SOC as a Service (SOCaaS) Market

The global SOCaaS market is expected to increase from USD 6.7 billion in 2023 to USD 11.4 billion by 2028, with a CAGR of 11.2% throughout the forecast period. Critical drivers driving considerable growth in the SOCaaS market include the increasing complexity of cyber threats, rapid technical advancements, the growing trend of BYOD, CYOD, and WFH, and complicated threat response. Organisations require powerful SOCaaS solutions to secure their data and operations as they adopt modern cybersecurity strategies and technologies. SOCaaS vendors are capitalising on these demands by providing novel solutions to protect digital assets while maintaining data privacy and integrity.

The growth drivers for the SOC as a Service market include:

• Increasing Cybersecurity Threats
• Growing Adoption of Cloud Services
• Need for Compliance and Regulatory Adherence
• Shortage of Skilled Cybersecurity Professionals
• Cost-Effectiveness
• Advancements in AI and Automation
• Increased Focus on SMBs
• Expansion of IoT and OT Networks
• Proactive Threat Management
• Digital Transformation Initiatives
• Remote Work Trends
• Complexity of Modern IT Environments
• Emergence of Advanced Persistent Threats (APTs)
• Integration with Business Processes
• Improved Incident Response Capabilities

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Increasing Cybersecurity Threats:

Rising frequency and sophistication of cyber-attacks necessitate robust security measures.

Growing Adoption of Cloud Services:

Expanding use of cloud platforms requires enhanced security monitoring and threat detection.

Need for Compliance and Regulatory Adherence:

Stringent regulations and compliance requirements drive demand for continuous security monitoring.

Shortage of Skilled Cybersecurity Professionals:

Outsourcing SOC services addresses the talent gap in cybersecurity expertise.

Cost-Effectiveness:

SOC as a Service offers a more affordable solution compared to maintaining in-house SOC infrastructure.

Advancements in AI and Automation:

Integration of AI and automation enhances threat detection, response times, and operational efficiency.

Increased Focus on SMBs:

Small and medium-sized businesses are increasingly adopting SOC as a Service for accessible and comprehensive security.

Expansion of IoT and OT Networks:

Growth in IoT and operational technology networks necessitates continuous security monitoring.

Proactive Threat Management:

Shift towards proactive threat management and continuous monitoring to prevent incidents.

Digital Transformation Initiatives:

Organizations undergoing digital transformation require robust security solutions to protect digital assets.

Remote Work Trends:

The rise in remote work environments increases the need for secure remote access and monitoring.

Complexity of Modern IT Environments:

Increasing complexity of IT environments drives the need for specialized security operations expertise.

Emergence of Advanced Persistent Threats (APTs):

Growing threat of APTs requires advanced and continuous monitoring solutions.

Integration with Business Processes:

SOC services integrated with business processes ensure comprehensive protection and risk management.

Improved Incident Response Capabilities:

Enhanced incident response and recovery capabilities provided by SOC as a Service solutions.

These drivers collectively propel the growth and adoption of SOC as a Service, ensuring robust security for organizations across various industries.

SOC as a Service Market Share - Global Industry Landscape

Some of the leading companies in the SOC as a Service industry include:

• Arctic Wolf (US)
• Trustwave (US)
• Proficio (US)
• Airbus (France)

Arctic Wolf (US):

Market Position: Considered a strong contender in the mid-market segment, particularly for businesses seeking a cloud-native and extended detection and response (XDR) focused approach.

Key Offerings:

Cloud-delivered SOC services with a focus on automation and threat intelligence.

Extended Detection and Response (XDR) capabilities for comprehensive threat analysis.

Security awareness training and managed security awareness programs.

Trustwave (US):

Market Position: A well-established player with a broad range of security services, including SOCaaS solutions for various business needs.

Key Offerings:

Managed SOC services with different tiers catering to diverse security requirements.

Threat intelligence feeds and advanced threat detection capabilities.

Compliance and security posture management solutions.

Incident response and vulnerability management services.

Proficio (US):

Market Position: A niche player known for its expertise in security information and event management (SIEM) and log management solutions.

Key Offerings:

SOCaaS built on a strong SIEM foundation for log data analysis and threat detection.

Compliance-focused security monitoring and reporting.

Security orchestration, automation, and response (SOAR) capabilities.

Airbus (France):

Market Position: While Airbus is a prominent aerospace company, its cybersecurity division, Airbus Cybersecurity, is a relative newcomer in the SOCaaS market. However, they are leveraging their expertise in aerospace security to offer specialized solutions.

Key Offerings:

SOCaaS solutions tailored for critical infrastructure and industrial control systems (ICS) security.

Threat intelligence focused on specific sectors like aviation and space.

Secure communication and data encryption solutions.

Related Reports:

SOC as a Service Market by Service Type (Managed SIEM and log Management, Vulnerability Scanning and assessment, Threat Detection & Incident Response, and GRC), Offering, Application, Sectors, Vertical and Region - Global Forecast to 2028