Market Overview:
The global SOC as a service market is expected to grow at a CAGR of 16.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for managed security services and the growing need for cybersecurity solutions across different industries. The market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into prevention, detection, and incident response services. Detection services are expected to grow at a higher CAGR during the forecast period as compared to other segments due to an increase in cyberattacks across different industries.
Product Definition:
SOC as a Service is the delivery of security operations center (SOC) services through a cloud-based or hosted model. The SOC as a Service provider offers customers the ability to outsource all or part of their security operations, including 24x7 monitoring and analysis of events, incident response management, and access to expert resources.
The importance of SOC as a Service is that it can help organizations reduce their operational costs while still obtaining the benefits of having a dedicated SOC. It can also help organizations that may not have the staff or expertise necessary to operate their own SOC.
Prevention:
Prevention is a new term in the security market. It's an umbrella term for several technologies and practices that help secure an application from threats before they occur. Prevention includes proactive detection, prevention, response, and recovery from cyber-attacks or security incidents. The prevention as a service (PaaS) model allows enterprises to pay only for what they use; it reduces cost and increases predictability while improving resiliency and agility across IT infrastructure.
Detection:
Detection and it's usage in the market as a service is used to detect security events or potential threats. It monitors network traffic, system calls, kernel data and processes for detecting security events such as buffer overflows, format string errors or other programming flaws in applications that may lead to malicious attacks on the systems.
Application Insights:
The global SOC as a service market is segmented by application into Banking, Financial Services, and Insurance (BFSI), healthcare, education, retail and IT & telecom industries. In 2017 the BFSI sector dominated the market with over 40% of the overall revenue share. The growth can be attributed to factors such as rising number of cyberattacks that have led to increase in demand for robust security solutions across banks and other financial institutions.
The healthcare industry is anticipated to witness significant growth over the forecast period owing to increasing breaches in this sector resulting in exposure of sensitive data which needs strong security solutions. Furthermore, growing awareness among hospitals regarding safety protocols that are followed while handling medical records will also boost demand for these services from 2018-2030.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The U.S.-based MNCs are increasingly outsourcing their security needs to third-party service providers, thereby reducing their operational costs and enhancing their productivity. Moreover, these companies are focusing on risk assessment and management through an integrated approach across all business units as a part of overall digital transformation initiatives.
Asia Pacific is expected to be the fastest-growing region over the forecast period owing to increasing government regulations aimed at improving information sharing among organizations and establishing a robust defense against cyberattacks by leveraging cloud services offered by SOC as a service providers in this region.
Growth Factors:
- Increased demand for cloud-based security solutions: The SOC as a Service market is expected to benefit from the increasing demand for cloud-based security solutions. Cloud-based security solutions are more efficient and cost effective than traditional on-premises security solutions, and this is driving their adoption among organizations of all sizes.
- Proliferation of mobile devices and BYOD policies: The proliferation of mobile devices and the increasing trend of BYOD (Bring Your Own Device) policies are contributing to the growth of the SOC as a Service market. Mobile devices are becoming increasingly vulnerable to cyberattacks, and organizations need robust security solutions to protect them. SOC as a Service provides an efficient and cost effective way to secure mobile devices and networks.
- Growing awareness about cybersecurity threats: The number of cyberattacks is growing at an alarming rate, with hackers targeting businesses of all sizes across all industries. This has led to a growing awareness about cybersecurity threats among business owners and decision makers, which is driving the adoption of SOC as a Service Solutions worldwide .
Scope Of The Report
Report Attributes
Report Details
Report Title
SOC as a Service Market Research Report
By Type
Prevention, Detection, Incident Response
By Application
BFSI, Healthcare, Education, Retail, IT and Telecom, Logistics and Transportation, Manufacturing, Others
By Companies
Proficio, BlackStratus, Thales e-Security, Cygilant, Alert Logic, Arctic Wolf Networks, Netmagic Solutions, ESDS Software Solution, AQM Technologies, Suma Soft
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global SOC as a Service Market Report Segments:
The global SOC as a Service market is segmented on the basis of:
Types
Prevention, Detection, Incident Response
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Healthcare, Education, Retail, IT and Telecom, Logistics and Transportation, Manufacturing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Proficio
- BlackStratus
- Thales e-Security
- Cygilant
- Alert Logic
- Arctic Wolf Networks
- Netmagic Solutions
- ESDS Software Solution
- AQM Technologies
- Suma Soft
Highlights of The SOC as a Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Prevention
- Detection
- Incident Response
- By Application:
- BFSI
- Healthcare
- Education
- Retail
- IT and Telecom
- Logistics and Transportation
- Manufacturing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the SOC as a Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
SOC as a Service (SaaS) is a model of delivering software that allows organizations to access and use the software from anywhere, at any time.
