Security Operations Center as a Service Market
Security Operations Center as a Service Market Size, Share & Trends Analysis Report by Security Type (Hardware Security Modules (HSMs), Trusted Execution Environment (TEE), Security Updates and Patch Management and Secure Communication Protocols), and by Application (Smartphones, Automotive, Consumer Electronics, Healthcare, Telecommunication and Others) Forecast Period (2024-2031)
Security operations center as a service market is anticipated to grow at a significant CAGR of 14.6% during the forecast period (2024-2031).Cyber threat prevention, detection, investigation, and response are the responsibilities of a security operations center. An operations center handles potential threats to computer systems and sensitive data in addition to carrying out comprehensive network supervision for a business.The number of data breaches is rising, leading to an increased focus on the cybersecurity process.
Market Dynamics
Growing demand for cyber security in emerging countries
The volume and complexity of cyberattacks are rising quickly in emerging economies, and incident response teams are straining to find timely, skilled, and resource-rich solutions to prevent these kinds of attacks. Organizations are embracing new trends and innovations through digital transformation as a result of the unprecedented amount of security threats and dangers they face from growing workforces, clientele, and partners. IBM estimates that the average cost of a data breach in all industry verticals in 2020 was $67.7 million.
Rising usage of SOC in companies to prevent cyber-attacks
Businesses can fundamentally alter how they handle threats and hazards in their operational environments by putting in place an intelligent SOC and a strong security service management architecture. By giving them a comprehensive, end-to-end understanding of security threats, this strategy helps them respond more effectively and safeguards the organization's data. Furthermore, with proactive policy enforcement and audit & compliance reports, these solutions have made it easier to adhere to audit and compliance standards.
Market Segmentation
Our in-depth analysis of the global security operations center as a service market includes the following segments by security type, and application:
- Based on security type, the market is sub-segmented into hardware security modules (HSMs), trusted execution environment (TEE), security updates and patch management, secure communication protocols.
- Based on application, the market is sub-segmented into smartphones, automotive, consumer electronics, healthcare, telecommunication and others.
Hardware Security Modules (HSMs)is Projected to Emerge as the Largest Segment
Hardware security modules (HSMs) is essential to all the operations required by apps that handle sensitive data, including digital signatures or the security of a series of financial transactions.A growing number of industrial applications are driving the need for secure key management and strong encryption. The value of HSMs is now being recognized by a wide range of businesses, including telecommunications corporations, government agencies, and the finance and healthcare sectors. These organizations recognize the need of securing sensitive information in accordance with data protection requirements.
Automobile Sub-segment to Hold a Considerable Market Share
The automobile sector holds a 22.20% market share. The development of driverless vehicles and the growing trend of connected cars are mostly responsible for the same. As these sophisticated cars generate enormous amounts of data, it is necessary to implement robust security measures to prevent data from being intercepted or altered.
A cyberattack that targets the control systems of a connected car might also have very serious repercussions. For this reason, the car industry invests a lot of money in SOC solutions to reduce these risks and ensure that drivers and passengers have safe trips.
Regional Outlook
The globalsecurity operations center as a service market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Asia Pacific countries to invest in new age technologies
- China’s fast pace economic growth and agendas of digital transformation technologies exacerbate the demand for cybersecurity solutions to the fullest extent.
- Japan has a growing demand of the internet and paperless business, also there increasing cybercrime cases, and tough regulation requirements plays amajor role in the implementation of SOC security solutions.
Global Security Operations Center as a Service Market Growth by Region 2024-2031
North America Holds Major Market Share
Cybercriminals are continuously innovating their cyberattacks to make them more dangerous and destructive. The Identity Theft Resource Center reports that there were 1001 instances of data breaches in the US in 2020. The team at the security operations center (SOC) now faces additional complexity as a result of IoT. SOC employees must now comprehend the shades of cyberattacks that take advantage of the hyperconnectivity made possible by the deployment of enterprise IoT, adding to the challenges already posed by the constantly shifting cybersecurity landscape.According to a recent study, alert fatigue and false positives are the main causes of suffering for modern SOC difficulties.
