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Security operations market trends indicate significant growth and innovation in cybersecurity solutions.

Talks at the 2024 RSA Conference focused on trends in artificial intelligence, platformization, market convergence, enterprise performance, IPOs and upcoming cybersecurity trends for customers and investors. Customers are looking for fewer tools and vendors to manage, leading to consolidation in the industry, according to Nick Schneider (pictured), president and CEO of Arctic Wolf Networks Inc.

Nick Schneider of Arctic Wolf Networks talks to theCUBE about market trends in security operations.

“I think cybersecurity has evolved with a number of new threats, new attack surfaces and changes in the way malicious actors are using those potential attack avenues,” Schneider said. “As a result, there have been countless different products developed in the market that have been left up to the customer to manage and use. You see customers looking for a vendor that can help them solve multiple attack surfaces or multiple outcomes within their security operation.”

Schneider spoke with Dave Vellante of theCUBE Research at the RSA Conference during an exclusive broadcast on theCUBE, SiliconANGLE Media's livestreaming studio. They discussed addressing the underserved security operations market and meeting customer demand for unified solutions. (*Disclosure below.)

Changes in the security operations market

Arctic Wolf's platform allows customers to consolidate vendors and select the best products for specific cyber use cases, while a managed services platform runs across all attack surfaces and outcomes, Schneider explained.

“We have made a great effort as a company to ensure that we continue to innovate on individual attack surfaces or new threats in the market, but at the same time remain open and independent of the customer's choice so that they can make their own decisions on their security journey and we can support them on that journey over time,” he said.

The security operations market segment is underserved due to talent shortages and budget constraints, so a solution is needed. Arctic Wolf is dedicated to the underserved security operations market with a focus on product market fit and go-to-market philosophy, said Schneider.

“I think the change in the market was more noticeable,” he said. “Compared to last year, more and more customers were saying, 'Hey, I know we talked to you last year and said we're going to try to do this ourselves. How about maybe not?' So let's talk about how you can get involved in what we're doing and maybe help expand it, maybe become the cornerstone of what we're doing over time.”

Understanding the value proposition and meeting the specific needs of demanding clients is critical to winning business and maintaining high win rates. Good conversion rates vary depending on the company's priorities, with larger clients sometimes wanting special treatment, Schneider explained.

“We've developed what we call a Data Explorer product and are releasing a second version of it that meets that need,” he said. “This is where we've historically seen the most tension at the high end of the market. At the core of our markets, I think that's the normal competitive dynamic.”

Here is the full video interview, part of SiliconANGLE and theCUBE Research’s coverage of the RSA conference:

(*Disclosure: TheCUBE is a paid media partner of the RSA Conference. Neither RSA Conference LLC, the sponsor of theCUBE's event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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