Security information and event management (SIEM) is a combination of security information management (SIM) and security event management (SEM).
It is an approach toward security management that provides real-time analysis of the security alerts by applications and network hardware. It deals with correlation of events, real-time monitoring, console view, and notifications.
SIEM has the capability of data aggregation, alert production, correlation, pattern detection, forensic analysis, and others. It eliminates threats at a faster speed with instantaneous detection of suspicious activities and automatically responds to compliance and mitigation.
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The global SIEM market is attributed to regulatory compliance management such as the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), and the Sarbanes-Oxley Act (SOX). Rise in concerns over IT security has urged organizations to seek more capable defense system.
In addition, growth in adoption of Bring Your Own Devices (BYOD) and enterprise mobility drive the growth of the global SIEM market. Next-generation SIEM systems for anomaly detection are expected to offer growth opportunities for the SIEM technology in the near future.
However, high cost of ownership of the SIEM, complexity of SIEM products, and inconvenience in demonstration of the return of investments (ROI) for network and IT administrators hamper the growth of global SIEM industry.
The global SIEM market is segmented based on product, enterprise size, vertical, and geography. Based on product, it is divided into solution and services.
As per enterprise size, it is classified into large, medium, and small enterprise. Based on vertical, the global SIEM industry is categorized into banking, financial services, and insurance (BFSI); government; IT & telecom; healthcare; retail; utilities; and others.
Based on geography, itis studied across four regions, including North America, Europe, Asia-Pacific, and LAMEA.
The key market players offering SIEM include Dell EMC, Hewlett Packard Enterprise Company, IBM Corporation, LogRhythm, Inc., McAfee LLC., SolarWinds, Inc., Splunk, Inc., Symantec Corporation, Trend Micro, Inc., and Trustwave Holdings Inc.
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- In-depth analysis of the global SIEM market and dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the security information and event management market and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players.
- Comprehensive analyses of the trends, sub-segments, and key revenue pockets are provided.
- Detailed analyses of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
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