Security Information and Event Management Market Research, By Solution (Log and Event Management, Patch Management, Firewall Security Management), Organization Size (Large Enterprise, SMEs), Service (Professional, Managed), Vertical – Global Forecast till 2030

Security Information and Event Management Market Overview:

The security information and event management solutions are a combination of security information management (SIM) and security event management (SEM) systems to ensure greater security to the end-user corporations. There are several threats in the cyber-world that complicate and damage the processes of business operations around the world. Especially, when the corporation deals with tons of sensitive data from the market, it becomes essential to protect the data with intricate security. Modern technologies have introduced features like user and entity behavior analytics (UEBA) in the system as well.      

Latest Industry Update for Security Information and Event Management Market

May 2023- SIEM Streaming Service & Enterprise Class Scalability has been announced by Next. A pioneer in data security and insider risk has unveiled a new interface between Splunk and its Reveal platform. The new technological collaboration increases protection and visibility while leveraging customers' investments in current security solutions to enhance incident response efficiency.

Through the automatic integration of detections into their current SIEM tools and processes, organizations may shorten reaction times by using Reveal's Security Information & Event Management (SIEM) streaming service. Now the Next DLP Reveal Technology Add-on is accessible in Splunkbase as a part of this capability. With the use of this add-on, insider risk and DLP activity that Reveal has detected can be easily imported into Splunk and compared to other forms of cybersecurity data sets particularly for better incident reaction and investigation.

Data is continuously being used and moved around, and outdated DLP solutions frequently fail to detect dangerous user behavior. This may result in unauthorized access to or exfiltration of private information from a company. Enterprises frequently have to adopt security solutions selectively due to budget constraints and complexity, leaving gaps. Joint clients may now manage problems in Splunk if they want, and they will have visibility into how, when and where their sensitive data is getting accessed and placed at risk, whether intentionally or not, thanks to the new Splunk interface.

For the cloud, The Reveal Platform has been specifically designed. For security-conscious multinational organizations of all sizes, Reveal has been shown to manage the most difficult data protection concerns. Customers of Reveal may easily scale deployments from countless agents without adding complexity by using contemporary cloud-based microservice designs and scalable components.

The firm is giving security teams a much-needed platform which enables them in consolidating and streamlining their security procedures with the help of their new Streaming Service and Splunk integration. Every customer benefits from Next's technology ecosystem strategy as they can now easily and rapidly identify threats to stop a breach and increase visibility and productivity.

Security Information and Event Management Market COVID-19 Analysis:The way the COVID-19 pandemic has hit the market is a once-in-a-century incident. The fatal disaster caused by the disease is certainly not limited to a public health disaster, but a fatality on the world economy as well. Owning to the pandemic, major and almost all countries in the world went into complete lockdown for retaining the transmission of the disease. This emergency measure, although worked on the health front, has deeply affected the global business scenario in those times. The SI and EV market faced certain challenges due to the disease also. 

The effect of COVID-19 in the SIEM solutions market covers the manufacturing, distribution, maintaining, servicing, and investment fronts of the business. Due to lockdowns, there has been a scarcity of in-field workers and technicians. Offices kept shut down, so developers were out of network. Also, a prominent crisis of investments arrived due to the economic instability in the market. Solid security information and event management market analysis are required to categorically identify all the aspects of the market. Although, recent trends of increasing digital population and remote business operations via cloud-based software indicate a promising future for the SIEM system market.         

Market Dynamics:

Drivers:

The market has a constant compulsion on arranging premium security systems for the corporations who run internet-based businesses. Cybercrimes, security breaches, system corrupting bugs, etc are constant threats to the market. Since the SIEM solution combines security information management (SIM) and security event management (SEM) systems, the end-users can track the security information as well as get an analysis of the events of security breathes as well. This function is beneficial for the thriving markets to enhance the security systems in the future. This factor is a steady pusher for the security information and event management market growth. 

Several businesses operate via networked databases, various devices, and workstations. The efficiency of the centralized system is high. The rapid adaptation of mobile devices in the business operation system is boosting the security information and event management market. The practice of bringing your device (BYOD) phenomenon is forcing the corporations to tighten and organize the security control of the overall system. The emergence of newer bugs and threats in the system is constantly driving the SIEM systems market.   

Opportunities:

Advancements in the internet of things (IoT) and 5G technology will bring more and more connected devices in the spectrum. This expanded market will require more sophisticated security solutions for their systems. AI automation has introduced features like user and entity behavior analytics (UEBA) which provides real-time security checks and monitoring functionalities. These advanced features will present glorious opportunities in front of the SI and EV market. In the coming years, the need for security information and event management systems is going to reach a significant height.   

Challenges:

Cumulative Growth Analysis:

Value Chain Analysis:

Various factors divide the global market into various security information and event management market segments. The market is split based on the type of services, solutions, industry verticals, organization size, etc.

Segments based on the type of solutions:

• Log and event management


• Firewall security management 


• Patch management  

Segments based on the type of services:

• Professional services – Integration and deployment service, Consulting service, Maintenance, and supportive service. 


• Managed services 

Segments based on organization size:

• Large enterprise


• Small and medium enterprise (SME)

Segments based on industry verticals:

• Telecommunication and IT


• Healthcare


• BFSI


• Retail and consumer goods market 


• Utilities


• Others 

Segments based on regions:

• North America 


• Europe 


• Asia Pacific (APAC)


• Rest of the world 

The global Security Information and Event Management market is distributed into technologically advanced countries like the US, Canada, Mexico, UK, Germany, France, etc. From all the regions of the world, the North American region holds the largest market share in the world. The US dominates by obtaining the 75-80% of the global market leaders in the SIEM industry. The second-largest market in the world is the Asia Pacific. Countries like China, India, Japan are improving fast in security technologies.    

Security Information and Event Management Market Competitive Landscape:

The biggest key players in the global Security Information and Event Management market are – 

• Hewlett Packard Enterprise (US)


• IBM Corporation (US)


• McAfee LLC (US)


• TrendMIcro Inc (Japan) 


• Assuria Ltd (UK)


• Dell EMC (US)


• Logrhythm Inc (US)


• LogPoint A/S (Denmark)


• AlienVault Inc (US)  

Recent Developments:

• 
  McAfee LLC has partnered with another giant corporation Oracle in 2019. This partnership is supposed to enhance the existing SIEM capabilities of the company. The Oracle cloud services are supportive of the enhancement of the existing system. 
  


• The ManageEngine corporation has launched its user and entity behavior analytics (UEBA) feature in 2019. This sophisticated SIEM solution of the company is called Log360.   

Report Overview:This report discusses the security information and event management market segments, growth, trends, forecasts, etc in detail for the benefit of the users. 

Report Period:

• Historic: 2017


• Base: 2022


• Forecast: 2030

Report demography:

• North America 


• Europe 


• APAC