SOC (Security Operations Center) as a Service Market to Reach $9.9 Billion, Globally, by 2031 at 8.2% CAGR: Allied Market Research

Rise in demand for work-from-home and remote working policies since the COVID-19 pandemic, which has propelled the demand for better security and endpoint management policies, and the increasing number of cyber-attacks drive the growth of the global SOC as a service market.

PORTLAND, Ore., Dec. 6, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "SOC as a Service Market By Service Type (Prevention Services, Detection Services, Incident Response Services), By Enterprise Size (Large Enterprises, SMEs), By Application Area (Network Security, Endpoint Security, Application Security, Database Security, Others), By Industry Vertical (BFSI, Healthcare, Government and Public Sector, IT and Telecom, Retail, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global SOC as a service industry is estimated to generate $4.6 billion in 2021 and $9.9 billion by 2031, witnessing a CAGR of 8.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Download Free Sample Report at:

https://www.alliedmarketresearch.com/request-sample/14913

Drivers, Restraints and Opportunities

Rise in demand for work-from-home and remote working policies since the COVID-19 pandemic which has propelled the demand for better security and endpoint management policies, and the increasing number of cyber-attacks and fraud cases fuel the growth of the global SOC as a service market. However, data privacy and customization challenges of SOC as service platforms hinder the market growth. On the other hand, the development of advanced communication technologies such as 5G communication networks and cloud technology present new opportunities in the market in the coming years.

Covid-19 Scenario

• The global SOC as a service market witnessed a stable growth during the COVID-19 pandemic, owing to rise in the drift of work from home and remote working trends during the period.
  
  
• Moreover, business organizations were busy handling the impact of the COVID-19 pandemic and additional security & risk management considerations that became apparent during the period. This, in turn, heightened the demand for building advanced security operation centers to monitor the spectrum of an organization's IT infrastructure, including network, endpoints, and cloud.

The prevention services segment to dominate the market in terms of revenue during the forecast period

Based on service type, the prevention services segment contributed to the largest share of more than two-fifths of the global SOC as a service market in 2021, and is expected to lead the trail during the forecast period. This is owing to the high demand for preventive security solutions globally. However, the detection services segment is projected to witness the fastest CAGR of 8.9% from 2022 to 2031. This is owing to the growing demand for detection security services worldwide.

The large enterprises segment to maintain its lion's share during the forecast period

Based on enterprise size, the large enterprises segment held the largest share of three-fourths of the global SOC as a service market in 2021, and is expected to maintain a prominent growth during the forecast period, owing to the large-scale operations of SOC as a service in large enterprises. However, the SMEs segment is likely to exhibit the highest CAGR of 10.2% in 2031. This is owing to the growing innovations in SMEs.

The network security segment to garner the largest revenue by 2031

Based on application area, the network security segment was the largest market in 2021, accounting for more than one-third of the global SOC as a service market, and is likely to lead the trail throughout the forecast period. This is owing to the growing need for network security solutions globally. However, the endpoint security segment is anticipated to manifest the fastest CAGR of 11.9% during the forecast period. This is due to the growing remote working trends worldwide.

Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/14913

North America to garner the largest revenue by 2031

Based on region, North America was the largest market in 2021, accounting for more than two-fifths of the global SOC as a service market, and is anticipated to manifest the largest revenue growth during the forecast period, owing to the growing number of cyber-attacks in the region. However, the market in Asia-Pacific is likely to grow at the fastest CAGR of 9.1% during the forecast period, due to the adoption of innovation technologies and advancements in the retail sector in the region.

Leading Market Players

• Atos SE
• AT&T
• IBM CORPORATION
• NTT Ltd.
• Cloudflare, Inc.
• Fortinet Inc.
• Arctic Wolf Networks
• Verizon International
• Check Point Software Technologies
• Thales

The report analyzes these key players of the global SOC as a service market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Buy this Report at:

https://www.alliedmarketresearch.com/checkout-final/47ee00d4987ae1a26e6f1d0415c0bdd4

Trending Reports in ICT & Media Industry (Book Now with 10% Discount):

Mobile Application Market Expected to Reach $ 407.31 billion by 2026

Online/Virtual Fitness Market Expected to Reach $59.23 Billion by 2027

Fitness App Market Expected to Reach $120.37 Billion by 2030

Healthcare Analytics Market Expected to Reach $96.90 Billion by 2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/information-and-communication-technology-and-media
Follow Us on Blog: https://www.technologyplz.com/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/soc-security-operations-center-as-a-service-market-to-reach-9-9-billion-globally-by-2031-at-8-2-cagr-allied-market-research-301695680.html