Europe SOC as a Service Market Forecast to 2030 - Regional Analysis - by Service Type (Prevention Service, Detection Service, and Incident Response Service), Enterprise Size (Large Enterprises and SMEs), Application (Network Security, Endpoint Security, Application Security, and Cloud Security), and Industry (BFSI, IT and Telecom, Manufacturing, Retail, Government and Public Sector, Healthcare, and Others)
The Europe SOC as a service market is expected to grow from US$ 1,713.31 million in 2022 to US$ 3,970.10 million by 2030. It is estimated to register a CAGR of 11.1% from 2022 to 2030.
Rising Demand for SOCaaS in Finance Sector Drives Europe SOC as a Service Market
Financial and banking institutes handle a vast amount of sensitive data, which makes them a prime target for cyberattacks. Also, digitalization and securing business continuity are highly prioritized in the finance industry. This increases the demand for SOCaaS solutions. SOCaaS providers help banks monitor networks and systems 24/7, ensuring quick detection and mitigation of potential security threats and reducing the data breach risk. In addition, SOCaaS providers also help banks to comply with various regulatory requirements. For instance, the Payment Card Industry Data Security Standard (PCI DSS) requires banks to have a robust security program. They can help banks meet such regulatory requirements by providing the needed monitoring, analysis, and reporting capabilities.
Moreover, in recent years, financial institutions witnessed a large number of data breach cases. As of December 2022, finance and insurance organizations experienced ~566 breaches worldwide, which led to over 254 million leaked records. In addition, according to the State of Ransomware in Financial Services 2023 report released by Sophos, the ransomware attacks on financial services increased from 55% in 2022 to 64% in 2023, which is approximately double the 34% reported in 2021. Hence, due to the rise in data breach cases, various banks across the globe are integrating SOCaaS solutions. Thus, the growing recognition of the essential need for comprehensive and exhaustive SIEM and threat intelligence solutions by banks is raising the demand for SOCaaS, thereby driving the market.
Europe SOC as a Service Market Overview
Germany, France, the UK, and Italy are among the major countries contributing to the growth of the Europe SOC as a Service market. The growing number of cyberattacks, incidents, and new ransomware detections drives the demand for the SOC as a Service. The severity of cyber breaches is becoming highly intense in (Western) European countries, including the Netherlands, the UK, Bulgaria, Belarus, Ukraine, France, Lithuania, and Romania, among others. According to AAG, 39% of businesses in the UK reported suffering from cyberattacks, which incurred an average cost of US$ 5,108.5 million to businesses in 2022. Business owners are losing huge profits due to a rise in cyberattacks, which increases the demand for SOC as a Service among customers to protect data from cyberattacks. Furthermore, the Russia-Ukraine war increased the number of cyberattacks in Europe, which is expected to increase the demand for SOC as a Service among businesses in Europe. According to data published by Thales Group, in March 2022, the rise of cyberattacks in the European Union (EU) countries increased from 9.8% to 46.5% in 2021. The data shows that a direct increase in these attacks is associated with the Ukrainian conflict, while 61% of the global cyberattacks originate from Russia. The rising cyberattack cases in Europe are increasing the demand and adoption of SOC as a Service among industries to protect their confidential data and information. The market in Europe is projected to expand during the forecast period due to the presence of major players such as Atos SE and Thales Group. These players continuously expand their presence across the region to help their customers protect sensitive data from cyberattacks or breaches. For instance, in March 2022, Atos SE opened a next-generation Security Operations Center (SOC) in Bulgaria. The new center was opened in Sofia, supporting the company to strengthen its sovereign security offering in Europe. The center is designed to provide 24/7 threat monitoring, detection, and targeted customer response. The center supports large organizations in rapidly identifying and limiting the impact of cyberattack incidents. Atos SE leverages artificial intelligence (AI) and machine learning (ML) technologies to strengthen its SOC network and help organizations protect their confidential information and customer's data from cyberattacks.
Europe SOC as a Service Market Revenue and Forecast to 2030 (US$ Million)
Europe SOC as a Service Market Segmentation
The Europe SOC as a service market is segmented into service type, enterprise size, application, industry, and country.
Based on service type, the Europe SOC as a service market is segmented into prevention service, detection service, and incident response service. The prevention service segment held the largest share of the Europe SOC as a service market in 2022.
Based on enterprise size, the Europe SOC as a service market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the Europe SOC as a service market in 2022.
Based on application, the Europe SOC as a service market is segmented into network security, endpoint security, application security, and cloud security. The endpoint security segment held the largest share of the Europe SOC as a service market in 2022.
