SOAR technology, short for Security Orchestration, Automation and Response, is an integrated package of four essential cyber security platforms:
A term first described by Gartner in 2015, SOAR technology is an efficient software that quickly identifies and resolves security threats.
SOAR locates threats by piecing together security data which it collects from multiple sources. It is pre-programmed to act according to the cues it receives from the collected data. Because of this reason, it eliminates the need for an analyst to overlook the entire resolution process. This lets an IT team direct their attention to more important problems, while SOAR deals with smaller, foreseen threats.
A SOAR tool can usually be customized to fit an organization’s needs, not least by automating responses surrounding the top priority resources. SOAR tools require an analyst to guide the resolution process after the threat is detected, to help it further automate the operation based on predefined standards.
With security attacks becoming more complex and persistent with each passing day, investing in preventative technological tools like SOAR is one of the most secure courses of action a business can take.
Today, attacks are becoming increasingly hard to forecast and counteract by security teams. The World Economic Forum’s 2020 Global Risk Report found the detection rate of security threats to be at an alarming 0.05 % in the United States. According to Ponemon Institute’s Cost of a Data Breach Report, it takes an organization approximately 200 days to recognize the breach, and up to 69 more days to resolve the issue. Not only will such attacks hamper an organization’s everyday operations, the recovery process might create a dent in its budget. It is estimated that cyber attacks could make companies globally lose up to $10.5 trillion annually by the year 2025.
“As we all know, a good security is not about preventing a hundred percent of the threats. That’s typically not realistic, but it is about finding which threats actually made it past your prevention defences, identifying those very very quickly and taking action. And that’s what SOAR solutions really help with.”
“SOAR is this Internet Response Capability, but taken on steroids. With much more capability.”
Any company could fall prey to cyber attacks, but certain industries like banks, healthcare, corporations and higher education are more prone to them, simply due to the kind of sensitive information and personal client details they store. In these organizations, it is not ideal to expect the security teams to critically analyze and act upon each small breach. The best solution is to employ SOAR technology to help resolve low-level threats without needing a security team’s immediate attention.
The data below, sourced from Statista, lists the average cost of a data breach worldwide by industry, from May 2020 to March 2023 (in million U.S. dollars).
Although SOAR technology cannot step up to fix unprecedented threats, it comes in handy for faster threat detection of incidents that might have slipped under the security team’s radar. IBM’s report has also found that attacks that were contained within a month saved more than $1 billion compared to the others. With SOAR technology, a company can detect threats as well as contain them in near-real time, thereby not only preventing attacks but also big expenses in the long run. Investing in SOAR technology is also more economical than engaging a workforce to manually inspect threats.
From 2022, the SOAR market is anticipated to have a Compound Annual Growth Rate of at least 10.9% year on year. With the advent of AI like ChatGPT, security attacks have not only become more advanced, bu
t also easy to generate. As a result, the tools that we use to combat these strikes are also evolving in complexity.
Some SOAR technologies today use AI and machine learning to enhance their performance. From monitoring patterns and predicting outcomes on unusual behaviors to remembering previous incidents and improving from those, AI has been assisting in the upgradation of SOAR technology in significant ways.
Future Markets Insights predicts that the SOAR market shares will increase from $1.3 billion in 2022 to $3.8 billion in 2032. Businesses are beginning to see the need for multifunctional SOAR tools and are reviewing how they fit in with their security team.
Zeronsec’s SOAR software Ekasha is a sophisticated attack investigation and remediation platform poised to be the best value add to your security portfolio by skillfully executing faster responses to cyber threats.
Interested in Ekasha? https://zeronsec.rohitb.me/product/ekasha
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