Top Fortune 500 companies are expanding their efforts to combat security challenges. Security Operations Center market is becoming competitive but also offers ample opportunity for the vendors to grow as we expect a greater number of SOCs to be set up across the globe. Many organizations outsource their security functions for cost-effectiveness and expertise in software updates of the security software. Organizations are facing tremendous threats through their networks and points. Enterprises are enhancing their security operations with 24×7 monitoring and real-time insights. The SOC establishment is expected to improve the network survilliance and quick detection. The SOC vendors are expected to expand their partner networks improving data integration, system integration, and compliance control in systems.
Enterprises across the globe are looking to make the security operations smoother by outsourcing, majorly the detection and monitoring with majority of organizations keeping the response expertise in-house. Technologies such as IoT and increasing end points that access various system data have increased the vulnerability of the organization’s system and infrastructure. The influx of AI and ML is likely to derive more insights to enhance system protection and quick pattern detection in cyber-attacks. The automation and AI are expected to transform the security measures of organizations with in-depth visibility of networks and response systems. The SOC market is expected to grow with security vendors, major service players, and telecom providers joining the race.
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The market is growing with the presence of IT and telecom giants and pure play security vendors. The data center and colocation services is growing which is expected to boost the security and Security Operations Center market. Capgemini, Cisco, Symantec, SecureWorks, and IBM are few of the companies profiled in the report. The SOC vendors are focusing on innovating various application or technology that detect the advanced threats with organic and inorganic strategies to broaden its security products and services portfolio.
ICT – Research Analyst