Security Operations Center Market Research Report: Segmentation by Service (Security Monitoring Service, Information Security Incident Response Service, Risk Reporting and Analytics Service and others), Organization Size (Large Enterprise and Small and Medium-Sized Enterprise), Model (In-House SOC and Outsourced SOC), Vertical (BFSI, Healthcare, Oil & Gas and others), Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027

Security Operations CenterMarket Overview:
Security Operations Center (SOC) Marketis expected to register a USD 27.61 Billion with CAGR of 13.6% during the review period, 2019–2025.

The regions have been witnessing an obnoxious increase in the quantum of cyberattacks from different ends. Hence, there is an emergent need for enterprises to reduce the risks which is an excellent opportunity for the market services to cater to. The internet has become a vital source in a digital world like today, the hackers are getting an open market to target the customers and exploit their vulnerabilities.

Covid 19 Analysis:
The pandemic has introduced new market trends like work-from-home, online classes, and virtual events and tradeshows amongst others. The demand for constant internet services and connected devices has increased during 2020 but the market has a higher degree of threat related to cybersecurity.

Hence, the key market players are collaborating with the government for the development of strict compliance backed with regulatory needs and technological advances that will compete with the cyberattackers and safeguard the services and precious information. The players are also focusing on developing fast-speed internet services for the target audience to rely upon and enhance the operations for the global market segments during the forecast period.

Security Operations CenterMarket Dynamics:
Drivers:
The market is witnessing a growing demand and penetration of internet services which is further pushing for an increase in the connected devices demand. This demand increases the risk of online attacks. The rise in the number of sophisticated cyberattacks is huge and hence, this is emerging as one of the major facts that will drive the demand for soc as a service for the forecast period that ends in 2028. Also, the rise in cumbersome administration post a threat or cybercrime has been detected as another factor that is likely to present the market with excellent growth prospects during the ongoing forecast period.

Restraints:
However, the market includes the services lent by third-party vendors. The target audience takes time to build the much-needed reliability and trust in these vendors. Rising concerns related to the protection of one’s and data privacy, data leaks, misuse of information, and frequency of attacks are likely to present restraints for the market and hence, bar the market from growing as per the prediction during the forecast period.

Technology Analysis:
The market is witnessing an enhanced degree of dynamicity that prevails in the business environment and transactions which are pushing and encouraging the organizations to increase their demand for market services and technological advancements. The target audience that is spread across various global regions is enhancing their demand quantum for the adoption of soc in the form of market services and solutions to ensure a better degree of security for the data availability. Also, the target audience is witnessing an indispensable need for compliance with various regulatory alliances like hipaa, gdpr, alongside pci-dss, which have excellent prospects for the market during the forecast period that ends in 2028.

Study Objectives:

• to examine the viewpoint of various industry experts and leaders and predict compound annual growth rate and market growth rate by the end of the global forecast in 2028.


• to underline a competitive market outlook prevailing within the market and examine the yield models of key market players, worldwide.


• to observe the different market dynamics like trends, drivers, and restraints that are most likely to play a role in helping the market and its different segments growing in the domestic as well as international market.

Security Operations CenterMarket Segment Overview:
Security operation center (soc) market share is expected to experience significant growth owing to the performance of different market segments. Among these, the it & telecom segment will be the fastest-growing and also contribute towards this market growth more than any other segment. For an amplifying use the market has been segmented into the following on different bases:

• Based on the type of service, it hasthe security monitoring service, information security incident response service, threat, and vulnerability identification, digital forensics and malware analysis service, risk reporting and analytics service, and others.


• Based on the type of model, it has an in-house security operation center (soc) and an outsourced security operation system (soc).


• Based on organization size, it has small & medium scale enterprises and large scale enterprises.


• Based on verticals, it has it & telecom, government, bfsi, oil & gas, aerospace and defense, healthcare, retail, travel & tourism, and others.

