Global security information and event management market was valued at US$ 1.96 Bn in 2017 and is expected to reach US$ 4.30 Bn by 2026, at a CAGR of 10.32% during a forecast period.Security information and event management market includes products designed to collect data from different sources to identify patterns of events that might signify misuse of critical data, failure, invasion, or attack on systems.
The increasing level of sophistication in cybercrimes and rising compliance and regulatory mandates are the major driving factors for the security information and event management market growth. Security information and event management market provide better threat intelligence, better analytics, and behavior profiling which in turn aids to detect the breaches early and take required preventive actions. However, the high deployment cost and scalability of security information and event management market solutions 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 insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding security information and event management market dynamics, structure by identifying and analyzing the market segments by product, enterprise size, vertical, and region and, project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTERâ€™s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in near future to a particular market segment.
The retail segment is estimated to witness highest market growth owing to increasing concern over the security of e-commerce data and in-store financial and personal information about customers. BFSI is also one of the largest consumers of security information and event management products, followed by IT & telecom vertical.
Large enterprises are the major consumers of security information and event management products and the market was expected to be around US$ 1.20 billion in 2017. However, a small enterprise is projected to grow at the highest growth rate during the forecast period due to its wide acceptance and augmented product offerings from the vital market players.
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North America is estimated to the largest market share in the security information and event management market owing to the advancements made in technology and rapid developments. The Asia Pacific is also having ample involvement in the global security information and event management market share due to enterprise mobility, growing penetration of smartphones, laptops, and tablets. Moreover, the development of high-speed connectivity and major rising ICT expenditure in the region.
Some of the key 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 Marketby Product
Global Security Information and Event Management Market by Enterprise 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
Trend Micro, Inc.