Security Operations Center (SOC) Market Size Worth USD 69.52 Billion by 2030 | Forecast [2022-2030]

Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Security Operation Center Market – Information by Service, Organization Size and Region – Forecast till 2030” the market is expected to grow at a 8.1% CAGR by 2030.

The regions are seeing many obnoxious rises in the cyber-attacks quantum rise from other ends. That is why there seems to be a need for the emergence of the companies to lessen the risk which is a great scope for the market services to cater to. The internet has turned out to be a crucial source in the world of digitalization just like in today’s time. The hackers these days are getting towards the open market and looking forward to targeting the customers and then exploring their further vulnerabilities.

Market Scope:

A security operations center (SOC), simply put, is a center or premise which contains an information security team that are in charge to analyze and monitor the security of an enterprise regularly. The SOC team aims in detecting, analyzing, and responding to cybersecurity threats through a combination of processes and technology solutions. The staff comprises managers and security analysts that oversee every security operation.

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Dominant Key Players in the Security Operation Center market covered are:

• Netdatavault (India)
• F5 Networks Inc. (US)
• Rapid7 (US)
• Alertlogic (US)
• AT&T (US)
• Fortinet Inc. (US)
• Digital Guardian (US)
• Dark Matters Inc. (UAE)
• Netmagic Solutions (India)
• Raytheon Company (US)
• Symantec Corporation (US)
• Secureworks Inc. (US)
• Cisco Systems Inc. (US)
• Capgemini SE (France)

Market USP exclusively encompassed:

Market Drivers

According to the MRFR report, there are numerous factors that are propelling the security operation center market. Some of these include the need for cyber security operations center to defend the increase in cyberattacks across the globe, the growing need for enterprises to reduce risk, the need for strict compliance with regulatory needs, technical advances in cyberattacks, increasing penetration of the internet, and growing need for connected devices. Additional factors fuelling market growth entail the increasing chances of being hacked online, the demand for SOC as a service, rise in sophisticated cyber-attacks, and the growing need for the protection of critical data from the BFSI, manufacturing, healthcare, IT and telecommunication, and others.

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Market Restraints

On the flip side, the lack of reliability of third-party vendors may limit the security operations center market growth over the forecast period.

Market Segmentation:

As per the service type:

• Vulnerability Identification
• Digital Forensics
• Information Security Incident
• Threat
• Security Monitoring
• Malware Analysis Service
• Risk Reporting And Analytics Service

As per the model type:

• In-House Security Operation Center
• An Outsourced Security Operation System

As per the organization size:

• Large Scale Enterprises
• Small & Medium Scale Enterprises

As per the verticals:

• BFSI
• Telecom
• Government
• Retail
• Travel & Tourism
• Healthcare
• Aerospace and Defense
• Oil & Gas

Security Operations Center Industry News:

There was a new cloud application launched by elastic which also had a feature of protecting the host and streamlining the security operating system in the year 2021.

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Recent developments in the SOC market:

• The growth of cloud computing is driving the demand for SOC services. Cloud-based SOCs offer a number of advantages over traditional on-premises SOCs, including scalability, flexibility, and cost-effectiveness.
• The increasing use of artificial intelligence (AI) and machine learning (ML) is transforming the SOC landscape. AI and ML are being used to automate tasks, detect threats, and respond to incidents more quickly and efficiently.
• The rise of next-generation SOCs (NGSOCs) is another major trend in the SOC market. NGSOCs are designed to address the challenges of modern cyber threats by using a combination of AI, ML, and automation.

Browse the Japanese language version of the Security Operations Center Market

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