SOC as a Service Market to Grow at 25.0% CAGR to 2024 | Global Key Players like AlienVault, BlackStratus, Cygilant, Thales e-Security, Alert Logic and Others.
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The Global SOC as a Service Market size is expected to grow from US$ 372 Million in 2019 to US$ 1,137 Million by 2024, at a Compound Annual Growth Rate (CAGR) of 25.0% during the forecast period. This report spread across 129 pages, profiling 15 companies and supported with 71 tables and 32 figures is now available in this research.
The Solution segment is expected to hold a larger market size in the SOC as a service market during the forecast period. SOC as a service vendors help enterprises in providing necessary knowledge, awareness, and risk background to understand threats to its environment and react appropriately. The solution helps enterprises identify the existing security posture of their information systems and infrastructure, and combat against cybersecurity threats.
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“Among offering type, co-managed or hybrid segment to grow at a higher CAGR during the forecast period”
Under offering type, SOC as a service market is segmented by fully managed and co-managed or hybrid segments. The co-managed or hybrid segment is set to grow at a higher CAGR during the forecast period. The hybrid or co-managed model for SOC and SIEM provides organizations with greater control and visibility into their IT infrastructure. Organizations can extend their internal security team by adopting hybrid or co-managed SIEM and SOC services. The hybrid service provides comprehensive data protection and prevents the damages caused by security breaches.
“North America to account for the largest market size, whereas Asia Pacific (APAC) to grow at the highest CAGR”
North America is projected to hold the largest size of the SOC as a service market from 2019 to 2024, owing to the early adoption of the SOC as a service solution in the region across various application areas, such as network security, endpoint security, and database security. The concentrated presence of large number of SOC as a service solution and services providers in the US is also expected to drive revenue growth from the region.
Breakdown of primary participants’ profile:
• By Company: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level – 50%, Director level – 25%, and Others – 25%
• By Region: North America – 45%, Europe – 25%, APAC – 20%, Latin America – 5%, Middle East and Africa: – 5%
• To forecast the market size of the segments with respect to major regions: North America, Europe, APAC, MEA, and Latin America.
• To profile the key players in the market and comprehensively analyze their market size and core competencies
• To define, segment, and project the global market size for SOC as a service market
• To define, describe, and forecast the market by components (solution and services), service type, application areas, offering types, industry verticals, and regions
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the SOC as a service market
• To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders by identifying the high growth segments of the market
• To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global SOC as a service market
Reason to access this report:
The Report will help the market leaders/new entrants in the SOC as a service market with information on the closest approximations of the revenue numbers for the overall SOC as a service market and the sub segments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
Competitive Landscape of SOC as a Service Market:
1 Competitive Leadership Mapping
1.1 Progressive Companies
1.2 Responsive Companies
1.3 Dynamic Companies
1.4 Starting Blocks
2 Key Developments in SOC as a Service Market
2.1 Partnerships, Agreements, and Collaborations
2.2 New Product Launches/Product Enhancements
2.3 Business Expansions
Most Popular Companies Profiled in this report includes, AlienVault (US), BlackStratus (US), Cygilant(US), Thales e-Security (France), Alert Logic (US), Proficio (US), Netmagic Solutions (India), Arctic Wolf Networks (US), AQM Technologies (India), ESDS Software Solution (India), Suma (India), GA Systems (Australia), Expel (US), Radar Services(Austria), and StratoZen (US).
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