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Security Operation Center as a Service (SoCaaS) Market Size - By Service Type (Prevention Services, Detection Services, Incident Response Services), Threat Type, Offering, Organization Size, Application, Industry Vertical & Global Forecast, 2023 - 2032

Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format

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Security Operation Center as a Service (SoCaaS) Market Size - By Service Type (Prevention Services, Detection Services, Incident Response Services), Threat Type, Offering, Organization Size, Application, Industry Vertical & Global Forecast, 2023 - 2032

SOC as a Service Market Size

Security Operation Center as a Service Market was worth USD 5.8 billion in 2022 and is projected to grow at a CAGR of more than 11% from 2023 to 2032. The increasing number of cyberattacks is fueling the need for Security Operation Center (SOC) as a service. As the threat of cyberattacks increases, companies are looking for specialized security services.

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As per the Government of United Kingdom, in a cyber security breaches survey, 38% of micro & small firms in the UK were victims of a cyberattack in 2022. Of these firms, 82% said that there were attempts at phishing, and 25% suffered more sophisticated attacks in the form of denial of service, malware, or ransomware attacks. This emerging requirement for effective cybersecurity measures amidst rising cyberattacks is driving demand for SOC as a service and making it a key solution for companies globally.

 

Security Operation Center as a Service Market Report Attributes
Report Attribute Details
Base Year 2022
Security Operation Center as a Service Market Size in 2022 USD 5.8 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 11%
2032 Value Projection USD 16.5 Billion
Historical Data for 2018 - 2022
No. of Pages 300
Tables, Charts & Figures 479
Segments covered Threat type, Service type, Offering, Organization size, Application, and Industry vertical
Growth Drivers
  • Rising frequency of cyberattacks across the globe
  • Increased number of remote workers
  • Shortage of cybersecurity talent in developing countries
  • Growing cloud adoption among SMEs
  • Rising demand for cybersecurity monitoring solutions
Pitfalls & Challenges
  • SOC systems can generate false positives
  • Data privacy concerns

What are the growth opportunities in this market?

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Growing needs for applications like cybersecurity monitoring, incident response, threat intelligence, compliance management, vulnerability management, log analysis, phishing detection, cloud security, endpoint security, and network security are boosting the growth of the security operation center as a service market. As cyberattacks get more sophisticated & common, companies in various industries will acknowledge the need for effective security mechanisms. SOC as a service providers provide specialized expertise, real-time monitoring, and instant response abilities, thus satisfying the increasing demand for end-to-end cybersecurity solutions. This growing demand is driving the market growth, guaranteeing the digital security of organizations.

The concerns over data privacy in the SOC as a service market are growing as a result of the fears surrounding the sharing of sensitive data with third-party service providers. Companies, particularly those handling sensitive customer information or intellectual property, are concerned about unauthorized access and breaches. Compliance with the data protection laws like the GDPR in Europe further complicates matters. SOC service providers have to reassure clients of sound security controls, open data-handling practices, and strict compliance with relevant laws to mitigate such concerns and instill confidence in them.

COVID-19 Impact
The pandemic of COVID-19 had a positive effect on the security operation center as a service market. The mass shift to remote working made organizations more vulnerable, enhancing the demand for strong cybersecurity processes. Consequently, companies increasingly looked towards SOC services to protect their scattered networks and safeguard sensitive information. The increase in awareness about cybersecurity threats due to the pandemic boosted the pace of adoption for SOC solutions, thus propelling market size. The scalability and flexibility of the SOC as a service offering were crucial to those companies changing with the emerging digital environment.

SOC as a Service Market Trends
Artificial intelligence (AI) is revolutionizing the cybersecurity sector by facilitating the detection and response to threats more easily and effectively. AI-driven SOC (Security Operations Center) services are spearheading this revolution through the use of advanced algorithms to process huge volumes of data in real-time. This technology is already showing its impact. Consider Vectra AI, for instance. They just partnered with Neutron Engineering to introduce a revolutionary SOC as a Service solution. Through the union of Vectra's AI-powered detection functionality with Neutron's engineering and service delivery expertise, they've developed a significant solution that's enabling companies to stay ahead of cyberattacks. As companies grow more aware of proactive cybersecurity, there will be increasing demand for AI-powered SOC services. This will fuel extensive growth in the SOC as a service market.

The mass implementation of the remote work pattern is propelling the SOC as a service revenue market. With employees being dispersed across various locations, the attack surface area for cyber attacks has grown considerably. Enterprises are relying on SOC as a service for maintaining continuous monitoring, threat discovery, and quick response capabilities. These services offer cloud businesses scalable & customized security solutions, which aid in protecting their networks and information; this is also fueling the demand for SOC as a service in today's changing digital environment.

