The global Security Information and Event Management market size is projected to reach US$ 6436.2 million by 2027, from US$ 3938.3 million in 2020, at a CAGR of 6.8% during 2021-2027. The need for continuous monitoring and incident response, adherence to regulatory standards, obtaining and maintaining certifications, and managing and storing logs are all major aspects driving Security Information and Event Management market demand.
Furthermore, the Security Information and Event Management market is predicted to grow as people become more concerned about IT security. SIEM offers low-cost threat, log, and event management in a centralized system, making it easier to manage many security systems while retaining high productivity. Increased attention to complete IT governance standards and compliance with the regulatory environment is driving the SIEM market globally.
The Security Information and Event Management market is likely to be driven by increasing demand for security solutions that assist enterprises in recognizing potential security risks and vulnerabilities. As remote workforces, SaaS apps, and BYOD (Bring Your Own Device) policies have risen in popularity, organizations require the amount of visibility required to control network threats from outside the traditional network perimeter. SIEM systems track all network activity across all users, devices, and apps, enabling better visibility throughout the entire infrastructure and threat detection no matter where digital assets and services are used.
SIEM systems are also capable of doing digital forensic investigations in the event of a security breach. SIEM solutions allow firms to centrally collect and analyze log data from all of their digital assets. This allows them to recreate past events or assess new ones in order to investigate suspicious behavior and improve security measures.
During the projection period, the SIEM market is projected to be driven by increased focus to complete IT governance rules and compliance with the regulatory framework. For enterprises that must comply with a multitude of requirements, SIEM solutions are a popular choice. Because it enables automatic data collection and analysis, SIEM is a useful tool for obtaining and verifying compliance data throughout the entire company infrastructure. SIEM solutions may generate real-time compliance reports for PCI-DSS, GDPR, HIPPA, SOX, and other regulations, making security management easier and discovering problems sooner.
Based on application, raising worries about the security of e-commerce data and in-store financial and personal information about customers, the retail SIEM market is expected to grow the fastest; BFSI is also one of the top SIEM users, followed by the IT & telecom vertical.
North America is expected to be the most profitable region during the projection period. Several firms across industries in North America are looking to use SIEM solutions to improve their breach detection and monitoring capabilities. SIEM technology is rapidly being adopted by businesses that are focusing on security and compliance reporting requirements. Larger firms that take a cautious approach to technology adoption are also employing SIEM solutions.
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Report Metric |
Details |
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Report Name |
Security Information and Event Management Market |
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The market size in 2020 |
USD 3938.3 Million |
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The revenue forecast in 2027 |
USD 6436.2 Million |
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Growth Rate |
CAGR of 6.8% from 2021 to 2027 |
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Market size available for years |
2021-2027 |
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Forecast units |
Value (USD) |
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Segments covered |
Type, End-User, Offerings, and Region |
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Report coverage |
Revenue & volume forecast, company share, competitive landscape, growth factors, and trends |
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Geographic regions covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Ans. The global Security Information and Event Management market size is projected to reach US$ 6436.2 million by 2027, from US$ 3938.3 million in 2020, at a CAGR of 6.8% during 2021-2027.
Ans. Based on application, raising worries about the security of e-commerce data and in-store financial and personal information about customers, the retail SIEM market is expected to grow the fastest
Ans. The Security Information and Event Management market is likely to be driven by increasing demand for security solutions that assist enterprises in recognizing potential security risks and vulnerabilities
Ans. North America is expected to be the most profitable region during the projection period.
Ans. The forecast period for the security information and event management market is 2021 to 2027.
Ans. The top companies operating in the security information and event management market include IBM, Hewlett Packard, McAfee, LogRhythm, Splunk, AlienVault, BlackStratus, EventTracker, Dell Technologies, Fortinet, Micro Focus, SolarWinds, Symantec, Tenable Network Security, TIBCO Software, Trustwave, ZOHO Corp
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