Security Operation Centre (SOC) as a Service refers to the outsourcing of an organization's security operations to a third-party provider. Instead of building and maintaining an in-house SOC, organizations can leverage SOC as a Service to enhance their cybersecurity capabilities.
According to the new market research report “Security Operation Centre as a Service - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Security Operation Centre as a Service market size is projected to reach USD 2.06 billion by 2029, at a CAGR of 4.5% during the forecast period.
- Global Security Operation Centre as a Service MarketSize(US$ Million), 2018-2029
Source: QYResearch, "Security Operation Centre as a Service - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Security Operation Centre as a Service Top10Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "Security Operation Centre as a Service - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Security Operation Centre as a Service include Thales, AT&T, IBM CORPORATION, Check Point Software Technologies, Atos SE, etc. In 2022, the global top four players had a share approximately 27.0% in terms of revenue.
Market Drivers:
- Increasing Cybersecurity Threats: The continuously evolving threat landscape and the rise in sophisticated cyberattacks have created a strong demand for robust security solutions. Organizations are increasingly recognizing the need for proactive threat detection and response, leading them to leverage SOC as a Service to enhance their cybersecurity capabilities.
- Lack of In-House Expertise: Building and maintaining an in-house SOC requires a team of skilled cybersecurity professionals with expertise in threat detection, incident response, and vulnerability management. However, many organizations face challenges in recruiting and retaining such talent. SOC as a Service providers offer access to a pool of experienced security professionals, alleviating the burden of hiring and training in-house staff.
- Cost Efficiency: Establishing an in-house SOC can be expensive, requiring significant investments in infrastructure, technology, and personnel. SOC as a Service allows organizations to leverage the expertise and resources of a third-party provider at a fraction of the cost. This cost efficiency is particularly beneficial for small and medium-sized enterprises (SMEs) with limited budgets.
- Scalability and Flexibility: SOC as a Service providers offer scalable solutions that can be tailored to meet the specific needs of organizations. As businesses grow or face changing security requirements, they can easily scale up or down their SOC services without the need for significant infrastructure investments or operational disruptions.
- Compliance and Regulatory Requirements: Organizations across industries are subject to various compliance and regulatory standards related to data security and privacy. SOC as a Service providers can help organizations meet these requirements by implementing and maintaining the necessary security controls, conducting regular audits, and providing compliance reporting.
- Advanced Technologies: SOC as a Service providers often leverage advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics to enhance threat detection and response capabilities. These technologies enable real-time monitoring, automated incident response, and predictive threat intelligence, empowering organizations to stay ahead of emerging threats.
- Focus on Core Business Activities: By outsourcing their security operations to SOC as a Service providers, organizations can free up internal resources and focus on their core business activities. This allows them to allocate their time and efforts towards strategic initiatives and revenue-generating activities, while leaving the security management to the experts.
Restraint:
Concerns about Data Security and Privacy: Organizations may have concerns about entrusting their sensitive data and security operations to a third-party SOC as a Service provider. Data breaches or mishandling of confidential information by the provider can lead to reputational damage and regulatory non-compliance. This concern is particularly relevant in industries where data privacy and compliance are critical, such as healthcare, finance, and government sectors. To address this restraint, SOC as a Service providers must demonstrate robust security measures, compliance with industry regulations, and transparent data handling practices to gain the trust of potential customers.
Opportunity:
- Increasing Adoption of Cloud Services: With the growing adoption of cloud computing, organizations are shifting their infrastructure and applications to the cloud. This presents an opportunity for SOC as a Service providers to offer cloud-native security solutions that can seamlessly integrate with cloud environments. By providing SOC services specifically designed for cloud environments, providers can address the unique security challenges associated with cloud computing, such as data protection, access control, and visibility across multiple cloud platforms.
- Rise in Remote Workforce: The COVID-19 pandemic has accelerated the adoption of remote work arrangements, with many organizations transitioning to remote or hybrid work models. This shift has created new security challenges as remote workers access corporate networks and sensitive data from various locations and devices. SOC as a Service providers can seize this opportunity by offering remote monitoring and threat detection services tailored to support the security needs of remote workforces. This includes secure remote access solutions, endpoint security, and user behavior analytics to identify potential threats originating from remote locations.
- Increasing Complexity of Cyber Threats: Cyber threats are becoming more sophisticated and complex, making it challenging for organizations to keep up with evolving threats and vulnerabilities. SOC as a Service providers can capitalize on this opportunity by offering advanced threat intelligence, predictive analytics, and machine learning capabilities to detect and respond to emerging threats in real-time. By leveraging these technologies, providers can help organizations stay ahead of attackers and enhance their overall security posture.
- Compliance and Regulatory Requirements: Organizations across industries face a growing number of compliance and regulatory requirements related to data protection and privacy. SOC as a Service providers can position themselves as trusted partners in helping organizations meet these requirements. By offering compliance monitoring, reporting, and auditing services, providers can assist organizations in maintaining regulatory compliance and avoiding penalties. This opportunity is particularly significant in industries such as healthcare, finance, and government, where compliance standards are stringent.
- Integration with Managed Security Services: SOC as a Service can be integrated with other managed security services, such as managed detection and response (MDR) and security information and event management (SIEM). This integration allows organizations to have a comprehensive security solution, combining the capabilities of SOC as a Service with other managed security services. SOC as a Service providers can expand their offerings by partnering with or acquiring other managed security service providers to provide a holistic and integrated security solution.
About The Authors
Hongjichi - Lead Author
Email: hongjichi@qyresearch.com
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.
Contact Us:
If you have any queries regarding this report or if you would like further information, please contact us:
QY Research Inc.
Add: 17890 Castleton Street Suite 369 City of Industry CA 91748 United States
EN: https://www.qyresearch.com
Email: global@qyresearch.com
Tel: 001-626-842-1666(US)
JP: https://www.qyresearch.co.jp