Security Operation Center Market Highlights:
Market Research Future (MRFR), in its newly published research report, asserts that the global security operations center market is booming and expected to grow significantly over the review period, recording a substantial market valuation and a healthy CAGR in the forecast period. The global security operations center market is projected to register 10.4% CAGR during the review period to record USD 52.81 billion by 2025.
In this rapidly altering world of technology, the security operation center market is projected to show significant growth prospects during the forecast period. Need for regulatory requirements and severe compliance are significant factors driving the growth of the security operation center market. growing trends like connected devices, IoT, and BYOD are revealing the data to the outside world and this is fueling the growth of the Security Operation Center Market. The technical advancements in cyber attacks are an additional factor that boosts the market. On the other hand, the lack of trust on third-party vendors is a factor, which restricts the market. The rising demand of protecting important data from IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare, manufacturing, and other verticals offers lucrative opportunities to the key players in the global market.
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Security Operation Center Market Competitive Analysis:
The major market players functioning in the global market as identified by MRFR are Cisco Systems Inc. (US), Capgemini SE (France), Secureworks Inc. (US), Raytheon Company (US), Symantec Corporation (US), Netmagic Solutions (India), Digital Guardian (US), Dark Matters Inc. (UAE), F5 Networks, Inc. (US), AT&T (US), Fortinet Inc. (US), Alertlogic (US), Rapid7 (US), and Netdatavault (India). The key strategies implemented by majority of the players are agreements, partnerships, and collaborations.
Security Operation Center Market Segmental Analysis:
- The global SOC market has been analyzed based on service, organization size, model, vertical, and region/country.
- Based on the model, the global SOC market has been bifurcated into in-house SOC and outsourced SOC.
- Based on organization size, the global SOC market has been divided into small and medium-sized enterprise (SME) and large enterprise.
- Based on vertical, the global SOC market has been segmented into healthcare, BFSI, consumer electronics and retail, IT & telecom, travel & tourism, government, oil & gas, aerospace and defense, and others.
Security Operation Center Market Regional Analysis:
The geographical analysis of the global security operations market has been carried out in four major regions, including Europe, the Asia Pacific, North America, and the rest of the world (Latin America, the Middle East and Africa).
North America holds the maximum market share of security operations center market, due to the enterprises using SOCs as the number of cyber-attacks is rapidly growing, and the need for protecting critical data is high in the region. U.S and Canada are anticipated to fuel the growth of the security operation center market. the is owing to the presence of large number of security vendors in that region. In addition, the region also has a well-established infrastructure and allows increasing penetration of devices, while the increasing adoption of progressive technologies is another reason for the growth of the security operation center market. The US dominates the market in North America as some of the major data breaches have occurred in the country recently.
Asia-Pacific is anticipated to be the fastest-growing market during the review period due to the rising need to prevent cybercrimes. Due to the growing digitalization across verticals, the need for SOCs is anticipated to increase in this region. Within Asia Pacific, security operation center market enterprises to contribute faster to the growth of revenue backed by growing adoption of web and mobile based applications in countries such as China, Japan, and India.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of security operation center market. In Europe, the presence of innovative infrastructure and growing adoption of technological advancements in several countries is fueling the market growth of security operation center market. The developed economies in these regions and growing need for data security are the key reasons for the expansion of security operation center market over the review period.
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continued….
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List of Tables
Table 1 Security Operation Center Market, By Technology
Table 2 Security Operation Center Market, By Function
Table 3 Security Operation Center Market, By Service
Continued….
List of Figures
Figure 1 Research Type
Figure 2 Security Operation Center Market, By Technology (%)
Continued….
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