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Security Information and Event Management Market by Product (Solution and Services), Enterprise Size (Large, Medium, and Small), and Vertical (BFSI, Government, IT & Telecom, Healthcare, Retail, Utilities, and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2022

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IC_172313
Pages: 140
Jun 2017 | 1526 Views
 
Author's : Kalyani Sonawane
Tables: 30
Charts: 56
 

Security Information and Event Management Market Overview:

Security Information and Event Management Market or SIEM market includes products designed to collect data from various sources to identify patterns of events that might signify misuse of critical data, failure, intrusion, or attack on systems.

Event discovery and correlation simplifies and speedup the network event monitoring by consolidating error logs and alerts into a unified solution. The market includes events such as collection and storage of the data log, collection & dissemination of threat intelligence, provision of information on countermeasures, and early warning threat services. The SIEM market is driven by regulatory compliances related to IT security and rise in concerns for cyberattacks and external & internal threats that are expected to harm the data.

The SIEM market is analyzed based on solutions and services offered by the market players from various industry verticals. SIEM products were traditionally inclined toward log and network event association and compliance reporting. However, the organization seek more efficient defense and expect to perform incident forensics. This has allowed vendors to incorporate threat intelligence feed and other contextual information into their offerings to offer improved capabilities as compared to Continuous Forensic analysis (CFA) products. SIEM systems are mandated by regulatory compliances such as the PCI DSS and the HIPAA Act, which has significantly affected the growth of global SIEM market.

Global Security Information and Event Management Market Segmentation

Global security information and event management market segmentation

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The global SIEM market is segmented based on product, enterprise size, vertical, and geography. Based on product, it is bifurcated into solution and services. As per enterprise size, it is divided into large enterprise, medium enterprise, and small enterprise. Based on vertical, it is classified into banking, financial services, and insurance (BFSI); government; IT & telecom; healthcare; retail; utilities; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global SIEM market was valued at $1,866 million in 2016, and is expected to reach $3,720 million by 2023, growing at a CAGR of 10.1% from 2017 to 2023. The major factors that drive the market growth are rise in security concerns as government institutes have access to country’s financial and personnel data, regulatory compliances related to SIEM, growth in complexity of threat landscape, and increase in number of population using internet. Retail SIEM market is expected to witness highest market growth, owing to surge in concern over security of e-commerce data and in-store financial and personal information about customers; BFSI is also one of the largest consumers of SIEM products, followed by IT & telecom vertical.

North America SIEM market generated highest revenue in 2016, attributed to regulatory compliances. The Asia-Pacific SIEM market is expected to grow at the highest CAGR, owing to enterprise mobility; rise in penetration of smartphones, laptops, and tablets; improvement of high-speed connectivity and significant increase in ICT expenditure.

The key players operating in the global SIEM industry 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. These players have expanded their market presence by adopting various business strategies such as acquisition, geographical expansion, product development, strategic alliances, and collaborations

Top Impacting Factors
Global Security Information and Event Management Market Top Impacting Factors

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Rise in Concerns Over IT Security

IT security has become a crucial issue for all organizations regardless of their industry and size. Customers demand for security management system that is well integrated with the IT infrastructure of the company and offers efficient performance at the affordable price. SIEM offers threat, log, and event management at an affordable cost and with a unified solution to simplify the complexity of managing multiple security solutions with high productivity.

Supportive it Governance and Regulatory Compliance

Increased attention to comprehensive IT governance policies and compliance with the regulatory framework drive the SIEM market globally. For instance, regulation mandates such as Health Insurance Portability and Accountability Act (HIPPA), the Sarbanes-Oxley Act (SOX), and the Payment Card Industry Data Security Standard (PCI DSS) drive the global SIEM market.

Increase in Security and Privacy Concerns

SIEM audio & video sessions offer encryption capabilities at the initial state; however, it is mandatory for the user that utilize video conferencing to check the encryption support. Rise in security & privacy concerns negatively impact the SIEM, in terms of encryption support and high security.

Complexity of SIEM Solutions

SIEM is a complex technology, which includes mobile devices, the cloud, and third-party threat intelligence in addition to the traditional sources such as endpoints, firewalls, system logs, and directory services. Although these additions offer better data analytics, it mandates ongoing tuning and maintenance.

Inconvenience in Demonstrating ROI

It is a difficult task for an IT administrator to calculate the return on investment (ROI) on security products. A well-known technique is to use data from studies illustrating the cost of data breaches to quantify the average cost per record or user. This can cause increased IT security expenditure.

