Security Information and Event Management Market Size & Share to See Modest Growth Through 2024
Deerfield Beach, FL -- (SBWIRE) -- 10/25/2017 -- There is an increasing number of data breach and security threat against which the data needs to be protected. For this, security information and event management market are helpful. The security information and event management market is a combination of security event management (SEM) and security information management (SIM). Security information and event management checks and monitors flow of data and identify abnormalities in the company's data system. The core job of security information and event management is log collection and event correlation, which is done through a collection of logs from the information technology infrastructure. It is mainly used in healthcare, government and IT and telecom industries to secure confidential data against breach or threat. The security providers are constantly innovating, remodeling and upgrading their existing architecture in order to increase the efficiency of the security system. There is a rapid growth in the security information and event management market due to the increasing persistent threats and cyber attacks. Security information and event management provide better threat intelligence, better analytics, and behavior profiling which in turn helps to detect the breaches early and take necessary preventive actions.
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The global security information and event management market are segmented into its solution, services, organization size, end-users, and geography. On the basis of the solution, the market is divided into firewall security management, log and event management, patch management and others. Based on services, the global security information and event management market is segregated into consulting, support and integration. On the basis of organization size, the division is seen into small and medium-sized enterprises and large enterprise. On the basis of end-user, the global security information and event management market is divided into BFSI, healthcare, government, IT and telecom, retail and hospitality, energy and utility, education and others. The security information and event management market are diversified into regions such as Latin America, North America, Europe, Asia-Pacific, and the Middle East and Africa.
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The increasing level of complexity of the cyber crimes is a major reason due to which there is a rapid growth in the security information and event management market. Other factors influencing the growth are growing compliance, regulatory mandates, advancements made in technology and increasing security awareness among the industries. However, there are also some restraining factors for the market that include scalability issues and deployment cost issues.
North America is anticipated to have the largest market share in the security information and event management market. This growth is due to the advancements made in technology and rapid developments in this region. Growth in the North American region will be followed by regions such as Asia-Pacific, Latin America, Europe and the Middle East and Africa. Asia Pacific is also having ample contribution in the global the security information and event management market share.
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Some of the major companies in the security information and event management market are LogRhythm, McAfee Inc., SolarWinds, TIBCO Software, Sumo Logic, KEYW, Hewlett-Packard Company, Dell, ArcSight, RSA, Alert Logic, Tripwire, Sensage, International Business Machines Corporation, Splunk Inc., Trustwave Holdings and EMC Corporation.