Security Operations Center as a Service Market Revenue Analysis & Region and Country Forecast

Rapid advancements in IT security and increasing remote working owing to COVID-19 are key factors driving market revenue growth

The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Security Operations Center as a Service Market. The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans.

The global Security Operations Center (SOC) as a Service market size was USD 5.55 Billion in 2021 and is expected to register a revenue CAGR of 16.52% during the forecast period, according to latest analysis by Emergen Research. Increasing investment by major companies is projected to support market revenue growth between 2021 and 2030. For instance, on 19 December 2022, the USD 1.3 billion Series C investment was headed by Fenbushi Capital U.S., according to an announcement by the Singapore-based Amber Group, a leading global provider of digital assets. Family offices and other investors with experience in cryptocurrencies also participated in the most recent round. 

The frequency of cyberattacks has skyrocketed. These attacks target essential infrastructure as well as businesses, governments, and single people as well as single people. Due to the sophistication of assaults and their overwhelming volume, existing solutions such as antivirus, firewalls, Network-based Intrusion Detection System (NIDS), and Network Intrusion Protection System (NIPS) are no longer enough.

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As well as new entrants in the Security Operations Center as a Service market. It focuses on the recent mergers acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.

Some major companies in the global Security Operations Center (SOC) as a service market report include IBM, ATT Intellectual Property, Verizon, NTT Group, ConnectWise, LLC, Proficio, Tata Consultancy Services, Atos SE, Check Point Software Technologies Ltd., Cloudflare, Inc., Arctic Wolf Networks Inc., and Musarubra US LLC.

Market Scope:

One of the report’s central components is the broad Security Operations Center as a Service market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production consumption rates, demand supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.

Reports Highlights:

  • Small and medium enterprises segment is expected to register the largest revenue CAGR due to technology improvements and application evolution, organizational networks are growing over time.
  • IT and telecom segment is expected to register rapid revenue CAGR due to rising demand for SOC as a service to increase data security and backup. Security Information and Event Management (SIEM) systems are frequently included in the environments of IT industries to ingest and correlate alarms and logs produced by network devices, security devices, and endpoints, which is driving revenue growth of the segment.
  • Market in North America accounted for the largest revenue share in 2021 due to rising incidences of cyber-attacks. To prevent this, SOC as a service helps businesses improve their response efforts in the event of cyberattacks based on an assessment of their risk posture and preventative measures.

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This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Security Operations Center as a Service sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

Emergen Research has segmented the global Security Operations Center (SOC) as a service market on the basis of component, organization size, type, offering, application, end-use, and region:

·         Component Outlook (Revenue, USD Billion; 2019–2030)

  • Solution
  • Professional Services

·         Organization Size Outlook (Revenue, USD Billion; 2019–2030)

  • Large Enterprises
  • Small and Medium Enterprises (SMEs)

·         Type Outlook (Revenue, USD Billion; 2019–2030)

  • Prevention
  • Detection
  • Incident Response

·         Offering Outlook (Revenue, USD Billion; 2019–2030)

  • Fully
  • Co-Managed

·         Application Outlook (Revenue, USD Billion; 2019–2030)

  • Application Security
  • Network Security
  • Endpoint Security
  • Cloud Security
  • Others

·         End-Use Outlook (Revenue, USD Billion; 2019–2030)

  • Banking, Financial Services, and Insurance (BFSI)
  • IT and Telecom
  • Media Entertainment
  • Healthcare
  • Education
  • Government Organizations
  • Others

Regional Bifurcation of the Security Operations Center as a Service Market Includes:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Radical Features of the Security Operations Center as a Service Market Report:

  • The report encompasses Security Operations Center as a Service market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
  • An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
  • Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
  • Supply chain analysis along with technological advancements offered in the report
  • The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Security Operations Center as a Service industry

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