Security Information and Event Management Market Latest, Upcoming Demand along with Development Trend And Feasibility Studies 2030

Report Ocean published the latest research report on the Security Information and Event Management market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Security Information and Event Management market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

The global security information and event management market size was US$ 4.56 billion in 2021. The global security information and event management market size is forecast to reach US$ 19.12 billion by 2030, growing at a compound annual growth rate (CAGR) of 16.5% during the forecast period from 2022 to 2030.

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SIEM products collect data from a variety of sources to identify patterns of events that indicate misuse of critical data, data failure, intrusion, or attack on systems. A unified solution combines error logs and alerts through event discovery and correlation, simplifying and speeding up network event monitoring. This market includes services such as collecting and storing data logs, collecting and disseminating threat intelligence, providing information on countermeasures, and offering early warning services.

Factors Influencing Market Growth

Several factors, such as a rise in concerns over IT security, the growth of bring your own device (BYOD) trends, the rising threat of cybercrime and supportive IT governance, and regulatory compliance, drive the growth of the security information and event management industry.
A number of factors are influencing the global market growth, such as the complexity of SIEM solutions, the difficulty of validating return on investment (ROI), and anomaly detection by next-generation SIEM.
SIEM (Security Information and Event Management) solutions offer a threat, log, and event management at an affordable cost with a unified solution to simplify the complexity of managing multiple security solutions, which is forecast to boost the growth of the global market.
A high cost and concern about privacy intrusion can slow down the growth of the security information and event management market.
Impact Analysis of COVID-19

The global COVID-19 pandemic has impacted businesses across the globe. Due to the lockdown imposed by governments in different countries, the adoption of SIEM has positively impacted. As part of COVID-19, organizations were using advanced technologies like BYOD, artificial intelligence (AI), machine learning (ML), and the internet of things (IoT) to perform contactless operations across industries. Consequently, there was an increase in demand for security information and event management systems, which has led to the growth of the global security information and event management market.

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Regional Insights

The Asia Pacific is forecast to experience the highest growth in the coming years. It is due to an evolution in IT security, cloud computing, and enterprise mobility among enterprises in the Asia Pacific region, which is driving demand for SIEMs. In Asia-Pacific, the demand for comprehensive SIEM deployments is likely to drive the growth of SIEM products for enterprises as it has become vital to protect their critical assets. The regulatory compliance requirements surrounding IT security have also led enterprises in the region to adopt SIEM technology, which is forecast to drive market growth in the upcoming years.

Leading Competitors

The leading prominent companies profiled in the global security information and event management market are:

Dell EMC
Hewlett Packard Enterprise Development LP
IBM Corporation
LogRhythm, Incorporated
McAfee LLC.
SolarWinds, Incorporated
Splunk, Incorporated
Symantec Corporation
Trend Micro, Incorporated
Trustwave Holdings Incorporated
Other Prominent Players
Scope of the Report

The global security information and event management market segmentation focuses on Component, Deployment Model, Enterprise Size, Industry Vertical, and Region.

Segmentation based on Component

Solution
Services
Segmentation based on Deployment Model

On-Premise
Cloud
Segmentation based on Enterprise Size

Large Enterprise
SMEs
Segmentation based on Industry Vertical

BFSI
Government
IT & Telecom
Manufacturing
Healthcare
Retail
Energy & Utilities
Others
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Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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