Some of the major players in the soc as a service market are Proficio, BlackStratus, Thales e-Security, Cygilant, Alert Logic, Arctic Wolf Networks, Netmagic Solutions, ESDS Software Solution, AQM Technologies, Suma Soft.
The soc as a service market is expected to grow at a compound annual growth rate of 16.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 SOC as a Service Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 SOC as a Service Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 SOC as a Service Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the SOC as a Service Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global SOC as a Service Market Size & Forecast, 2018-2028 4.5.1 SOC as a Service Market Size and Y-o-Y Growth 4.5.2 SOC as a Service Market Absolute $ Opportunity
Chapter 5 Global SOC as a Service Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 SOC as a Service Market Size Forecast by Type
5.2.1 Prevention
5.2.2 Detection
5.2.3 Incident Response
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global SOC as a Service Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 SOC as a Service Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Healthcare
6.2.3 Education
6.2.4 Retail
6.2.5 IT and Telecom
6.2.6 Logistics and Transportation
6.2.7 Manufacturing
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global SOC as a Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 SOC as a Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America SOC as a Service Analysis and Forecast
9.1 Introduction
9.2 North America SOC as a Service Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America SOC as a Service Market Size Forecast by Type
9.6.1 Prevention
9.6.2 Detection
9.6.3 Incident Response
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America SOC as a Service Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Healthcare
9.10.3 Education
9.10.4 Retail
9.10.5 IT and Telecom
9.10.6 Logistics and Transportation
9.10.7 Manufacturing
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe SOC as a Service Analysis and Forecast
10.1 Introduction
10.2 Europe SOC as a Service Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe SOC as a Service Market Size Forecast by Type
10.6.1 Prevention
10.6.2 Detection
10.6.3 Incident Response
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe SOC as a Service Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Healthcare
10.10.3 Education
10.10.4 Retail
10.10.5 IT and Telecom
10.10.6 Logistics and Transportation
10.10.7 Manufacturing
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific SOC as a Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific SOC as a Service Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific SOC as a Service Market Size Forecast by Type
11.6.1 Prevention
11.6.2 Detection
11.6.3 Incident Response
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific SOC as a Service Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Healthcare
11.10.3 Education
11.10.4 Retail
11.10.5 IT and Telecom
11.10.6 Logistics and Transportation
11.10.7 Manufacturing
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America SOC as a Service Analysis and Forecast
12.1 Introduction
12.2 Latin America SOC as a Service Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America SOC as a Service Market Size Forecast by Type
12.6.1 Prevention
12.6.2 Detection
12.6.3 Incident Response
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America SOC as a Service Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Healthcare
12.10.3 Education
12.10.4 Retail
12.10.5 IT and Telecom
12.10.6 Logistics and Transportation
12.10.7 Manufacturing
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) SOC as a Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) SOC as a Service Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) SOC as a Service Market Size Forecast by Type
13.6.1 Prevention
13.6.2 Detection
13.6.3 Incident Response
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) SOC as a Service Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Healthcare
13.10.3 Education
13.10.4 Retail
13.10.5 IT and Telecom
13.10.6 Logistics and Transportation
13.10.7 Manufacturing
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 SOC as a Service Market: Competitive Dashboard
14.2 Global SOC as a Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Proficio
14.3.2 BlackStratus
14.3.3 Thales e-Security
14.3.4 Cygilant
14.3.5 Alert Logic
14.3.6 Arctic Wolf Networks
14.3.7 Netmagic Solutions
14.3.8 ESDS Software Solution
14.3.9 AQM Technologies
14.3.10 Suma Soft