Overview and Scope
Managed security information and event management (SIEM) and log management are cybersecurity solutions that combine security information and event management (SIEM) capabilities with log management functionalities. These integrated solutions help organizations proactively manage security risks and respond effectively to cyber threats.
Sizing and Forecast
The managed security information and event management (SIEM) and log management market size has grown rapidly in recent years. It will grow from $2.98 billion in 2023 to $3.33 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to need for continuous monitoring and auditing of security events, need for centralized security management across multiple locations, increasing demand for real-time threat detection and response, growing awareness of the importance of security, growing demand for managed security services.
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Segmentation & Regional Insights
The managed security information and event management (siem) and log management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Application: Log Management And Reporting, Threat Intelligence, Security Analytics, Other Applications
4) By Organization Size: Large Enterprises, Small And Medium Sized Enterprises
5) By Vertical: Information, Finance and Insurance, Healthcare and Social Assistance, Utilities
North America was the largest region in the managed security information and event management (SIEM) and log management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed security information and event management (siem) and log management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The emergence of remote work is expected to propel the growth of the managed security information and event management (SIEM) and log management market going forward. Remote work refers to the practice of performing job tasks and responsibilities from a location outside of a traditional office, often utilizing technology and online communication tools for collaboration. Managed SIEM and log management solutions provide remote workforces with the necessary cybersecurity visibility, threat detection capabilities, and compliance management tools to ensure secure and compliant remote work operations. For instance, according to the Bureau of Labor Statistics, a US-based government agency, 33% of establishments increased telework for some or all employees during the pandemic in 2021. Further, according to the Bureau of the Census, a US-based Federal Statistical System, the proportion of individuals primarily working from home increased threefold to 17.9% in 2021 from 5.7% two years prior. Therefore, the emergence of remote work is driving the growth of the managed security information and event management (SIEM) and log management market.
Key Industry Players
Major companies operating in the managed security information and event management (siem) and log management market report are Amazon.com Inc., Microsoft Corporation, Verizon Communications Inc., NTT Corporation, Dell Technologies, International Business Machines Corporation, Cisco Systems Inc., AT&T Cybersecurity, Capgemini SE, Wipro Limited, Palo Alto Networks, Fortinet Inc., Symantec Corporation , Optiv Security Inc., UNISYS Corporation, McAfee LLC, Trend Micro Inc., TIBCO Software Inc., FireEye Inc., RSA Security LLC, Trustwave Holdings Inc., Sumo Logic Inc., Securonix, Redscan Cyber Security Limited, Clearnetwork Inc.
The managed security information and event management (siem) and log management market report table of contents includes:
1. Executive Summary
- Managed Security Information And Event Management (SIEM) And Log Management Market Characteristics
- Managed Security Information And Event Management (SIEM) And Log Management Market Trends And Strategies
- Managed Security Information And Event Management (SIEM) And Log Management Market – Macro Economic Scenario
- Global Managed Security Information And Event Management (SIEM) And Log Management Market Size and Growth
.
32. Global Managed Security Information And Event Management (SIEM) And Log Management Market Competitive Benchmarking - Global Managed Security Information And Event Management (SIEM) And Log Management Market Competitive Dashboard
- Key Mergers And Acquisitions In The Managed Security Information And Event Management (SIEM) And Log Management Market
- Managed Security Information And Event Management (SIEM) And Log Management Market Future Outlook and Potential Analysis
- Appendix
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