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Security Information and Event Management Market
The Security Information and Event Management Market was valued at USD 3,987 million in 2019, expanding at a CAGR of 5.1% over the forecast period (2020-2027).
The factors driving the growth of Security Information and Event Management Market includes growing demand for cloud based SIEM services, increasing application of security information and event management software in the field of security analytics and threat intelligence, and rising incidence of cyber-attacks around the world. According to the report published by Spanning, the cyberattacks almost increase by 50% with each organization facing around 925 cyberattacks per week, globally, in every 39 seconds a company might face a cyberattack, which is expected to boost the Security Information and Event Management Market size in the coming years. Moreover, the rising trend of Bring Your Own Device (BYOD), regulatory compliances regarding IT security, growing security concerns in the BSFI and IT industries and increasing disposable incomes, are some of the additional factors supplementing the market growth.
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However, the growth of Security Information and Event Management Market is hindered due to high cost of deploying SIEM solutions.
The prominent players operating in the market are Zoho Corporation, LogRhythm, Inc, Alert Logic, Inc., Micro Focus International Plc, Rapid7 LLC, RSA Security LLC, SolarWinds Worldwide, LLC, IBM Corporation, McAfee, LLC and Splunk Inc, among others.
Component: Segment Analysis
Based on Component, the Solution segment is predicted to expand at a remarkable CAGR during the forecast period because it helps in managing security threats and provides enhanced security information model.
Industry: Segment Analysis
Based on Industry, the Healthcare industry is Estimated to grow at a significant CAGR over the forecast period because the SIEM solutions in the healthcare industry helps in monitoring threats and helps in collecting wide variety of log files.
Regional: Segment Analysis
Based on Region, the North America region is expected to capture the largest market share during the forecast period. The increasing number of cyberattacks in the United States, presence of the leading companies, high per capita incomes, and growing population growth rates, are some of the important features augmenting the market growth.
Market Segmentation
Segmentation by Component
Solution
Services
Segmentation by Application
Log Management and Reporting
Threat Intelligence
Security Analytics
Others (include application monitoring, behavior profiling, and database management)
Segmentation by Organization Size
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Segmentation by Deployment Mode
On-premises
Cloud
Segmentation by Vertical
Information
Finance and Insurance
Healthcare and Social Assistance
Retail Trade
Manufacturing
Utilities
Others (includes transportation and warehousing; arts, entertainment and recreation; and educational services)
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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