Global SOC as a Service Market Share 2024, Forecast To 2033
26 Feb, 2024
The SOC as a service market has shown strong growth, increasing from $4.05 billion in 2023 to $4.43 billion in 2024, with a CAGR of 9.4%. Historical growth is attributed to cybersecurity threats, lack of in-house expertise, compliance requirements, advanced persistent threats, and rising security alert volumes. Forecasts suggest continued strong growth to $6.83 billion in 2028, with a CAGR of 11.4%, driven by evolving cyber attacks, AI integration, cloud-based security expansion, SME adoption, and emphasis on threat intelligence. Major trends include automation and orchestration, continuous monitoring, zero trust security models, managed detection and response services, and user and entity behavior analytics in SOC.
Global SOC as a Service Market Key Driver
The sophistication of cyber-attacks and security breaches is propelling the growth of the SOC-as-a-service market. Global cyberattacks increased by 38% in 2022, highlighting the need for robust security measures. SOC-as-a-service offers faster detection and remediation, aligning with the escalating sophistication of cyber threats.
Get A Free Sample Of The Global SOC as a Service Market ReportGlobal SOC as a Service Market Segments
The soc as a service market covered in this report is segmented –
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
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
Major SOC as a Service Industry Players
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.
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SOC as a Service Market Overview
A security operations center (SOC) refers to a team within a company tasked with researching, identifying, preventing, and responding to cyber threats. SOC as a service monitors security 24/7 and uses automation and data science to speed up detection and deliver high-confidence alerts. The SOC as a service is used to reduce the burden on in-house security teams.
SOC as a Service Global Market Report 2023 provides data on the global soc as a service market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soc as a service market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.