Key Benefits

  • 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 in SIEM market
  • Porters 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 in SIEM market.
  • Comprehensive analyses of the trends, sub-segments, and key revenue pockets in SIEM market are provided.
  • Detailed analyses of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.

Security Information and Event Management Market Key Segments:

By Product

  • Solution
  • Services

By Enterprise Size

  • Large Enterprise
  • Medium Enterprise
  • Small Enterprise

By Vertical

  • BFSI
  • Government
  • IT & Telecom
  • Healthcare
  • Retail
  • Utilities
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • Australia
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

The Key Players Profiled in the Report are as follows:

  • Dell EMC
  • Hewlett Packard Enterprise Company
  • IBM Corporation
  • LogRhythm, Inc.
  • McAfee LLC.
  • SolarWinds, Inc.
  • Splunk, Inc.
  • Symantec Corporation
  • Trend Micro, Inc.
  • Trustwave Holdings Inc.
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
1.4.4. Market segmentation

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors

3.3. PORTERS FIVE FORCES

3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Degree of competition
3.3.4. Threat of new entrants
3.3.5. Threat of substitute

3.4. MARKET PLAYER POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Rise in concerns over IT security
3.5.1.2. Growth in adoption of BYOD trend
3.5.1.3. Continual threat of cybercrimes
3.5.1.4. Supportive IT governance and regulatory compliance

3.5.2. Restraints

3.5.2.1. Complexity of SIEM solutions
3.5.2.2. High cost of ownerships
3.5.2.3. Inconvenience in demonstrating ROI

3.5.3. Opportunities

3.5.3.1. Anomaly detection by next generation SIEM

Chapter: 4 GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, BY PRODUCT

4.1. OVERVIEW
4.2. SOLUTION

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. SERVICES

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

Chapter: 5 GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, BY ENTERPRISE SIZE

5.1. OVERVIEW
5.2. LARGE ENTERPRISE

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. MEDIUM ENTERPRISE

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.4. SMALL ENTERPRISE

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

Chapter: 6 GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, BY VERTICAL

6.1. OVERVIEW
6.2. BFSI

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.3. GOVERNMENT

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

6.4. IT & TELECOM

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast

6.5. HEALTHCARE

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast

6.6. RETAIL

6.6.1. Key market trends
6.6.2. Key growth factors and opportunities
6.6.3. Market size and forecast

6.7. UTILITIES

6.7.1. Key market trends
6.7.2. Key growth factors and opportunities
6.7.3. Market size and forecast

6.8. OTHERS

6.8.1. Key market trends
6.8.2. Key growth factors and opportunities
6.8.3. Market size and forecast

Chapter: 7 SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, BY GEOGRAPHY

7.1. OVERVIEW
7.2. NORTH AMERICA

7.2.1. Key trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast, by product
7.2.4. Market size and forecast, by enterprise size
7.2.5. Market size and forecast, by vertical
7.2.6. Market size and forecast, by country
7.2.7. U.S.

7.2.7.1. Market size and forecast

7.2.8. Canada

7.2.8.1. Market size and forecast

7.2.9. Mexico

7.2.9.1. Market size and forecast

7.3. EUROPE

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast, by product
7.3.4. Market size and forecast, by enterprise size
7.3.5. Market size and forecast, by vertical
7.3.6. Market size and forecast, by country
7.3.7. UK

7.3.7.1. Market size and forecast

7.3.8. Germany

7.3.8.1. Market size and forecast

7.3.9. France

7.3.9.1. Market size and forecast

7.3.10. Russia

7.3.10.1. Market size and forecast

7.3.11. Rest of Europe

7.3.11.1. Market size and forecast

7.4. ASIA-PACIFIC

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast, by product
7.4.4. Market size and forecast, by enterprise size
7.4.5. Market size and forecast, by vertical
7.4.6. Market size and forecast, by country
7.4.7. Australia

7.4.7.1. Market size and forecast

7.4.8. China

7.4.8.1. Market size and forecast

7.4.9. India

7.4.9.1. Market size and forecast

7.4.10. Japan

7.4.10.1. Market size and forecast

7.4.11. Rest of Asia-Pacific

7.4.11.1. Market size and forecast

7.5. LAMEA

7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast, by product
7.5.4. Market size and forecast, by enterprise size
7.5.5. Market size and forecast, by vertical
7.5.6. Market size and forecast, by country
7.5.7. Latin America

