Security Information and Event Management Market Size [2031]

Security Information and Event Management Market Size [2031]

Segments - Security Information and Event Management Market by Application (Security Analytics, Threat Intelligence, Log Management and Reporting, and Others), Component (Services and Solutions), Organization Size (Large Enterprises and Small & Medium-sized Enterprises), Deployment (Cloud-based and On-premises), Vertical (Manufacturing, Retail Trade, Healthcare & Social Assistance, Finance & Insurance, Information, Utilities, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023– 2031

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Author : Raksha Sharma
https://growthmarketreports.com/Vineet
Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-4283 | 4.2 Rating | 68 Reviews | 189 Pages | Format : PDF Excel PPT

Report Description


The global security information and event management market size was valued at USD 6.72 Bn in 2022, is projected to reach USD 18.34 Bn by 2031, and expand at a CAGR of 16.43% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing demand for security information and event management.

Security information and event management (SIEM) enable compliance, threat detection, and security incident management. In this procedure, the information related to security events is gathered, stored, and analyzed with a broad range of other events and contextual data sources.

Global Security Information and Event Management Market Outlook

Applications, host systems, networks, and domain controllers are typically included in the infrastructure, as are security devices including firewalls and antivirus filters. The market covers activities such as providing countermeasure information, accumulating and disseminating threat intelligence, and providing early warning threat services.

Increasing security concerns in numerous industries such as Information technology (IT), government premises, and even residential and commercial applications, are projected to grow the SIEM market. Reduced liabilities, raised employee responsibilities, reinforce compliance, and improve work efficiency, are some of the advantages which influence the growth of the market.

The COVID-19 pandemic affected the SIEM solutions industry in terms of manufacturing, support, distribution, maintenance, and investment. Lockdowns have resulted in a shortage of in-field employees and technicians, as offices were shutting down, and developers were cut off from the network. There was a significant investment crisis due to the economic volatility of the market.


A thorough security information and event management market study is necessary, to completely identify all areas of the industry. However, current developments such as an increase in the digital population and distant company activities via cloud-based software suggest that the SIEM system industry has a bright future.

Security Information And Event Management Market Dynamics

Drivers

Increasing demand for regulatory compliance regarding IT security is expected to drive the market. Rising concern for cyber-attacks and external or internal threats that harm the data is projected to propel the market during the forecast period.

Restraints

A lack of awareness regarding sophisticated solutions is expected to hamper the market in the coming years. Factors such as the high cost of scalability & deployment of SIEM are estimated to hinder market growth. However, the installation, maintenance, updates, and staffing of SIEM is an expensive investment, and this reflects as one of the major restraints of the market. The availability of free software or system is anticipated to hinder market growth, as freely available software occupies a large section of the market.

Opportunities

Advancements in the internet of things and 5G technology is projected to create lucrative opportunities for market players. The recent trends of increase in the digitally inclined population and adoption of remote business operations require cloud-based software support. This is projected to give light on the emerging opportunities in the security information and event management market.

Global Security Information and Event Management Market Dynamics

Scope of Security Information And Event Management Market Report

The report on the global security information and event management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Attributes

Details

Report Title

Security Information and Event Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2021 – 2022

Forecast Period

2023–2031

Segmentation

Application (Security Analytics, Threat Intelligence, Log Management and Reporting, and Others), Component (Services and Solutions), Organization Size (Large Enterprises and Small & Medium-sized Enterprises), Deployment (Cloud-based and On-premises), and Vertical (Manufacturing, Retail Trade, Healthcare & Social Assistance, Finance & Insurance, Information, Utilities, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Sumo Logic; Fortra, LLC; Fortinet, Inc.; BlackStratu; ALIENVAULT, INC.; LogPoint.; GURUCUl; Graylog, Inc.; Cygilant, Inc.; SolarWinds Worldwide, LLC.; Sumo Logic; Fortra, LLC; Fortinet, Inc.; BlackStratu; ALIENVAULT, INC.; LogPoint.; GURUCUl; Graylog, Inc.; Cygilant, Inc.; and LogRhythm, Inc.

Security Information And Event Management Market Segment Insights

On the basis of application, the security information and event management market is segregated into security analytics, threat intelligence, log management and reporting, and others. The security analytics segment is projected to expand at a considerable CAGR during the forecast period.

Comprehensive visibility, automation for error detection and remediation, adherence to demanding compliance demands, log collecting, and management, are some of the elements that drive the need for security analytics. The threat intelligence segment is anticipated to account for a major market share during the forecast period, as it is used to identify potential breaches and dwelling threats from disparate network areas.

Global Security Information and Event Management Market Application

Based on component, the market is bifurcated into services and solutions. The solutions segment is expected to hold a significant share of the market in the coming years, due to rising demand for modern SEIM tools to manage IT security. The services segment accounts for a significant market share, owing to rising demand for security management, supportive government policies, and rules to implement SEIM software.

On the basis of organization size, the security information and event management market is segregated into large enterprises and small & medium-sized enterprises. The small & medium-sized enterprises segment is anticipated to expand at a substantial CAGR during the forecast period, owing to the deployment of advanced technology to promote lower liabilities and increase employee accountability. The large enterprise segment is expected to hold a significant share of the market, to increase efficiency and strengthen compliance.

