The SOC as a Service market place is actually projected to grow from USD 471 million in 2020 to USD 1,656 million by 2025, at a Compound Annual Growth Rate (CAGR) of 28.6 % throughout the forecast period. The escalating venture capital funding and increasing investments in SOC as a Service know-how to operate the market development.
By component, services segment to develop at a greater cagr throughout the forecast period.
The services include the additional support provided by security vendors to help the customers of theirs in utilizing as well as maintaining SOCaaS effectively. Vendors provide various services, like consulting, education and knowledge, and maintenance and help. The services sector has witnessed huge development recently. Thus, the services sector registers probably the highest growth rates throughout the forecast period.
By service sort, the detection service segment to purchase probably the highest growth rates throughout the forecast period.
The detection service offers the capability to identify fraudulent tasks throughout enterprise networks quickly and does respond to cyber incidents effectively and quickly. Additionally, it allows for reports on security related incidents as well as events and directs alerts on analyzing any malicious activity. Thus, the detection service segment holds probably the highest growth rates throughout the forecast period.
The Asia Pacific to purchase probably the highest growth rates throughout the forecast period.
The Asia Pacific (APAC) has witnessed a dynamic and advanced adoption of new technologies and it is anticipated to capture probably the highest CAGR in the worldwide SOC as a Service industry throughout the forecast period. APAC constitutes significant economies, like China, Japan, Singapore, and New Zealand and Australia, that are anticipated to register higher growth rates in the SOC as a Service market. Industries like financial institutions, public sector and government, healthcare, retail, manufacturing, utilities and energy, and some are actually anticipated to adopt SOC as a Service option at probably the highest price of the region. Companies operating in APAC will gain from the elastic economic problems, industrialization motivated policies of the governments, and also from the increasing digitalization, which is actually anticipated to have a major effect on the business community.
- By Company Type: Tier 1 – 23%, Tier 2 – 27%, and Tier 3 – 50%
- By Designation: C-level – 48%, D-level – 31%, and Others – 21%
- By Region: North America – 28%,Europe– 26%, Asia Pacific– 30%,MEA – 10%, Latin America- 6%
Major vendors offerings as a Service solution include AlienVault (US), BlackStratus (US), Cygilant (US), Thales E-security (France), Alert Logic (US), Proficio (US), Netmagic (India), Arctic Wolf Networks (US), AqmTechnologies (India), ESDS Software Solution (India), Suma Soft (India), GA Systems (Australia), Expel (US), Radar Cyber Security (Austria), Stratozen (US), Fortinet (US), Binary Defense (US).