ID: MRFR/ICT/2450-CR | February 2020 | Region: Global | 148 pages
A security operations center (SOC) is a center or premises that contains an information security team that is in charge of monitoring and analyzing an enterprise's security regularly. The SOC team aims to detect, analyze, and respond to cybersecurity threats using a combination of technology solutions and processes. SOC staff consists of security analysts and managers who oversee all the security operations.
Global Security Operations Center (SOC) Market is expected to register a CAGR of 10.31% during the review period, 2019–2025.
The increasing sophistication of cyberattacks is a major factor boosting the SOC market. However, the lack of reliability of third-party vendors is a factor that hinders its growth. Security operations centers are imperative for the effective detection of cyber threats and identification of the existing vulnerabilities in the system. Enterprises have realized that attacks can never be fully prevented, and therefore have felt the need to advance their detection capabilities to respond appropriately. Meanwhile, corporate policies such as bring-your-own-device (BYOD) and bring-your-own-access (BYOA) to increase employee satisfaction and productivity, also increase the risks of cyberattacks. These are some of the most important factors fueling the market growth.
The Key Players in the Global Security Operations Center Market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These players include Capgemini SE (France), Cisco Systems Inc. (US), Secureworks Inc. (US), Symantec Corporation (US), Raytheon Company (US), Netmagic Solutions (India), Dark Matters Inc. (UAE), Digital Guardian (US), Fortinet Inc. (US), AT&T (US), Alertlogic (US), Rapid7 (US), F5 Networks Inc. (US), and Netdatavault (India). The major strategies adopted by most of the market players are partnerships, agreements, and collaborations.
The Global Security Operations Center Market has been segmented based on service, model, organization size, vertical, and region.
By service, the global security operations center market has been categorized 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. By model, the market has been categorized into in-house SOC and outsourced SOC. By organization size, into large enterprises and SMEs. By vertical, into IT & telecom, government, BFSI, oil & gas, aerospace and defense, healthcare, retail, travel & tourism, and others.
Geographically, the global security operations center market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa.
North America accounted for the largest share in the global security operation center market; it is expected to dominate the market during the forecast period. The increasing need to detect, investigate, monitor, and respond to cyber threats is the key driving factor for the growth of the SOC market in North America. The region, by country, has been segmented into the US, Canada, and Mexico.
Key Questions Addressed by the Report
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Service, Organization Size|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Capgemini SE (France), Cisco Systems Inc. (US), Secureworks Inc. (US), Symantec Corporation (US), Raytheon Company (US), Netmagic Solutions (India), Dark Matters Inc. (UAE), Digital Guardian (US), Fortinet Inc. (US), AT&T (US), Alertlogic (US), Rapid7 (US), F5 Networks Inc. (US), and Netdatavault (India).|
|Key Market Opportunities||The SOC team aims to detect, analyze, and respond to cybersecurity threats using a combination of technology solutions and processes. SOC staff consists of security analysts and managers who oversee all the security operations.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
In-House SOC and Outsourced SOC are the top models of security operations centers.
IT & Telecom, Government, Healthcare, BFSI, Retail, Oil & Gas, Consumer Electronics, Travel & Tourism, Aerospace and Defense, are the significant verticals outlined in the MRFR report.
The projected market size by the year 2025 is USD 52.81 billion.
As per MRFR estimation, the APAC market can achieve the fastest CAGR during the given timeframe.
The top marketing strategies being adopted by the companies include agreements, collaborations and partnerships.