SOC as a Service Market projected to achieve a CAGR of 10.14% to reach US$15.388 billion by 2030.

The security operations center (SOC) as a service market is anticipated to grow at a CAGR of 10.14% from US$9.492 billion in 2025 to US$15.388 billion by 2030.

NOIDA, UTTAR PRADESH, INDIA, November 25, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the SOC as a service market is projected to grow at a CAGR of 10.14% between 2025 and 2030 to reach US$15.388 billion by 2030.

The market for security operations centers as a service market is propelled by increased levels of internet usage around the world. The world is connected with the digital format and most data are shared online. Due to this, there has been an increased cybersecurity risk, which is compelling organizations to have a better cybersecurity network among them. According to ITU (International Telecommunication Union) estimates, approximately 5.4 billion people, or 67 percent of the world’s population are using the Internet in 2023, this figure was 5.1 billion people, or 64 percent a year ago.

Moreover, according to the FBI’s Internet Crime Complaint Center (IC3), the loss due to cybersecurity threats has increased from US$6.9 Billion in 2021 to US$10.3 Billion in 2022 in the United States. With the continuous advancement of technology, new vulnerabilities and threats emerge, thus the proliferation of the Internet, cloud computing, and the Internet of Things created a larger attack surface for cybercriminals to exploit.

Further, the increased number of payment transactions has created a demand for secured gateways. In India, during the FY 2022-23, digital payment transactions have reached 13,462 crore which was earlier 8,839 crore in FY 2021-22. In the first half of 2023, the number of e-money payment transactions within the euro area increased by 6.9% to 4.4 billion compared with the first half of 2022. This payment transaction included card payments, credit transfers, direct debits, e-money payments, accepting devices, etc.

Access sample report or view details: https://www.knowledge-sourcing.com/report/soc-as-a-service-market

Based on service type, the security operations center as a service market is divided into SaaS and PaaS. PaaS can provide a platform for developing applications for security operations, while SaaS provides ready-to-use application software for easier application. SaaS can be used directly within the organizations.

Based on application, the security operations center as a service market is divided into network security, endpoint security, database security, application security, and others. Network security is needed for better infrastructure and government services. DOJ (Department of Justice)'s Security Operations Center as a Service (SOCaaS) delivers 24x7x365 threat monitoring, detection and incident response, threat intelligence, and cybersecurity investigations to customers. This is done via the Justice Security Operations Center (JSOC). The database security is very beneficial for the healthcare services provider in the world.

Moreover, the need for a security operations center for the different industry verticals such as BFSI, healthcare, retail, manufacturing, IT and telecom, and others has created demand for the services at various levels. Such as, in August 2024, Kyndryl announced it launched a Security Operations Center (SOC) in Bengaluru, India, that offers support and protection capabilities for the entire cyber threat lifecycle. The services would be using artificial intelligence, specifically machine learning and integrated automation systems.  According to a 2023 DSCI report, around 400 million cyber threats were detected across 8.5 million endpoints among Indian respondents. In 2023 only, cyberattacks and data breaches led to organizations in India losing $2.18 million worth of revenue, according to a Ponemon study.

Furthermore, in July 2024, SonicWall announced it rolled out its new Managed Security Services suite for European Managed Service Providers (MSPs), Managed Security Service Providers (MSSPs), and other partners. These are all backed by a locally-based 24x7x365 Security Operations Center (SOC) providing a local understanding of regional cyber threats and response capabilities.

Based on geography, North America is segmented into the United States, Canada, and Mexico. In the United States, according to the FBI’s Internet Crime Complaint Center (IC3), there were phishing incidents of 300,497, further personal data breach cases were 58,859, and non-payment/non-delivery cases were 51,679. Besides, Johnson Controls announced the commercial availability of its Security Operations Centers service offering in the North American market. Johnson Controls designed services offering needs of onsite support or hybrid models. Common features provided by the SOC included standardized protocols, thorough assessments of an organization's people, processes, and technologies staffing support of 24/7/365, and auditing and reporting. As well, in March 2024, Eviden, announced the opening of its new Security Operations Center (SOC) in Monterrey, Mexico, to enable advanced cybersecurity services to organizations across North and South America.

As a part of the report, the major players operating in the security operations center (SOC) as a service market, that have been covered are Check Point Software Technologies Ltd., Clearnetwork, Inc., ConnectWise, LLC., CyberNX Technologies Pvt. Ltd, Thales, Verizon, NTT, Atos SE, Fortinet, and IBM.

The market analytics report segments the SOC as a service market on the following basis:

• By Service Type

o SaaS
o Paas

• By Application

o Network Security
o Endpoint Security
o Database Security
o Application Security
o Others

• By Industry Vertical

o BFSI
o Healthcare
o Retail
o Manufacturing
o IT and Telcom
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Check Point Software Technologies Ltd.
• Clearnetwork, Inc.
• ConnectWise, LLC.
• CyberNX Technologies Pvt. Ltd.
• Thales
• Verizon
• NTT
• Atos SE
• Fortinet
• IBM

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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