offered in fully managed and co-managed formats. Applications of SOC services span endpoint security, network security, cloud security, and other areas. Various industry verticals benefit from SOC as a service, including BFSI, IT and ITeS, manufacturing, telecommunications, government and the public sector, healthcare and life sciences, transportation and logistics, energy and utilities, as well as other sectors.

The SOC as a service market research report is one of a series of new reports from The Business Research Company that provides SOC as a service market statistic, including SOC as a service industry global market size, regional shares, competitors with a SOC as a service market share, detailed SOC as a service market segments, market trends and opportunities, and any further data you may need to thrive in the SOC as a service industry. This SOC as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The soc as a service market size has grown strongly in recent years. It will grow from $4. 05 billion in 2023 to $4. 43 billion in 2024 at a compound annual growth rate (CAGR) of 9. 4%. The growth observed in the historical period can be attributed to several factors, including an increase in cybersecurity threats, a lack of in-house security expertise, compliance and regulatory requirements, the proliferation of advanced persistent threats (APTs), and a rising volume of security alerts.

The soc as a service market size is expected to see rapid growth in the next few years. It will grow to $6. 83 billion in 2028 at a compound annual growth rate (CAGR) of 11. 4%. The anticipated growth in the forecast period can be attributed to several factors, including the growing sophistication of cyber attacks, the integration of artificial intelligence in SOC services, the expansion of cloud-based security solutions, increased adoption by small and medium enterprises (SMEs), and an emphasis on threat intelligence and information sharing. Major trends expected in the forecast period include automation and orchestration in SOC operations, continuous monitoring and incident response, the adoption of zero trust security models, the provision of Managed Detection and Response (MDR) services, and a focus on User and Entity Behavior Analytics (UEBA) in SOC.

The substantial increase in the sophistication of cyber-attacks and security breaches is poised to drive the growth of the SOC-as-a-service market in the future. Cyber-attacks involve unauthorized attempts to access computers or systems, and SOC-as-a-service plays a crucial role in preventing such attacks by ensuring rapid detection and remediation. Leveraging automation and data science, SOC-as-a-service enhances detection speed and delivers alerts with high confidence. Notably, Checkpoint reported a 38% global increase in cyber-attacks in 2022 compared to 2021. Additionally, the ESET Threat Report T2 2021 highlighted a 7. 3% rise in email-based attacks, particularly phishing campaigns designed to deceive individuals and steal financial resources. Hence, the significant growth in the sophistication of cyber threats and security breaches is a key driver for the SOC-as-a-service market.

The transition toward remote work is expected to fuel the growth of the security operations center (SOC) market. Remote work, where employees carry out their tasks from locations outside the traditional office, relies on digital tools to maintain connectivity. In this context, a Security Operations Center ensures the protection of digital assets and sensitive data by monitoring and responding to security threats from diverse locations. A survey conducted in 2022 by FlexJobs' Career Pulse indicated a strong preference for full-time remote work among 65% of respondents, while 32% expressed a desire for a hybrid work arrangement. This high percentage, totaling 97%, reflects a widespread desire for remote work options. Consequently, the shift towards remote work is a significant driver for the security operations center market.

The notable trend is the focus on product innovations by major market players to enhance cybersecurity and combat emerging threats. For example, Proficio, a cybersecurity service provider based in India, introduced a detection and response service in April 2022. This service aims to address identity-based threats by combining advanced technology with human-led investigations, enhancing visibility, expediting responses, and minimizing ransomware.

Leading companies in the SOC-as-a-service market are establishing innovative centers, such as Security Operation Centers (SOCs), to expand the reach of their global cybersecurity services. SecureOps, an IT service management company based in the Philippines, launched a new Security Operation Center in December 2022. This facility is dedicated to providing premier cybersecurity protection and services, addressing the escalating cyber threats in Asia and offering a comprehensive range of cybersecurity solutions. The initiative is driven by factors such as the COVID-19 pandemic and increased digital reliance.

In January 2022, SilverSky, a U. S. -based managed services provider for business email and network security, acquired Cygilant to enhance its cyber defenses and fortify its security posture. Cygilant, a U. S. -based company specializing in cybersecurity-as-a-service for mid-sized organizations, was acquired for an undisclosed amount.

