The latest intelligence report published by Report Ocean, titled “Global Security Operations Center Market 2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
Security Operations Center Market research report identifies many companies which includes Capgemini’ Cisco’ Symantec’ SecureWorks’ IBM’ etc. in the Security Operations Center market. SOC market is fragmented with several security vendors’ services vendors’ and telecom providers competing for larger market share.
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This report also provides a detailed analysis of the market by component (software and services)’ function (security services’ threat and infrastructure management’ identity and access management’ and data security)’ service model (in-house’ hybrid’ and fully outsourcing)’ and region (North America’ Europe’ Asia Pacific’ Middle East and Africa and Latin America).
Overview of the Security Operations Center market
The Security Operations Center market revenue is estimated to be $31’796.9 million in 2019 and is expected to reach $61’199.7 million by 2025‘ growing at a CAGR of 11.5% during the forecast period 2019-2025.
According to the SOC market analysis’ North America accounted for the largest share of the Security Operations Center market in 2019 owing to strong economic conditions in the region and increased focus to enhance advanced systems protection for the enterprises. The cybersecurity is the focus area for the SOCs detecting threats from external sources. The Asia Pacific region holds a good potential for the vendors and is expected to grow at the highest CAGR during the forecast period 2019-2025. The Asia Pacific region is expected to witness growth in SOCs due to presence of the emerging countries such as India’ China’ and Philippines and organizations in the region are experiencing increase in customers and focus on data protection and threat detection.
Competitive Analysis and Key Vendors
The Security Operations Center market vendors are extending its partner ecosystem with capabilities in integration’ consulting’ reseller’ and geographical reach to enhance their service offerings. The Security Operations Center market is expected to enhance the security operations of enterprises with continuous monitoring and early threat detection.
The report contains an in-depth analysis of vendor profiles’ which include analyst opinion’ offerings’ and competitive landscape. The holistic systems protection with endpoint security’ data loss prevention’ threat intelligence’ among others are expected to drive the Security Operations Center market set up across the globe.
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Some of the key vendors in the market are:
> Capgemini
> Cisco
> Symantec
> SecureWorks
> IBM
Other companies covered in the report are Fortinet’ F5 Networks’ Verizon’ British Telecom’ and Digital Guardian.
Segmentation of component
> Software
> Services
In 2019′ the services segment occupied the largest market share and is expected to have the higher share during the forecast period. The services segment is majorly contributed by the managed security services providers who provide services from their SOCs to multiple clients and manage the SOCs of the clients.
Segmentation of function
> Security Services
> Threat and Infrastructure Management
> Identity and Access Management
> Data Security
In 2019 the security services occupied the largest market share and is expected to grow at a high CAGR during the forecast period. The MSSPs help enterprises in continuous security software updates and enhanced detection of cyber-attacks.
Segmentation of service model
In-house
Hybrid
Fully Outsourcing
In 2019′ the in-house service model occupied the largest market share and the hybrid service model is expected to gain major interest from enterprises owing to partial outsourcing of security operations to the Security Operations Center by the vendors.
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Benefits
The study offers a comprehensive analysis of the “Security Operations Center” market bringing out the complete key insights of the industry’ the report also aims to provide an opportunity for companies to understand the latest trends’ current market scenarios’ government initiatives’ and technologies related to the market. In addition’ it helps the venture capitalists in understanding the companies better and take informed decisions.
Region/Country Cover in the Report
North America’ Europe’ Asia Pacific’ Middle East and Africa and Latin America
Key Players Covered in the Report
Capgemini
Cisco
Symantec
SecureWorks
IBM
Highlight the Following Key Factors:
- Business Description: a particular description of agency operations and enterprise departments.
- Company Strategy: The analyst’s precis of the company’s commercial enterprise strategy.
- SWOT Analysis: Detailed evaluation of the company’s strengths, weaknesses, opportunities, and threats.
- Company History: The development of predominant occasions associated to the company.
- Main merchandise and services: A listing of the company’s fundamental products, services, and brands.
- Main Competitors: A listing of the company’s fundamental competitors.
- Important places and subsidiaries: The company’s major places and subsidiaries’ listing and contact information.
- Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
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