SOC as a Service Market

Key Insights

The Global SOC as a Service Market is valued at USD 981.80 Million in 2023 and is projected to reach a value of USD 7052.1 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 27.95% between 2024 and 2032.

Overview and Description

SOC a as reflects a service-based model that outsources portions of SOC functions to an external provider. The primary driver for SOC as a Service has been increased use of cloud.

The global SOC as a Service market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2023 to 2032.

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Insights

Public sector and government firms deal with critical information and data. These firms have seen the healthy adoption of progressive technologies in recent time. Digital Initiatives by smart cities, governments in different nations are immensely expanding contemporary technological solutions.

Increasing demand for connected devices and rising penetration of internet connectivity grows the chances of being invaded online. With substantial increase in cyber-attacks, demand has increased tremendously for SOC as a Service (security operations centre).

Ambiguity faced by firms with respect to cloud security services can hamper the growth.

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Regional Analysis: Preview

Based on region, the global SOC as a Service market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global SOC as a Service market are Cygilant, Thales e-Security, AQM Technologies, Netmagic Solutions, BlackStratus, AlienVault, ESDS Software Solution, Proficio, GA Systems, Alert Logic, Arctic Wolf Networks, RadarServices, StratoZen, Suma Soft, Expel. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

The global SOC as a Service market can be categorized as Type, Application, End-Use Industry, and Region.