Security Information and Event Management Market Size 2020 Worldwide Trends & Demand, COVID-19 Impact & Recovery Analysis with Competitive Landscape
The global SIEM market was valued at $1,866 million in 2016, and is projected to reach $3,720 million by 2023, growing at a CAGR of 10.1% from 2017 to 2023.
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The SIEM market for the services segment is anticipated to grow at the highest growth rate during the forecast period. The security information and event management (SIEM) market is in its mature stage, and is expected to witness average growth rate of 10.1% during the forecast period. Organizations seek tools that can satisfy regulation compliances with high efficiency. North America was the largest shareholder, in terms of revenue; while Asia-Pacific SIEM market is expected to witness highest growth during the forecast period.
The government segment accounted for the highest share of revenue in 2016, while retail SIEM market is anticipated to grow at the highest rate of 14.2% during the forecast period.
Rise in concerns over IT security and increase in cybercrime have urged organizations to invest in more efficient security systems, as the threat landscape is becoming more complex with the occurrence of mobile devices and rise in adoption of cloud services. In addition, increase in adoption of Bring Your Own Device (BYOD) trend drives the growth in the global SIEM market.
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North America was the largest market in global SIEM industry in 2016, as it offers adequate infrastructural development for the adoption of SIEM technology. The primary driver for this adoption is the regulatory compliance such as the Payment Card Industry Data Security Standard (PCI DSS), Freedom of Information and Protection of Privacy Act, the Federal Information Security Management Act (FISMA), and the Sarbanes-Oxley Act (SOX) in the region. Asia-Pacific SIEM market is expected to grow at the highest rate during the forecast period, owing to evolution in IT security arena, increase in cloud adoption, stringent regulatory compliances, and rise in demand for enterprise mobility.
Large enterprises are the primary consumers of SIEM products and the market was estimated to be around $1,174 million in 2016. However, small enterprise SIEM market is expected to grow at the highest growth rate during the forecast period, owing to its wide acceptance and increased product offerings from the key market players.
Key Market Players Profiled In The Report:
• Dell EMC
• Hewlett Packard Enterprise Company
• IBM Corporation
• LogRhythm, Inc.
• McAfee LLC.
• SolarWinds, Inc.
• Splunk, Inc.
• Symantec Corporation
• Trend Micro, Inc.
• Trustwave Holdings Inc.
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Key questions answered in Security Information and Event Management Market research study:
♦ What is the market growth rate of Security Information and Event Management Market from 2020-2027?
♦ What will be the global market size of the market from 2020 to 2027?
♦ Who are the leading global players in the Security Information and Event Management Market?
♦ What are the current trends and predicted trends?
♦ What are the challenges faced in the Security Information and Event Management Market?
♦ Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
♦ Which will be the anticipated growth rates for your own Security Information and Event Management Market economy altogether and also for every segment inside?
♦ Which will be the Security Information and Event Management Market application and types and forecast accompanied closely by producers?
♦ What are the conclusions of the Security Information and Event Management Market report?
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