Based on industry, the Europe SOC as a service market is segmented into BFSI, IT and telecom, manufacturing, retail, government and public sector, healthcare, and others. The BFSI segment held the largest share of the Europe SOC as a service market in 2022.
Based on country, the Europe SOC as a service market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Germany dominated the Europe SOC as a service market in 2022.
AT&T Inc, Atos SE, Cloudflare Inc, ConnectWise LLC, Fortinet Inc, NTT Data Corp, Thales SA, and Verizon Communications Inc are some of the leading companies operating in the Europe SOC as a service market.
Table of Content
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe SOC as a Service Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain:
5. Europe SOC as a Service Market - Key Industry Dynamics
5.1 Drivers
5.1.1 Growing Cyberattack Incidents Across Various Industries
5.1.2 Rising Demand for SOCaaS in Finance Sector
5.2 Market Restraints
5.2.1 Adherence to Stringent Regulations and Compliance
5.3 Market Opportunities
5.3.1 Growing Adoption of SOCaaS in SMEs
5.3.2 Rising Need for Cloud Security
5.4 Market Trends
5.4.1 Adoption of SOCaaS in the Healthcare Sector
5.4.2 Technological Advancements in SOCaaS
5.5 Impact of Drivers and Restraints:
6. SOC as a Service Market - Europe Market Analysis
6.1 Europe SOC as a Service Market Revenue (US$ Million), 2022 - 2030
6.2 Europe SOC as a Service Market Forecast and Analysis
7. Europe SOC as a Service Market Analysis - Service Type
7.1 Prevention Service
7.1.1 Overview
7.1.2 Prevention Service Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Detection Service
7.2.1 Overview
7.2.2 Detection Service Market Revenue and Forecasts to 2030 (US$ Million)
7.3 Incident Response Service
7.3.1 Overview
7.3.2 Incident Response Service Market Revenue and Forecasts to 2030 (US$ Million)
8. Europe SOC as a Service Market Analysis - Enterprise Size
8.1 Large Enterprises
8.1.1 Overview
8.1.2 Large Enterprises Market Revenue and Forecasts to 2030 (US$ Million)
8.2 SMEs
8.2.1 Overview
8.2.2 SMEs Market Revenue and Forecasts to 2030 (US$ Million)
9. Europe SOC as a Service Market Analysis - Application
9.1 Network Security
9.1.1 Overview
9.1.2 Network Security Market Revenue and Forecasts to 2030 (US$ Million)
9.2 Endpoint Security
9.2.1 Overview
9.2.2 Endpoint Security Market Revenue and Forecasts to 2030 (US$ Million)
9.3 Application Security
9.3.1 Overview
9.3.2 Application Security Market Revenue and Forecasts to 2030 (US$ Million)
9.4 Cloud Security
9.4.1 Overview
9.4.2 Cloud Security Market Revenue and Forecasts to 2030 (US$ Million)
10. Europe SOC as a Service Market Analysis - Industry
10.1 BFSI
10.1.1 Overview
10.1.2 BFSI Market Revenue and Forecasts to 2030 (US$ Million)
10.2 IT and Telecom
10.2.1 Overview
10.2.2 IT and Telecom Market Revenue and Forecasts to 2030 (US$ Million)
10.3 Manufacturing
10.3.1 Overview
10.3.2 Manufacturing Market Revenue and Forecasts to 2030 (US$ Million)
10.4 Retail
10.4.1 Overview
10.4.2 Retail Market Revenue and Forecasts to 2030 (US$ Million)
10.5 Government and Public Sector
10.5.1 Overview
10.5.2 Government and Public Sector Market Revenue and Forecasts to 2030 (US$ Million)
10.6 Healthcare
10.6.1 Overview
10.6.2 Healthcare Market Revenue and Forecasts to 2030 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
11. Europe SOC as a Service Market - Country Analysis
11.1 Europe
11.1.1 Europe SOC as a Service Market Overview
11.1.2 Europe SOC as a Service Market Revenue and Forecasts and Analysis - By Countries
11.1.2.1 France: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.1.1 France: Europe SOC as a Service Market Breakdown by Service Type
11.1.2.1.2 France: Europe SOC as a Service Market Breakdown by Enterprise Size
11.1.2.1.3 France: Europe SOC as a Service Market Breakdown by Application
11.1.2.1.4 France: Europe SOC as a Service Market Breakdown by Industry
11.1.2.2 Germany: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.2.1 Germany: Europe SOC as a Service Market Breakdown by Service Type
11.1.2.2.2 Germany: Europe SOC as a Service Market Breakdown by Enterprise Size
11.1.2.2.3 Germany: Europe SOC as a Service Market Breakdown by Application
11.1.2.2.4 Germany: Europe SOC as a Service Market Breakdown by Industry
11.1.2.3 UK: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.3.1 UK: Europe SOC as a Service Market Breakdown by Service Type
11.1.2.3.2 UK: Europe SOC as a Service Market Breakdown by Enterprise Size
11.1.2.3.3 UK: Europe SOC as a Service Market Breakdown by Application
11.1.2.3.4 UK: Europe SOC as a Service Market Breakdown by Industry
11.1.2.4 Italy: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.4.1 Italy: Europe SOC as a Service Market Breakdown by Service Type
11.1.2.4.2 Italy: Europe SOC as a Service Market Breakdown by Enterprise Size
11.1.2.4.3 Italy: Europe SOC as a Service Market Breakdown by Application
11.1.2.4.4 Italy: Europe SOC as a Service Market Breakdown by Industry
11.1.2.5 Russia: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.5.1 Russia: Europe SOC as a Service Market Breakdown by Service Type
11.1.2.5.2 Russia: Europe SOC as a Service Market Breakdown by Enterprise Size
11.1.2.5.3 Russia: Europe SOC as a Service Market Breakdown by Application
11.1.2.5.4 Russia: Europe SOC as a Service Market Breakdown by Industry
11.1.2.6 Rest of Europe: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.6.1 Rest of Europe: Europe SOC as a Service Market Breakdown by Service Type
11.1.2.6.2 Rest of Europe: Europe SOC as a Service Market Breakdown by Enterprise Size
11.1.2.6.3 Rest of Europe: Europe SOC as a Service Market Breakdown by Application
