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 - Market Trends, Analysis, and Forecast till 2030

Security Operations Center Market accounted for USD 36.23 Billion in 2020 and is estimated to be USD 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. SOC teams may cooperate with other departments and workers, as well as with professional third-party IT security vendors. Organizations must define an overarching cyber security strategy that corresponds with their business objectives and issues before establishing a SOC. Many major firms have their own security operations center, but others choose to outsource their security operations to a third-party managed security services provider.

Growing requirement for protection against cyber-attacks will drive the growth of the Market

Data is analyzed in real time using direct feeds from enterprise systems. To guard against cyber-attacks, artificial intelligence is integrated with log scanning techniques. SOC technologies allow for continuous monitoring and scanning of an organization's resources in order to detect potential threats and suspicious activities. The security operations center must include alert management, root cause analysis, and compliance audits. 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.

Security Operations Center Market is segmented based on enterprise size, end-user industry and region.

On the basis of Enterprise Size, the Global Security Operations Center Market is segmented into Small and Medium Enterprises, Large Enterprises. Based on End-User Industry, the target market is segmented into IT and Telecom, BFSI, Pharmaceutical, Manufacturing, Public Sector.

Regional Insights:

On region the Global Security Operations Center Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to presence of many important SOCaaS vendors in the region, such as SecureWorks Inc., Atos SE, BAE Systems PLC, FireEye Inc., and others, the North American region is projected to dominate the market during the forecast year. The SOCs' major priority will continue to be cybersecurity. Hackers are always improving their cyberattacks to make them more evasive and dangerous. For instance, According to the Identity Theft Resource Center, there were a total of 1001 data breaches in the United States in 2020. Furthermore, in 2020, a significant cyberattack supported by a foreign government breached hundreds of organizations around the world, including multiple elements of the US federal government, resulting in a series of data breaches.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Security Operations Center Market report based on Enterprises size, End-User Industry and region.

Global Security Operations Center Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

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. In June 2021, Secureworks Inc. introduced the Secureworks Technology Alliance Partner programme, which extends the Taegis ecosystem and data integrations to expedite threat detection for all Taegis clients. Secureworks Technology Alliance Partners can now create robust, integrated security solutions by adding their own Taegis connectors.

• Cisco Systems, Inc.
• Capgemini SE
• NetMagic Solutions Pvt. Ltd.
• Alert Logic Inc.
• SecureWorks Inc.
• IBM Corporation
• Verizon Communications Inc.
• British Telecom Group PLC