Security Operations Center Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Security Operations Center Market size accounted for USD 37.35 billion in 2022, growing at a CAGR of 8.6% from 2023 to 2033. The Security Operations Center (SOC) market involves the establishment and management of centralized facilities that monitor, detect, respond to, and mitigate cybersecurity threats. SOCs utilize advanced technologies, including threat intelligence, security information and event management (SIEM), and incident response tools, to safeguard an organization's digital assets. The market is driven by the escalating frequency and complexity of cyber threats, coupled with the need for a proactive and centralized approach to cybersecurity. Key features include real-time threat monitoring, analysis, and collaboration among security professionals. Leading vendors in the SOC market include IBM, Splunk, and Cisco.

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The Security Operations Center (SOC) market is propelled by the increasing frequency and sophistication of cyber threats, necessitating organizations to establish centralized facilities for continuous monitoring, detection, and response. Key drivers include the need for real-time threat intelligence, collaboration among security professionals, and the deployment of advanced technologies like SIEM and incident response tools.

Key Players
Some of the major Security Operations Center Market players holding high market shares include Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Software Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Capgemini SE, Symantec Corporation, AT&T Inc, Cisco Systems, Inc, Fortinet, F5 Networks, Inc, SecureWorks Corp, Raytheon Company, Dark Matters, Inc, Rapid7, Inc, Alert Logic, Inc, Netdatavault, Digital Guardian, Inc, and others.

Report Description: https://evolvebi.com/report/security-operations-center-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Segmental Analysis
Based on Services, the Security Operations Center market is segmented into 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. In terms of market share by solution, the Security Monitoring Service sector led the pack in 2021 and is probably going to continue to do so in the years to come. The security operations center's (SOC) security monitoring services aid in identifying threats to an organization's network.
Based on Model, the Security Operations Center market is segmented into In-House SOC and Outsourced SOC. Over the anticipated time, the In-House SOC category is anticipated to display the highest value. Any organization that keeps an eye on its network for signs of a cyberattack and responds to any possible issues for the organization has an in-house SOC.

Based on Organization Size, the Security Operations Center market is segmented into Large Enterprises and SMEs. Throughout the anticipated period, an increasing CAGR is anticipated for large enterprises. Large enterprises that prioritize long-term security might consider the SOC services.

Based on Vertical, the Security Operations Center market is segmented into IT & Telecom, Government, BFSI, Oil & Gas, Aerospace and Defense, Healthcare, Retail, Travel & Tourism, and Others. Throughout the anticipated period, it is anticipated that the CAGR for IT and telecom would rise. The foundation of many critical services that rely on connectivity, such as utility, emergency response, transportation, and financial services, is the IT and telecom sector.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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