Security Information and Event Management (SIEM) Market Share, Industry Size & Growth, Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Security Information and Event Management (SIEM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global SIEM market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Security Information and Event Management (SIEM) Market?

The global security information and event management (SIEM) market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.

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What is Security Information and Event Management (SIEM)?

Security information and event management (SIEM) is a comprehensive solution that helps organizations manage and analyze security events and information in real-time. It collects and correlates data from network devices, servers, applications, and security devices, to provide a holistic view of the security measures of an organization. It facilitates monitoring unauthorized access attempts, malware infections, and data breaches, enabling timely response and mitigation. It offers numerous features like log management, event correlation, threat intelligence integration, and reporting capabilities. It assists organizations to improve their incident detection and response capabilities, enhance compliance with regulatory requirements, and strengthen overall cybersecurity posture.

What are the growth prospects and trends in the security information and event management (SIEM) industry?

The escalating need for advanced security solutions that help organizations identify potential threats and vulnerabilities represents one of the key factors driving the market. The escalating frequency and complexity of cyber threats, fraudulent cases, and data breaches are encouraging organizations across various industries to invest in robust cybersecurity solutions.

Additionally, the widespread adoption of hybrid information technology (IT) infrastructures and the shift towards remote work module is catalyzing the demand for cloud-based SIEM solutions. Cloud-based SIEM offers scalability, flexibility, and cost-efficiency, allowing organizations to monitor their cloud environments and on-premises infrastructure seamlessly.

Moreover, the integration of artificial intelligence (AI) and machine learning (ML) technologies into SIEM systems is enhancing threat detection capabilities and improving the accuracy and efficiency of security event analysis.

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The report has segmented the market on the basis of component, deployment mode, organization size, application and industry vertical.
Breakup by Component:
• Solution
• Services

Breakup by Deployment Mode:
• On-premises
• Cloud-based

Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by Application:
• Log Management and Reporting
• Threat Intelligence
• Security Analytics
• Others

Breakup by Industry Vertical:
• BFSI
• Government
• IT and Telecom
• Manufacturing
• Healthcare
• Retail
• Energy and Utilities
• Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

AT&T Inc., Exabeam, Inc., Fortinet, Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Logpoint A/S, Logrhythm, Inc., McAfee Corp., Micro Focus International plc, Solarwinds Corporation, Splunk Inc. and Trend Micro Inc.

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