Summary

The global SOCaaS market size is projected to grow from USD 6.7 billion in 2023 to USD 11.4 billion by 2028 at a CAGR of 11.2% during the forecast period. The market growth in SOCaaS is fueled by factors such as rapid technological advancements, the growing trend of BYOD, CYOD, and WFH, the growing complexity of cyber threats, and complex threat response.
“By application, the cloud security segment will grow at the highest CAGR during the forecast period.”
The cloud security segment attained the highest CAGR in the SOCaaS market’s application segmentation due to increasing cloud adoption and its distinct security challenges. Cloud security SOCaaS services offer tailored monitoring and threat detection, catering to the complexities of securing cloud data and applications. The urgency to counter cloud-specific threats, comply with regulations, and safeguard assets drives demand. As cloud services become integral, the segment’s specialized capabilities for real-time monitoring and responsive incident management contribute to its significant growth. Thus, the cloud security segment accounts for the largest market size during the forecasted period.

“By organization size, the co-managed segment will grow at the largest market size during the forecast period.”
The co-managed segment achieved the highest CAGR in the SOCaaS market’s offering segmentation due to its adaptable and collaborative cybersecurity management approach. The model addresses the challenge of harmonizing internal security efforts with external expertise. Additionally, the co-managed SOCaaS empowers organizations to control specific security aspects while harnessing external providers’ specialized skills for monitoring, threat detection, and incident response. Furthermore, merging internal knowledge with external support in co-managed SOCaaS delivers a cost-effective and efficient response to evolving cyber threats, propelling its significant growth. Thus, the co-managed offering segment has the highest CAGR during the forecasted period.

“North America is expected to account for the largest market size during the forecasted period.”
During the forecast period, North America leads in regional market share due to key industry players such as Fortinet, Cloudflare, and Proficio, among others, increased cyberattacks, rapid cloud-based technology adoption, and stringent security regulations. This dominance reflects the region’s vulnerability to cyber threats, driving demand for robust solutions like SOCaaS. The rise in cloud-based applications further fuels the need for enhanced cybersecurity, pushing North American enterprises to embrace SOCaaS for vigilant monitoring and protection. The region’s proactive response to compliance requirements solidifies its frontrunner status in the SOCaaS market, catering to various stringent security standards.

“Asia Pacific is anticipated to account for the highest CAGR during the forecasted period.”
The Asia Pacific region, comprising developed economies like China, Japan, Australia, and New Zealand, and emerging ones like India and Singapore, is poised for the highest CAGR during the projected period. With robust governmental regulations and technological progress, the SOCaaS market is flourishing in Asia. Additionally, technology adoption, including analytics, cloud computing, and business infrastructure, is rapidly advancing in the region. Moreover, the Asia Pacific region leads in adopting SOCaaS solutions, driven by cybersecurity concerns and the shift to cloud-based solutions in industry verticals such as BFSI, government, IT, and telecom. Security breaches, strict regulations, and the shift toward standardized security solutions further fuel the growth.

The Asia Pacific region experienced a significant surge in cyberattacks, prompting national cybersecurity policy updates and adopting encryption solutions. This escalation in threats has led prominent vendors like IBM and TCS to expand SOCaaS operations in the region to bolster security and business profitability in the face of intensifying cyber risk. Thus, the Asia Pacific region has the highest CAGR during the forecasted period.

Breakdown of primaries
The study contains various industry experts’ insights, from suppliers/software developers to OEMs and Tier 1 vendors.
The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-level – 40%, Managerial and Others– 60%
• By Region: North America – 20%, Europe – 35%, Asia Pacific – 45%
The key vendors in the global SOCaaS market include NTT (Japan), Verizon (US), Lumen Technology (US), Atos (France), Fortinet (US), Thales (France), Kaseya (US), Cloudflare (US), AT&T (US), Arctic Wolf (US), Trustwave (US), Proficio (US), Airbus (France), ConnectWise (US), Clearnetwork, Inc (US)., Stratosphere Networks (US), eSec Forte (India), Cybersafe Solutions (US), eSentire (Canada), CyberSecOp (US), TECEZE (UK), Netsurion (US), Foresite Cybersecurity (US), Ascend Technologies (US), inSOC (US), SafeAeon (US), SOCWISE (Hungary), Wizard Cyber (UK), and Eventus Security (India).
The study includes in-depth competitive intelligence covering company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the SOCaaS market and forecasts its size by service type (managed SIEM & log management, vulnerability scanning & assessment, threat detection & incident response, and GRC), offering (fully managed and co-managed), application (network security, cloud security, endpoint security, and application security), sectors (public and private), verticals (BFSI, healthcare, government, manufacturing, energy and utilities, IT and ITeS, telecommunications, transportation, and logistics, and other verticals), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall SOCaaS market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (The growing complexity of cyber threats, Rapid technological advancements along with the increasing trend of BYOD, CYOD, and WFH), restraints (The data privacy and compliance concerns, Integration complexity in adopting SOCaaS), opportunities ( Leveraging the rise in cloud-based solutions adoption among SMEs, Harnessing the power of AI, ML, and blockchain technologies for cyber defense advancements), and challenges (Limited skilled cybersecurity professionals in the SOCaaS Market, The challenge of non-standardized log formats in the SOCaaS Market).
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the SOCaaS market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the SOCaaS market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the SOCaaS market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like NTT (Japan), Verizon (US), Lumen Technology (US), Atos (France), Fortinet (US), Thales (France), Kaseya (US), Cloudflare (US), AT&T (US), Arctic Wolf (US), Trustwave (US), Proficio (US), Airbus (France), ConnectWise (US), Clearnetwork, Inc (US)., Stratosphere Networks (US), eSec Forte (India), Cybersafe Solutions (US), eSentire (Canada), CyberSecOp (US), TECEZE (UK), Netsurion (US), Foresite Cybersecurity (US), Ascend Technologies (US), inSOC (US), SafeAeon (US), SOCWISE (Hungary), Wizard Cyber (UK), and Eventus Security (India), among others in the SOCaaS market strategies.