Delvens published a new research publication on "Managed Security information and event management (SIEM) Services market Insights, to 2030" with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Managed Security information and event management (SIEM) Services market was mainly driven by the increasing R&D spending across the world.
The global Managed Security information and event management (SIEM) Services market size was estimated at USD 7.7 billion in 2023 and is projected to reach USD 19.26 billion in 2030 at a CAGR of 14% during the forecast period 2024-2030.
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The Security Information and Event Management (SIEM) market is currently marked by a landscape dominated by major players such as IBM Corporation, Splunk Inc., Fortinet Inc., LogRhythm Inc., and McAfee LLC. These companies have established strong positions through their comprehensive SIEM solutions, meeting the increasing demand for robust cybersecurity measures across diverse industries.
The market itself is highly fragmented, characterized by a multitude of smaller players and emerging startups competing alongside industry giants. This fragmentation is driven by continuous technological advancements and strategic acquisitions within the sector, contributing to the market's dynamic evolution and expansion.
North America to Dominate the Market
North America holds a significant share in the Security Information and Event Management (SIEM) market due to escalating concerns about IT security and cyber threats. The region's leadership is underscored by widespread adoption of mobile devices, cloud services, and the growing trend of Bring Your Own Device (BYOD). As organizations transition to cloud environments, there is a pressing need to upgrade from outdated platforms to cloud-native SIEM technologies. These solutions bolster cybersecurity defences by offering enhanced visibility into cloud infrastructures and enabling rapid response to security incidents with agility and scalability.
Competitive Landscape
· IBM Corporation
· Splunk Inc.
· Fortinet Inc.
· LogRhythm Inc.
· McAfee LLC
· Open Text Corporation
· RSA Security LLC (Dell Technologies)
· Rapid7 Inc.
· Exabeam Inc.
· Securonix Inc.
· AlienVault Inc.
· Hewlett Packard Enterprise Company
· AT&T
· VERIZON
· CAPGEMINI
· TCS
· UNISYS
· NTT DATA
· Wipro and More
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Recent Developments:
In November 2023, ConnectWise unveiled significant enhancements to its security information and event management (SIEM) solutions, aimed at bolstering cybersecurity management capabilities. The updated system introduces advanced alerting mechanisms designed to deliver high-fidelity notifications, distinguishing critical incidents from less urgent ones.
In 2022, Exabeam introduced the New-Scale SIEM designed to enhance security operations globally, offering robust cybersecurity solutions. Exabeam collaborated with MUFG Bank of Japan to deploy its Fusion SIEM across all regional and national financial group sites.
The Managed Security information and event management (SIEM) Services Market is segmented into various segments such as Type, Deployment mode, Organization size, Application, Vertical and Region:
Based on Type
· Fully Managed
· Co-Managed
Based on the Deployment mode
· Cloud
· On-Premises
Based on the Organization size
· Large Enterprises
· SMEs
Based on Application
· Log Management and Reporting
· Threat Intelligence
· Security Analytics
· Other Applications
Based on vertical
· BFSI
· Government
· Healthcare
· Telecommunication
· IT and ITeS
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