Market Research Future (MRFR) has published a cooked research report on the “Global Security Operations Center Market” that contains information from 2018 to 2030. The Security Operations Center market is estimated to register a CAGR of 8.1% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Security Operations Center market— Capgemini SE, Symantec Corporation, AT&T Inc., Cisco Systems, Inc., Fortinet, F5 Networks, Inc., SecureWorks Corp., Raytheon Company, Dark Matters, Inc., Rapid7, Inc., Alert Logic, Inc., Netdatavault, Digital Guardian, Inc., and others.
The global Security Operations Center market is accounted to register a CAGR of 8.1% during the forecast period and is estimated to reach USD 69.52 billion by 2030.
The Security Operations Center (SOC) market refers to the industry focused on providing cybersecurity services and solutions to monitor, detect, and respond to various security threats and incidents in real-time. It encompasses technologies, tools, and expertise aimed at safeguarding digital assets and ensuring the integrity and availability of systems and data. The market has been growing due to the increasing complexity and frequency of cyberattacks across industries.
The global Security Operations Center market has been segmented on based Service, Model, Organization Size and Industry Vertical.
On the basis of Service, the market is segmented 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 solution with the most market share in 2021 was the Security Monitoring Service sector, which is expected to continue to rule in the coming years. Network-level threats to organisations are found using the security monitoring services provided by security operations centres (SOCs).
Based on Model, the global Security Operations Center market has been segmented into Industrial In-House SOC and Outsourced SOC. During the anticipated time, the In-House SOC category is anticipated to have the largest value. An internal SOC is a division within a company that keeps an eye on the network for any signs of a cyberattack and responds to any potential incidents for the company.
Based on Organization Size, the global Security Operations Center market has been segmented into Large Enterprises and SMEs. During the anticipated period, the CAGR is anticipated to increase for the Large Enterprises. Large businesses that strive for long-term security should use SOC services.
Based on Industry Vertical, the global Security Operations Center market has been segmented into IT & Telecom, Government, BFSI, Oil & Gas, Aerospace and Defense, Healthcare, Retail, Travel & Tourism, and Others. The It and Telecom is expected to exhibit the growing CAGR during the projected period. IT & telecom industry is the backbone of various essential services that depends on the connectivity including utility, emergency response, transportation, and financial services.
The global Security Operations Center market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Security Operations Center market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Security Operations Center market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Security Operations Center market comprises of Middle East, Africa, and Latin America.
The North America Security Operations Center Market dominated this market in 2022 The region with the biggest market share for security operation centres is predicted to continue to lead the industry during the forecast period. The market in North America is expanding as a result of the growing requirement to monitor, detect, respond to, and investigate cyber threats. The US, Canada, and Mexico are the three countries that make up the region. In the market for security operation centres, the US market in 2021 had the biggest share (55% of the total market). The country's market growth can be ascribed to the increase in cyberattacks and cybercrimes as well as the demand for data security.
Additionally, the second-largest market share belonged to Europe, which was predicted to see a CAGR of 9.7% in the security operation centre market during the forecast period. The government of Europe provides substantial assistance for the creation of security operation centres. The regulatory framework for data protection in the European Union (European Commission, 2014) has strengthened SOCs for businesses in Europe, which is fueling industry expansion.
Moreover, during the anticipated period, the security operation centre market in Asia-Pacific is anticipated to experience the greatest CAGR, at 12.05 percent. The need to combine threat detection and prevention processes in one location is growing, and businesses are paying more attention to the vulnerabilities and security exposures of their systems. The Asia-Pacific region has been divided into China, Japan, India, and the rest of the region.
Key Findings of the Study