ALM Intelligence Research: Rising Cybersecurity Threats will Likely Spur Security Operations Center Consulting Market Growth
Report finds demand for SOC consulting services is growing as cyber-attacks increase in number and sophistication, and IT landscape becomes more complex; this and other trends will be discussed at ALM cyberSecure event in September
New York, NY—June 2, 2016—Cyber-attacks are increasing in number and sophistication, heightening the urgency for companies to formalize and strengthen their cybersecurity measures. ALM Intelligence’s Security Operations Center Consulting report finds that, in response to rising cyber risk, many companies are choosing to engage with consulting firms to create and enhance a centralized framework that can detect, monitor and respond to cybersecurity threats through a security operations center (SOC).
“While it’s not surprising what factors are driving companies to spend money on SOC consulting—such as an increasingly complex IT landscape, slow and outdated threat detection and response capabilities, and a realization that the ‘check-the-box’ approach to SOC does not provide adequate protection or insight—what is surprising is the lack of urgency to formalize and strengthen SOC capabilities,” said Erin Hichman, ALM Intelligence Senior Analyst and Lead Analyst for IT Consulting Research. “Our findings indicate that while there has been a surge in demand for cybersecurity consulting, consulting firms need to use this momentum to educate clients on the important role the SOC function plays, and the risk involved in turning a blind eye to the rising cyber-attack threat.”
The Security Operations Center Consulting report examines how consulting firms are helping companies establish and advance their SOC functions by providing guidance related to IT investment, organization and processes. The study’s findings indicate that the SOC consulting market will likely experience growth as the increasing complexity of the IT landscape and rising cybersecurity threats drive more companies to enhance their SOC capabilities.
When compiling the report, ALM Intelligence leveraged its in-depth assessments of 19 consulting firms. Each firm was evaluated based on SOC strategy, SOC design, SOC operations advisory, event management advisory and SOC analytics/intelligence advisory capabilities. Data used in the study comes from the SOC market size and forecast period of 2014-2018. To obtain a copy of the study, visit http://at.alm.com/SOC.
SOC and other cybersecurity themes will be addressed at ALM’s cyberSecure, which harnesses content and insights from across multiple ALM divisions to help attendees from multiple industries—including legal, real estate, insurance, finance and consulting—develop suitable plans to detect and counter cyber-attacks, maintain business continuity, and facilitate growth in today’s digital age.
“News about major data breaches and other cyber-crimes has become the new norm, and with businesses becoming increasingly digital, cybersecurity is going to change the roles of all execution-suite executives—but this trend can also prove constructive for many organizations,” says John Stuttard, ALM Senior Vice President of Global Events. “The 2016 ALM cyberSecure conference emphasizes business continuity and growth prospects through actionable ideas that spotlight the following themes: Control and Contain, Detect and Respond, and Recovery and Growth. The event will provide the tools and information essential for executives to lead some of the biggest changes that their businesses will undergo in the upcoming years.”
Later this year, cybersecurity industry experts and more than 1,000 attendees will come together to discuss trends and share insights at ALM cyberSecure. The event, scheduled for September 27-28, 2016 at the New York Hilton Midtown, will offer educational sessions, workshops and networking opportunities, as well as a showcase for exhibitors. For more information or to register, visit www.almcybersecure.com.
About ALM Intelligence
ALM Intelligence provides accurate and reliable market sizing and forecasts on consulting services worldwide, needs-analysis and vendor profiling for buyers of consulting services, timely and insightful intelligence on the top consulting firms in their respective markets, and operational benchmarks that measure consulting performance.
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