Security Operations Center Market is estimated to be US$ 107.76 billion by 2030 with a CAGR of 11.50% during the forecast period

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Published Date: May 2023

Security Operations Center Market accounted for US$ 36.23 billion in 2020 and is estimated to be US$ 107.76 billion by 2030 and is anticipated to register a CAGR of 11.50%. A security operations center, or SOC, is a group of IT security specialists who monitor, detect, analyses, and investigate cyber threats on behalf of the enterprise. Networks, servers, computers, endpoint devices, operating systems, apps, and databases are all monitored for symptoms of a cyber-security breach. The SOC team examines feeds, creates rules, discovers exceptions, improves responses, and monitors for new vulnerabilities. SOCs typically work in shifts around the clock to ensure a quick reaction to any new threats, given that technology systems in modern organizations run 24 hours a day, 7 days a week.

The report " Global Security Operations Center Market, By Enterprise Size (Small and Medium Enterprises, Large Enterprises), By End-user Industry (IT and Telecom, BFSI, Pharmaceutical, Manufacturing, Public Sector), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

In August 2020, Alert Logic announced the launch of a new layer of its Partner Connect programme, which is designed to help managed service providers (MSPs) deliver advanced cybersecurity services to their customers in a seamless manner. MSPs may use Alert Logic's best-in-class security solution and exclusive resources to optimise unit economics and market expansion at scale through the industry's first managed detection and response (MDR) partner programme.
Accenture bought Symantec's Cyber Security Services division from Broadcom, Inc. in January 2020. Global threat monitoring and analysis via a network of security operation centres, real-time adversary and industry-specific threat information, and incident response services are all part of Symantec's Cyber Security Services offering

Analyst View:

This market is being driven by the growing requirement for protection against cyber-attacks and data breaches among various major and small organizations. There has been an upsurge in the number of companies using security operations centers to monitor and analyses data activities on a continuous basis. The growing demand for improved threat management and centralized safety operations is propelling this market forward.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Security Operations Center Market, By Enterprise Size (Small and Medium Enterprises, Large Enterprises), By End-user Industry (IT and Telecom, BFSI, Pharmaceutical, Manufacturing, Public Sector), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”

Key Market Insights from the report:

Global Security Operations Center Market accounted for US$ 36.23 billion in 2020 and is estimated to be US$ 107.76 billion by 2030 and is anticipated to register a CAGR of 11.50%. The Global Security Operations Center Market is segmented based on enterprise size, end-user industry and region.

Based on Enterprise Size, Global Security Operations Center Market is segmented into Small and Medium Enterprises, Large Enterprises.
Based on End-User Industry, Global Security Operations Center Market is segmented into IT and Telecom, BFSI, Pharmaceutical, Manufacturing, Public Sector.
By Region, the Global Security Operations Center Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Security Operations Center Market:

The key players operating in the security operations center market are Cisco Systems, Inc., Capgemini SE, NetMagic Solutions Pvt. Ltd., Alert Logic Inc., SecureWorks Inc., IBM Corporation, Verizon Communications Inc., British Telecom Group PLC, F5 Networks, Inc., Fortinet, Inc., Broadcom Inc., Cygilant Inc., and BlackStratus Inc. Many key players are launching new products, acquisitions and merger which drives the market. For instance, METCloud and Cygilant Inc. joined in June 2021 to build the greatest cyber surveillance tools. With the integration of LogPoint, SentinelOne, and Qualys, this new cooperation will boost overall security capabilities for METCloud clients. This provides for rapid threat detection, response, and mediation, as well as a better knowledge of a company's threat risk and priority when it comes to patching vulnerabilities. The comprehensive set of services will be delivered by a Security Operations Centre (SOC) situated in the United Kingdom, which will give users with dedicated support 24 hours a day, seven days a week.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period