11.1.2.6.4 Rest of Europe: Europe SOC as a Service Market Breakdown by Industry
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Fortinet Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Atos SE
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 NTT Data Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Verizon Communications Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Thales SA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 AT&T Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Cloudflare Inc
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 ConnectWise LLC
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 Word Index
List of Tables
Table 1. Europe SOC as a Service Market Segmentation
Table 2. Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Million) - Service Type
Table 4. Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Million) - Enterprise Size
Table 5. Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Million) - Application
Table 6. Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Million) - Industry
Table 7. Europe SOC as a Service Market, by Country - Revenue and Forecast to 2030 (USD Million)
Table 8. France: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Service Type
Table 9. France: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Enterprise Size
Table 10. France: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 11. France: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Industry
Table 12. Germany: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Service Type
Table 13. Germany: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Enterprise Size
Table 14. Germany: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 15. Germany: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Industry
Table 16. UK: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Service Type
Table 17. UK: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Enterprise Size
Table 18. UK: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 19. UK: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Industry
Table 20. Italy: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Service Type
Table 21. Italy: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Enterprise Size
Table 22. Italy: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 23. Italy: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Industry
Table 24. Russia: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Service Type
Table 25. Russia: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Enterprise Size
Table 26. Russia: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 27. Russia: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Industry
Table 28. Rest of Europe: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Service Type
Table 29. Rest of Europe: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Enterprise Size
Table 30. Rest of Europe: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 31. Rest of Europe: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn) - By Industry
Table 32. List of Abbreviation
List of Figures
Figure 1. Europe SOC as a Service Market Segmentation, By Country
Figure 2. Ecosystem: Europe SOC as a Service Market
Figure 3. Europe SOC as a Service Market - Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe SOC as a Service Market Revenue (US$ Million), 2022 & 2030
Figure 6. Europe SOC as a Service Market Share (%) - Service Type, 2022 and 2030
Figure 7. Prevention Service Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Detection Service Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Incident Response Service Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Europe SOC as a Service Market Share (%) - Enterprise Size, 2022 and 2030
Figure 11. Large Enterprises Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. SMEs Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Europe SOC as a Service Market Share (%) - Application, 2022 and 2030
Figure 14. Network Security Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Endpoint Security Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Application Security Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Cloud Security Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Europe SOC as a Service Market Share (%) - Industry, 2022 and 2030
Figure 19. BFSI Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. IT and Telecom Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Manufacturing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Retail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Government and Public Sector Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. Healthcare Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Europe SOC as a Service Market, By Key Country - Revenue (2022) (US$ Million)
Figure 27. SOC as a Service Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 28. France: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 29. Germany: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 30. UK: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 31. Italy: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 32. Russia: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 33. Rest of Europe: Europe SOC as a Service Market Revenue and Forecasts to 2030 (US$ Mn)
1. AT&T Inc
2. Atos SE
3. Cloudflare Inc
4. ConnectWise LLC
5. Fortinet Inc
6. NTT Data Corp
7. Thales SA
8. Verizon Communications Inc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe SOC as a Service Market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Europe SOC as a Service Market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.