Faster and easier adoption of BYOD, CYOD, and WFH and higher cost due to endpoint attacks have led to the rise in the market.
The factors such as the increase in the adoption of cloud-based solutions across enterprises have led to the rise in the market. Besides, security attacks have increased among the various organization, and with the present scenario of COVID-19, the cybersecurity risk have increased drastically. Hence it is expected that the global SOC as a Service market size is projected to reach USD 4,167 million by 2028
The services segment helps vendors of security in identifying frauds and risks and helping customers in maintaining SOC easily. With the growth of the service segment in recent years, the vendors have adopted various services to the customers such as consulting, training, maintenance, and support services.
The global SOC as a Service market is segmented into solutions and services. The text analytics segment is anticipated to dominate its position within the customer success platform market over the forecast period. The SOC as a service address critical business problem with unprecedented effectiveness by integrating data from various sources, such as CRM systems, websites, email, social media, and different third-party websites. Vendors within the industry deliver such solutions as complete software or standalone platforms depending on several needs, such as churn analysis, workflow management, customer onboarding, and sales & marketing management.
Government and Public sector enterprises deal with a huge amount of data, which has led to the adoption of SOC as a service in recent times. The government is supporting such technologies with the rise of digitalization and increment in smart cities. As these sectors, deal with crucial data, the risk of cyberattacks is on the surge in the coming years, due to which the government sector has the highest growth rate in the forecast period.
The global SOC as a Service market is divided into a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the SOC as a Service application, owing to the present number of organizations with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory nations to the expansion of the SOC as a Service industry in North America.
The major players of the global SOC as a Service market are AlienVault, BlackStratus, Cygilant, Thales E-security, Alert Logic, Proficio, and more. The SOC as a Service market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global SOC as a Service Market
Component Overview, 2018-2028 (USD Million)
- Training and Education
- Support and Maintenance
Service Type, 2018-2028 (USD Million)
- Prevention Service
- Detection Service
- Incident Response Service
Offering Type, 2018-2028 (USD Million)
- Fully Managed
- Co-Managed or Hybrid
Application Area, 2018-2028 (USD Million)
- Network Security
- Endpoint Security
- Database Security
Industry Vertical, 2018-2028 (USD Million)
- Government and Public Sector
- IT and Telecom
- Energy and Utilities
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America