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Asia Pacific Security Information Event Management (SIEM) Market CY 2010
Frost & Sullivan, March 2011, Pages: 54
This study covers the state of the Asia Pacific Security Information and Event Management, examining drivers and restraints for growth, distribution, technology, demand and geographical trends. Following from these, market growth for regional and market segments are forecasted. In addition, an in-depth analysis of the competitive situation including vendors' market shares is performed, along with detailed profiles of the key vendors in the industry in the APAC region. The base year is 2010 with forecasts running through 2014.
This Frost & Sullivan research service titled Asia Pacific Security Information Event Management (SIEM) Market CY 2010 provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment in addition to the challenges and issues faced by market participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: security information management (SIM), and security event management (SEM).
Market Overview
Asia Pacific Security Information and Event Management Market Thrives as Enterprises’ Security Issues Proliferate
The APAC SIEM market witnessed a healthy growth momentum in 2010. Market revenues in this segment grew 15.1 percent from 2009, reaching a total market size of $93.4 million in 2010. The APAC SIEM market is expected to hit a strong CAGR of 27.0 percent and touch $242.7 million in 2014. Enterprises have recognized the importance of SIEM in ramping up their security posture. With technology convergence largely characterizing the evolution in the IT security arena, it is no surprise to see growing enterprise demand for SIEM solutions. As the business landscape enters a new era of enterprise mobility and cloud computing, the need for a comprehensive SIEM setup will be vital for protecting critical assets in an enterprise network. SIEM is poised for vigorous uptake, and the market is expected to show a robust growth rate in three to four years’ time. “Regulations surrounding security have led enterprises in the region to adopt SIEM technology,” notes the analyst of this research service. “SIEM will emerge as a mainstream solution as enterprises strive to gain visibility across the network, endpoints, internal servers, and applications.” The capabilities of SIEM solutions make them ideal tools for convergence, ensuring security synergies are properly achieved.
Although SIEM is gaining steady traction, proper understanding of the technology is lacking. The prevailing market perceptions of the complexities involved in its implementation actually impeded the adoption rate of SIEM solutions in some of the APAC market.
Currently, there is an abysmally low level of awareness associated with the priority level given to the SIEM solutions in the APAC region where the
regulatory regime is not as strict as that of North America or Europe. The lack of a clear market position for SIEM is also restraining market momentum. The unilateral approach in positioning the technology segment by vendors, as well as the interchangeable usage of terms such as SIEM, SIM, and SEM, indicates a highly fragmented market, with both customers and vendors alike having different versions of SIEM.
It is imperative for SIEM vendors to reach out to enterprise end users to enhance their technological awareness and correct any underlying misconceptions, which may exist toward the technology. Moreover, by actively engaging the enterprise population, SIEM vendors are also helping to establish their presence in the technology segment, thus enabling them to fortify their position as SIEM solution providers. “Selling SIEM solutions goes beyond merely selling appliances, as implementing SIEM technology in an enterprise setup involves the need for services, as much as it is also a product setup,” says the analyst. “In this sense, it is critical for the vendors and their channels to be able to articulate the value proposition of SIEM and its implementation requirements properly to convince enterprises of the value of SIEM deployment.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Security information management (SIM)
- Security event management (SEM)
By End-use Vertical:
- Banking & finance
- Manufacturing
- Government
- Education
- Service providers
- Others (e.g. utilities, energy, retail etc.)
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