Global SOC as a Service (SOCaaS) Market Insights 2020-2025: Surge in Trends such as BYOD, CYOD and WFH - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "SOC as a Service Market by Component, Service Type (Prevention, Detection, & Incident Response), Offering Type (Fully Managed & Co-managed), Application Area (Network Security & Endpoint Security), Industry Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global SOC as a Service Market is projected to grow from USD 471 million in 2020 to USD 1,656 million by 2025, at a Compound Annual Growth Rate (CAGR) of 28.6% during the forecast period. The increasing venture capital funding and growing investments in SOC as a Service technology to drive the market growth.

Major vendors include AlienVault (US), BlackStratus (US), Cygilant (US), Thales E-security (France), Alert Logic (US), Proficio (US), Netmagic (India), Arctic Wolf Networks (US), AqmTechnologies (India), ESDS Software Solution (India), Suma Soft (India), GA Systems (Australia), Expel (US), Radar Cyber Security (Austria), Stratozen (US), Fortinet (US), Binary Defense (US).

By component, services segment to grow at a higher cagr during the forecast period.

The services include the support offered by security vendors to assist their customers in using and maintaining SOCaaS efficiently. Vendors offer different services, such as consulting, training and education, and support and maintenance. The services segment has witnessed tremendous growth in recent years. Therefore, the services segment registers the highest growth rate during the forecast period.

By service type, the detection service segment to register the highest growth rate during the forecast period.

The detection service provides the ability to detect fraudulent activities across enterprise networks rapidly and responds to cyber incidents quickly and effectively. It also provides reports on security-related incidents and events and sends alerts on analyzing any malicious activity. Therefore, the detection service segment holds the highest growth rate during the forecast period.

The Asia Pacific to register the highest growth rate during the forecast period.

The Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global SOC as a Service market during the forecast period. APAC constitutes major economies, such as China, Japan, Singapore, and Australia and New Zealand, which are expected to register high growth rates in the SOC as a Service market.

Industries such as financial institutions, government and public sector, healthcare, retail, manufacturing, energy and utilities, and others are expected to adopt SOC as a Service solution at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.

Key Topics Covered

1 Introduction

1.1 Introduction to COVID-19

1.2 COVID-19 Health Assessment

1.3 COVID-19 Economic Assessment

1.4 Objectives of the Study

1.5 Market Definition

1.6 Market Scope

1.7 Currency Considered

1.8 Stakeholders

1.9 Change in Market Outlook

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the SOC as a Service Market

4.2 Market, by Component, 2020 Vs. 2025

4.3 Market, by Service, 2020 Vs. 2025

4.4 Market, by Service Type, 2020 Vs. 2025

4.5 Market, by Offering Type, 2020 Vs. 2025

4.6 Market, by Application Area, 2020 Vs. 2025

4.7 Market, by Industry Vertical, 2018-2025

4.8 Market Investment Scenario

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Exponential Rise in Security Breaches and Sophisticated Cyber Attacks Across Enterprises

