CrowdStrike Named a Major Player in 2024 IDC MarketScape: Worldwide SIEM for Enterprise

Rhea-AI Summary

CrowdStrike (NASDAQ: CRWD) has been named a Major Player in the IDC MarketScape: Worldwide Security Information and Event Management (SIEM) for Enterprise 2024 Vendor Assessment report. The company's Falcon® Next-Gen SIEM is positioned as an AI-native SOC solution, integrating Falcon and third-party data, threat intelligence, and AI-driven automation to stop breaches quickly.

At Fal.Con 2024, CrowdStrike unveiled new innovations in Falcon Next-Gen SIEM, including:

• AI-generated Parsers for comprehensive data ingestion
• Detection Posture Management for identifying security gaps
• Incident Workbench for real-time investigation and collaboration
• CrowdStrike® Charlotte AI™ for natural language interactions
• 300+ Prebuilt Response Actions for automating workflows

These features aim to streamline operations, accelerate detection and response, and improve overall security outcomes for organizations.

Positive

• Named a Major Player in IDC MarketScape's 2024 SIEM for Enterprise report
• Introduced AI-native SOC solution with Falcon Next-Gen SIEM
• Unveiled new innovations at Fal.Con 2024 to enhance SIEM capabilities
• Developed AI-generated Parsers for comprehensive data ingestion
• Implemented Detection Posture Management for identifying security gaps
• Created Incident Workbench for real-time investigation and collaboration
• Integrated CrowdStrike Charlotte AI for natural language interactions
• Added 300+ Prebuilt Response Actions for workflow automation

Negative

• None.

Insights

Tech Expert

CrowdStrike's recognition as a Major Player in the IDC MarketScape for SIEM underscores its growing influence in the cybersecurity space. The company's Falcon Next-Gen SIEM platform addresses critical pain points in traditional SIEM systems, offering faster data ingestion, AI-driven automation and improved threat detection capabilities.

Key innovations announced at Fal.Con 2024 include:

• AI-generated Parsers for comprehensive data ingestion
• Detection Posture Management for identifying security gaps
• Incident Workbench for real-time collaboration
• Integration of CrowdStrike Charlotte AI for natural language interactions
• 300+ Prebuilt Response Actions for workflow automation

These features aim to streamline SOC operations and accelerate threat response, potentially giving CrowdStrike a competitive edge in the rapidly evolving SIEM market. For investors, this positions CrowdStrike well to capitalize on the growing demand for advanced cybersecurity solutions in enterprise environments.

Market Research Analyst

CrowdStrike's positioning as a Major Player in the IDC MarketScape report is significant for its market standing. The SIEM market is projected to grow from $4.21 billion in 2022 to $6.62 billion by 2027, at a CAGR of 9.4%. CrowdStrike's innovative approach with Falcon Next-Gen SIEM could help it capture a larger share of this expanding market.

The company's focus on AI-driven solutions and cloud-native architecture aligns with current industry trends, potentially attracting enterprises looking to modernize their security operations. The emphasis on reducing complexity and lowering operating costs could be particularly appealing in the current economic climate where IT budgets are under scrutiny.

Investors should note that while this recognition doesn't guarantee immediate financial impact, it strengthens CrowdStrike's competitive position and could lead to increased adoption of its SIEM solution, potentially driving revenue growth in the medium to long term.

AUSTIN, Texas--(BUSINESS WIRE)-- CrowdStrike (NASDAQ: CRWD) today announced that it has been named a Major Player in the IDC MarketScape: Worldwide Security Information and Event Management (SIEM) for Enterprise 2024 Vendor Assessment report¹.

