Key factors such as increasing cyber threats across diverse industry verticals coupled with stringent security compliances and government mandates have led to the adoption of the Security Information and Event Management (SIEM) solution in many organizations. Amidst the rising cyber-attacks such as malware and phishing, the companies are interested in investing in cybersecurity solutions to consistently safeguard organizational data by monitoring the issues in real-time. This has led to the rise in the overall market of SIEM solutions.
However, the initial costs of deploying a SIEM solution is comparatively high. Moreover, there is a lack of technically qualified cybersecurity personnel to provide the same expertise. This is likely to restrain the growth of the market.
- Increasing Cyber Threats Across Industries
- Strict Security Compliances and Government Regulations
- Rising adoption of cloud-based services
- Increased Spending on Cyber Security Solutions by the Enterprises
- Lack of Technically Skilled Cyber Security Experts
- High Cost of Deployment of SIEM Solution
- Integration of AI and Other Advanced Technologies for Alerting and Pattern-Based Monitoring
- Integration of SIEM solution with Managed Detection and Response Tools
- Management of Enormous Data
By Component, the Solutions segment is estimated to hold the highest market share. These solutions encrypt the sensitive data across different networks by examining log and event data generated by the different security devices and mobile or web applications. This helps in preventing data breaches and maintaining data integrity across the network infrastructure. These solutions can also be configured with real-time notifications and alerts based on pre-defined rules. The rising adoption of these solutions for data security is attributing to the growth of the market.
By Application, Log Management & Reporting segment is estimated to hold the highest market share. Log management is of key importance in SIEM solutions as these applications can help monitor critical employee activities, perform security checks and auditing purposes, etc. Besides, log management can enable virtual monitoring of logs and logs' aggregation in a centralized location for real-time security monitoring. As various market vendors provide different key features in the log management as per the market demand, the growth in the segment is likely to advance further.
By Deployment, the market is classified as cloud-based service and on-premise deployment. Amongst the two, the Cloud-based deployment is estimated to hold the highest market share. Though the on-premise deployment for SIEM has been saturated for a while, the vendors are looking forward to cloud-based deployment as a growing means of delivering SIEM services. This is likely to expand the growth of the SIEM-as-a-services (SaaS). As large organizations are holding high data logs daily, the availability of a cloud-based deployment can be beneficial in terms of faster accessibility to data log and retrieval amongst different users, shorter implementation time, and cost-effectiveness. This can help in high business efficiency and therefore result in greater demand.
By Organization Size, Large Enterprises are estimated to hold the highest market share. Large enterprises create huge volumes of data daily due to the transactions performed and data stored. This leads to high data logs created in the IT systems. Therefore, these enterprises are likely to invest in a SIEM solution that can help manage the data log activity and retrieve it at the given interval. Especially the companies involved in regulatory and compliance requirements need such solutions. These enterprises thus greatly demand SIEM solutions for ensuring compliance management and audit.
By Industry Vertical, the Healthcare segment is estimated to hold the highest market share. This vertical consists of various stakeholders such as medical equipment suppliers, pharmaceutical manufacturers, insurance firms, and private and public healthcare organizations, etc. They process large amounts of data related to doctors, patients, and their record history, which is highly prone to data loss amidst a malicious data activity. Therefore SIEM can play an important role in ensuring data confidentiality by protecting the data. Moreover, these solutions can collect the data and events across various devices, providing greater accessibility regards to data security.
By Geography, North America is projected to lead the market. The factors attributed to the growth of the region are rising compliance and regulatory mandates followed by the growth of advanced technological solutions. This has led to the rise of robust SIEM technology amongst the security and compliance-based companies. Moreover, the presence of key market players in the region is likely to address the growth of the market positively.
The Global Security Information and Event Management Market is segmented further based on Component, Application, Deployment, Organization Size, Industry Vertical, and Geography.
Some of the companies covered in this report are LogRhythm, Inc., Splunk Inc., AlienVault, Inc., IBM Corporation, Hewlett Packard Enterprise, LogPoint, SolarWinds, TIBCO Software, Trustwave Holdings, Inc., Exabeam, etc.
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments and growth in market share.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Security Information and Event Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size.
- The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.2 Market Dynamics
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Security Information and Event Management Market, By Component
7 Global Security Information and Event Management Market, By Application
7.2 Log Management and Reporting
7.3 Threat Intelligence
7.4 Security Analytics
8 Global Security Information and Event Management Market, By Deployment
9 Global Security Information and Event Management Market, By Organization Size
9.2 Small and Medium-sized Enterprises
9.3 Large enterprises
10 Global Security Information and Event Management Market, By Industry Vertical
10.3 Finance and Insurance
10.4 Healthcare and Social Assistance
10.5 Retail Trade
11 Global Security Information and Event Management Market, By Geography
11.2 North America
11.3 South America
11.4.6 Rest of Europe
11.5.6 South Korea
11.5.9 Rest of APAC
11.6 Rest of the World
11.6.2 Saudi Arabia
11.6.3 South Africa
11.6.4 United Arab Emirates
11.6.5 Latin America
12 Competitive Landscape
12.1 IGR Competitive Quadrant
12.2 Market Share Analysis
12.3 Competitive Scenario
12.3.1 Mergers & Acquisitions
12.3.2 Agreements, Collaborations, & Partnerships
12.3.3 New Product Launches & Enhancements
12.3.4 Investments & funding
13 Company Profiles
13.1 Dell EMC
13.2 Hewlett Packard Enterprise Company
13.3 IBM Corporation
13.4 LogRhythm, Inc
13.5 Log point
13.7 SolarWinds, Inc.
13.8 Splunk, Inc.
13.9 Broadcom Inc
13.10 Trend Micro, Inc.
13.11 Trustwave Holdings Inc
13.13 DFLABS SPA
13.14 Fireeye, Inc.
13.15 RSA Security LLC
13.16 TIBCO Software Inc
13.20 Sumo Logic
- Dell EMC
- Hewlett Packard Enterprise Company
- IBM Corporation
- LogRhythm, Inc
- Log point
- SolarWinds, Inc.
- Splunk, Inc.
- Broadcom Inc
- Trend Micro, Inc.
- Trustwave Holdings Inc
- DFLABS SPA
- Fireeye, Inc.
- RSA Security LLC
- TIBCO Software Inc
- Sumo Logic