Security Operations CenterMarket Regional Analysis:
The security operation center (soc) industry movement is remarkably working in 4 major regions of the world that is north america, asia pacific, europe, and the rest of the world. Among all these regions, the north american region will dominate this market, and the reason attributed to it is the rising need to examine, detect, investigate, and monitor, and respond to cyber threats. In addition to this stable economic conditions and increasing focus on data protection is another reason that will enhance the growth of the market in this region. The growth of this region will be led by its leading economies such as the united states of america, canada, and mexico. The asia pacific region will also witness tremendous growth during the forecast period due to the rising number and encouraging government policies in the adoption of advanced technologies. Also, a large number of small-scale industries are being established to cope up with the rising consumer demand for data security in this region which will further broaden the size of the market in this region. India, china, and japan will be responsible for the expansion of this industry in the asia pacific region.

Competitive Landscape:
To get a detailed and profound idea about the security operation center (soc) market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the world. The global players of the market are opting for mergers and acquisitions that will help in enhancing the market operations. The prime players of this market include:-

• Capgemini se (france)


• Cisco systems inc. (us)


• Secureworks inc. (us)


• Symantec corporation (us)


• Raytheon company (us)


• Net magic solutions (india)


• Dark matters inc. (uae)


• Digital guardian (us)


• Fortinet inc. (us)


• At&t (us)


• Alertlogic inc. (us)


• Rapid7 (us)


• F5 networks inc. (us)


• Netdatavault (india)


• Secure works (us)


• International business machines corporation (us)


• Verizons communication inc. (us)


• British telecom group plc (uk)


• Broadcom inc. (us)


• Cygilant inc. (us)

Recent Developments:

• In march 2021, a brand new cloud application & host protection and streamlined security operation system was launched by elastic.


• In april 2020, with a view of protecting the customers from phishing attacks, jana small finance collaborated with one of the leading network security companies. Along with a 24/7 operating security center, a lot of securities for database, application, system, and network were enforced for monitoring all real-time transactions.


• In january 2020,symantec’s cybersecurity services business was acquired by accenture from broadcom, inc. The reason for this acquisition was the portfolio of symantec’s cybersecurity services which include global threat monitoring, real-time adversary and industry-specific threat intelligence, and immediate response services.


• In july 2019,the at&t managed threat detection and response system was launched by at&t cybersecurity which will aid the enterprises before they affect their daily operations, detect, monitor, and address cyber threats. Also, the alien vault was acquired by at&t cybersecurity in 2018 and incorporated its open threat exchange (otx) and unified security management (usm) platforms with at&t’s new standalone security division.


• In june 2019, to aid the consumers in driving differentiation, innovation, transformation, and operational efficiency across their businesses were launched by capgemini in melbourne, australia, this security operation center will allow the organization in protecting its data, assets, identities, and overall customer trust. Also with the help of expanded advanced technology and development, a center was established at bull street district office in columbia, south carolina, by capgemini in november 2018.

Intended Audience:

• Security operation center (soc) companies


• Security operation center (soc) providers


• System integrators and third-party vendors


• Government bodies


• Technology investors


• Research institutes and organizations


• Market research and consulting firms


• End-users/enterprise-users


• Managed service providers (msps)


• Value-added resellers (vars)

Report Overview:
The security operation center (soc) industry report presents a shift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report discusses the impact of covid-19 on the key players of this market. The report also tells about the market segmentation on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in this industry.

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 27.61 Billion
CAGR	13.6%
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	by Service, Organization Size
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	凯捷SE(法国)、思科(csco . o:行情),(我们)cureworks Inc. (US), Symantec Corporation (US), Raytheon Company (US), Netmagic Solutions (India), Dark Matters Inc. (UAE), Digital Guardian (US), Fortinet Inc. (US), AT&T (US), Alertlogic (US), Rapid7 (US), F5 Networks Inc. (US), and Netdatavault (India).
Key Market Opportunities	The SOC team aims to detect, analyze, and respond to cybersecurity threats using a combination of technology solutions and processes. SOC staff consists of security analysts and managers who oversee all the security operations.
Key Market Drivers	The increasing sophistication of cyberattacks is a major factor boosting the SOC market. However, the lack of reliability of third-party vendors is a factor that hinders its growth. \r\n Security operations centers are imperative for the effective detection of cyber threats and identification of the existing vulnerabilities in the system.

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