Global security information and event management market was valued at US$1.96 billion in 2017 and is projected to reach US$4.30 billion by 2026, at a CAGR of 10.32% during a forecast period. events that could mean misuse of critical data, failure, invasion or attack of systems.
The increasing level of sophistication of cyber crimes and increasing compliance and regulatory mandates are the major driving factors for the growth of the security information and event management market. The security intelligence and event management market provides better threat intelligence, better analytics, and behavior profiling which in turn helps in detecting breaches early and taking required preventative actions. However, the high deployment cost and scalability of solutions in the security information and event management market may reduce the growth of the market.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful information, facts, historical data, industry validated market data and projections with an appropriate set of assumptions and methodology. The report also helps to understand the Security Information and Event Management market dynamics, its structure by identifying and analyzing the market segments by product, company size, vertical, and region and projects the market size global. In addition, the report also focuses on the competitive analysis of major players by product, price, financial standing, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER analysis and SWOT analysis to answer shareholders’ question to prioritize efforts and investments in the near future in a particular market segment.
The retail segment is estimated to witness the highest growth in the market owing to growing concerns over the security of e-commerce data and in-store financial and personal information of customers. BFSI is also one of the largest consumers of security information and event management products, followed by IT & telecommunications vertical.
Large enterprises are the major consumers of security information and event management products and the market is expected to be around US$1.20 billion in 2017. However, a small enterprise is expected to grow at the highest growth rate over the forecast period due to its wide acceptance and increased product offerings from major market players.
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North America is estimated to hold the largest market share in the security information and event management market owing to technological advancements and rapid developments. Asia-Pacific is also heavily involved in the global security information and event management market share due to enterprise mobility, growing penetration of smartphones, laptops and tablets. In addition, the development of broadband connectivity and the significant increase in ICT expenditure in the region.
Some of the major players in the global security information and event management market are LogRhythm, Inc., Symantec Corporation, Dell EMC, Hewlett Packard Enterprise Company, IBM Corporation, McAfee LLC., SolarWinds, Inc., Splunk, Inc., Trend Micro, Inc. and Trustwave Holdings Inc.
Scope of the Global Security Information and Event Management Market
Global Security Information and Event Management Market by Product
Global Security Information and Event Management Market by Company Size
Global Security Information and Event Management Market by Vertical
IT & Telecom
Global Security Information and Event Management Market by Geography
Middle East & Africa
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Key players operating in the global Security Information and Event Management Market
Tenable network security