Rise in Use of Cloud - Based Applications in Most of the Countries is Accelerating the Growth of SOC as a Service market

The significant rise in cloud-based applications and technologies along with increasing number of digital transactions across the globe puts the customer’s data at risk due to which organization are in dire need to deploy robust security solutions and infrastructure to tackle such security breaches and cyber-attacks. Additionally, due to the outbreak of pandemic, remote work culture is becoming more prevalent which makes the company's system and IT infrastructure more vulnerable to cyber-attacks. Thus, SMEs and large enterprises are increasingly adopting SOC which perform round-the-clock monitoring of an organization’s network and address potential threats to sensitive data, computing systems, and an organization’s other digital resources.

According to Marketlook Consulting’ research report “Global SOC as a Service Market Analysis, 2021”, the Global SOC as a Service market is anticipated to grow at a CAGR 8.5% during 2022-29. The market would reach to USD 9.87 billion by 2029.

Based on service type, the prevention service segment dominated the SOC as a Service market during 2021 and is expected to continue the same trend during the forecast period. Owing to various government and industry standards to ensure safety of customer's data. Additionally, detection services demand has increased significantly in recent years as digital technologies have become more widely implemented.

“Global SOC as a Service Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for SOC as a service providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on leading regions, North America dominated the global SOC as s service market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29 due to the presence of major SOC vendors and rapid adoption of security services, solutions and infrastructure across the region. Additionally, government regulations like HIPPA policies for organizations are projected to fuel the demand for SOC as a service in the forthcoming period as stated in Marketlook Consulting research report “Global SOC as a Service Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Air Purifier market are includes Atos SE, AT&T, IBM Corporation, NTT, Cloudflare Inc., Fortinet Inc., Arctic Wolf Networks, Verizon, Check Point Software Technologies and Thales.

Market Segmentation:

1. By Service Type (Prevention Service, Detection Service, Incident Response Service)
2. By Application Area (Network Security, Endpoint Security, Application Security, Database Security)
3. By Enterprise Size (SMEs, Large Enterprises)
4. By Industry Verticals (BFSI, Healthcare, Government and Public Sector, IT and Telecom, Retail, Manufacturing, Others)
5. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
6. By Company (Atos SE, AT&T, IBM Corporation, NTT, Cloudflare Inc., Fortinet Inc., Arctic Wolf Networks, Verizon, Check Point Software Technologies, Thales)

Key questions answered in the study:

1. What are the current and future trends of SOC as a Service industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the SOC as a Service industry?
5. What is the customer orientation, purchase behavior, and expectations from SOC as a Service firm across various regions?