As the velocity and sophistication of cyberattacks continues to increase, today’s security operations centers (SOC) need to operate at the speed of the adversary to stop breaches. Legacy SIEMs, with slow data ingestion, complex workflows, delayed search capabilities and limited extended data retention can no longer meet the needs of the modern SOC. Organizations are increasingly looking to replace outdated systems with new, disruptive technologies that streamline security and IT data management, while accelerating detection and response. CrowdStrike Falcon® Next-Gen SIEM delivers on the promise of an AI-native SOC, integrating Falcon and third-party data, threat intelligence and AI-driven automation to stop breaches with unprecedented speed.

“Organizations have been using SIEM technology as the backbone of security operations for decades,” said Raj Rajamani, head of products, CrowdStrike. “It’s time for a new cloud-native approach, one that delivers faster response times, less complexity and lower operating costs. Falcon Next-Gen SIEM is transforming the SOC, providing instant time-to-value, increased functionality and better security outcomes.”

New Innovations in Falcon Next-Gen SIEM:

At Fal.Con 2024, CrowdStrike unveiled powerful new innovations in Falcon Next-Gen SIEM that empower SOCs to streamline operations, accelerate detection and response, and stop breaches, including:

• AI-generated Parsers that effortlessly ingest and process data from any source, allowing SOCs to gain comprehensive visibility across their security environment.
• Detection Posture Management, which provides a unified, cross-module view of MITRE ATT&CK techniques and correlates them with active detection rules, helping analysts quickly identify security gaps and receive actionable recommendations to strengthen their defenses.
• Incident Workbench, which provides a visual, interactive interface that enables security teams to investigate and collaborate on incidents in real time, regardless of their location, improving response times and decision-making during critical incidents.
• CrowdStrike® Charlotte AI^™, CrowdStrike’s GenAI assistant, which synthesizes information from across the Falcon platform and enables natural language interactions for rapid incident summarization, context-rich analysis, AI-generated response scripts and faster investigation of security threats.
• 300+ Prebuilt Response Actions that automate routine workflows and response processes, enabling security teams to break down silos between technologies and departments while ensuring faster, more coordinated responses to evolving threats.

To learn more about the 2024 IDC MarketScape: Worldwide Security Information and Event Management (SIEM) for Enterprise Vendor Assessment report, read our blog.

About IDC MarketScape:

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

About CrowdStrike

CrowdStrike (NASDAQ: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data.

Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities.

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value.

CrowdStrike: We stop breaches.

Learn more: https://www.crowdstrike.com/

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Start a free trial today: https://www.crowdstrike.com/free-trial-guide/

©2024 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services.

¹c #US51541324, September 2024

View source version on businesswire.com: https://www.businesswire.com/news/home/20241003213192/en/

Jake Schuster

CrowdStrike Corporate Communications

press@crowdstrike.com

Source: CrowdStrike

FAQ

What recognition did CrowdStrike (CRWD) receive in the 2024 IDC MarketScape report?

CrowdStrike (CRWD) was named a Major Player in the IDC MarketScape: Worldwide Security Information and Event Management (SIEM) for Enterprise 2024 Vendor Assessment report.

What new features did CrowdStrike (CRWD) announce for Falcon Next-Gen SIEM at Fal.Con 2024?

CrowdStrike (CRWD) announced AI-generated Parsers, Detection Posture Management, Incident Workbench, CrowdStrike Charlotte AI integration, and 300+ Prebuilt Response Actions for Falcon Next-Gen SIEM at Fal.Con 2024.

How does CrowdStrike (CRWD) Falcon Next-Gen SIEM aim to improve security operations?

CrowdStrike (CRWD) Falcon Next-Gen SIEM aims to improve security operations by integrating Falcon and third-party data, threat intelligence, and AI-driven automation to stop breaches quickly, streamline operations, and accelerate detection and response.

What is the purpose of CrowdStrike's (CRWD) AI-generated Parsers in Falcon Next-Gen SIEM?

CrowdStrike's (CRWD) AI-generated Parsers in Falcon Next-Gen SIEM are designed to effortlessly ingest and process data from any source, allowing SOCs to gain comprehensive visibility across their security environment.