Increasing penetration of internet and growing demand for connected devices increases chances of being attacked online. With significant rise in sophisticated cyber-attacks, the demand for SOC as a service (security operations centre) has increased tremendously. Moreover, cumbersome administration after threat detection has also fueled demand in the global SOC as a service (security operations centre) market.

Adding further, increasing dynamicity in business environment has encouraged organizations to adopt SOC as a service (security operations centre) solution for ensure better security for their data. Also, the indispensable need for compliance with different regulatory alliance such as GDPR, PCIDSS, and HIPAA will ensure the growth in this market. 

With all these parameters being intact, geographical reach of SOC as a service (security operations centre), current trend in the market, and different ways adopted by key market participants will also influence the growth in the global SOC as a service (security operations centre) market. Systematic presentation all these information will give a clear insight about the market’s growth. 

Global SOC as a Service (Security Operations Centre) Market: Notable Developments 

Key players in the global SOC as a service (security operations centre) market are engaged in enhancing SOC as a service (security operations centre). They are involved in different organic and inorganic activities to get a larger share in the global market. They are also improving security services to provide better security to their customers. 

  • Alert Logic introduced a new SIEMless Threat Management to address compliance risks, cybersecurity threats, and other common resource constraints. This solution will work 24*7 for threat detection, have assigned SOC analyst support, and comprehensive Web Application Firewalls (WAFs). 
  • Lately, Arctic Wolf Networks collaborated with Advance Financial to offer AWN CyberSOC, its cloud-based solution for Advance Financial customers. The aim of this solution is to provide continuous security monitoring, and will comply with Advance Financial regulations. 

Besides, these there are various other companies that are also putting huge efforts in enhancing SOC as a service (security operations centre). In the global SOC as a service (security operations centre) market report, provides detailed information about the players and business development strategies used by them. It include Proficio, BlackStratus, Thales e-Security, Cygilant, Alert Logic, Arctic Wolf Networks, Netmagic Solutions, ESDS Software Solution, AQM Technologies, and Suma. 

Global SOC as a Service (Security Operations Centre) Market: Trends and Opportunities 

Increasing adoption of cloud-based solutions across SMEs is the key factor driving demand in the global SOC as a service (security operations centre) market. Leveraging machine learning, artificial intelligence, and blockchain technologies for cyber defense has further opened new growth avenues in this market. 

But there is also the need to tackle scarcity of skilled cyber security professionals to meet the growing need for advanced cyber security solutions. Moreover, uncertainty faced by organizations related to cloud-based security services is expected to be addressed. 

Establishing Large Number of SMEs to Benefit Growth of SOC as a Service (Security Operations Centre)

Geographically, North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America are the key regions covered in the global SOC as a service (security operations centre) market. Among these regions,

North America is expected to hold dominant share in this market. Presence of several vendors providing SOC as a service (security operations centre) and early adoption of SOC as a service (security operations centre) are the major regions behind the dominance of North America in the global SOC as a service (security operations centre) market. Multiple businesses in the region are implementing SOC as a service (security operations centre) at a significant rate to prevent threats at an early stage. 

Asia Pacific is also expected to hold significant share due to increasing adoption of advanced technology. Moreover, growing number of startups across the region and supportive government policies has strengthened Asia Pacific position in the global SOC as a Service market.  Establishing large number of SMEs to cater high demand from large customer base has fueled growth in this market. Moreover, increasing sophisticated cyber-attacks in China, Japan, and India are introducing new national cyber security policies, thus, triggering demand for SOC as a service (security operations centre). 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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