As per GMI Research’s latest analysis, the Global Security Information and Event Management Market reveal that the market is slated to register a significant CAGR over the forecast period. This is attributed to the stringent security compliances and government regulations, the strong adoption of cloud-based services among SMEs, and increasing cyber threats.
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Security Information and Event Management Market’s leading Manufacturers:
- SolarWinds Worldwide, LLC
- IBM Corporation
- Micro Focus International Plc
- Rapid7 LLC
- RSA Security LLC
- McAfee, LLC
- Splunk Inc
- Zoho Corporation
- LogRhythm, Inc
- Alert Logic, Inc.
Security Information and Event Management Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The stringent security compliances and government regulations, the strong adoption of cloud-based services among SMEs, and increasing cyber threats are the key drivers contributing to the growth of the global security information and event management market size. In the digital landscape era, business value and information are migrating into the digital source and connected technology platforms. This is growing the risk of cyber-attacks, including phishing, denial-of-service, and malware. Currently, companies depend on data that they collect, such as account details and customer information. Such examples could break the trust of customers, and customers might terminate the services of the business. Thus, businesses are highly adopting for SIEM solution as they safeguard companies against ongoing cyberattacks and monitor difficulties related to log data. SIEM also offers end-to-end visibility over data gathered from a range of cybersecurity assets, such as IoT devices, computer applications, firewalls, and antivirus software. The SIEM solution allows IT professionals to manage complex and widespread digital environments by collecting this information and consolidating it in the virtualized dashboard. Such advanced specifications of SIEM technology is further fuelling the growth of the security information and event management market share in terms of revenue. However, the factor negatively impacting the market growth include the deployment of SIEM solution incurs higher cost.
Component Segment Drivers
Based on component, the market is segmented into solutions and services. The solution is expected to increase at a faster CAGR in the coming years due to various features of the technology, such as data collection and real-time log, prioritization and analytics, real-time notification and alerting, and offers improved security information model. Additionally, the technology aids IT professionals in efficiently managing security threats, which will further accelerate the demand for the market.
Security Information and Event Management Market Segmentation:
Segmentation by Component:
- Solutions
- Services
Segmentation by Application:
- Log Management and Reporting
- Threat Intelligence
- Security Analytics
- Others (include application monitoring, behavior profiling, and database management)
Segmentation by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Segmentation by Deployment Mode:
- On-premises
- Cloud
Segmentation by Vertical:
- Information
- Finance and Insurance
- Healthcare and Social Assistance
- Retail Trade
- Manufacturing
- Utilities
- Others (includes transportation and warehousing; arts, entertainment and recreation; and educational services)
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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