The global security information and event management market is set for a good time ahead owing to increase in the cybercrime rates all over the world. According to Market Research Future study, the global market for security information and event management is to witness a robust at a CAGR of 14.6% and achieving a valuation of over USD 3.89 billion from USD 1.75 billion in 2017, during the forecast period.
The security and information event management empowers the end customers to identify their needs and analyze the data in the actual form. It benefits in a way that it makes the end-user prepare for the data breaches and future cyber-attacks. With the help of this, the customers can even store and log of the security breach incidents to happen for future safety.
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Market Drivers & Trends
The market for security information and event management is becoming popular for being such a technology that aids network engineers to compile the data produced through networking devices, systems, and specific applications. These beneficiaries are thus providing the market much traction over its growth period. The ability of security information and event management to be used for executing the raw data collected before and after the event log is also helping the market to spur throughout the forecast period.
At present, several various small and medium businesses are deploying security information and event management solutions to monitor security breach detection, which is creating a higher demand for the market to expand considerably.
The prominent players in the Security Information and Event Management Market are identified as 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). With this, 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), are the trending names of key players contributing to the market growth remarkably.
The global security information and event management market has been segmented based on solution, service, organization size, and vertical.
In terms of solution, the market has been included with log and event management, patch management, and firewall security management.
In terms of service, the market has been segmented into professional service and managed service. Among these, the professional service is also segmented into integration and deployment service, consulting service, and maintenance & support service.
In terms of organization size, the market consists of a large enterprise and small and medium-sized enterprises.
In terms of vertical, the market is categorized into BFSI, IT & telecommunication, healthcare, retail, utilities, and many more.
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Detailed Regional Market
The regional analysis of security information and event management market is studied for the key regions as 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 to have the largest market share during the forecast period owing to the rise of security information and event management services along with the rapid advancement in security technologies as well as end-user applications. On the other hand, the US is recorded to occupy nearly 75-80% of the key players that are operating in this market.
The factors that are contributing to the growth of security information and event management solution in Asia-Pacific are stringent government regulations and policies regarding data transmission. Such growth is anticipated to surge, during the forecast period, in support of high acceptance of cloud-based services and development in IT infrastructure.
LIST OF TABLES
Table 1 Global Security Information And Event Management Market, By Solution, 2019–2023 (USD Million)
Table 2 Global Security Information And Event Management Market, By Organization Size, 2019–2023 (USD Million)
Table 3 Global Security Information And Event Management Market, By Service, 2019–2023 (USD Million)
Table 4 Global Security Information And Event Management Market, By Vertical, 2019–2023 (USD Million)
Table 5 Global Security Information And Event Management Market, By Region, 2019–2023 (USD Million)
LIST OF FIGURES
FIGURE 1 Global Security Information And Event Management Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Security Information And Event Management Market
FIGURE 4 Value Chain Of Global Security Information And Event Management Market
FIGURE 5 Share Of Global Security Information And Event Management Market In 2017, By Country (In %)
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