Security Operations Center (SOC) Market Size Worth $16.18 Billion By 2032 | CAGR: 10.2%

The global Security Operations Center (SOC) market size is expected to reach USD 16.18 billion by 2032, according to a new study by Polaris Market Research. The report “Security Operations Center (SOC) Market Share, Size, Trends, Industry Analysis Report, By Type (Detection Service, Prevention Service, Incident Response Service); By Component; By Deployment Type; By Organization Size; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Greater concerns associated with cyber-attacks and data breach, along with the rising need for continuous monitoring and analysis of data activity, has resulted in increased adoption of the Security Operations Center (SOC). Organizations are preemptively implementing solutions for threat management and centralized security on account of the rising adoption of mobile devices and increasing digitization.

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Initiatives are taken by organizations to address regulatory mandates and manage threat detection and integrate proactive monitoring to support the growth of the industry. The adoption of cloud-based solutions and services has increased, especially among small and medium-sized businesses, on account of its affordability, greater processing power, and reduction in operational overhead.

The BFSI sector is a major user of the Security Operations Center (SOC). The greater need to safeguard sensitive consumer and financial data and prevent data breach supports the growth of this segment. Banks and financial institutions are adopting these solutions for reduced risks and improved safety while offering improved customer services. These services offer defense against frauds, threats & vulnerabilities.

North America dominated the global market owing to established infrastructure and early technological adoption. High acceptance of the Security Operations Center (SOC) by BFSI, healthcare, and automotive sectors for protection against cyber-attacks and data theft boosts the adoption. The presence of leading industry players in the region, along with the introduction of technologically advanced solutions, drive the industry growth in the region.

Security Operations Center (SOC) Market Report Highlights

• The market for incident response service is expected to hold a significant share during forecast period. This service enables the companies to address security regulations and meet industry standards promptly
• Professional services accounted for the largest revenue share on account of greater need to address security threats with high efficiency and greater results
• The cloud segment is expected to grow at a fast pace on account of its affordable price and high processing capabilities
• By end-use, the healthcare industry is expected to be the fastest growing segment during the forecast period owing to greater need to protect sensitive patient data
• North America region will lead the global market by 2030. This is due to the growing demand for cloud computing services in the region.
• The global market is highly competitive owing to the existence of large market players with global presence including Airbus Cybersecurity, Atos, AT&T Inc., Binary Defense, BitLyft Cybersecurity, Check Point, and CyberSecOp among others

Polaris Market Research has segmented the Security Operations Center (SOC) market report based on type, component, deployment type, organization size, end-use, and region:

Security Operations Center (SOC), Type Outlook (Revenue - USD Billion, 2019-2032)

• Detection Service
• Prevention Service
• Incident Response Service

Security Operations Center (SOC), Component Outlook (Revenue - USD Billion, 2019-2032)

• Solutions
• Professional Services

Security Operations Center (SOC), Deployment Type Outlook (Revenue - USD Billion, 2019-2032)

• On-Premises
• Cloud

Security Operations Center (SOC), Organization Size Outlook (Revenue - USD Billion, 2019-2032)

• Small & Medium Enterprises
• Large Enterprises

Security Operations Center (SOC), End-Use Outlook (Revenue - USD Billion, 2019-2032)

• BFSI
• Public Sector
• Healthcare
• Aerospace & Defense
• Others

Security Operations Center (SOC), Regional Outlook (Revenue - USD Billion, 2019-2032)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa