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2022
Soc As A Service Market

SOC as a Service Market by Component Type (Solution, Services), Service Type (Prevention, Detection, & Incident Response), Offering Type (Fully Managed and Co-managed), Application Area (Network Security, Endpoint Security, Application Security, Database Security, and Others), Industry Vertical (BFSI, Healthcare, Government and Public sector, IT and Telecom, Retail, Manufacturing, Energy and Utilities, and Others); Global Opportunity Analysis and Industry Forecast, 2021–2030

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Feb 2022 | 68 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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SOC as a service is a cloud-based service that supports enterprises to outsource the entire security operation, such as managing endpoints, network, application, database, and server's websites. Mainly, SOC as a service delivers the essential cybersecurity skills essential to combat cultured cyber-attacks. In addition, it provides admirable response and detection services for modifying risks at an initial stage. SOC as a service provider comprises a passionate team of information security experts that are responsible for observing and considering and the organization's security posture.

Market scope and structure analysis:

Report Matric

Details

  Market size available for the years

  2020-2030

  Base year considered

  2020

 Forecast period

  2021-2030

  Forecast unit

  Value ($)

  Segments covered

  • Component Type
  • Service Type
  • Offering  Type
  • Application
  • Industry Vertical
  • Region

Regions covered

  • North America (U.S. and Canada),
  • Europe (Germany, UK, France, and the Rest of Europe),
  • Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific).
  • LAMEA (Latin America, Middle East, and Africa)

 Companies covered

 

  1. Alien Vault
  2. Black Stratus
  3. Cygilant
  4. Thales E-security
  5. Alert Logic  
  6. Net magic
  7. Arctic Wolf Networks
  8. AQM Technologies
  9. ESDS Software Solution  
  10. Suma Soft
  11. GA Systems  
  12. Expel
  13. Radar Cyber Security  
  14. Others

 

COVID-19 scenario analysis of SOC as a service market:
The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown restriction on movement has disrupted the supply chain across the globe but gave opportunities to the Service industry and has positive impact on the growth of the SOC as a service market.

The outbreak of COVID-19 pandemic has affected every segment of SOC, including individuals and businesses. The internet ecosystem has been playing a pivotal role all over the globe. Due to the COVID-19 pandemic, the dependency on online businesses has increased significantly.

In addition, it is notable the changes in the consumer behavior and demand, purchasing patterns, re-routing of the supply chain, current market forces, and significant interventions of governments. 
Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run, the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Surge in trends such as BYOD, CYOD, and WFH

Organizations had full control over limiting the use of technology among employees. For this purpose, organizations used to give those customized laptops and cell phones typically provisioned with default configurations that meet corporate policies. By implementing, organizations were successful in maintaining data integrity as well as the overall security posture of organizations. With the introduction of digitalization and prompt changes in technology, organizations across the globe are assuming new trends such as Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) (laptops, tablets, and smartphones) for their employees. Additional, work from home (WFH) is a trend in which employees are allowed to WFH from their devices. In addition, in WFH, the employees they use private networks such as mobile connections or broadband whose security strength is not known by organizations. Further, to protect organizations from potential troubles that could be caused due to these trends, enterprises are assuming SOC as a service for reducing the threat landscape. Hence, the surge in trends such as BYOD, CYOD, and WFH is driving the SOC as a service market growth. 

Lack of trust among enterprises to allow full control of system architecture to SOC as service providers

Initiatives suspect that if things go wrong between SOC as a service and organizations, SOC as a service has complete control of system architecture that can prove to be disadvantageous for organizations. Mainly, major organizations are uncertain in giving full control of their system architecture to SOC as service providers. Other factors such as hidden costs, the quality of service provided, and lack of trust in service providers may limit the growth of this SOC as a service.

However, according to industry experts, if SOC as a service can prove to be reliable at each and every step to upper-level management and comfort that the enterprise data is in safe hands from time to time, enterprises develop a sense of confidence and can extend access to SOC as a service.

Directive to follow regulatory and data protection directives for cyber defense

SOC as a service for cyber defense is also required to comply with the existing governments’ data protection laws. Data protection directions play an essential role in addressing the rising concerns over the privacy of an individual’s data. In addition, regularly shifting threat landscape has given rise to a large number of government procedures globally, which need to be strictly followed by enterprises across the globe. Initiatives are required to meet required security standards. If they fail to meet these standards, they have to pay substantial charges to governments. An enterprise data breach or data leakage causes huge data losses to organizations and impedes the brand image of companies.

Key segments covered:

Segments

Sub-segments

  Component Type

  • Solution
  • Service

  Service Type

  • Prevention
  • Detection
  • Incident Response

 Offering Type

  • Fully Managed  
  • Co-managed

  Application Area

  • Network Security
  • Endpoint Security
  • Application Security
  • Database Security
  • Others

  Industry Vertical

  • BFSI
  • Healthcare
  • Government and Public sector
  • IT and Telecom
  • Retail
  • Manufacturing
  • Energy and Utilities
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global SOC as a service market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global SOC as a service market share
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the global SOC as a service market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides detailed global SOC as a service market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global SOC as a service market research report:

  • Which are the leading market players active in the SOC as a service market?
  • What would be the detailed impact of COVID-19 on the SOC as a service market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the SOC as a service market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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