Security Operations Center Market Size Worth $83.55 Billion By 2028 | CAGR: 11.9%: Exclusive Report by Polaris Market Research>
The Ridgway Record
Polaris Market Research.According to the new market research report âSecurity Operations Center Market Share, Size, Trends, Industry Analysis Report, By Service; By End-Use (BFSI, Healthcare, Manufacturing, IT & Telecom, Retail, Transportation); By Organization Size (Large Enterprises, Small & Medium-Sized Businesses); By Model; By Regions; Segment Forecast, 2021 â 2028â published by Polaris Market Research The global security operations center (SOC) market size was valued at USD 34.73 billion in 2020 and size is expected to reach USD 83.55 billion by 2028 to grow at a CAGR of 11.9% during the forecast period (2021-2028). The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing investments by small & medium sized businesses in the market along with technological advancement in telecommunication industry is expected to drive the market growth during the forecast period. Small and medium sized businesses are increasingly adopting security operations center to maintain efficient workflow, prevent data loss and theft, defend against external attacks, monitor security risks, and manage resources.

There has been an increasing demand for outsourced segment. Outsourced segment offers a secure environment, dedicated workforce, and advanced IT safety toolsets. Outsourced segment is capable of offering optimized services through analyzing trends and detection of common patterns, and other monitored environments. Other advantages of this include reduced costs, access to threat intelligence, ease of implementation, increased flexibility and scalability, and improved efficiency.

North America dominated the global market in 2019 and is expected to maintain its dominance over the forecast period. The adoption of security operations center has increased in retail, healthcare, transportation, and manufacturing in the region. The institution continuously monitors enterprise networks, devices, appliances, and information stores for detection of advanced threats, alert management, threat response, log management, compliance management, and preventive maintenance.

Integration of security operations center enable enterprises to increase operational efficiency and align with business objectives and compliance. The rising need for monitoring and reporting access activities and protection of financial data and consumer information from external sources have increased the adoption of security operations center.
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