5.2.1.2 Higher Costs Accrued due to Endpoint Attacks

5.2.1.3 Cumbersome Administration After Threat Detection

5.2.1.4 Surge in Trends such as BYOD, CYOD, and WFH

5.2.1.5 Rapid Growth of Cybersecurity Incidents Across the Globe During the COVID-19 Pandemic

5.2.2 Restraints

5.2.2.1 Uncertainty About Cloud-Based Security Services Among Organizations

5.2.2.2 Lack of Trust Among Enterprises to Allow Full Control of System Architecture to SOCaaS Providers

5.2.2.3 Use of Free or Pirated Endpoint Protection Solutions

5.2.3 Opportunities

5.2.3.1 Mandate to Follow Regulatory and Data Protection Directives for Cyber Defense

5.2.3.2 Increase in the Adoption of Cloud-Based Solutions Across SMEs

5.2.3.3 Use of AI, Machine Learning, and Blockchain Technologies to Leverage Benefits for Cyber Defense

5.2.4 Challenges

5.2.4.1 Scarcity of Skilled Cybersecurity Professionals Among Enterprises

5.2.4.2 High Cost of Innovation and Budget Constraints

5.2.4.3 Difficulty in Addressing the Complexity of Advanced Threats

5.2.4.4 Lack of Standardized Log Format

5.3 COVID-19-Driven Market Dynamics

5.3.1 Drivers and Opportunities

5.3.2 Restraints and Challenges

5.3.3 Cumulative Growth Analysis

5.4 Regulatory Implications

5.4.1 General Data Protection Regulation

5.4.2 Payment Card Industry-Data Security Standard

5.4.3 Health Insurance Portability and Accountability Act

5.4.4 Gramm-Leach-Bliley Act

5.4.5 Sarbanes-Oxley Act

5.4.6 SOC2

5.5 Use Cases

5.5.1 Adoption of SOC as a Service for Maintaining Network Security Parameters

5.5.2 Dependence of Hi-Tech Semiconductor Equipment Supplier on Security Event Monitoring System

5.5.3 Demand for Cost-Effective Solution Among Healthcare Industry to Reduce Data Breach Risks

5.5.4 Oil & Gas Conglomerate Wanted to Protect Valuable Network

5.5.5 Protecting Industries from Cybersecurity Attacks by Eliminating Cyber Threats

5.6 Value Chain

5.7 Ecosystem

5.8 Adjacent Markets

6 SOC as a Service Market: COVID-19 Impact

6.1 Introduction

6.2 COVID-19 Developments

7 SOC as a Service Market, by Component

7.1 Introduction

7.2 Solutions

7.3 Services

7.4 Consulting

7.5 Training and Education

7.6 Support and Maintenance

8 SOC as a Service Market, by Service Type

8.1 Introduction

8.2 Prevention Service

8.3 Detection Service

8.4 Incident Response Service

9 SOC as a Service Market, by Offering Type

9.1 Introduction

9.2 Fully Managed

9.3 Co-Managed or Hybrid

10 SOC as a Service Market, by Application Area

10.1 Introduction

10.2 Network Security

10.3 Endpoint Security

10.4 Database Security

10.5 Others

11 SOC as a Service Market, by Industry Vertical

11.1 Introduction

11.2 Banking, Financial Services, and Insurance

11.3 Government and Public Sector

11.4 IT and Telecom

11.5 Healthcare

11.6 Retail

11.7 Manufacturing

11.8 Energy and Utilities

11.9 Others

12 SOC as a Service Market by Region

12.1 Introduction

12.2 North America

12.3 Europe

12.4 Asia Pacific

12.5 Middle East and Africa

12.6 Latin America

13 Competitive Landscape

13.1 Introduction

13.2 Market Evaluation Framework

13.3 Revenue Analysis of Top Market Players

13.4 Competitive Leadership Mapping, 2020

13.4.1 Visionary Leaders

13.4.2 Innovators

13.4.3 Dynamic Differentiators

13.4.4 Emerging Companies

13.5 Startup/SME Evaluation Matrix, 2020

13.5.1 Progressive Companies

13.5.2 Responsive Companies

13.5.3 Dynamic Companies

13.5.4 Starting Blocks

13.6 Ranking of Key Players in the Socaas Market, 2020

14 Company Profiles

14.1 Introduction

14.2 Alienvault (AT&T Cyber Security)

14.3 Blackstratus

14.4 Cygilant

14.5 Thales e-Security

14.6 Alert Logic

14.7 Proficio

14.8 Netmagic Solutions

14.9 Arctic Wolf Networks

14.10 AQM Technologies

14.11 ESDS Software Solution

14.12 Suma Soft

14.13 GA Systems

14.14 Expel

14.15 Radar Cyber Security

14.16 Stratozen

14.17 Fortinet

14.18 Binary Defense

14.19 Blokworkx

14.20 Esentire

14.21 Continuum

14.22 iArm Information Security

14.23 Critical Start

14.24 Cyberhat

14.25 Aristi

14.26 Secuvant

14.27 Cybersecop

14.28 Esec Forte

14.29 Inspira

14.30 Socsoter

14.31 Netsurion

14.32 Startup/SME Profiles

14.32.1 Bolton Labs

14.32.2 Cybersafe

14.32.3 Cyflare

14.32.4 Insoc

14.32.5 Veronym

14.32.6 Cysiv

14.32.7 iCyberDefence

14.32.8 Avertium

14.32.9 Tracelay

14.32.10 Polylogyx

14.32.11 Cycraft

14.32.12 Cybourn

14.32.13 22KN

14.32.14 Cyfor Secure

14.32.15 Rocketcyber

For more information about this report visit https://www.researchandmarkets.com/r/cg461z