According to a new report, published by KBV research, The Global Managed SIEM Services Market size is expected to reach $20.9 billion by 2030, rising at a market growth of 16.2% CAGR during the forecast period.
The Fully Managed segment would exhibit a a CAGR of 16.7% during (2023 - 2030). The service provider installs and configures the SIEM solution according to the client's requirements and specifications. Real-time monitoring of security events and notifications produced by the SIEM system guarantees that potential security incidents are promptly detected and resolved. As a result, there will be increased demand in the segment.
The Cloud segment is registering a strong potential in the Global Managed SIEM Services Market by Deployment Type in 2022 thereby achieving a market value of $14.6 billion by 2030. Many organizations are adopting cloud based SIEM solutions to leverage cloud infrastructure's scalability, flexibility, and cost-effectiveness. These solutions often provide the same core SIEM functionalities but are hosted and delivered through cloud platforms. Owing to these aspects, the segment will witness increased demand in the coming years.
The Small & Medium Enterprises segment is anticipated to have a CAGR of 17.5% during (2023 - 2030). Small and medium enterprises (SMEs), like larger enterprises, have become more aware of cybersecurity threats and the need for robust security measures. The growing sophistication of cyber threats has prompted SMEs to seek advanced security solutions, including managed SIEM services. Many SMEs lack in-house expertise and resources to effectively manage and monitor their security infrastructure. Outsourcing SIEM services to a managed service provider (MSP) allows them to leverage the expertise of security professionals and focus on their core business activities. These aspects will boost the demand in the segment.
The Log Management & Reporting segment is leading the Global Managed SIEM Services Market by Application in 2022 thereby, achieving a market value of $8 billion by 2030. Managed SIEM services involve the collection of logs and security event data from various sources within an organization's IT infrastructure, including networks, applications, endpoints, and more. Managed SIEM services offer customized reporting capabilities to provide insights into security incidents, compliance status, and overall network health. In general, these reports are tailored to meet the specific needs and specifications of the organization. These factors will boost the demand in the segment.
The Government & Public Sector segment is experiencing a CAGR of 18.4% during (2023 - 2030). Governments around the world are facing growing cybersecurity threats and challenges. As a result, they are increasingly investing in advanced security solutions, including managed SIEM services, to protect their sensitive data and critical infrastructure. Many government agencies face resource constraints, including limited budgets and cybersecurity expertise. Managed SIEM services allow them to leverage the expertise of third-party providers, ensuring effective security operations without the need for extensive in-house resources. Thus, these factors will help expand the segment.
Full Report: https://www.kbvresearch.com/managed-siem-services-market/
The North region market dominated the Global Managed SIEM Services Market by Region in 2022, achieving a market value of $8 billion by 2030, growing at a CAGR of 15.5 % during the forecast period. The Europe region would witness a CAGR of 15.8% during (2023 - 2030). Additionally, The Asia Pacific region is experiencing a CAGR of 17.1% during (2023 - 2030).
By Type
By Deployment Type
By Organization Size
By Application
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