Security Information and Event Management (SIEM) Market Report by Component (Solution, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Log Management and Reporting, Threat Intelligence, Security Analytics, and Others), Industry Vertical (BFSI, Government, IT and Telecom, Manufacturing, Healthcare, Retail, Energy and Utilities, and Others), and Region 2024-2032

Security Information and Event Management (SIEM) Market Report by Component (Solution, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Log Management and Reporting, Threat Intelligence, Security Analytics, and Others), Industry Vertical (BFSI, Government, IT and Telecom, Manufacturing, Healthcare, Retail, Energy and Utilities, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6059
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Market Overview:

The global security information and event management (SIEM) market size reached US$ 5.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.0 Billion by 2032, exhibiting a growth rate (CAGR) of 10% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 5.8 Billion
Market Forecast in 2032
US$ 14.0 Billion
Market Growth Rate 2024-2032 10%


Security information and event management (SIEM) refers to the process of aggregating, storing, and analyzing several events that are generated through the technological infrastructure of organizations. It is commonly utilized for log management and reporting, threat intelligence, security analytics, behavior profiling, and database management. Event discovery and correlation enhance the speed of network event monitoring by consolidating error logs and alerts into a unified solution. As a result, SIEM is widely employed across numerous industries, such as BFSI, IT and telecom, healthcare, retail, energy and utilities, etc.

Security Information and Event Management (SIEM) Market

Security Information and Event Management (SIEM) Market Trends:

The growing need for advanced security solutions that help organizations to recognize potential threats and vulnerabilities is primarily driving the global security information and event management market. In addition to this, the widespread adoption of SIEM for the segregation of threat alerts based on priority, triaging, and automated response is also catalyzing the market growth. Furthermore, the increasing focus on comprehensive IT governance policies, such as GDPR (General Data Protection Regulation), and compliance with the regulatory framework is augmenting the global market. Apart from this, the rising penetration of cloud-based technology to simplify digital banking processes and reduce associated risks with on-premises security solutions is further creating a positive outlook for the SIEM market. Moreover, the emerging popularity of remote working models, SaaS applications, and the BYOD (Bring Your Own Device) trend is stimulating the requirement for network visibility to mitigate risks from outside the traditional network perimeter. This, in turn, is acting as another significant growth-inducing factor. Beside this, the escalating demand for actionable intelligence to minimize data loss and assist in the prioritization of network-based paradigms is also fueling the SIEM market. Additionally, the introduction of next-gen SIEM solutions integrated with powerful Security Orchestration, Automation, and Response (SOAR) capabilities that handle complex threat identification and incident response protocols in significantly less time than physical teams is projected to drive the global security information and event management market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global security information and event management (SIEM) market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, deployment mode, organization size, application and industry vertical.

 Breakup by Component:

Security Information and Event Management (SIEM) Market 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
     

Breakup by Region:

Security Information and Event Management (SIEM) Market 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
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Deployment Mode, Organization Size, Application, Industry Vertical, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global Security Information and Event Management (SIEM) market was valued at US$ 5.8 Billion in 2023.

We expect the global Security Information and Event Management (SIEM) market to exhibit a CAGR of 10% during 2024-2032.

The growing need for advanced security solutions that assist organizations in recognizing potential threats and vulnerabilities is primarily driving the global Security Information and Event Management (SIEM) market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of remote working models resulting in the increasing demand for Security Information and Event Management (SIEM) solutions to mitigate risks from outside the traditional network perimeter.

Based on the component, the global Security Information and Event Management (SIEM) market has been segmented into solution and services. Currently, solution holds the majority of the total market share.

Based on the deployment mode, the global Security Information and Event Management (SIEM) market can be divided into on-premises and cloud-based, where on-premises currently exhibit a clear dominance in the market.

Based on the organization size, the global Security Information and Event Management (SIEM) market has been categorized into small and medium-sized enterprises and large enterprises. Currently, large enterprises account for the majority of the global market share.

Based on the industry vertical, the global Security Information and Event Management (SIEM) market can be segregated into BFSI, government, IT and telecom, manufacturing, healthcare, retail, energy and utilities, and others. Among these, the BFSI industry holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global Security Information and Event Management (SIEM) market include 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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Security Information and Event Management (SIEM) Market Report by Component (Solution, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Log Management and Reporting, Threat Intelligence, Security Analytics, and Others), Industry Vertical (BFSI, Government, IT and Telecom, Manufacturing, Healthcare, Retail, Energy and Utilities, and Others), and Region 2024-2032
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