Security Information and Event Management Market is valued at USD 4.21 Billion in 2021 and is expected to reach USD 6.62 Billion by 2028 with a CAGR of 8.1% over the forecast period.
Security Information and Event Management (SIEM) offers organizations with next-generation detection, analytics, and response. SIEM software combines security event management (SEM) and security information management (SIM) to deliver real-time analysis of security alerts produced by applications and network hardware. SIEM gathers security data from servers, network devices, domain controllers, and more. SIEM stores regulate, collects, and utilizes analytics to that data to locate trends, identify threats, and enable organizations to investigate any alerts.
The Covid-19 pandemic has impacted each segment of society, involving individuals and businesses. Covid-19 also affected the global SIEM market economy in three major ways: by immediately affecting production and demand, by generating supply chain and market disruption, and by its financial influence on firms and financial markets.
The global security information and event management market is segmented based on components, applications, organization size, deployment modes, verticals, and geography. Based on components, the global security information and event management market is segmented into solution and service. Based on applications, the global market is segmented into log management and reporting, threat intelligence, security analytics, and others. On the basis on organization size, the market is sub-segmented into the small and medium-sized enterprises and large enterprises. Based on deployment modes, global security information and event management market is segmented into on-premises and cloud. Based on verticals, the security information and event management market is segmented into information, finance and insurance, healthcare and social assistance, retail trade, manufacturing, utilities, and others.
The regions covered in this global Security Information and Event Management market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global Security Information and Event Management is subdivided into the U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
By Organization Size
By Deployment Modes:
Some of the key players for global Security Information and Event Management are:
On September 21st, 2021, Siemens Energy launched of a platform-as-a-service (PaaS) offering for enterprises in the industrial space: a security information and event management (SIEM) battered for use inside Security Operation Centers (SOC) that can deliver context, visibility, insights, and actions on industrial data, procedures, assets, and threats.
On May 25th, 2021; Cysiv, an innovator in the field of security operations center-as-a-service (SOCaaS) launched its latest unified global architecture for Cysiv Command, the cloud-native, next generation security information and event management (SIEM) platform.
On May 25th, 2021, Sumo Logic, the pioneer in constant intelligence, announced it completion of acquisition of DF Labs S.p.A. The combination of Sumo Logic’s Cloud SIEM constructed on the Continuous Intelligence Platform™ and DFLabs will provide customers of varying sizes.
The huge growth in demand for cloud-based SIEM services is one of the major factors driving the growth of the security information and event management market globally. Cloud-based SIEM, takes SIEM to the next level, offering IT teams superior flexibility, convenience, and power when handling threats through various environments most specifically in the cloud. The purpose of cloud services for security processes has become almost ubiquitous. For example, almost 96% of the organization are using cloud-based services. On average 64.6% of IT security operations and services are introduced in the cloud. Besides this, more than 84% of organizations would benefit from cloud-native SIEM. However, cloud-based SIEM delivers a valuable and effective approach to continually examine all devices, applications, servers, users, and infrastructure components on the network. Owing to the outstanding benefits of cloud-based SIEM services, a number of organizations, businesses, and firms are inclining towards this market. As a result, all these aspects are contributing to the massive growth of the security information and event management market.
In addition, growing recent developments and advancements in security information and event management are also supplementing the market growth. By keeping the benefits of SIEM in mind, a number of market players are staying competitive and performing different product launches, acquisitions, and agreements. For example; in March 2020, Securonix partnered with Verizon after which Securonix’s cloud-based, next-gen SIEM solution would power Verizon’s more Managed Detection and Response (MDR) service. Also, in July 2018, ManageEngine lengthened the log management abilities of the SIEM solution to the cloud. Apart from these, in March 2019, RSA expanded its SIEM abilities to decrease digital risks with developed analytics. These advancements by market players are generating more opportunities for the SIEM market. As a result, a number of other players are also inclining towards SIEM and leveraging in the market.
However, high cost of scalability and deployment of security information and event management software, are anticipated to impede the market growth within the forecast period. Despite this, auspicious growth in IoT services and many modern technologies may generate the plethora of the opportunities for the further growth of the global security information and event management (SIEM) market.
North America is expected to dominate the global security information and event management market and anticipated to be the most lucrative during the forecast period. Various companies throughout verticals in North America are looking to improve their breach detection and examining capabilities by implementing SIEM solutions. Companies that are concentrating on security and compliance reporting need are constantly implementing SIEM technology. Larger businesses that follow a conservative method in approving technology are also deploying SIEM solutions. As a result, presence of many key players is playing an important role in the growth of security information and event management market.
The Asia Pacific is expected to witness a fastest growth in the global security information and event management market owing to rising cyber security attacks and cybercrime in the region. According to the National Crime Records Bureau data, India reported 50,035 cyber-crime incidents in 2020. Also, there are nearly 1.5 million cyber-attacks each year, which means that there are more than4,000 attacks a day, 170 attacks per hour, or nearly three attacks each minute. Increasing cyber-attacks across the Asia Pacific are harming many organizations, small and big enterprises. However, the growing dangers of various cyber-crime and cyber-security attacks create major concerns for professionals. Thus, many risk leaders are progressively implementing the security information and event management.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 4.21 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 6.22 Billion|
|Tables, Charts & Figures:||175|
|Security Information And Event Management Companies||IBM, Hewlett Packard, McAfee, LogRhythm, Splunk, AlienVault, BlackStratus, EventTracker, Dell Technologies, Fortinet, Micro Focus, SolarWinds, Symantec, Tenable Network Security, TIBCO Software & Others|
|Segments Covered||By Components, By Applications, By Organization Size, By Deployment Modes, By Verticals|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|