The Managed Security Information And Event Management (SIEM) And Log Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Managed Security Information And Event Management (SIEM) And Log Management Global Market Report 2024, The managed security information and event management (SIEM) and log management market size is expected to see rapid growth in the next few years. It will grow to $5.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to growing volume of data, growing cloud adoption, rise of remote work, increasing sophistication of cyberattacks, growing adoption of cloud-based services and applications. Major trends in the forecast period include cyber insurance partnerships, partnerships and alliances, technological innovation, integration with it service management ,customer education initiatives.
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.
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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
Major companies operating in the managed security information and event management (SIEM) and log management markets are developing innovative products such as Cisco XDR for extended detection and response. Cisco XDR (Extended Detection and Response) is a cybersecurity solution that integrates and analyzes data from various sources across an organization’s network, endpoints, cloud environments, and applications to detect and respond to cyber threats more effectively. For instance, in April 2023, Cisco Systems Inc., a US-based digital communications technology corporation launched Cisco XDR. XDR solutions go beyond traditional SIEM (Security Information and Event Management) by providing advanced analytics, machine learning, and automation capabilities to correlate and prioritize security alerts, identify complex threats, and orchestrate response actions across the entire security infrastructure. Cisco’s XDR offering includes Cisco SecureX, which integrates XDR capabilities with other security products to provide a unified security platform for threat detection, investigation, and response.
The managed security information and event management (siem) and log management market report table of contents includes:
1. Executive Summary
2. Managed Security Information And Event Management (SIEM) And Log Management Market Characteristics
3. Managed Security Information And Event Management (SIEM) And Log Management Market Trends And Strategies
4. Managed Security Information And Event Management (SIEM) And Log Management Market – Macro Economic Scenario
5. Global Managed Security Information And Event Management (SIEM) And Log Management Market Size and Growth
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26. South America Managed Security Information And Event Management (SIEM) And Log Management Market
27. Brazil Managed Security Information And Event Management (SIEM) And Log Management Market
28. Middle East Managed Security Information And Event Management (SIEM) And Log Management Market
29. Africa Managed Security Information And Event Management (SIEM) And Log Management Market
30. Managed Security Information And Event Management (SIEM) And Log Management Market Competitive Landscape And Company Profiles
Top Major Players:
- Amazon.com Inc
- Microsoft Corporation
- Verizon Communications Inc
- NTT Corporation
- Dell Technologies
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