Market Snapshot
According to MRFR, the Global Security Operations Center (SOC) Market is slated to register a CAGR of 8.1% over the review period (2022–2030). A Security Operations Center (SOC) is a centralized team of experts that proactively monitor an organization's ability to operate securely. SOCs use people, processes, and technology to continuously monitor and analyze an organization's IT and security systems for potential security threats, vulnerabilities, and incidents. SOC analysts use a variety of tools and techniques to monitor and analyze activity on the network and detect suspicious behavior. They also investigate security incidents and respond to them in a timely and efficient manner.
Market Highlights
An important factor boosting the SOC market is the increasing sophistication of cyberattacks. Nonetheless, a factor that hinders its growth is the lack of reliability of third-party vendors. Security operations centers are imperative in order to effectively detect cyber threats and identify existing vulnerabilities within the system. Organizations have recognized that threats can never be stopped entirely, and have thus felt the need to improve their detection capabilities in order to respond accordingly. Meanwhile, corporate initiatives like bring-your-own-device ( BYOD) and bring-your-own-access (BYOA) to improve employee satisfaction and efficiency, often raise cyberattack risks. These are some of the most significant factors fueling growth in the market. Some of the factors driving the SOC market are the increasing need for businesses to minimize risks, the need for strict compliance with regulatory requirements, and the technological advances in cyberattacks. However, a factor limiting market growth is the lack of reliability of third-party vendors. The growing need for banking, financial services, and insurance (BFSI), IT and telecommunications, healthcare, manufacturing, and other vertical vital data security provides lucrative opportunities for key players on the global SOC market.
Click Here to Get Sample Premium Report @ https://www.marketresearchfuture.com/sample_request/3682
Market Segmentation
The Global Security Operations Center Market has been segmented based on vertical, service, organization size, model, and region.
Based on the service, the global security operations center market has been categorized into information security incident response service, security monitoring service, threat and vulnerability identification, risk reporting and analytics service, digital forensics and malware analysis service, and others.
By model, the market has been bifurcated+- into in-house SOC and outsourced SOC.
By organization size, the market is divided into large enterprises and SMEs. The adoption of SOCs is high among large enterprises as compared to SMEs, as a huge investment is involved both in terms of time and money. Due to the lack of expertise, the SMEs are expected to move toward the outsourced SOC model which offers SOC as a service.
By vertical, the market has been segmented into IT & telecom, government, oil & gas, BFSI, aerospace and defense, travel & tourism, healthcare, retail, and others. IT & telecom accounted for the largest market share of the SOC market in 2017 and is expected to register a CAGR of 8.85% during the forecast period. The government segment held the second-largest market in 2017, valued at USD 4.8 billion and is anticipated to exhibit a CAGR of 12.60%. However, the BFSI market segment is expected to register the highest CAGR of 13.69%.
Regional Analysis
Geographically, the core market for global security operations was divided into four regions, namely North America, Europe , Asia-Pacific, Middle East & Africa.
North America accounted for the largest share on the global security operation center market; during the forecast period, it is projected to dominate the market. The growing need to identify, investigate, track and respond to cyber threats is the main driver for SOC market growth in North America. The region was segmented by country into the US, Canada , and Mexico. Asia Pacific is also projected to retain a large share due to increased use of advanced technologies. In addition , growing numbers of startups across the region and supporting government policies have reinforced Asia Pacific 's position as a service market on the global SOC. Establishing large numbers of small and medium-sized businesses to meet strong demand from a large client base has fueled growth in this sector. In addition, increasing sophisticated cyber-attacks in China, Japan , and India are introducing new national cyber security policies, thereby triggering demand for SOC as a service (safety operations centre).
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/security-operation-center-market-3682
Competitive Dynamics
The Key Players include Secureworks Inc. (US), Capgemini SE (France), Cisco Systems Inc. (US), Symantec Corporation (US), Raytheon Company (US), Dark Matters Inc. (UAE), Netmagic Solutions (India), Digital Guardian (US), AT&T (US), Rapid7 (US), Alertlogic (US), F5 Networks Inc. (US), Fortinet Inc. (US), and Netdatavault (India).
**Top Trending Reports**
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
The report “Security Operations Center Market Share, Size, Trends, Industry Analysis Report, By Service; By End-Use (BFSI, Healthcare, Manufacturing, IT & Telecom, Retail, Transportation); By Organization Size (Large Enterprises, Small & Medium Sized Businesses); By Model; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Safety operation center provides centralized protection for preventing, detecting, analyzing, and responding to cybersecurity incidents.
Incident response service prioritizes threats and incidents while ensuring an effective predefined response to different threat scenarios.
Get Sample Copy : https://www.polarismarketresearch.com/industry-analysis/security-operation-center-market/request-for-sample Increasing investments by small & medium sized businesses in the market along with technological advancement in telecommunication industry is expected to drive the market growth during the forecast period.
Small and medium sized businesses are increasingly adopting security operations center to maintain efficient workflow, prevent data loss and theft, defend against external attacks, monitor security risks, and manage resources.
Fraud incidents and money laundering have increased significantly, encouraging BFSI organizations to adopt tools to manage and analyze security risks.
Global 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 2027OverviewGlobal Security Operations Center (SOC) Market is expected to register a CAGR of 10.31% during the review period, 2019–2027.
In this report, Market Research Future (MRFR) includes the segmentation and market dynamics to offer a better glimpse of the market in the coming years.The need to defend against the growing number of cyberattacks worldwide is a key factor that boosts the market growth.
In March 2019, a security breach occurred at the American Medical Collection Agency, a healthcare-related debt collector.
The growing need for the protection of critical data from the banking, financial services, and insurance (BFSI), IT and telecommunication, healthcare, manufacturing, and other verticals offers lucrative opportunities to the key players in the global SOC market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3682Competitive AnalysisCapgemini SE (France), Cisco Systems Inc. (US), Secureworks Inc. (US), Symantec Corporation (US), Raytheon Company (US), Netmagic Solutions (India), Dark Matters Inc. (UAE), Digital Guardian (US), Fortinet Inc. (US), AT (US), Alertlogic (US), Rapid7 (US), F5 Networks Inc. (US), and Netdatavault (India) are some of the key players in the global security operations center (SOC) market among others.Segmental AnalysisThe Global Security Operations Center Market has been segmented based on service, model, organization size, vertical, and region.By service, the global security operations center market has been categorized 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.
The risk reporting and analytics services help in providing SOC reports to the organizations and assuring that all the operational controls are in place, thereby protecting security, availability, processing integrity, confidentiality, and privacy of the organizations.
Others include remediation services that are deployed before the security incident and security administration.By model, the global security operations center market has been categorized into in-house SOC and outsourced SOC.