7.5.7.1. Market size and forecast

7.5.8. Middle East

7.5.8.1. Market size and forecast

7.5.9. Africa

7.5.9.1. Market size and forecast

Chapter: 8 COMPANY PROFILES

8.1. DELL EMC

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Business performance
8.1.4. Key strategic moves & developments

8.2. HEWLETT PACKARD ENTERPRISE COMPANY

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Business performance
8.2.4. Key strategic moves & developments

8.3. INTERNATIONAL BUSINESS MACHINE CORPORATION

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Business performance
8.3.4. Key strategic moves & developments

8.4. LOGRHYTHM, INC

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Business performance
8.4.4. Key strategic moves & developments

8.5. MCAFEE LLC

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Business performance
8.5.4. Key strategic moves & developments

8.6. SOLARWINDS INC.

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Business performance
8.6.4. Key strategic moves & developments

8.7. SPLUNK INC.

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Business performance
8.7.4. Key strategic moves & developments

8.8. SYMANTEC CORPORATION

8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Business performance
8.8.4. Key strategic moves & developments

8.9. TREND MICRO INC.

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Business performance
8.9.4. Key strategic moves & developments

8.10. TRUSTWAVE HOLDINGS, INC.

8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Business performance
8.10.4. Key strategic moves & developments

LIST OF TABLES

TABLE 1. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT BY PRODUCT, 2016-2023 ($MILLION)
TABLE 2. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT SOLUTION MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 3. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT SERVICES MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 4. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY ENTERPRISE SIZE, 2016-2023 ($MILLION)
TABLE 5. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR LARGE ENTERPRISE BY REGION, 2016-2023 ($MILLION)
TABLE 6. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR MEDIUM ENTERPRISE BY REGION, 2016-2023 ($MILLION)
TABLE 7. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR SMALL ENTERPRISE BY REGION, 2016-2023 ($MILLION)
TABLE 8. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY VERTICAL, 2016-2023 ($MILLION)
TABLE 9. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR BFSI BY REGION, 2016-2023 ($MILLION)
TABLE 10. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR GOVERNMENT BY REGION, 2016-2023 ($MILLION)
TABLE 11. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR IT & TELECOM BY REGION, 2016-2023 ($MILLION)
TABLE 12. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR HEALTHCARE BY REGION, 2016-2023 ($MILLION)
TABLE 13. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR RETAIL BY REGION, 2016-2023 ($MILLION)
TABLE 14. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR UTILITIES BY REGION, 2016-2023 ($MILLION)
TABLE 15. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR OTHERS BY REGION, 2016-2023 ($MILLION)
TABLE 16. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 17. NORTH AMERICA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. EUROPE SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 19. ASIA-PACIFIC SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 20. LAMEA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 21. COMPANY SNAPSHOT: DELL EMC
TABLE 22. COMPANY SNAPSHOT: HEWLETT PACKARD ENTERPRISE COMPANY
TABLE 23. COMPANY SNAPSHOT: INTERNATIONAL BUSINESS MACHINE CORPORATION
TABLE 24. COMPANY SNAPSHOT: LOGRHYTHM, INC
TABLE 25. COMPANY SNAPSHOT: MCAFEE LLC
TABLE 26. COMPANY SNAPSHOT: SOLARWINDS INC.
TABLE 27. COMPANY SNAPSHOT: SPLUNK INC.
TABLE 28. COMPANY SNAPSHOT: SYMANTEC CORPORATION
TABLE 29. COMPANY SNAPSHOT: TREND MICRO INC.
TABLE 30. COMPANY SNAPSHOT: TRUSTWAVE HOLDINGS, INC.

