New York, US, June 23, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Security Operation Center Market - Information by Service, Organization Size and Region - Forecast till 2025” the market is expected to grow at a 4.52% CAGR by 2025.
Market Scope:
A security operations center (SOC), simply put, is a center or premise which contains an information security team that are in charge to analyze and monitor the security of an enterprise regularly. The SOC team aims in detecting, analyzing, and responding to cybersecurity threats through a combination of processes and technology solutions. The staff comprises managers and security analysts that oversee every security operation.
Dominant Key Players on Security Operation Center market covered are:
- Netdatavault (India)
- F5 Networks Inc. (US)
- Rapid7 (US)
- Alertlogic (US)
- AT&T (US)
- Fortinet Inc. (US)
- Digital Guardian (US)
- Dark Matters Inc. (UAE)
- Netmagic Solutions (India)
- Raytheon Company (US)
- Symantec Corporation (US)
- Secureworks Inc. (US)
- Cisco Systems Inc. (US)
- Capgemini SE (France)
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Market USP exclusively encompassed:
Market Drivers
According to the MRFR report, there are numerous factors that are propelling the security operation center market. Some of these include the need for cyber security operations center to defend the increase in cyberattacks across the globe, the growing need for enterprises to reduce risk, the need for strict compliance with regulatory needs, technical advances in cyberattacks, increasing penetration of the internet, and growing need for connected devices. Additional factors fuelling market growth entail the increasing chances of being hacked online, the demand for SOC as a service, rise in sophisticated cyber-attacks, and the growing need for the protection of critical data from the BFSI, manufacturing, healthcare, IT and telecommunication, and others.
Market Restraints
On the flip side, the lack of reliability of third-party vendors may limit the security operations center market growth over the forecast period.
Browse In-depth Market Research Report (148 Pages) on Security Operation Centre:
https://www.marketresearchfuture.com/reports/security-operation-center-market-3682
Segmentation of Market Covered in the Research:
The Market Research Future report offers an inclusive analysis of the security operations center market based on vertical, organization size, model, and service.
By service, the security operations center market is segmented into risk reporting and analytics service, digital forensics and malware analysis service, threat and vulnerability identification, information security incident response service, security monitoring service, and others.
By model, the security operations center market is segmented into outsourced SOC and in-house SOC.
By organization size, the security operations center market is segmented into SMEs and large enterprises.
By vertical, the security operations center market is segmented into travel and tourism, retail, healthcare, aerospace and defense, oil and gas, BFSI, government, IT and telecom, and others. Of these, the IT and Telecom segment will lead the market over the forecast period.
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Regional Takeaway
Geographically, the global security operations centre market is bifurcated into Europe, the Asia Pacific (APAC), North America, South America, as well as the Middle East & Africa (MEA). Of these, North America will dominate the market over the forecast period.
The global security operations center market in the APAC region is predicted to grow at a fast pace over the forecast period.
The global security operations center market in North America is predicted to have healthy growth in the forecast period, and in the MEA is predicted to have sound growth over the forecast period.
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Industry Updates
March 2021- Elastic has announced new cloud application & host protection and streamlined security operations workflows.
COVID-19 Analysis
The coronavirus pandemic has already cast its shadow on the security operations center market due to the increasing data breaches and cybercrimes. According to Kaspersky, the cybercriminals exploited the public fear of the growing COVID cases through phishing and malware emails in the disguise of content that came from the Centres for Disease Control & Prevention (CDC) in the United States and World Health Organization (WHO). Besides, Kaspersky has detected 20 coronavirus-related malware in Malaysia, 22 in India, 23 in Vietnam, 40 in China, 53 in the Philippines, and 93 in Bangladesh.
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