Security Information and Event Management Market Research, By Solution (Log and Event Management, Patch Management, Firewall Security Management), Organization Size (Large Enterprise, SMEs), Service (Professional, Managed), Vertical – Global Forecast till 2027
A security information and event management is a solution used by customers and enterprises to register the log details before or after any security event. The major factors that contribute the market growth is the increasing cybercrime rates in the US and economically stable European countries. Most the businesses that function over cloud face security breach as a major challenge.
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The key players in the security information and event management market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Dell EMC (US), Hewlett Packard Enterprise Company (US), IBM Corporation (US), Logrhythm Inc (US), McAfee LLC (US), Solarwinds Inc (US), Splunk Inc (US), Symantec Corporation (US), TrendMicro Inc (Japan), Trustwave Holdings Inc (US), Assuria Ltd (UK), and TIBCO Software Inc (US).
Apart from the top key players, the other players contribute nearly 30–35 % in the security information and event management market. These include LogPoint A/S (Denmark), AlienVault Inc (US), Micro Focus International PLC (UK), Elastic NV (Netherlands), Exabeam (US), Fortinet Inc (US), Rapid7 Inc (US), ManageEngine (US), EventTracker (US), FireEye Inc (US), Graylog (US), Securonix (US)), HanSight (China), Venustech (China), Tripwire Inc (US), Comodo Group (US), and others.
The market for security information and event management is estimated to grow at a significant rate during the forecast period from 2020 to 2027. The geographical analysis of security information and event management market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
North America holds the largest market share and is expected to continue this dominance during the forecast period. Further to this, Europe closely following North America in terms of revenue generation considering Europe to be an advanced region in terms of technology and its adoption. North America has one of the highly developed IT sectors in countries like the US, there is a strong need in terms of security.
Additionally, the factors contributing to the growth in adoption of security information and event management solution in Asia-Pacific are the strict government regulations and policies regarding the data transmission. This growth is expected to increase, by end of forecast period, owing to high acceptance of cloud-based services and development in IT infrastructure.
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