Rise in Cyber Attacks Increase Growth of Cloud-Based SIEM SolutionThe rise in technological advancements and dependence on online platforms means cybersecurity solutions are more important now than ever before. In 2018, 765 million individuals were affected by cybersecurity attacks and data breaches in the months of April, May and June alone. Throughout these months, the industry as a whole experienced a 47 percent jump in cybersecurity breaches compared to the same period in 2017. There is no doubt that the world’s digital transformation has invited cyber criminals to the table, so how do we protect our organizations in the ever-changing landscape of cybersecurity? The answer lies within security information and event management (SIEM).
SIEM is a top security solution worldwide. Leaders of the cybersecurity market use SIEM to provide insight into data center activities and to detect security abnormalities. As cloud usage grows, organizations are interested in security solutions that are well-integrated with the cloud ecosystem. In 2019, we expect to see more companies integrating cloud-based tools into SIEM solutions.
The transition to cloud-based solutions has already begun, but it has a long way to go. Advanced SIEMs currently include security orchestration and automated response (SOAR), and user and entity behavior analytics (UEBA). SOAR allows organizations to collect and process greater volumes of data, enabling teams to make better-informed and reliable decisions, while UEBA provides enhanced threat detection capabilities.
Take our partner LogRhythm for example. A leader in the 2018 Gartner SIEM Magic Quadrant, LogRhthym provides SIEM solutions extending far beyond the first-gen SIEM platform. Alongside SOAR and UEBA solutions, they offer network traffic and behavior analytics, file integrity monitoring, network forensics and log management solutions. The LogRhythm NextGen SIEM Platform properly fights threats and protects data by monitoring both the on premise and cloud infrastructure and applications. It also provides:
- Greater visibility into cloud authentication and access activity
- Access control management to cloud services
- Automatic alerts based on suspicious cloud usage
- Pre-built reports highlighting access, usage, and modifications
- Advanced security analytics
The NextGen SIEM’s Threat Lifecycle Management (TLM) capabilities serve as a detection and response framework for security operation centers (SOCs) to accelerate threat detection and recovery. This framework streamlines administrative work and uses CloudAI to detect unforeseeable threats via learning machines. The NextGen SIEM provides comprehensive visibility into cloud-based services with improved accessibility to minimize risks in the ever-changing cloud landscape of cybersecurity.
The evolution of security tool capabilities continue to maximize the benefits of SIEM solutions. According to ‘Security Information and Event Management (SIEM) – Global Market Analysis & Forecast, 2019 to 2023,’ cloud solutions have become an important market driver for SIEM, delivering built-in security controls and advanced threat detection to protect against hackers and data breaches. It is predicted that cloud-based SIEM will appeal to mid-sized companies because it is more affordable than physical SIEM appliances or software. With an increase in data threats, growing government initiatives and the demand for cloud computing, we expect the cybersecurity market will see a larger demand for cloud-based SIEM solutions in its future.
