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 2023
The global security information and event management market was valued at USD 1.75 billion in 2017 and is expected to reach USD 3.89 billion by the end of the forecast period with a CAGR of 14.6%The security and information event management enables the end customers to identify their needs and subsequently analyze the event data in real time. This benefits the end-users to be prepared for the data breaches, and cyber attacks. Moreover, the customers can store, and log any of the security breach incidents. The security information and event management technology enables the network engineers to compile the event data produced by networking devices, systems, and specific applications.
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Further, this collected information is compiled with contextual information regarding the customers, cyber threats, and vulnerabilities with real-time analysis. The security information and event management software is used to execute the raw data ceollected before and after the event log. Various small and medium enterprises are deploying security information and event management solutions to monitor security breach detection.The major factors that contribute the market growth is the increasing cyber crime rates in the US and economically stable European countries. Most the businesses that function over cloud face security breach as a major challenge.
The global security information and event management market is segmented into solution, service, organization size, vertical and region.By solution, the global security information and event management is segmented into log and event management, patch management, and firewall security management.By service, the global security information and event management is segmented into professional service, and managed service. Professional service is further segmented into integration and deployment service, consulting service, and maintenance & support service.
By organization size, the global security information and event management is segmented into large enterprise and small and medium sized enterprises.By vertical, the global security information and event management is segmented into BFSI, IT & telecommunication, healthcare, retail, utilities, and others.
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By region, the security information and event management market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
The global market for security information and event management is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of security information and event management market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Among the regions mentioned, North America is anticipated to have the largest market share during the forecast period. The major factor contributing towards the growth of security information and event management market is owing to the rapid advancement in security technologies and end-user application. Moreover, the US occupies nearly 75-80% of the major key players operating in this market. North America is followed by Asia-Pacific and Europe having nearly 22% and 18% market share.
The key players in the security information and event management market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Dell EMC (US), Hewlett Packard Enterprise Company (US), IBM Corporation (US), Logrhythm Inc (US), McAfee LLC (US), Solarwinds Inc (US), Splunk Inc (US), Symantec Corporation (US), TrendMicro Inc (Japan), Trustwave Holdings Inc (US), Assuria Ltd (UK), and TIBCO Software Inc (US).
Apart from the top key players, the other players contribute nearly 30–35 % in the security information and event management market. These include LogPoint A/S (Denmark), AlienVault Inc (US), Micro Focus International PLC (UK), Elastic NV (Netherlands), Exabeam (US), Fortinet Inc (US), Rapid7 Inc (US), ManageEngine (US), EventTracker (US), FireEye Inc (US), Graylog (US), Securonix (US)), HanSight (China), Venustech (China), Tripwire Inc (US), Comodo Group (US), and others.
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