SOC as a Service Market Analysis
Discover more about the major segments influencing this market

By organization size, the large enterprises segment held a share of about USD 1.7 million revenue in 2022. Partnerships with cutting-edge technology providers and cybersecurity specialists are enabling these enterprises to broaden their potential. For example, in July 2023, LogRhythm signed an agreement with Infoline Tec Group Berhad, a renowned IT infrastructure & cybersecurity services provider. With this collaboration, Infoline will launch its Security Operations Centre (SOC) in Malaysia by incorporating LogRhythm's SIEM technology. This initiative will help improve cybersecurity services, offering organizations sophisticated solutions for threat detection & response in the region.

Discover more about the major segments defining this market

In business, banks, financial institutions, and insurance firms (referred to as the BFSI sector) have a significant requirement for security. In 2022, a quarter of all security operations centers (SOCs) were utilized by the BFSI industry. A SOC is essentially a command center that keeps an eye on your company's security. In the BFSI industry, one of the most critical things the SOC does is keep an eye on financial transactions. It's like having a super intelligent security guard constantly scanning every transaction for anything out of the ordinary. The SOC is constantly looking for unusual patterns or something that doesn't add up, such as when someone attempts to initiate a large number of transactions from various locations or at unusual times. When it detects something suspicious, it raises an alarm so that the bank or financial institution can act on it. This constant monitoring not only helps stop fraud and unauthorized activities from happening, but it also keeps customers happy and protects the reputation of the BFSI institutions. In today's digital world, where everything is connected, it's more important than ever to make sure your financial operations are safe and sound.

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North America SOC as a Service market garnered over 35% of the revenue share in 2022. North America's fast adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and big data analytics is driving the market growth. Companies in the region use these technologies to improve threat detection capabilities, offering real-time monitoring and response. This sophisticated technological environment creates a favorable ground for SOC service providers to innovate and provide advanced solutions, thus appealing to those businesses looking for cutting-edge cybersecurity solutions to protect their digital assets in a changing threat environment.

SOC as a Service Market Share

The major companies operating in the SOC as a service industry are

NTT Security Ltd. dominates the market with a prominent revenue share of over 5%. The leading SOC as a service providers leverage AI for advanced threat detection and response, enhancing the overall security posture. Through strategic partnerships with technology firms and cybersecurity experts, these providers ensure seamless integration of AI-driven tools, thereby fostering trust among clients and assisting in the building of a clientele.

SOC as a Service Industry News

  • In February 2023, Virtual Infosec Africa, in collaboration with LogRhythm, launched the Nextgen SIEM-SOC cybersecurity service, designed to safeguard the data of organizations against potential cyber threats & disruptions. This advanced service incorporates Artificial Intelligence (AI), enabling the detection & prevention of cyber threats while ensuring the protection of data for various organizations and institutions.

The security operation center as a service (SoCaaS) market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032, for the following segments

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Market, By Threat Type

  • Advanced Persistent Threats (APTS)
  • Insider threats
  • Distributed Denial of Service (DDOS) attacks
  • Malware & ransomware
  • Phishing & social engineering attacks
  • Others

Market, By Service Type

  • Prevention service
  • Detection service
  • Incident response service

Market, By Offering

  • Fully managed
  • Co-managed

Market, By Organization Size

  • Large enterprises
  • SMEs

Market, By Application

  • Network security
  • Cloud security
  • Endpoint security
  • Application security
  • Others

Market, By Industry Vertical

  • BFSI
  • Healthcare
  • Government
  • Manufacturing
  • Energy & utilities
  • IT & telecom
  • Transportation & logistics
  • Others

The above information has been provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
    • Nordics
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

 

Related Reports

Table of Content

Here’s a Table of Contents (ToC) for a report on the Security Operation Center as a Service (SoCaaS) Market:

Table of Contents

  1. Executive Summary

    • Market Overview

    • Key Findings

    • Market Trends and Opportunities

  2. Introduction

    • Definition of SoCaaS

    • Scope of the Report

    • Research Methodology

  3. Market Dynamics

    • Market Drivers

    • Market Restraints

    • Opportunities and Challenges

  4. Market Segmentation

    • By Component

      • Solutions

      • Services

    • By Deployment Model

      • Cloud-based

      • On-premises

    • By Enterprise Size

      • Small & Medium Enterprises (SMEs)

      • Large Enterprises

    • By Industry Vertical

      • BFSI

      • Healthcare

      • IT & Telecom

      • Government & Defense

      • Retail & E-commerce

      • Others

  5. Regional Analysis

    • North America

    • Europe

    • Asia-Pacific

    • Latin America

    • Middle East & Africa

  6. Competitive Landscape

    • Market Share Analysis

    • Key Players and Company Profiles

    • Recent Developments & Strategies

  7. Market Forecast and Future Trends

    • Growth Projections

    • Emerging Technologies

    • Regulatory and Compliance Impact

  8. Case Studies and Use Cases

    • Successful Implementations

    • Industry Best Practices

  9. Conclusion and Recommendations

  10. Appendix

  • List of Abbreviations

  • References

 

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