Security Information and Event Management Market to Grow at 10.4% CAGR to Reach $6.24 Billion by 2027 Led by LogRhythm, SolarWinds, AlienVault, DFLABS SPA, Fireeye, HPE, RSA Security, Splunk, TIBCO Software
The global security information and event management market accounted to US$ 2.59 Bn in 2018 and is expected to grow at a CAGR of 10.4% during the forecast period 2019 – 2027, to account to US$ 6.24 Bn by 2027.
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Europe was the leading geographic market and it is anticipated to be the highest revenue contributor throughout the forecast period. The constantly rising demand for cyber security in the highly data sensitive industries of European region is set to nurture the security information and event management market in the European region.
Market Insights: A highly attractive adoption rate for the security information and event management market is anticipated
The global market for cyber security has witnessed some profound changes in the past few years owing to growing awareness towards data security, coupled with an increase in the number of threats related to technologies, tools, and IT solutions among other threats. Moreover, the rise in adoption of various IT enabled services & solutions globally along with the growing popularity of connected devices has further boosted the amount of data generated daily subsequently resulting in vast scope for potential vulnerabilities that require effective management as well as containment in case of cyber-attacks.
Thus, the surge in demand for effective and efficient security automation and response solutions that offers seamless real-time monitoring of various security-related alerts, events notification and reporting of unauthorized access is anticipated to be the significant market driving force for the global security information and event management market in the coming years. The global security information and event management market has witnessed substantial growth in the past few years owing to unprecedented investment focused towards minimizing enterprise exposure towards cyber-attacks, cyber-security, and automation of low-level threats alerts and notification.
Growing awareness towards security solutions to propel the growth of security information and event management in the forecast period:
The security solutions has gained significant traction in the past few years. Moreover, factors such as increase in investment, emerging of new market players, acquisition, and solutions development among others continue to attract large enterprise investment for security solutions and services and subsequently driving the growth of the security information and event management market. As a result, the growing adoption by leading enterprise for end-to-end security solutions across their entire organizational structure is also anticipated to drive the market growth in the coming years.
The increasing demand for unique and flexible security automation tools, platforms and solutions that perfectly embodies the organization operations, processes, structure across all strategic business units and organizational hierarchies are gaining huge market among leading solution providers. As a result, this has attributed in growing demand for consulting, training & development, maintenance, upgrades and continuous improvement of the existing security solutions across the different clients. In addition, the growing penetration of IoT solutions along with automation solutions also requires integration within the existing security solutions to minimize the exposure to vulnerabilities.
Segment by Solution Insights:
The global security information and event management market by solution is segmented into Patch Management, Log & Event Management, Firewall Security Management, and Others. The global security information and event management market by solution was led by log & event management segment. The challenges associated with manual entry of logs with human errors forming major part of it, and the advantages provided by log and event management software is anticipated to drive the revenues for this software component. Further, higher costs of this software is another major factor that would drive higher revenues for log and event management.
Segment by Service Insights:
The global security information and event management market by service has been segmented into integration, consulting, and service. The security information and event management market by service was led by integration service segment. Large number of enterprises around the globe are rapidly moving towards cloud storage. Apart from these two deployment types hybrid model is also adopted by multiple enterprises, hybrid deployment type which is combination of both on-premises and public cloud. Even in the coming years, industry experts expect this trend to continue the same way. This has led to high growth in the integration and deployment services market contributing to largest share in the security information and event management services market
Segment By Industry Vertical Insights:
The global security information and event management market is categorized on basis of different industry vertical as healthcare, energy & utilities, BFSI, government, retail, and others. The demand for security information and event management among the end user industries is consistently growing attributing to the fact that, the industries are rapidly increasing their cyber security in order to meet the regulatory demands. Vendors offer wide range of SIEM solution for organizations to detect suspicious activity on endpoints, and facilitate administrator with quick and appropriate response.
The nature of cyber security has changed rapidly with the rise in cloud and mobile computing. The company’s devices and data is scattered to the different endpoints as their employees work in office as well as from different locations, on mobile devices, on personal laptops and computers. BFSI sector leads the industry vertical segment globally in the security information and event management market.
New market initiatives was observed as the most adopted strategy in global security information and event management market. Few of the recent market initiatives are listed below:
2019: LogRhythm Inc. introduced LogRhythm NDR, an automated network security solution for detecting, qualifying, investigating and responding to advanced network-borne threats. While LogRhythm NDR benefits all security teams and organizations of any size, it is especially well-suited for those with operational technology (OT) security needs and short-staffed teams.
2018: AlienVault announced the expansion of USM Anywhere, with the addition of Endpoint Detection and Response (EDR) capabilities to its feature.
2018: AlienVault introduced OTX Endpoint Threat Hunter, which is a free threat-scanning service available in the Open Threat Exchange for registered OTX user.
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GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT – MARKET SEGMENTATION
• Global Security Information and Event Management Market – By Solution
o Patch Management
o Log & Event Management
o Firewall Security Management
• Global Security Information And Event Management Market – By Service
• Global Security Information and Event Management Market – By End User
o Energy & Utility
Global Security Information and Event Management Market – By Geography
• North America
o Rest of Europe
• Asia Pacific (APAC)
o South Korea
o Rest of Asia Pacific
• Middle East and Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Rest of South America (SAM)
Security information and event management Market - Company Profiles
• DFLABS SPA
• Fireeye, Inc.
• Hewlett Packard Enterprise Development LP (HPE)
• IBM Corporation
• LogRhythm, Inc.
• RSA Security LLC
• SolarWinds Inc.
• Splunk Inc.
• TIBCO Software Inc.
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Few Points from the Table of Content:
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET LANDSCAPE
5. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET – KEY INDUSTRY DYNAMICS
6. SECURITY INFORMATION AND EVENT MANAGEMENT – GLOBAL MARKET ANALYSIS
7. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT ANALYSIS –
8. SECURITY INFORMATION AND EVENT MANAGEMENT REVENUE AND FORECASTS TO 2027 – SERVICE
9. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET REVENUE AND FORECASTS TO 2027 – INDUSTRY VERTICAL
10. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET –
11. INDUSTRY LANDSCAPE
12. KEY COMPANY PROFILES
12.1 AT&T INC. (ALIENVAULT)
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Product and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 DFLABS SPA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 SWOT Analysis
12.2.5 Key Developments
12.3 FIREEYE, INC.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP (HPE)
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Security Information and Event Management Market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Security Information and Event Management Market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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