Cisco projects that by 2023, the US will rank among the nations with the highest average per capita devices and connections. Furthermore, the US is currently the second-largest processor of IoT patent applications worldwide, behind China, with 37,595 IoT patent applications filed there as of this writing, according to IPlytics. These causes are anticipated to be an important catalyst for market expansion.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global security operations center as a service market include HiSilicon Technologies Co. Ltd., Ambarella, RochChip Electronics Co., STMicroelectronics, Marvell Technology, Inc. and AT&T Inc.,among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in January 2024, Bitdefender, opened a new security operations center (SOC) in Singapore, to meet customer needs and support the growth of Bitdefender Managed Detection and Response (MDR), Bitdefender Offensive Cybersecurity Services, and additional business security solutions. The new SOC has enhanced the Bitdefender’s ability to serve clients which are headquartered in Asia-Pacific, as well as multinational businesses with operations across the region.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global security operations center as a service market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Ambarella
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. HiSilicon Technologies Co. Ltd.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. RochChip Electronics Co.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Security Operations Center (SOC) as a Service Market by Security Type
4.1.1. Hardware Security Modules (HSMs)
4.1.2. Trusted Execution Environment (TEE)
4.1.3. Security Updates and Patch Management
4.1.4. Secure Communication Protocols
4.2. Global Security Operations Center (SOC) as a Service Market by Application
4.2.1. Smartphones
4.2.2. Automotive
4.2.3. Consumer Electronics
4.2.4. Healthcare
4.2.5. Telecommunication
4.2.6. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. The Middle East & Africa
6. Company Profiles
6.1. Alert Logic Inc.
6.2. AT&T Inc.
6.3. Atos SE
6.4. Broadcom Inc.
6.5. Capgemini Services SAS
6.6. CenturyLink Inc.
6.7. Cloudflare
6.8. ESDS
6.9. FireEye Inc.
6.10. Fortinet Inc.
6.11. Fortra
6.12. Fujitsu Ltd.
6.13. Lumen Technologies Inc.
6.14. Marvell Technology, Inc.
6.15. NTT Security Ltd.
6.16. SecureWorks Inc.
6.17. STMicroelectronics
6.18. Thales
6.19. Trustwave Holdings Inc.
6.20. Verizon Communications Inc.
1. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY SECURITY TYPE, 2023-2031 ($ MILLION)
2. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR HARDWARE SECURITY MODULES (HSMS) MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR TRUSTED EXECUTION ENVIRONMENT (TEE)MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR SECURITY UPDATES AND PATCH MANAGEMENTMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR SECURE COMMUNICATION PROTOCOLSMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
7. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR SMARTPHONESMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR AUTOMOTIVEMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR CONSUMER ELECTRONICSMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR HEALTHCAREMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR TELECOMMUNICATIONMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR OTHERSMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. NORTH AMERICAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
15. NORTH AMERICAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY SECURITY TYPE, 2023-2031 ($ MILLION)
16. NORTH AMERICAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
17. EUROPEAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
18. EUROPEAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY SECURITY TYPE, 2023-2031 ($ MILLION)
19. EUROPEAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
20. ASIA-PACIFIC SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
21. ASIA-PACIFICSECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY SECURITY TYPE, 2023-2031 ($ MILLION)
22. ASIA-PACIFICSECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
23. REST OF THE WORLD SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
24. REST OF THE WORLD SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY SECURITY TYPE, 2023-2031 ($ MILLION)
25. REST OF THE WORLD SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
1. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET SHARE BY SECURITY TYPE, 2023 VS 2031 (%)
2. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR HARDWARE SECURITY MODULES (HSMS)MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR TRUSTED EXECUTION ENVIRONMENT (TEE)MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR SECURITY UPDATES AND PATCH MANAGEMENTMARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR SECURE COMMUNICATION PROTOCOLSMARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE MARKET SHAREBY APPLICATION, 2023 VS 2031 (%)
7. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR SMARTPHONESMARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR AUTOMOTIVEMARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR CONSUMER ELECTRONICSMARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR HEALTHCAREMARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR TELECOMMUNICATIONMARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICE FOR OTHERSMARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SHARE BY REGION, 2023 VS 2031 (%)
14. US SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
15. CANADA SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
16. UK SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
17. FRANCE SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
18. GERMANY SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
19. ITALY SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
20. SPAIN SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
21. REST OF EUROPE SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
22. INDIA SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
23. CHINA SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
24. JAPAN SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
25. SOUTH KOREA SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
26. REST OF ASIA-PACIFIC SECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
27. LATIN AMERICASECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
28. MIDDLE EAST AND AFRICASECURITY OPERATIONS CENTER (SOC) AS A SERVICEMARKET SIZE, 2023-2031 ($ MILLION)
