Global Security Information and Event Management Software Market Overview:
Most mid- to large-sized businesses use Security Information and Event Management (SIEM) embedded in a Security Operations Center to reach a high degree of cyber security awareness. These systems facilitate the unified processing and review of security-relevant information provided by a number of different systems, allowing advanced threats to be detected and response times to be improved in the event of an incident. The SIEM gathers log data, normalizes it into a compatible format, and allows incidents from different systems to be cross-checked. They allow accurate monitoring and the sending of notifications with high confidence. SIEM devices are now increasingly becoming an essential component of regulatory enforcement reporting. Some of the players profiled in the study are SolarWinds (United States), IBM (United States), Micro Focus (United Kingdom), Rapid7 (United States), RSA (United States), McAfee (United States), Splunk (United States), ManageEngine (United States), LogRhythm (United States) and Exabeam (United States).
On the basis of geography, the market of Security Information and Event Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. Cloud will boost the Security Information and Event Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry, the sub-segment i.e. Banking, Financial Services and Insurance (BFSI) will boost the Security Information and Event Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the Security Information and Event Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increasing Exposure to Cyber Vulnerabilities
- Stringent Regional Privacy Compliance Norms
- Fast Pace Growth in Event Management Industry
- Integration with SIEM Solution with Managed Detection and Response Tools
- Technical errors and Glitches
- Highly Skewed Player Distribution
- Growing Implementation in SMEs Across Developing Regions
- Lack of Skilled Professionals
Key Market Developments:
On 13th January, 2021 - LogRhythm Announced Acquisition of MistNet (Leading Threat Detection Platform). The Transaction Broadens the Solution Provider's Scope into The Threat Identification Industry While Also Hastening Their Entrance into The XDR Business. and On 10th March, 2021 – Datto Completed Its Acquisition of BitDam (Cybersecurity and Threat Detection Company). BitDam's Protection Technologies Could Assist MSPs In Protecting Consumer Apps Like Microsoft 365 And Google Workspace.
On 14th May, 2019 - LogRhythm Released Cloud-Based NextGen Security Information and Event Management (SIEM) Platform. For SOCs All Over the World, The Platform Allows Accurate Identification and Rapid Neutralisation of Advanced Cyberthreats. and On 14th July, 2020 - McAfee Launched ESM Cloud, Delivering Rapid Time to Value with Incident Investigations. McAfee Enterprise Security Manager (ESM) Cloud is a Cloud-Based Security and Information Event Management (SIEM) Solution for Identification.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Security Information and Event Management Software Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Security Information and Event Management Software market on the basis of product  , application [Threat Intelligence, Log Management and Reporting, Database Management, Security Analytics and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Security Information and Event Management Software market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Security Information and Event Management Software industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Securonix (United States), Sumo Logic (United States), BlackStratus (United States) and Alert Logic (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Security Information and Event Management Software market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.