According to a new report Global Security Information and Event Management Market, published by KBV research, The Global Security Information and Event Management Market size is expected to reach $6 billion by 2026, rising at a market growth of 8.4% CAGR during the forecast period. The increase in IT security issues and the growth in cybercrime have encouraged companies to invest in more effective defense technologies, as the threat environment gets more dynamic with the advent of mobile devices and the increase of cloud adoption. Increased adoption of Bring Your Own Device (BYOD) phenomenon is also driving growth on the global SIEM industry.
Large enterprises are the primary consumers of SIEM products. However, the SIEM market for small businesses is projected to expand at the highest growth rate during the forecast period, owing to its wide adoption and expanded product offerings from key players in the industry.
The Log Management & Reporting market dominated the Global Security Information & Event Management (SIEM) Market by Application 2019. The Threat Intelligence market is expected to witnessing a CAGR of 7.6% during (2020 - 2026). The Security Analytics market is expected to witness a CAGR of 9.2% during (2020 - 2026).
There is an growing number of data breaches and security risks that the data must be protected from. Safety awareness and the need for event management are important for this. Security software and event management tests and tracks data processing, and detects anomalies in the data structure of the organization.
The SIEM demand is rising at a rapid rate in North America. Several North American organizations across verticals are looking to improve their skills in breach detection and monitoring by implementing SIEM solution. Organizations rely on safety requirements, and SIEM technology is increasingly incorporating compliance reporting requirements. SIEM solution is often applied by larger organizations who take a conservative approach when implementing technologies.
Structural Insights: https://www.kbvresearch.com/security-information-event-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hewlett Packard Enterprise Company, SolarWinds Corporation, Rapid7, Inc., McAfee, LLC, Splunk, Inc., Fortinet, Inc., Micro Focus International PLC, Alert Logic, Inc., IBM Corporation, Securonix, Inc.
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