Latest market study on “Security Information and Event Management Market to 2027 by Solution (Patch Management, Log & Event Management, Firewall Security Management, and Others); Service (Integration, Consulting, and Support); and End User (Healthcare, Energy & Utility, BFSI, Government, Retail, and Others) - Global Analysis and Forecast”, the Security Information and Event Management market is estimated to reach US$ 6.24 Bn by 2027 from US$ 2.59 Bn in 2018. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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.
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Top Companies profiled in this report: AlienVault, DFLABS SPA, Fireeye, Inc., Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, LogRhythm, Inc., RSA Security LLC, SolarWinds Inc., Splunk Inc., TIBCO Software Inc. among others.
A highly attractive adoption rate for the security information and event management market is anticipated
Factors such as increasing number of large volume of cyber incident threats coupled with stringent cyber security legislation and regulations are the major factors driving the growth of SOAR based solutions. Moreover, the growing popularity if automation and adoption of AI enabled solutions especially among large enterprise owners is also expected to have profound positive influence over the growth of the security information and event management market in the coming years. The increasing demand for automated incident response and use of AI enabled solutions is also expected to drive the market growth in the coming years. Thus, the market is poised to provide numerous profitable opportunities for the market players in the coming years.
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.
The global market for SIEM is anticipated to exhibit very high growth in near future. Some of the major driving factors contributing to the market growth includes surge in volume of cyber alerts, and data generation increasingly stringent cyber security regulations & legislations. Also, growing spending towards enhanced IT security is expected to significantly drive the SIEM market. Despite a few factors restraining the market growth, the splurge in the number of devices on the network as a result of advent of IoT and also the accompanying incidences of cyber-attacks create good opportunities for the players operating in the SIEM market.
Key highlights of the global Security Information and Event Management market for the forecast years 2019-2027:
- CAGR of the market during the forecast period 2019-2027
- Detailed information on factors that will accelerate the growth of the Security Information and Event Management market during the next five years
- Precise estimation of the global Security Information and Event Management market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the Security Information and Event Management industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the Security Information and Event Management companies
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Contact: Sameer Joshi