Major companies operating in the in the soc as a service market report are AT&T Inc., International Business Machines Corporation., Nippon Telegraph and Telephone Corporation., Verizon Communications Inc., ConnectWise LLC, Alert Logic Inc., Arctic Wolf Networks Inc., CrowdStrike Holdings Inc., Cybereason Inc., Darktrace Limited, Exabeam Inc., Fortinet Inc., F-Secure Corporation, McAfee Corp., Palo Alto Networks Inc., Rapid7 Inc., RSA Security LLC., Dell Technologies Company, SentinelOne Inc., Sumo Logic Inc., Trustwave Holdings Inc., Varonis Systems Inc., Zscaler Inc., Cynet Ltd., Netsurion LLC, Proficio Inc., Expel Inc., CYDERES Inc., Securonix Inc., Vectra AI Inc.

North America was the largest region in the SOC as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soc as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the soc as a service market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The SOC as a service market consists of revenues earned by entities by providing security monitoring, threat detection, vulnerability management, endpoint protection, threat intelligence. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10600

1. Executive Summary

2. SOC as a Service Market Characteristics

3. SOC as a Service Market Trends And Strategies

4. SOC as a Service Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global SOC as a Service Market Size and Growth

5.1. Global SOC as a Service Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global SOC as a Service Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global SOC as a Service Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. SOC as a Service Market Segmentation

6.1. Global SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Vulnerability Assessment And Threat Detection
Incident Response
6.2. Global SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Professional Services
Solution
6.3. Global SOC as a Service Market, Segmentation By Offering Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Fully Managed
Co-Managed
6. 4. Global SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Endpoint Security
Network Security
Cloud Security
Other Applications
6. 5. Global SOC as a Service Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking, Financial Services And Insurance (BFSI)
Information Technology (IT) And Information Technology Enabled Services (ITeS)
Manufacturing
Telecommunications
Government And Public Sector
Healthcare And Life Sciences
Transportation And Logistics
Energy And Utilities
Other Verticals

7. SOC as a Service Market Regional And Country Analysis

7.1. Global SOC as a Service Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global SOC as a Service Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific SOC as a Service Market

8.1. Asia-Pacific SOC as a Service Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China SOC as a Service Market

9.1. China SOC as a Service Market Overview
9.2. China SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India SOC as a Service Market

10.1. India SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan SOC as a Service Market

11.1. Japan SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia SOC as a Service Market

12.1. Australia SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia SOC as a Service Market

13.1. Indonesia SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea SOC as a Service Market

14.1. South Korea SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe SOC as a Service Market

15.1. Western Europe SOC as a Service Market Overview
15.2. Western Europe SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK SOC as a Service Market

16.1. UK SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany SOC as a Service Market

17.1. Germany SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France SOC as a Service Market

18. 5. France SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy SOC as a Service Market

19. 9. Italy SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain SOC as a Service Market

20.13. Spain SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe SOC as a Service Market

21.1. Eastern Europe SOC as a Service Market Overview
21.2. Eastern Europe SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia SOC as a Service Market

22.1. Russia SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America SOC as a Service Market

23.1. North America SOC as a Service Market Overview
23.2. North America SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA SOC as a Service Market

24.1. USA SOC as a Service Market Overview
24.2. USA SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada SOC as a Service Market

25.1. Canada SOC as a Service Market Overview
25.2. Canada SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America SOC as a Service Market

26.1. South America SOC as a Service Market Overview
26.2. South America SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil SOC as a Service Market

27.1. Brazil SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East SOC as a Service Market

28.1. Middle East SOC as a Service Market Overview
28.2. Middle East SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa SOC as a Service Market

29.1. Africa SOC as a Service Market Overview
29.2. Africa SOC as a Service Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa SOC as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa SOC as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. SOC as a Service Market Competitive Landscape And Company Profiles

30.1. SOC as a Service Market Competitive Landscape
30.2. SOC as a Service Market Company Profiles
- 30.2.1. AT&T Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. International Business Machines Corporation.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Nippon Telegraph and Telephone Corporation.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Verizon Communications Inc.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. ConnectWise LLC
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global SOC as a Service Market Competitive Benchmarking

32. Global SOC as a Service Market Competitive Dashboard

33. Key Mergers And Acquisitions In The SOC as a Service Market

34. SOC as a Service Market Future Outlook and Potential Analysis

34.1 SOC as a Service Market In 2028 - Countries Offering Most New Opportunities
34.2 SOC as a Service Market In 2028 - Segments Offering Most New Opportunities
34. 3 SOC as a Service Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer