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.
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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.
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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.
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