On the basis of vertical, the market is segregated into manufacturing, retail trade, healthcare & social assistance, finance & insurance, information, utilities, and others. The healthcare and social assistance segment is projected to expand at a considerable CAGR during the forecast period, to generate and commercialize healthcare goods and services.

The finance and insurance segment is anticipated to account for a major market share during the forecast period, owing to the increasing need for a balanced security approach and the integration of detection and response tools with security information.

In terms of region, the security information and event management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, owing to increasing demand for regulatory compliance regarding IT security in the region. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to rising concern for cyber-attacks in the region.

Global Security Information and Event Management Market Regions

Segments

The global security information and event management market has been segmented on the basis of

Application

  • Security Analytics
  • Threat Intelligence
  • Log Management and Reporting
  • Other

Component

  • Services
  • Solutions

Organization Size

  • Large Enterprises
  • Small & Medium-sized Enterprises

Deployment

  • Cloud-based
  • On-premises

Vertical

  • Manufacturing
  • Retail Trade
  • Healthcare & Social Assistance
  • Finance & Insurance
  • Information
  • Utilities
  • Other

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Sumo Logic
  • Fortra, LLC
  • Fortinet, Inc.
  • BlackStratu
  • ALIENVAULT, INC.
  • LogPoint.
  • GURUCUl
  • Graylog, Inc.
  • Cygilant, Inc.
  • LogRhythm, Inc.

Competitive Landscape

Key players in the global security information and event management market are Sumo Logic; Fortra, LLC; Fortinet, Inc.; BlackStratu; ALIENVAULT, INC.; LogPoint.; GURUCUl; Graylog, Inc.; Cygilant, Inc.; SolarWinds Worldwide, LLC.; Sumo Logic; Fortra, LLC; Fortinet, Inc.; BlackStratu; ALIENVAULT, INC.; LogPoint.; GURUCUl; Graylog, Inc.; Cygilant, Inc.; and LogRhythm, Inc.  Followed by the strategies they use. For instance,

In October 2022, LogRhythm, Inc. launched a Cloud-Native Security Operations Platform called Axon, a new system that is introduced as an upgrade to LogRhythm SIEM, NDR, and UEBA. With Axon, security teams are estimated to easily obtain clean visibility across cloud and on-premises log sources.

Global Security Information and Event Management Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Security Information and Event Management Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Security Information and Event Management Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Security Information and Event Management Market - Supply Chain
  4.5. Global Security Information and Event Management Market Forecast
     4.5.1. Security Information and Event Management Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Security Information and Event Management Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Security Information and Event Management Market Absolute $ Opportunity
5. Global Security Information and Event Management Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Security Information and Event Management Market Size and Volume Forecast by Applications
     5.3.1. Security Analytics
     5.3.2. Threat Intelligence
     5.3.3. Log Management and Reporting
     5.3.4. Other
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Security Information and Event Management Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Security Information and Event Management Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Security Information and Event Management Demand Share Forecast, 2019-2026
7. North America Security Information and Event Management Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Security Information and Event Management Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Security Information and Event Management Market Size and Volume Forecast by Applications
     7.4.1. Security Analytics
     7.4.2. Threat Intelligence
     7.4.3. Log Management and Reporting
     7.4.4. Other
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Security Information and Event Management Demand Share Forecast, 2019-2026
8. Latin America Security Information and Event Management Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Security Information and Event Management Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Security Information and Event Management Market Size and Volume Forecast by Applications
     8.4.1. Security Analytics
     8.4.2. Threat Intelligence
     8.4.3. Log Management and Reporting
     8.4.4. Other
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Security Information and Event Management Demand Share Forecast, 2019-2026
9. Europe Security Information and Event Management Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Security Information and Event Management Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Security Information and Event Management Market Size and Volume Forecast by Applications
     9.4.1. Security Analytics
     9.4.2. Threat Intelligence
     9.4.3. Log Management and Reporting
     9.4.4. Other
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Security Information and Event Management Demand Share Forecast, 2019-2026
10. Asia Pacific Security Information and Event Management Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Security Information and Event Management Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Security Information and Event Management Market Size and Volume Forecast by Applications
     10.4.1. Security Analytics
     10.4.2. Threat Intelligence
     10.4.3. Log Management and Reporting
     10.4.4. Other
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Security Information and Event Management Demand Share Forecast, 2019-2026
11. Middle East & Africa Security Information and Event Management Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Security Information and Event Management Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Security Information and Event Management Market Size and Volume Forecast by Applications
     11.4.1. Security Analytics
     11.4.2. Threat Intelligence
     11.4.3. Log Management and Reporting
     11.4.4. Other
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Security Information and Event Management Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Security Information and Event Management Market: Market Share Analysis
  12.2. Security Information and Event Management Distributors and Customers
  12.3. Security Information and Event Management Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Sumo Logic
     12.4.2. Fortra, LLC
     12.4.3. Fortinet, Inc.
     12.4.4. BlackStratu
     12.4.5. ALIENVAULT, INC.
     12.4.6. LogPoint.
     12.4.7. GURUCUl
     12.4.8. Graylog, Inc.
     12.4.9. Cygilant, Inc.
     12.4.10. LogRhythm, Inc.

Methodology

Our Clients

Siemens Healthcare
Pfizer
The John Holland Group
General Mills
FedEx Logistics
Dassault Aviation
Honda Motor Co. Ltd.
Deloitte