SOC as a Service Market to Surpass Worth of USD 15.66 Billion by 2031, Attributed to Complex Threat Response

WESTFORD, MA, UNITED STATES, September 26, 2024 /EINPresswire.com/ -- SOC as a Service Market size was valued at USD 6.03 Billion in 2022 poised to grow from USD 6.70 Billion in 2023 to USD 15.66 Billion by 2031, growing at a CAGR of 11.2% in the forecast period (2024-2031).

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The SOC as a Service Market is growing rapidly due to developing cyber threats and strong security requirements in several industries. SOC is therefore offered by third-party service specialists as a way of outsourcing all activities of security, such as threat detection and incident response, continuous monitoring, among many others. This is an affordable alternative to prevention services through the capability of enterprise operation to benefit from professional threat detection, incident response, and compliance management without the need for internal SOC investments in large equipment and personnel. Some of the key drivers for this, such as the level and complexity of attacks, cost avoided through reduced infrastructure investment, regulatory requirements, and lack of qualified cybersecurity professionals, cause problems in scalability, integration, and data privacy.

Enhancing Threat Intelligence with AI and ML in SOCaaS

The following are the key SOC as a Service Trends that will shape the growth of the market in the next 5 years

The integration of AI and Machine Learning (ML) with SOC as a Service (SOCaaS) technology enhances the detection of advanced threats and incident response capabilities, in addition to other cyber security technologies. Such all the capabilities of advanced threat detection, anomaly detection, behavioral analysis, automated incident response, threat intelligence integration, analytics for user and entity behavior, continuous learning, predictive analytics, phishing detection, and many more are all provided by these technologies to the enterprises. The algorithms scan enormous databases on real-time AI and trends that lead towards complex cyberthreats such as polymorphic malware or zero-day assaults. Contrarily, machine learning algorithms predict possible security events by analyzing past data along with recognition of trends way before some attack kinds are typical.

Future-Proofing Cybersecurity with MSS Initiative of SonicWall

Building on a European Security Operations Center that operates 24 hours a day, SonicWall announced the new Managed Security Services (MSS) it is launching in the EMEA region starting July 2024. This would aim to provide Europe with continuous monitoring, threat detection, and incident response to improve business organizations' cybersecurity. It is expected that this improved ability would drastically hike the resilience of businesses against shifting cyber threats during the next four to five years. The SOC will be using real-time analytics and advanced security technologies to reduce reaction times and encourage a proactive security posture. It is expected to eventually lead to industry standards being developed and regional adoption of managed security services.

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Streamlining Security Operations through Fortinet's Advanced Integrations

Fortinet has launched integrations for its FortiGuard SOCaaS or Security Operations Center as a Service in March 2024 to advance its SecOps. This disruptive solution incorporates Fortinet's top security technology and extensive SOC services into one solution that will deliver real-time threat intelligence and automated responses while providing smooth security management to enterprises. Over the next decade, this integration would predicted go a long way in affecting the SOCaaS market by making security operations more efficient and effective. Organizations would look forward to better detection and response of threats within a unified framework for security since it is on increased adoption; eventually, this would serve as the new standards on SOC effectiveness and resilience against cyber threats emerging in the future.

Key Moves by Industry Players

• October 2023: Stairwell and 360 SOC partenered with the motive to provide premium security solutions at lower prices to clients. Under this partnership, the SOCaaS of 360 SOC was integrated with the threat detection power of AI of Stairwell. It is highly automated and scalable but offered at affordable prices for all the shapes and sizes of a company.
• October 2023: Check Point Software Technologies Ltd. Released a new addition to its Check Point Infinity Global Services. New ones are advanced MDR capabilities, managed cloud security, and managed network security along with NOC and SOC as a service.
• July 2023: NTT Data introduced an option to outsource log analysis to the MDR security service. This was aimed at preventing cyberattacks and reducing damage in case of such attacks. The firm offered and supported threat analysis using its SOCaaS service with log analysis through the log monitoring platform.

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This report covers following segments:
A. Vertical
1. Network Security
2. Endpoint Security

B. Service Type
1. Threat Detection
2. Managed SIEM & Log

C. Application
1. Network Security
2. Cloud Security

This report covers following key players:
1. Cloudflare
2. Kaseya
3. Arctic Wolf
4. Proficio
5. Airbus
6. ConnectWise
7. AT&T
8. Fortinet
9. Atos
10. Verizon
11. NTT
12. Thales
13. Lumen Technology
14. Trustwave
15. Clearnetwork, Inc

Exploring New Frontiers in SOC as a Service Innovation

Increasing frequency of remote work and advanced cyber threats have produced a dire need for stronger security measures globally, and as an outcome, the global SOC as a Service market is growing at an incredible pace. However, the integration of cutting-edge technologies such as blockchain, artificial intelligence, and machine learning has started to open doors for innovation.

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