Ethiopia SOC-as-a-Service Market Seen Growing to $24.74 Million by 2034

By AI, Created 10:23 AM UTC, May 19, 2026, /AGP/ – Ethiopia’s SOC-as-a-service market was valued at $9.15 million in 2025 and is projected to more than double to $24.74 million by 2034, driven by rising cyberattacks, new data protection rules and rapid digital payments growth. The report points to stronger demand from banks, telecom operators and government agencies as they seek outsourced security monitoring and compliance support.

Why it matters: - Ethiopia’s expanding digital economy is increasing the need for outsourced security operations. - The market’s projected rise to $24.74 million by 2034 signals growing demand for continuous monitoring, incident response and compliance reporting. - Banks, telecom operators and government agencies face heavier pressure to defend larger networks and payment systems.

What happened: - IMARC Group said Ethiopia’s SOC-as-a-service market reached $9.15 million in 2025. - The market is projected to reach $24.74 million by 2034. - IMARC Group forecast a 11.68% compound annual growth rate for 2026-2034. - The report linked the market’s growth to Digital Ethiopia 2030, rising cyberattacks and a cybersecurity talent shortage. - The report also pointed to the company’s announcement and the full report.

The details: - The Information Network Security Agency foiled more than 50,000 cyberattacks in nine months of the current fiscal year. - Ethiopia faces more than 11,000 cyberattacks per organization per week, according to the report. - The agency said it thwarted 99% of attacks targeting critical national infrastructure through 24-hour monitoring. - The Personal Data Protection Proclamation No. 1321/2024 requires breach notification within 72 hours and stronger data governance. - Ethiopian banks have increased cybersecurity spending by 35% after central bank guidance on quarterly security assessments. - The National Bank of Ethiopia launched the National Digital Payment Strategy 2026-2030 and a national instant payments platform. - Ethio Telecom reported 97 million mobile subscriptions and 57 million internet users. - Telebirr served 52.56 million customers. - Safaricom Ethiopia said its active customer base rose 54.2% year over year to 13.6 million. - Safaricom Ethiopia said M-PESA users doubled to 5.2 million. - The government froze 10 payment gateway providers in early 2026 pending financial disclosures. - IMARC Group said Ethiopia’s cloud computing market is valued at $918.8 million. - Ethio Telecom is developing a hyperscale data center with Shandong Hi-Speed Group. - RailTel Corporation of India won a $2.2 million contract for a government data center at the Ministry of Foreign Affairs. - Ethio Telecom introduced seven cloud-based enterprise solutions in Addis Ababa. - Safaricom Ethiopia operates under a $850 million, 15-year license with an $8 billion investment commitment. - Safaricom Ethiopia reported FY26 service revenue of ETB 15.9 billion, up 130.9%.

Between the lines: - The report shows a market being pulled by regulation as much as by cyber risk. - New payment rails and mobile money growth are creating more transactions, more logs and more compliance obligations. - The talent shortage makes outsourced SOC services more attractive than building internal teams. - AI is becoming a core feature of SOC offerings because the alert volume is too high for manual review alone. - The report’s emphasis on compliance suggests buyers may prioritize managed SIEM, log management and audit support over standalone detection tools.

What’s next: - Demand is likely to rise as Digital Ethiopia 2030 expands mobile access and 5G coverage. - More organizations are expected to adopt managed SOC models to meet breach reporting and monitoring requirements. - AI-driven threat detection, SOAR automation and compliance analytics are likely to shape the next phase of product development. - IMARC Group categorized the market by managed SIEM and log management, vulnerability scanning and assessment, and threat detection and remediation. - IMARC Group also segmented the market by endpoint security, network security and cloud security, with coverage across Addis Ababa, Oromia, Amhara, SNNPR, Tigray and other regions.

The bottom line: - Ethiopia’s SOC-as-a-service market is moving from a niche security spend to a compliance and resilience necessity.