SOC analysts
5
Feb

The uphill demand for SOC Analysts and a large workforce gap

SOC analysts

It has become crucial for businesses (big or small) to protect their sensitive information about their clients, employees, investments, stakeholders, etc. The scope of security breaches has risen substantially which has challenged the protection of sensitive information. A study by Ponemon shows that the U.S. businesses observed that among one in four organizations have had data breaches in a year’s time. The costs of the breaches are high due to their effectiveness. This is mainly due to the lack of security measures and negligence on the part of the management, as the study also proved that enterprises take 206 days to detect a breach. Security operations center with a team of SOC analysts, monitors, and defends at different security levels are aimed to overcome the drawbacks.

In the wake of such findings, organizations are exploring new methods to defend their infrastructure and data against potential cyberattacks. Where few rely on advanced techniques to detect and protect their networks, others outsource the security task to external service providers. The organizations have constantly experienced a communication gap while working with outsourced vendors. To attain a balance, SOC analysts play a major role.

What is a Security Operation Center?

The uphill demand for SOC Analysts

The market analysis of the SOC market reveals that North America upholds the largest share of the Security Operations Center in 2019. They demand for SOC analysts is high due to their strong economic conditions and concentrated effort on advanced systems protection for the organizations. SOC focuses to achieve cybersecurity by detecting threats from external sources.

“The Security Operations Center market revenue is estimated to be $31,796.9 million in 2019 and is expected to reach $61,199.7 million by 2025, growing at a CAGR of 11.5% during the forecast period 2019–2025.” – Security Operations Center Market – Global Forecast up to 2025.

The Asia Pacific region is expected to witness increased demand for SOC analysts because of the presence of developing countries like India, China, and the Philippines. The business concerns in these countries are experiencing higher customer turnover and therefore the focus is on data protection and threat detection. The Asia Pacific region holds the potential market for the vendors and is expected to record the highest CGR during 2019 – 2025.

While there are constant updates of new attacks, the organizations concerned about data protection should be prepared to defend against such sophisticated attacks. To serve the purpose, the Security Operations Center (SOC) as a team dedicated to the formal information security management system is needed.

Demand and supply

The unfilled cybersecurity jobs of 3.5 million by 2021, challenges the supply of SOC analyst for the required positions. The workforce gap of SOC analysts is mainly due to the lack of skilled professionals. Due to the rising cyberattack costs and their repercussions, organizations want to hire only qualified and skilled professionals who should have ready-job skills. A cybersecurity degree can produce a qualified workforce, but it takes nearly two years for an individual to obtain a degree certification, resulting in a further gap of workforce requirement.

EC-Council’s Certified SOC Analyst (C|SA) is a comprehensive program for those enthusiastic SOC Analysts who want to gain job-ready skills and make the most of the available opportunities. The program focuses on creating new career opportunities through extensive, meticulous knowledge with enhanced level capabilities for dynamically contributing to a SOC team.

Faqs

Why do you need a Security operation center?
Security Operations Center (SOC) is a centralized unit dealing with high-quality IT security operations. It works as the first line of defense.

Read more: What is a Security Operation Center? And Why do You Need It?

What factors contribute to sensitive data exposure attacks?

A SOC Analyst shall monitor threats and malicious content from outside trying to intrude the network. Apart from this, there are other security roles that a SOC Analyst perform.

Read more: SOC Analyst – What they are, what they do, and why they matter?

What are the skills required to be a SOC Analyst?

SOC Analyst should have both, technical, as well as, analytical proficiency. Here are the 5 main skills required to be a SOC Analyst.

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