According to a research report “SOC as a Service Market by Component, Service Type (Prevention, Detection, & Incident Response), Offering Type (Fully Managed & Co-managed), Application Area (Network Security & Endpoint Security), Industry Vertical, and Region – Global Forecast to 2025″ published by MarketsandMarkets, the SOC as a Service market is projected to grow from USD 471 million in 2020 to USD 1,656 million by 2025, at a Compound Annual Growth Rate (CAGR) of 28.6% during the forecast period. The increasing venture capital funding and growing investments in SOC as a Service technology are driving the market growth.
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North America to hold the largest market share during the forecast period.
North America has the presence of several prominent market players delivering SOC as a Service solutions to all end users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the growth of the SOC as a Service market. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for the deployment of SOC as a Service and services.
Major vendors offering SOC as a Service software include AlienVault (US), BlackStratus (US), Cygilant (US), Thales E-security (France), Alert Logic (US), Proficio (US), Netmagic (India), Arctic Wolf Networks (US), AqmTechnologies (India), ESDS Software Solution (India), Suma Soft (India), GA Systems (Australia), Expel (US), Radar Cyber Security (Austria), Stratozen (US), Fortinet (US), Binary Defense (US).
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Alien Vault (US) is a prominent provider of SOC as a Service solutions. AlienVault develops commercial and open-source products to prevent cyber threats. In July 2019, AlienVault’s USM platform had integrated with VirtualArmour’s CloudCastr client portal. It caters to various industry verticals, including telecommunication, retail, automobile, BFSI, IT, aerospace, government, hospitality, healthcare, and media and entertainment. The company has a global presence across North America, Europe, Asia Pacific (APAC), MEA and Latin America.
BlackStratus (US) is another top player in the SOC as a Service market. The company provides cloud-based security solutions. Its security portfolio includes various solutions, including cloud-based SIEM, log management, SOC as a Service, threat detection, and risk and liability assessment. It also provides post-contract support and professional services. It caters its solutions to various industries, including aerospace, communications, energy and utilities, financial institutions, healthcare, education, manufacturing, defense and military, retail, nonprofit organizations, and public sector.
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