Security Operation Center Market 2019 – 2023: Global Profit Analysis, Industry Segments, Top Key Players, Drivers and Business Trends
Security Operations Center Market Overview:
The security operation center market is expanding at a rapid pace in tandem with the call for an overhauling change in organizational infrastructure to maximize security. The change has been triggered by recent cybercrime that have endangered the prospect of multiple organizations. The system is gaining more prominence in the corporate sector. But its advantage in providing aster response, collaborative work, and know-how about the entire organization are giving it credibility that is difficult to ignore now.
The global Security Operation Center Market is set to achieve robust growth during the forecast period of 2018-2023. Market Research Future (MRFR) claims in a report that it can possibly exceed its estimated valuation by 2023 as well. The report also includes detail segmental analysis, and covers factors that can impact the security operation center market in the coming years.
As the market’s main motivator, security concerns regarding crime attacks is pivotal. This can breach confidentiality and release data of soft nature to hamper company’s market prospect. At the same time, centralized system provides better functional capability using which organizations can use their optimum potential. It brings down the cost considerably by providing safeguard against cybercrimes. But the market is yet to overcome its drawbacks as initial setup cost is quite high which deters many from initiating such elaborate program. However, with advanced technologies, this problem can be tackled.
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Major Key Players:
Some of the major players in Global Security Operations Center Market include Capgemini SE (France), Cisco Systems Inc. (US), SecureWorks Inc. (US), Symantec Corporation (US), Raytheon Company (US), Treo (Turkey), Digital Guardian (US), F5 Networks Inc. (US), Fortinet, Inc. (US), and AT&T (US) among others are profiled in MRFR Analysis and are at the forefront of competition in the Global Security Operations Center Market.
Industry News:
April 2018, AlienVault, a provider of unified security management acquired by AT&T, unveiled its OTX Endpoint Threat Hunter service which scans threat in the organizations environment. It provides on-demand visibility of endpoint devices and critical security insights that diminish business risks. This allows organization to work efficiently without data breach concerns.
January 2018, SecureWorks Inc., a cyber security company formed an alliance with Carahsoft, an IT solution provider to deliver and protect critical data with the assistance of managed cyber security solutions focusing on the public sector. This alliance enables the protection of crucial government and citizen data by adapting security policies and digital transformation of an organizations core services.
Security Operations Center Market Segmentation:
The security operation center market has been segmented on the basis of technology, function, service and model.
The service segment is further bifurcated into reporting, vulnerability assessment, security assessment, security alert and proactive analysis and systems management. Proactive analysis is aimed at improving the level of organizational security.
Security Operations Center Market Regional Analysis:
Geographically, the security operations center market is grouped into four regions namely North America, Europe, Asia-Pacific, and the rest of the world.
Increased cloud adoption in enterprises for core business functions leads to cyber-attacks and cybercrime which is expected to be a factor encouraging the growth of the security operations center market in North America. Owing to this, the region is expected to dominate the market with the largest market share during the assessment period. The US, Canada, and Mexico are leading countries in North America, owing to the adoption of security operation centers in organizations to ensure data security. Cisco Systems Inc., SecureWorks Inc., Symantec Corporation, Raytheon Company, and AT&T in the US are enhancing advanced data security architecture and are considered to be prominent players globally. Asia Pacific is expected to be the fastest growing region in the security operations center market, due to rising need for data security in large enterprises.
China, Japan, and India are leading countries in the region, due to the vast customer base leading to rising security concerns in these countries. Europe is expected to show a high growth rate during the assessment period owing to the increasing investments of tech leaders such as Microsoft, Intel, IBM, and others in the European IT market.
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Intended Audience:
- Technology investors
- Integrated device manufacturers (IDMs)
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
- Government agencies
- Network solution providers
- Managed Security Service Providers
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