Augmented Security Management: A Guide to Comprehensive Solutions Offered by SOC as a Service Companies

SOC as a service refers to a framework for security that entails the operation and supervision of a fully managed security operations center by a third-party provider of services with the help of a subscription model through the cloud. It entails all functions of security specifically conducted by an internal SOC, including threat detection & intelligence, reporting, incident investigation & response, risk and compliance activities, log management, and network monitoring.

These solutions aid in consistent monitoring, reduction of cost, and decrease the burden on internal teams while reducing cyber risks. The tightening regulations pertaining to data protection, a growing number of cyber threats, a remote workforce, and a surge in the deployment of advanced technologies are fostering the market growth. The rising emphasis of businesses on proactive cybersecurity initiatives is poised to lead to an increase in the demand for AI-enabled solutions, further driving the market growth.

As per a report by Fortune Business Insights™, the market for SOC as a service reached USD 5.87 billion in 2022 and is set to reach USD 16.31 billion by 2030 with a CAGR of 13.8% during 2023-2030. The market was valued at USD 6.60 billion in 2023.

Fortune Business Insights™ Profiles Top 10 Key Players/Companies in the SOC as a Service Market

1) NTT DATA Group

NTT DATA Group offers incident response capabilities to aid companies in the effective mitigation and remediation of security incidents. In addition, security analysts carry out investigations of alerts, coordination of incident response efforts, and evaluation of the severity of threats for the neutralization of cyber threats. In July 2023, the company announced the release of an outsourcing service for the management of the service to decrease damage when incidents occur while preventing cyber threats.

2) Verizon

Verizon SOC as a service provides comprehensive security management and monitoring solutions. It is specifically inclusive of consistent monitoring of endpoint and network devices, incident response, and real-time threat detection. Its offers may also entail vulnerability management and threat intelligence while offering companies a holistic approach to cybersecurity. In August 2023, the company offered support to Japan-based Fujifilm by offering its cyber security monitoring and cyber intelligence capabilities.

3) Lumen Technologies

One of the leading SoC as a service companies, Lumen Technologies is a communication and IT services provider that offers a comprehensive solutions portfolio to aid consumers and businesses in collaborating, innovating, and connecting in today’s digital economy. It offers SOC services to assist the IT team of companies in getting transparency into cyber security while providing fully managed threat detection. In October 2023, the company surged its emphasis to offer cloudify traditional network services by deploying its Network-as-a-Service (NaaS) platform with Equinix Fabric.

4) AT&T

AT&T provides advanced response and security monitoring capabilities. It is inclusive of attributes, such as incident responses, proactive threat hunting, and consistent threat detection. One of the leading SoC as a service companies also provides security analytics, vulnerability management, and integrated threat intelligence feeds to offer comprehensive protection for companies. In November 2023, the company released new managed security services for businesses of all sizes.

5) Fortinet, Inc.

Fortinet, Inc. provides comprehensive security management and monitoring solutions customized to the requirements of businesses making it some of the leading SoC as a service companies. Its offerings may deploy compliance reporting, vulnerability management, and threat intelligence feeds for the assurance of fulfilment of industry standards and regulatory needs of companies. In January 2023, the company announced the expansion of its portfolio of training and services offerings by providing human-based SOC augmentation services to aid SOC teams in preventing and defending against cyber attacks.

6) Thales

Thales SOC as a service provides advanced security management and monitoring solutions developed for the protection of companies against evolving cyber threats. Its offerings may also cover attributes, including security analytics, threat intelligence deployment, and log management, to offer comprehensive protection for businesses. In May 2022, the company was involved in the acquisition of two Europe-based cybersecurity solution provider firms, including Excellium and S21sec, to strengthen its SOC services.

7) Check Point Software Technologies Ltd.

Check Point Software Technologies Ltd. provides strong SOC as a service that offers comprehensive security management and monitoring solutions. Its SOC offering is often customized to the particular requirements and compliance needs of every organization, providing customizable solutions to address distinct security issues. In March 2023, the company launched Infinity Global Services, a new security solution in its portfolio. Through this solution, companies of all sizes can improve their system, from cloud to networks to endpoint.

8) Cloudflare, Inc.

Cloudflare, Inc.'s offerings are inclusive of DDoS protection, DNS security, and web application firewall (WAF) for protection against a diverse array of cyber threats. Its solutions, powered by its wide network security expertise and network infrastructure, enable companies to take advantage of dependable and scalable security solutions. In September 2022, the SOC as a service solutions provider inked a deal with web application firewall (WAF) to release a solution for enterprises of all sizes. This deal will offer full-stack security services to companies.

9) Kaseya

Kaseya’s solutions are powered by the company’s experienced security professionals and advanced technology platform, which enables companies to take advantage of cost-effective and scalable security solutions. Businesses can enhance incident response times, decrease the risk of cyber attacks, and improve their security defenses by deploying their SOC. In November 2023, it announced the release of Help Desk Services, which enables companies to outsource daily IT tickets to bolster the profits of customers.

10) ConnectWise

ConnectWise is a software solutions provider customized to the requirements of managed service providers, IT professionals, and technology service providers. Its offerings deploy attributes, including threat intelligence feeds, security analytics, and log management, to offer companies actionable insights into their security posture. In June 2023, the company announced the extension of its deal with Bitdefender to offer Advanced Threat Security, an improved cybersecurity solution to customers and IT solution providers.

SOCaaS: A Solution Against Cybercrimes

SOC as a service deploys tools for the consistent scanning of the network and detects abnormal activities. It helps detect the emerging threats, preventing the crucial data in the early stages. Nowadays, cloud-based SOCs have come to the forefront to provide enhanced protection to businesses. Several businesses, specifically SMEs, are making their move toward these solutions to offer cost-effective solutions to customers. SOCaaS, which is a subscription-based threat response and detection service, has also gained immense traction. It enables organizations to access advanced security capabilities without the requirement for massive infrastructure investments and specialization. In addition, the deployment of innovative technologies, including ML and AI, improves the SOC attributes.