New York, Aug. 14, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "SOC as a Service Market by Component, Service Type, Offering Type, Application Area, Industry Vertical And Region - Global Forecast to 2025" -
6% during the forecast period. The increasing venture capital funding and growing investments in SOC as a Service technology to drive the market growth.
• By component, services segment to grow at a higher cagr during the forecast period

The services include the support offered by security vendors to assist their customers in using and maintaining SOCaaS efficiently.Vendors offer different services, such as consulting, training and education, and support and maintenance.

The services segment has witnessed tremendous growth in recent years. Therefore, servicessegment registers the highest growth rate during the forecast period.

By service type, thedetection service segment to registerthe highestgrowth rate during the forecast period
The detection service provides the ability to detect fraudulent activities across enterprise networks rapidly and responds to cyber incidents quickly and effectively.It also provides reports on security-related incidents and events, and sends alerts on analyzing any malicious activity.

Therefore, detection service segment holds the highest growth rate during the forecast period.

Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global SOC as a Servicemarket during the forecast period.APAC constitutes major economies, such as China, Japan, Singapore, and Australia and New Zealand, which are expected to register high growth rates in the SOC as a Servicemarket.

Industries such as financial institutions, government and public sector,healthcare, retail, manufacturing, energy and utilities,and others are expected to adopt SOC as a Servicesolutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
• By Company Type: Tier 1 – 23%, Tier 2 – 27%, and Tier 3 – 50%
• By Designation: C-level – 48%, D-level – 31%, and Others – 21%
• By Region: North America – 28%,Europe– 26%, Asia Pacific– 30%,MEA – 10%, Latin America- 6%

Major vendors offeringSOC as a Service solutions include AlienVault (US), BlackStratus (US), Cygilant (US), Thales E-security (France), Alert Logic (US), Proficio (US), Netmagic (India), Arctic Wolf Networks (US), AqmTechnologies (India), ESDS Software Solution (India), Suma Soft (India), GA Systems (Australia), Expel (US), Radar Cyber Security (Austria), Stratozen (US), Fortinet (US), Binary Defense (US).

Research Coverage
The market study covers theSOC as a Servicemarket size across segments.It aims at estimating the market size and the growth potential of this market across different segments by component, by service type, by offering type, industry vertical, application area, and region.

The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall SOC as a Servicemarket and itssub segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.

The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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