Global Security Information and Event Management Market By Component (Solution and Services) By Application (Log Management & Reporting, Threat Intelligence, Security Analytics and Others) By Deployment Type (On-premise and Cloud) By Organization Size (Large Enterprises and Small & Medium Enterprises) By Vertical (Information, Finance & Insurance, Healthcare & Social Assistance, Retail, Utilities and Others) By Region, Industry Analysis and Forecast, 2020 - 2026
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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. Security information and event management (SIEM) offers a real-time overview of security alerts created in the application and hardware network IT infrastructure organizations. SIEM refers to applications and product services combining Security Event Management (SEM) with Security Information Management (SIM). The risk of cyber-attack and security breaches for accessing sensitive information in banks and IT companies is likely to rise in the IT industry in coming years.
Global Security Information and Event Management Market Size
SIEM helps companies adhere to the standards of legal compliance and secure their IT infrastructure in the future. SIM helps to gather information from the IT systems of an enterprise and to store them in a structured security database. SIEM helps organize the logs in the security database and enables companies to track security related incidents in real time and take appropriate security measures. Log is created through the IT networks including network devices, databases, workstations, and security tools.
Security Information and Event Management Market Share
SIEM has become critical for the proper functioning of a business. In the case of a security violation, the SIEM program helps its end-users to conduct incident forensics by analyzing the specific log for that case. The SIEM approach requires separation of the main cause of a breach, failure, hazard or other activity that is not compliant. Growing numbers of companies are implementing SIEM solution not just for regulatory enforcement but also for vulnerability detection through tracking and identifying early security violations in an IT framework.
With the sudden break of Covid-19 in late months of year 2019, the markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019.
Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Log Management & Reporting, Threat Intelligence, Security Analytics and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into Information, Finance & Insurance, Healthcare & Social Assistance, Retail, Utilities and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Security Information and Event Management Market Cardinal Matrix
The major strategies followed by the market participants are Partnerships and Acquisitions. Based on the Analysis presented in the Cardinal matrix, IBM Corporation is the major forerunners in the Security Information and Event Management Market. Companies such as SolarWinds Corporation, Fortinet, Inc., McAfee, LLC, Hewlett Packard Enterprise Company, and Splunk, Inc., Rapid7, Inc., Alert Logic, Inc., Securonix, Inc., and Micro Focus International PLC are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Recent Strategies Deployed in Security Information and Event Management (SIEM) Market
» Partnerships, Collaborations, and Agreements:
- Mar-2020: Securonix partnered with Verizon following which Securonix’s cloud-based, next-gen SIEM solution would power Verizon’s new Managed Detection and Response (MDR) service. Under this partnership, the former company aims to provide the latter company with unlimited scale, advanced analytics, behavior detection, threat modeling, and automated incident response in a cloud-based solution.
- Feb-2020: IBM collaborated with Mimecast Limited, a leading email, and data security company. Following this collaboration, the companies announced a new integration with IBM Security Resilient solution, which Mimecast, through a pre-built API add on, integrates email security data into the IBM Resilient Security Orchestration Automation and Response (SOAR) capabilities.
- Dec-2019: McAfee came into partnership with Google Cloud. Under this partnership, McAfee solutions for endpoint and container security have been integrated into Google Cloud.
- Oct-2019: Micro Focus announced collaboration with Security Innovation, an authority in software security assessment and training. Following this collaboration, Micro Focus' customers have access to the industry’s largest online training catalog for software security.
- Sep-2019: McAfee extended its collaboration with Oracle for providing security incident and events management (SIEM) performance capabilities in the cloud. With this collaboration, the McAfee Enterprise Security Manager (McAfee ESM) technology running on Oracle Cloud Infrastructure increased the rate of data ingestion of events per second by more than 16 times.
- Aug-2019: Splunk announced collaboration with Deloitte for delivering automated security monitoring and response capabilities. These capabilities help in driving higher fidelity and greater consistency in security workflows and outputs for organizations.
