Market Outlook:

The SOC-as-a-Service (SOCaaS) market size is poised to reach USD 4,873.55 Million by 2024, with a projected escalation to USD 8,347.44 Million by 2032, reflecting a compound annual growth rate (CAGR) of 9.4% during the forecast period (2024-2032). 

SOCaaS providers attract more companies because cyberattack threats are intensifying and occurring more often especially ransomware and phishing attacks. The demand for SOCaaS grows because organizations struggle to find security talent in their teams. The rapid growth of AI ML and blockchain technology together drives the expansion of SOC as a Service. Most companies now work remotely and bring their own devices at work which pushes them toward SOCaaS solutions worldwide. Businesses now order protective security products from SOCaaS that fit their own demands for various industries such as banking, healthcare and government.

Market Dynamics:

Driver:

A global need for cybersecurity professionals pushes ahead the SOCaaS industry because there are not enough security experts available to hire. Many experts in the field expect we will need 3.4 million more cybersecurity professionals by 2023 according to (ISC)². Because modern attackers use methods like ransomware and phishing plus/DDOS assaults firms need more personnel who specialize in cyber incident handling and forensics. The world economic forum of 2024 shows that 71% of companies have cybersecurity job openings with too much pressure at work and expensive qualifications making this field unattractive for new entrants. SOCaaS providers allow businesses to discover trained professionals who use AI tools and SOAR systems to close security gaps and optimize team performance. The service lets organizations direct their skills and money into core tasks and still receive comprehensive security protection from outside experts.

Restraint:

Existing security staff often grow tired of dealing with too many security notices because most of these alerts prove to be insignificant or incorrect. Excessive security alerts burden teams and slow down menace monitoring while making them miss vital protection problems. A poor setup of detection tools sends too many unnecessary alerts that drain valuable staff time and attention. Maintaining focus on vital security matters becomes impossible when teams need to review many alerts to find true security threats. The problem harms both how well the SOCaaS works and its performance value. The heavy load of alerts affects how much clients value SOCaaS as it increases the chances of major security problems failing to receive attention. The problem shows why better alarm management technology is needed because SOCaaS providers need to keep their customers trusting them for effective security.

Opportunity:

SOCaaS vendors can improve their services by connecting their systems with XDR technologies. XDR allows safeguarded systems from various network entry points to collect security data in one united platform. This combined security method lets people discover threats better and react faster for clear security visibility across their organization. SOCaaS providers create a full-threat protection system when they use XDR technology to monitor all areas a business can be targeted. Linking SOCaaS technology with XDR tools allows enterprises to connect security data sources and create better understanding about their security situation. More visibility helps security teams better identify complex attackers who use harmful methods on various entry points. XDR tools help SOCaaS suppliers respond faster to incidents while blocking threats which reduces both MTTD and MTTR. When organizations adopt cloud-native architectures the collaboration between SOCaaS providers and XDR systems lets them bring modernized cybersecurity operations to their customers.

Key Players:

• Thales (France)
• Airbus Cybersecurity (France)
• NTT (Japan)
• Lumen Technologies (US)
• Fortinet (US)
• Cloudflare (US)
• Check Point (US)
• Kaseya (US)
• Trustwave (US)
• Arctic Wolf Networks (US)
• Proficio (US)
• LRQA (UK)
• Inspirisys (India)
• Eventus Security (India)
• Cyber Security Hive (India)

Recent Development:

• In November 2024 Thales launched GenAI4SOC as a threat detection solution that uses generative AI technology to protect corporate IT systems. The tie-up of human experts and generative AI tools works better to detect security issues quickly and introduce new threat protection methods swiftly.

• In October 2024, NTT DATA collaborated with Palo Alto Networks to launch MXDR Managed Extended Detection and Response. MXDR brings advanced threat intelligence between AI tools that keep watch for threats and react quickly to security incidents throughout the system's run.

Segment Insights:

By Service Type

Companies choose the fully managed segment because it expands at the fastest rate thanks to its overall cybersecurity protection system. Organizations now choose complete managed security services to relieve their internal security teams because there is not enough skilled cybersecurity personnel available. The SOCaaS solution delivers every aspect of security management through experts and advanced technology resources. Managed SOCaaS provides exceptional security solutions that need less internal staff so businesses find this option more attractive.

By Security Type

The endpoint security sector covered more than 30% of the market in 2023 and will lead the market growth to 2030. More employees now use their personal devices from different locations to connect to their company networks because work has moved from office spaces to remote and mixed setups. More remote devices connecting to company networks increases attack risk so good endpoint security systems are needed to keep these devices safe. When workers use their personal digital devices for work duties under a BYOD policy security weakness becomes more severe. When personal devices link to corporate data it makes protecting that data harder because advanced security is needed to both secure it and stop unauthorized users from accessing it. The need for complete endpoint security together with SOC as a Service arises from these IT changes to build strong protection against threats in networks that span many distant locations.

Regional Insights:

In 2023 North America grabbed over 37% share of the SoC as Service market. Organizations in North America require SOC as a service because they are expanding their IT and cloud-based infrastructure. Organizations experience rising security problems because their information technology systems include multiple cloud platforms. SOC as a Service solves IT security issues by bringing expert teams that protect infrastructure ecosystems. North American businesses moving to cloud services drive more demand for this solution. Organizations require security solutions built for cloud environments to protect their cloud-based services from ongoing digital threats. Organizations can secure their cloud environments thanks to SOC services that provide top-level security tools. These solutions constantly watch systems for threats and react immediately to incidents. Businesses can secure their entire IT network by using SOC as a Service to protect their growing and complex IT system.

Segmentation:

By Service Type

• Managed SIEM & Log Management
• Vulnerability Scanning & Assessment
• Threat Detection & Remediation

By Security Type                     

• Endpoint Security
• Network Security
• Cloud Security

By Industry

• BFSI
•  IT & Telecom
•  Healthcare
•  Government & Public Sector
•  Retail & E-commerce
•  Manufacturing
•  Others

By Region

North America

• USA

• Canada

• Mexico

Europe

• France

• UK

• Spain

• Germany

• Italy

• Rest of Europe

Asia Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia Pacific

Middle East & Africa

• GCC

• South Africa

• Rest of the Middle East & Africa

South America

• Brazil

• Argentina

• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the SOC-as-a-Service (SOCaaS) market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global SOC-as-a-Service (SOCaaS) market.

3. Leading company profiles reveal details of key SOC-as-a-Service (SOCaaS) market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global SOC-as-a-Service (SOCaaS) market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global SOC-as-a-Service (SOCaaS) Market?

• Cost Efficiency and Resource Optimization is driving the demand for SOC-as-a-Service (SOCaaS) across various industries.

2) What would be the CAGR of the Global SOC-as-a-Service (SOCaaS) Market over the forecast period?

• The Global SOC-as-a-Service (SOCaaS) Market is poised to grow at a CAGR of 9.4% from 2024 to 2032.

3) Which region will provide more business opportunities for the growth of the Global SOC-as-a-Service (SOCaaS) Market in the future?

• The XX regon is expected to create more opportunities in the market.

4) Who are the major players dominating the Global SOC-as-a-Service (SOCaaS) Market?

• Arkema (France), 3M Company (US), The Chemours Company (US), Daikin Industries, Ltd. (Japan).

5) What are the segments in the Global SOC-as-a-Service (SOCaaS) Market?

• By Security Type, By Service, By Industry, are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global SOC-as-a-Service (SOCaaS) Market in 2032?

The estimated revenue for the Global SOC-as-a-Service (SOCaaS) Market in 2032 is USD 8,347.44 Million.