Global SOC as a Service Market size was valued at US$ 471 Mn. in 2020 and the total revenue is expected to grow at a CAGR of 28.9% through 2021 to 2027, reaching nearly US$ 2,784.78 Mn.
Global SOC as a Service Market Overview:
This report examines the market growth drivers and hurdles for the manufacturer, as well as the market's firm strategies, procedures, and financially sound and develop strategy. Customization and an intensive information of marketplace opportunities can meet the desires of person customers. The global SOC as a Service Market study investigates the competition landscape and major players in the industry. In light of current industry conditions, this global SOC as a Service market report can help with structure planning.
SOC provides the ability to recognise, investigate, and resolve specific cyber attacks. SOC is aided by both technology and human resources. The service types of the SOC as a service market include Prevention Service, Detection Service, and Incident Response Service. SOC as a service market applications include network security, endpoint security, application security, and database security. Some of the end-users of the SOC as a service market are Banking, Financial Services, and Insurance (BFSI), Government and Public Sector, IT and Telecom, Healthcare, Retail, Manufacturing, and Energy and Utilities.
Market Scope:
According to the forecast period 2021-2027, the global SOC as a Service market is estimated to grow at the highest CAGR between 2021 and 2027. This research examines the global SOC as a Service market, including expectations and valuations. This study and analysis of market drivers, restraints, and opportunities affecting the growth of the Global SOC as a Service Market is included in this report. The global market is divided into four segments: type, source, end-user, and geography (country-wise). The objective of this report is to give a strategic analysis of the global SOC as a Service market in terms of individual growth trends, future prospects, and important sub-market participants' contributions. Estimates for North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America are included in the market study, as well as country-by-country segmentation. The strategic orientations, market positioning, and core competence assessments of major industry actors are profiled. The major firms in the Global SOC as a Service Market are profiled as well, with details on their most recent competitive breakthroughs, investments, strategic initiatives, and competitive landscape.
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Segmentation:
The market is divided into three categories: prevention, detection, and incident response. By 2027, the Detection Service category is estimated to have the highest market share of percent. Detection services have witnessed a significant increase in popularity as a result of the increased usage of digital technologies. As people become increasingly reliant on digital information and transmit large amounts of data throughout the world, targeted attacks are becoming more widespread. Advanced technologies give new powers and advantages, but they also increase the risk. Because the cyber security landscape is always changing, businesses cannot protect their assets from all types of cyber-attacks and data breaches. As a result, detection services are in high demand across a wide range of industries.
Banking, Financial Services, and Insurance, Government and Public Sector, IT and Telecom, Healthcare, Retail, Manufacturing, Energy and Utilities, and Others are the different segments of the market. During the projection period 2021-2027, the Banking, Financial Services, and Insurance (BFSI) segment is predicted to increase at a CAGR of percent. BFSI is one of the most enticing businesses for hacktivists or cybercriminals due to a variety of factors such as growing third-party transaction frauds, operational and deployment challenges, and state-sponsored attacks. SOC tools aid in the reduction of fraud and risks in the BFSI sector. These are the elements that will propel the BFSI segment's expansion in the global market from 2021 to 2027.
During the projected period 2021-2027, the Government Public Sector segment is expected to increase at a CAGR of percent. Government and public sector organisations are in charge of handling sensitive data and information. The adoption of new technology has increased dramatically in these industries. Through programmes like digital governance and smart cities, governments are heavily utilising current technical solutions. To obtain access to sensitive data, cybercriminals are increasingly targeting applications used in the government and public sector industrial vertical.
Key Players:
• AlienVault
• BlackStratus
• Cygilant
• Thales e-Security
• Alert Logic
• Proficio
• Netmagic Solutions
• Arctic Wolf Networks
• AQM Technologies
• ESDS Software Solution
• Suma Soft
• GA Systems
• Expel
• RadarServices
• StratoZen
Regional Analysis:
Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America are the five regions that make up the global SOC as a Service market. Selected market aspects that influence present and future market trends, as well as changes in market rules at the country level, are covered in the report's countries section. Some of the primary components used to forecast each country's market situation include consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.
COVID-19 Impact Analysis on SOC as a Service Market:
The recovery procedure for the COVID-19 pandemic has come to an end all around the globe. Maximize Market Research's Global SOC as a Service Market Status, Trends, and COVID-19 Impact Report 2021 examines the global SOC as a Service market in light of current economic conditions. MMR regularly assesses the impact of the COVID-19 pandemic on different sectors and industries in all areas. The same information can be found in the Maximize Market Research (MMR) report. It can be used to find out how COVID-19 has affected the decline and growth of the industry. In addition, MMR reports help identify market supply and demand gaps. The MMR report contains analysis, government policy updates, and a variety of other important data.
Key Questions answered in the SOC as a Service Market Report are:
- Which product segment grabbed the largest share in the SOC as a Service market?
- How is the competitive scenario of the SOC as a Service market?
- Which are the key factors aiding the SOC as a Service market growth?
- Which region holds the maximum share in the SOC as a Service market?
- What will be the CAGR of the SOC as a Service market during the forecast period?
- Which application segment emerged as the leading segment in the SOC as a Service market?
- Which are the prominent players in the SOC as a Service market?
- What key trends are likely to emerge in the SOC as a Service market in the coming years?
- What will be the SOC as a Service market size by 2027?
- Which company held the largest share in the SOC as a Service market?
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