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Security Information & Event Management Market Forecast (2022-2030)

Security Information and Event Management Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Deployment Mode (On-Premise and Cloud), Enterprise Size (Large Enterprise and SMEs), and End User (IT and Telecommunication, BFSI, Government, Education and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00003360
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 174
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The security information and event management market is projected to grow from US$ 9.91 billion by 2030 to US$ 4.67 billion in 2022; it is expected to expand at a CAGR of 9.80% from 2022 to 2030. The rise in adoption of cloud-based services is expected to be a key trend in the market.

Security Information and Event Management Market Analysis

The global cyber security landscape is changing rapidly. The necessity for effective cybersecurity safeguards is more important than ever in the connected world of today. Systems in the security information and event management market are a crucial part of a thorough cybersecurity strategy. Platforms in the security information and event management market combine the capabilities of security information management (SIM) with security event management (SEM). It gives businesses a consolidated platform to gather, examine, and correlate security-related data from diverse IT infrastructure sources. The security information and event management market growth is attributed to the various features offered by systems in the security information and event management market, such as real-time monitoring, threat detection, and log monitoring. IT & telecommunication and BFSI industries are the major adopters of solutions in the security information and event management market. These industries face multiple threats regarding their IT infrastructure and consumer data.

The security operation centers at various organizations need seamless solutions to streamline the threat detection processes across various platforms. For instance, in October 2022, LogRhythm announced the release of its latest Axon update. It can quickly identify potential dangers, analyze them, and take appropriate action. Security teams use Axon to automate team operations through case management based on incident response at the location.

Security Information and Event Management Market Industry Overview

Security information and event management (SIEM) is a security system that assists organizations in identifying and addressing potential security threats and vulnerabilities before they interrupt business operations. SIEM solutions assist organizational security teams in detecting abnormal user activity and using artificial intelligence (AI) to automate several manual operations associated with threat identification and incident response. SIEM software has expanded over time to include user and entity behavior analytics (UEBA), as well as other sophisticated security analytics, Artificial Intelligence (AI), and Machine Learning (ML) capabilities for detecting unusual behaviors and advanced threat indicators.

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Security Information and Event Management Market: Strategic Insights

Market Size Value inUS$ 4.67 Billion in 2022
Market Size Value byUS$ 9.91 Billion by 2030
Growth rateCAGR of 9.8% from 2022 to 2030
Forecast Period2022-2030
Historic Period2020-2021
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Security Information and Event Management Market Driver and Opportunities

Rising Number of Data Breaches Across Industry Verticals to Favor Market Growth

Organizations face a wide range of cybersecurity dangers as the average cost of a data breach rises to an all-time high of US$ 4.45 million in 2023. These dangers could lead to data breaches and range from ransomware assaults to phishing schemes and insider threats. Businesses must employ cutting-edge security solutions to safeguard their sensitive data and digital assets since cybercriminals are becoming sophisticated and their strategies are becoming more diversified. For instance, according to a 2022 report by HackerOne, over 65,000 vulnerabilities were found by ethical hackers in 2022, a 21% increase from 2021. According to a 2022 Official Cybercrime report, the cost of cybercrime would reach US$ 8 trillion in 2023 and reach US$ 10.5 trillion by 2025. The importance of protecting vast amounts of data that support new product development and innovation while also enhancing customer service grows as the number of cyberattacks rises globally. By tracking, recognizing, and analyzing incidents and events, as well as providing real-time warnings and reports, security analysts are greatly aided by solutions in the security information and event management market.

Increasing Need for a Balanced Security Approach

A balanced security approach combines and maintains three key elements: technology, procedure, and people. A delicate balance between the three is essential to achieve disciplined implementation of security plans. SIEM provides organizations with a holistic view of their security posture by centralizing and analyzing security event data, detecting possible attacks in real time, and improving incident response capabilities. It is critical in strengthening an organization's cybersecurity defense and protecting sensitive data and assets from cyber threats. Thus, the increasing need for a balanced security approach is expected to create lucrative growth opportunities for the security information and event management market.

Security Information and Event Management Market Report Segmentation Analysis

The key segments that contributed to the derivation of the security information and event management market analysis are installation and end user.

  • By component, the market is divided into solutions and services.
  • Based on deployment mode, the market is segmented into on-premise and cloud segments.
  • based on enterprise size, the market is divided into large enterprises and SMEs.
  • Based on end users, the market is divided into IT and telecommunication, BFSI, government, education, and others.

Security Information and Event Management Market Share Analysis By Geography

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

North America holds the largest global security information and event management market share. The region is home to a few of the major tech giants of the world. For instance, according to an article by BestColleges.com, more than 500,000 IT companies are based in the US, which also controls 35% of the worldwide tech market. Also, according to a report by the BC Tech Association, the tech sector was directly responsible for US$ 117 billion, or 7.1%, of Canada's economic output. The thriving IT industry, which is the major end-user of SIEM solutions, is driving the growth of the system information and event management market.

Security Information and Event Management Market Report Scope

Security Information and Event Management Market News and Recent Developments

The security information and event management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the security information and event management market are listed below:

  • Eutelsat Communications announced a partnership with Can Marine Systems, a well-known supplier of maritime systems in Asia. The partnership offers marine firms operating at sea in Asia access to next-generation security information and event management services, enhancing connectivity and capabilities. (Source: Eutelsat Communications, Press Release, September 2023)

Security Information and Event Management Market Report Coverage & Deliverables

The security information and event management market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Security Information and Event Management Market Size and Forecast (2020–2030)" provides a detailed analysis of the market covering below areas-

  • Security information and event management market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Security information and event management market trends, as well as market dynamics such as drivers, restraints, and key opportunities
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Security information and event management market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Security Information and Event Management Market
  • Detailed company profiles.
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

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to segments covered.

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

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to country scope.

Frequently Asked Questions


Which region dominated the security information and event management market in 2022?

North America is expected to dominate the security information and event management market with the highest market share in 2022.

What is the expected CAGR of the security information and event management market?

The global security information and event management market was estimated to grow at a CAGR of 9.8% during 2022 - 2030.

What would be the estimated value of the security information and event management market by 2030?

The security information and event management market size is projected to reach US$ 4.67 billion by 2030.

What is the expected CAGR of the security information and event management market?

The global security information and event management market was estimated to grow at a CAGR of 10.9% during 2023 - 2031.

What are the driving factors impacting the security information and event management market?

The rising number of data breaches across industry verticals and stringent government regulation & compliance are the major factors that drive the global security information and event management market.

What are the future trends in the security information and event management market?

The rise in the adoption of cloud-based services is a major trend in the market.

Which are the leading players operating in the security information and event management market?

AT&T Inc., International Business Machines Corp, LogRhythm Inc., SolarWinds Worldwiden LLC, Splunk Inc., Fortinet Inc., Zoho Corporation Pvt Ltd., Logpoint AS, and Exabeam Inc. are the major market players.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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