Managed Security Information And Event Management (SIEM) And Log Management Global Market Report 2024 - By Report, Size, Share, Trends, Forecast To 2033

The managed security information and event management (SIEM) and log management market size has grown rapidly in recent years. It will grow from $2.98 billion in 2023 to $3.33 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to need for continuous monitoring and auditing of security events, need for centralized security management across multiple locations, increasing demand for real-time threat detection and response, growing awareness of the importance of security, growing demand for managed security services.

The managed security information and event management (SIEM) and log management market size is expected to see rapid growth in the next few years. It will grow to $5.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to growing volume of data, growing cloud adoption, rise of remote work, increasing sophistication of cyberattacks, growing adoption of cloud-based services and applications. Major trends in the forecast period include cyber insurance partnerships, partnerships and alliances, technological innovation, integration with it service management, customer education initiatives.

Market Overview -
Managed security information and event management (SIEM) and log management are cybersecurity solutions that combine security information and event management (SIEM) capabilities with log management functionalities. These integrated solutions help organizations proactively manage security risks and respond effectively to cyber threats.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13876&type=smp

Impact Of Remote Work On The Managed SIEM And Log Management Market
The emergence of remote work is expected to propel the growth of the managed security information and event management (SIEM) and log management market going forward. Remote work refers to the practice of performing job tasks and responsibilities from a location outside of a traditional office, often utilizing technology and online communication tools for collaboration. Managed SIEM and log management solutions provide remote workforces with the necessary cybersecurity visibility, threat detection capabilities, and compliance management tools to ensure secure and compliant remote work operations. For instance, according to the Bureau of Labor Statistics, a US-based government agency, 33% of establishments increased telework for some or all employees during the pandemic in 2021. Further, according to the Bureau of the Census, a US-based Federal Statistical System, the proportion of individuals primarily working from home increased threefold to 17.9% in 2021 from 5.7% two years prior. Therefore, the emergence of remote work is driving the growth of the managed security information and event management (SIEM) and log management market.

Competitive Landscape -
Major companies operating in the managed security information and event management (siem) and log management market report are Amazon.com Inc., Microsoft Corporation, Verizon Communications Inc., NTT Corporation, Dell Technologies, International Business Machines Corporation, Cisco Systems Inc., AT&T Cybersecurity, Capgemini SE, Wipro Limited, Palo Alto Networks, Fortinet Inc., Symantec Corporation , Optiv Security Inc., UNISYS Corporation, McAfee LLC, Trend Micro Inc., TIBCO Software Inc., FireEye Inc., RSA Security LLC, Trustwave Holdings Inc., Sumo Logic Inc., Securonix, Redscan Cyber Security Limited, Clearnetwork Inc.

Innovations In Managed SIEM And Log Management Markets
Major companies operating in the managed security information and event management (SIEM) and log management markets are developing innovative products such as Cisco XDR for extended detection and response. Cisco XDR (Extended Detection and Response) is a cybersecurity solution that integrates and analyzes data from various sources across an organization's network, endpoints, cloud environments, and applications to detect and respond to cyber threats more effectively. For instance, in April 2023, Cisco Systems Inc., a US-based digital communications technology corporation launched Cisco XDR. XDR solutions go beyond traditional SIEM (Security Information and Event Management) by providing advanced analytics, machine learning, and automation capabilities to correlate and prioritize security alerts, identify complex threats, and orchestrate response actions across the entire security infrastructure. Cisco's XDR offering includes Cisco SecureX, which integrates XDR capabilities with other security products to provide a unified security platform for threat detection, investigation, and response.

Browse Full Report
https://www.thebusinessresearchcompany.com/report/managed-security-information-and-event-management-siem-and-log-management-global-market-report

Key Segments -
The managed security information and event management (siem) and log management market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Application: Log Management And Reporting, Threat Intelligence, Security Analytics, Other Applications
4) By Organization Size: Large Enterprises, Small And Medium Sized Enterprises
5) By Vertical: Information, Finance and Insurance, Healthcare and Social Assistance, Utilities

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model"

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.