- Mar-2019: IBM teamed up with Everbridge, Inc., a global leader in critical event management and IT incident response automation. Following this collaboration, Everbridge and IBM customers would use comprehensive security information and event management (SIEM), log management, anomaly detection, network analysis, user behavior analytics, and vulnerability management for analyzing data in real-time across an organization’s enterprise IT infrastructure to detect and prioritize potential security threats.
» Acquisition and Mergers:
- Feb-2020: Hewlett Packard Enterprise (HPE) acquired Scytale, an identity management startup. The acquisition enabled the company to provide customers and partners, the freedom to design, deploy, and achieve their IT operational goals, irrespective of supplier or location, with the same level of trust that was previously achievable only through proprietary network-security schemes.
- Feb-2020: McAfee completed the acquisition of Light Point Security, a cybersecurity company. The acquisition brought remote browser isolation capabilities to the MVISION Unified Cloud Edge (UCE) security solution.
- Dec-2019: Fortinet took over CyberSponse, a provider of Security Orchestration, Automation and Response (SOAR). The former company integrated CyberSponse’s powerful SOAR platform into the Fortinet Security Fabric and provides its customers with accelerated incident response and the ability to standardize and scale processes, enhancing security posture and reducing business risk and associated costs.
- Oct-2019: Fortinet completed the acquisition of enSilo, an endpoint detection and response firm. The acquisition enabled the company to provide agent-based software and services aimed at automating real-time threat detection, speeding response, and secure Internet of Things (IoT) devices.
- Aug-2019: Splunk signed a definitive agreement to acquire SignalFx, a SaaS leader in real-time monitoring and metrics for Cloud infrastructure, microservices, and applications. The acquisition helped the company in expanding its leadership in the ITOM and an AIOps industry.
- Feb-2019: Micro Focus completed the acquisition of Interset to unlock machine learning and user and entity behavior analytics (UEBA) capabilities to aid with threat detection analysis. The acquisition enabled the company to drive deeper data insights and help customers quickly and accurately validate and assess risk.
» Product Launches and Product Expansions:
- Feb-2020: McAfee upgraded its MVISION solution with the launch of Unified Cloud Edge, a solution that protects enterprise data across devices, web and the Cloud; Cloud Native Infrastructure Security, which enables the organizations in protecting the entire infrastructure and application stack of cloud-native applications; a global Managed Detection and Response (MDR) offering, and accelerated partner momentum.
- Feb-2020: Fortinet launched the FortiOS 6.4, the latest version of its Fortinet Security Fabric. FortiOS 6.4 has more than 350 new features and introduces new automation, scalability, performance, and AI capabilities for offering complete protection throughout the digital infrastructure.
- Jul-2019: Securonix unveiled the SOAR 2.0 product. The product has been integrated with SIEM, UEBA, and SOAR capabilities. Securonix SOAR 2.0 balances automation and orchestration with behavioral analytics for a more prioritized and streamlined incident response.
- Jun-2019: SolarWinds made enhancements to its application performance management (APM) solution, AppOptics. This solution can be integrated with two other solutions: Loggly, a cloud-hosted log monitoring tool, and Papertrail, a log analytics solution. These integrations enabled the users in combining APM strategies and technologies with distributed tracing and log management.
- May-2019: SolarWinds launched SolarWinds Security Event Manager (SEM). It is a powerful, simple, and affordable SIEM solution that has been designed for helping the security and IT professionals in strengthening their security posture by providing increased visibility into cybersecurity activity.
Scope of the Security Information and Event Management Market Analysis
- Log Management & Reporting
- Threat Intelligence
- Security Analytics
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Finance & Insurance
- Healthcare & Social Assistance
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- 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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Security Information and Event Management Market Related Reports:
What would be the value of global security information and event management market in 2026?
According to a new report published by KBV Research, The global security information and event management market size is expected to reach $6 billion by 2026.
What are the key factors drive security information and event management industry?
The major factors that are anticipated to drive the security information and event management industry include BFSI Expected to Witness Significant Growth, Exponential rise and sophistication of cyber attacks, and Increase in adoption of cloud-based services among SMEs.
Who are the leading players in security information and event management market?
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.