(MENAFN- PR Newswire) Asia Pacific region stands out as a pioneer in embracing SOCaaS solutions, primarily spurred by mounting cybersecurity apprehensions, notably within sectors like BFSI, government, IT, and telecommunications. The surge in cyber threats has catalyzed policy revisions on a national scale, prompting an uptick in the uptake of encryption solutions to safeguard sensitive data. In response to the intensifying cyber landscape, prominent industry players such as IBM and TCS are strategically expanding their SOCaaS footprint across Asia, aiming to fortify security measures and regional enterprises' bottom line. Thus, the region accounts for the highest CAGR during the forecasted period.
Top Key Companies in SOC as a Service Market:
NTT (Japan), Verizon (US), Lumen Technology (US), Atos (France), Fort(US), Thales (France), Kaseya (US), Cloudflare (US), AT&T (US), Arctic Wolf (US), Trustwave (US), Proficio (US), Air(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 EvenSecurity (India) are the key players and other players in the SOCaaS Market.
Recent Developments
In June 2023, AT&T (France) partnered with Vertek (US) to offer Unified Security Management (USM) Anywhere services to enterprises. The collaboration involved Vertek's advanced SOC, providing proactive and predictive threat detection and mitigation services to safeguard clients from global cyber threats. Further, the SOC services offered by Vertek, powered by AT&T Cybersecurity's platform, encompass real-time intrusion detection, monitoring, response, vulnerability scanning, behavioral monitoring, and SIEM and log management. In April 2022, NTT Communications (Japan) introduced "OsecT," a cloud-based security service that visualizes and identifies security risks within control systems for factory production lines, primarily focusing on SMEs. The service's visualization and detection capabilities aligned with the goals of SOCaaS by enhancing risk visibility and enabling prompt responses to anomalies. By addressing potential vulnerabilities in control systems, "OsecT" contributed to a more secure and resilient manufacturing environment, aligning with the broader objectives of the SOCaaS Market. In October 2022, Arctic Wolf (US) extended its comprehensive security operations solutions to the Australian and New Zealand markets. This portfolio includes Managed Detection and Response, Managed Risk, and Managed Security Awareness, all seamlessly delivered through the Arctic Wolf Security Operations Cloud. In August 2022, Fort(US) and NEC Corporation (Japan) entered a global agreement to jointly build secure 5G networks for communication service providers (CSPs). This collaboration aimed to ensure secure and sustainable networking in the 5G era, addressing emerging threats and architectural shifts brought by increased data traffic and Multi-access Edge Computing (MEC). The partnership would foon network security use cases and services crucial to 5G, such as Radio Access Network, Mobile Roaming, Gi-LAN/N6, and Telco/Edge Cloud Security. The combined strengths of Fortinet's security solutions and NEC's network integration capabilities would empower CSPs to protect against known and unknown threats while maintaining customer experience. In May 2021, Cloudflare (US) launched SOC as a Service, a security product, and a team of cybersecurity experts within Cloudflare. It combined its security products with a team of cybersecurity experts to provide 24×7×365 monitoring for security threats and operational disruptions. The service included triaging and responding to alerts, performing in-depth analysis, implementing countermeasures, and offering proactive engagement to keep organizations safe. Additionally, it collaborated with MSSPs to provide a comprehensive end-to-end security solution.
Inquire Before Buying:
SOC as a Service Market Advantages:
Without the need for significant internal resources, SOC as a Service offers affordable access to cutting-edge cybersecurity knowledge and solutions, lowering the total cost of ownership. With round-the-clock monitoring of an organization's IT environment provided by SOC as a Service, risks are identified and dealt with quickly, even after hours. The danger of data breaches is decreased when organisations have access to a team of skilled cybersecurity analysts that can promptly identify and neutralise security risks. In order to uncover new threats and vulnerabilities and improve proactive threat management, SOC as a Service makes use of cutting-edge threat detection tools and real-time monitoring. According to an organization's demands, services can scale up or down, ensuring that cybersecurity resources are in line with the changing threat landscape and operational needs. Providers of SOC as a Service can react quickly to security problems, reducing the potential harm brought on by breaches or attacks. Threat intelligence feeds are included into SOC services to stay current on the most recent cyberthreats, enabling proactive threat mitigation techniques. Security analysts with experience may eliminate false positives, ensuring that organisations concentrate on real security risks and lowering alert fatigue. By keeping an eye out for and reporting on security incidents and breaches, SOC services assist organisations in adhering to regulatory compliance obligations.
Report Objectives
To define, describe, and forecast the SOCaaS Market based on service type, offering, application, sectors, verticals, and regions: To predict and estimate the market size of five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America To analyze the subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the SOCaaS Market To analyze opportunities in the market for stakeholders by identifying high-growth segments of the SOCaaS Market To profile the key players of the SOCaaS Market and comprehensively analyze their market size and core competencies. Track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the global SOCaaS Market.
Browse Adjacent Market: Information Security Market Research
Reports & Consulting
Browse Other Reports:
Certificate Authority Market
- Global Forecast to 2028
Cyber Insurance Market
- Global Forecast to 2028
Cloud Security Market
- Global Forecast to 2028
Digital Evidence Management Market
- Global Forecast to 2028
Emotion Detection and Recognition Market
- Global Forecast to 2027
About MarketsandMarketsTM
MarketsandMarketsTM is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, makingproficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoreTM (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit MarketsandMarketsTM
or followon Twitter , LinkedIn
and Facebook .
Contact:
Mr. Aashish Mehra
MarketsandMarketsTM INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website:
Research Insight:
Content Source:
Logo:
SOURCE MarketsandMarkets