SOC as a Service Market

AlienVault (US) and Thales e-Security (France) are leading players in SOC as a Service Market

The global SOC as a service market size is expected to grow from USD 372 million in 2019 to USD 1,137 million by 2024, at a Compound Annual Growth Rate (CAGR) of 25.0% during 2019–2024. Major driving factors for the market include an exponential rise and sophistication of cyber-attacks and cumbersome administration after threat detection.

Major vendors of SOC as a service include AlienVault (US), BlackStratus (US), Cygilant (US), Thales e-Security (France), Alert Logic (US), Proficio (US), Netmagic Solutions (India), Arctic Wolf Networks (US), AQM Technologies (India), ESDS Software Solution (India), Suma (India), GA Systems (Australia), Expel (US), RadarServices (Austria), and StratoZen (US). The players have adopted various growth strategies such as new product launches and partnerships, agreements, and collaborations to enhance their presence in the global SOC as a service market. Partnerships and new product launches have been the most widely adopted strategies by major players from 2017 to 2019 and have helped them innovate on their offerings and broaden their customer base.

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AlienVault is one of the leading players in the SOC as a service market. The company offers its SOC as a service through its USM solution. It also offers a strong security portfolio including solutions, such as Asset Discovery, Intrusion Detection, Security Automation, and SIEM and Log Management. The USM solution delivers multiple SOC capabilities deployed on a cloud-based platform. It not only reduces risks related to sensitive information, but also ensures vendors comply with various regulations. The company’s broad partner base includes major industry players, such as ConnectWise, AWS, and Azure. It focuses on organic and inorganic growth strategies for its growth and development. For instance, in June 2018, AlienVault enhanced its USM Anywhere offering by adding a new solution, Endpoint Detection and Response. The solution would automate threat detection and response across networks and endpoints of organizations

Thales e-security is a pioneer in offering enhanced cybersecurity solutions to its enterprise customers as well as governments. The company offers its wide range of systems and solutions to various industry verticals, including government and military, satellite networks, energy and utilities, banking and insurance, high tech, and transportation. In October 2018, Thales Group partnered with a datacenter organization in the Netherlands and a provider of managed IT services in the cloud to launch a managed SOC solution for addressing enterprises’ cybersecurity concerns. The company also provides best-in-class services, such as support and maintenance, risk assessment, consulting, and managed services. The managed services help in the prevention, detection, analysis, and remediation of cyber threats. The company’s SOC offering provides 24/7 support, threat intelligence, and patch updating tasks. It safeguards on-premises devices as well as cloud environments by providing secure virtualized access and network firewalls, real-time data encryption, and hosting services with multi-access gateways through its SOC. It provides various delivery modes to its customers, and has tie-ups with distributors and resellers that provide systems and solutions to customers across the globe. It highly focuses on product innovations and invests significantly in R&D for its organic and inorganic growth.

Related Reports:

SOC as a Service Market by Component (Solutions and Services), Service Type (Prevention, Detection, and Incident Response), Offering Type (Fully Managed and Co-Managed), Application Area, Industry Vertical, and Region - Global Forecast to 2024

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