SOC As A Service Market to Reach USD 1,745.23 Million by 2026 With Top Leading Players- AT&T Intellectual Property, BlackStratus, Cygilant, Thales Group, Alert Logic, Proficio

Global SOC as a service market is expected to rise to an estimated value of USD 1,745.23 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rising prevalence of cyber-threats coupled with better security services to prevent loss of confidential data.

SOC (Security Operations Center), as-a-service is a subscription type of software offering provided by various IT organizations. This service is responsible for continuously monitoring and managing the logs of devices, clouds, and all of the assets available with the consumer organization. This service provides all of the necessary knowledge and skillsets required to handle the necessary cyber-attacks.

Market Drivers:

Increased threats for security of services as the intensity and complications of cyber-attacks is rising; this factor is expected to drive the growth of the market
Complications in identifying the next procedure once the threats are detected which are made easier with this service; this factor is expected to drive the growth of the market
Need for complying with the various regulatory bodies regarding the security of organizations is also expected to drive the growth of the market
Growing awareness regarding the availability and effectiveness of this service is also expected to positively affect the growth of the market
Market Restraints:

Increasing need to manage the lack of skilled professionals that are capable enough to handle the growing trend of cyber-threats; this factor is expected to restrict the growth of the market
Concerns regarding the effectiveness of security solutions available with the cloud deployment offerings; this factor is expected to restrict the growth of the market

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Segmentation: Global SOC as a Service Market
By Component
Solution
Services
Consulting
Training & Education
Support & Maintenance

By Service Type
Prevention Service
Detection Service
Incident Response Service

By Offering Type
Fully Managed
Co-Managed/Hybrid

By Application Area
Network Security
Endpoint Security
Application Security
Database Security
Others

By Industry Vertical
Banking, Financial Services & Insurance (BFSI)
Government & Public Sector
IT & Telecom
Healthcare
Retail
Manufacturing
Energy & Utilities
Others

By Geography
North America
S.
Canada
Mexico

Europe
Germany
Italy
K.
France
Spain
Netherlands
Belgium
Switzerland
Turkey
Russia
Rest of Europe

Asia-Pacific
Japan
China
India
South Korea
Australia
Singapore
Malaysia
Thailand
Indonesia
Philippines
Rest of Asia-Pacific

South America
Brazil
Argentina
Rest of South America

Middle East and Africa
Saudi Arabia
UAE
South Africa
Egypt
Israel
Rest of Middle East and Africa

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Key Developments in the Market:

In February 2019, AT&T Cybersecurity was established as a standalone operational division after AT&T Cybersecurity Consulting had acquired AlienVault. This acquisition will result in better security capabilities that will be provided as an automated threat detection service

In February 2019, Arctic Wolf Networks Inc. announced that they had agreed a distribution deal with Ingram Micro Inc. This deal will result in availability of all the solutions available with Artic Wolf to the distributor’s large-scale network established in the United States region. This agreement is one of a strategic decision undertaken by the company to establish themselves as the leader of providing security solutions to different organizations, resulting in better revenue generations
Competitive Analysis

Global SOC as a service market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of SOC as a service market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Major Market Competitors/Players

Few of the major competitors currently working in the global SOC as a service market are AT&T Intellectual Property; BlackStratus; Cygilant, Inc.; Thales Group; Alert Logic, Inc.; Proficio; Netmagic Solutions; Arctic Wolf Networks Inc.; ESDS Software Solution Pvt. Ltd.; Sumasoft; Expel, Inc.; RadarServices Smart IT-Security GmbH; StratoZen, Inc.; Binary Defense; OTELCO; Realdolmen; DELTA RISK and Comodo Security Solutions, Inc. among others.

The Soc As A Service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Soc As A Service market.

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Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Soc As A Service market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Soc As A Service market. These factors have benefited the growth of the global market for Soc As A Service. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

Reasons to Purchase this Report:
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Market value USD Million and volume Units Million data for each segment and sub-segment
Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

(**NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.)

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