LIST OF FIGURES

FIGURE 1. MARKET SEGMENTATION: SECURITY INFORMATION AND EVENT MANAGEMENT MARKET
FIGURE 2. TOP WINNING STRATEGIES, 2013-2017 (%)
FIGURE 3. TOP WINNING STRATEGIES, 2013-2017
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. TOP IMPACTING FACTORS
FIGURE 6. PORTERS FIVE FORCES ANALYSIS
FIGURE 7. MODERATE BARGAINING POWER OF BUYERS
FIGURE 8. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 9. HIGH DEGREE OF COMPETITION
FIGURE 10. MODERATE THREAT OF NEW ENTRANTS
FIGURE 11. LOW THREAT OF SUBSTITUTES
FIGURE 12. MARKET PLAYER POSITIONING, 2015
FIGURE 13. DRIVERS, RESTRAINTS, AND OPPORTUNITIES
FIGURE 14. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT SOLUTION MARKET, 2016-2023 ($MILLION)
FIGURE 15. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 16. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR LARGE ENTERPRISE, 2016-2023 ($MILLION)
FIGURE 17. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR MEDIUM ENTERPRISE, 2016-2023 ($MILLION)
FIGURE 18. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR SMALL ENTERPRISE, 2016-2023 ($MILLION)
FIGURE 19. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR BFSI, 2016-2023 ($MILLION)
FIGURE 20. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR GOVERNMENT, 2016-2023 ($MILLION)
FIGURE 21. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR IT & TELECOM, 2016-2023 ($MILLION)
FIGURE 22. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR HEALTHCARE, 2016-2023 ($MILLION)
FIGURE 23. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR RETAIL, 2016-2023 ($MILLION)
FIGURE 24. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR UTILITIES, 2016-2023 ($MILLION)
FIGURE 25. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET FOR OTHERS, 2016-2023 ($MILLION)
FIGURE 26. GLOBAL SECURITY INFORMATION AND EVENT MANAGEMENT MARKET BY GEOGRAPHY, MARKET SHARE (2016) AND CAGR (2017-2023, %)
FIGURE 27. NORTH AMERICA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 28. U.S. SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 29. CANADA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 30. MEXICO SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 31. EUROPE SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 32. UK SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 33. GERMANY SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 34. FRANCE SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 35. RUSSIA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 36. REST OF EUROPE SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 37. ASIA-PACIFIC SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 38. AUSTRALIA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 39. CHINA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 40. INDIA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 41. JAPAN SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 (MILLION)
FIGURE 42. REST OF ASIA-PACIFIC SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 43. LAMEA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 44. LATIN AMERICA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 45. MIDDLE EAST SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 46. AFRICA SECURITY INFORMATION AND EVENT MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 47. DELL EMC: FINANCIAL PERFORMANCE
FIGURE 48. HEWLETT PACKARD ENTERPRISE COMPANY: FINANCIAL PERFORMANCE
FIGURE 49. INTERNATIONAL BUSINESS MACHINE CORPORATION: FINANCIAL PERFORMANCE
FIGURE 50. LOGRHYTHM, INC: FINANCIAL PERFORMANCE
FIGURE 51. MCAFEE LLC: FINANCIAL PERFORMANCE
FIGURE 52. SOLARWINDS INC.: FINANCIAL PERFORMANCE
FIGURE 53. SPLUNK INC.: FINANCIAL PERFORMANCE
FIGURE 54. SYMANTEC CORPORATION: FINANCIAL PERFORMANCE
FIGURE 55. TREND MICRO INC.: FINANCIAL PERFORMANCE
FIGURE 56. TRUSTWAVE HOLDINGS, INC.: FINANCIAL PERFORMANCE

 

Security information and event management (SIEM) solutions collect and analyze event data produced by network infrastructure devices, security devices, and applications. The data is collected from logs; however, vendors are also capable of using other forms of data such as network flows. The SIEM technology offers historical analysis, real-time security monitoring, and other support for event investigation.

The global SIEM market is expected to reach $3,720 million by 2023, owing to rise in concerns over IT security, growth in adoption of Bring Your Own Device (BYOD) and enterprise mobility trend, frequent threat of cybercrimes, and supportive IT governance and regulatory compliance. The SIEM market size is expected to witness significant growth attributed to anomaly detection using next-generation SIEM system and large number of users using internet services.

The solution segment was the highest contributor to the global SIEM market, in terms of revenue, while the services segment is anticipated to witness the highest growth rate during the forecast period as services are used to create more awareness about the technology and helps vendors to increase their market presence.

Several enterprises are adopting SIEM solutions, such as log data compression and retention, malicious event tracking, and endpoint monitoring, to protect the critical data against intruders. Global SIEM market is analyzed across three major types of enterprises based on their size as large (5,000+ users), medium (100-4,999), and small (less than 100). Large enterprises are the primary consumers of SIEM products. However, in the recent years, small- and medium-sized enterprises have shown significant adoption of SIEM, owing to inclination of the enterprises toward managed service model and increased suitable product offerings from the key market vendors.

Government is the largest consumer of the SIEM products, followed by BFSI. Further, retail SIEM market is expected to witness highest growth during the forecast period, owing to rise in need to safeguard e-commerce transactions and in-store data, which encompasses vital financial and personal information of their customers.

The key market players in the global SIEM market have adopted various strategies, such as product launches, partnership, business expansion, promotional activities, and strategic alliances, to create more awareness about the technology and increase their adoption across various verticals.

 

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