The global security information and event management (SIEM) market is growing significantly, at a CAGR of around 6.5% during the forecast period (2019-2025). SIEM software that analyses the security alerts and gives enterprise security from cyberattacks. The major factors promoting the growth of the market include rising concerns related to cybersecurity and privacy and rising investment in smart city projects. Cyber-attacks are increasing around the globe, and with the increasing point of access, the threat has increased quite substantially. As per the Cyber Security Breach Survey 2018, about 43% of all the firms have experienced a cyber breach in 2018. Medium and large businesses were likely to have experienced more number of cyber breaches. In addition, the increasing adoption of cloud-based solutions coupled with the growing compliance and regulatory compliance are offering growth to the SIEM market. Though, the high cost associated with the SIEM solution is a major factor that restraints the growth of the SIEM market.
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Segmental Outlook
The SIEM market is classified on the basis of the deployment model, solution, and vertical. Based on the deployment model, the market is bifurcated into cloud-based and on-premises. Based on the solution, the market is segmented into log and event management, security analytics, threat intelligence, and others. The solutions segment is further segmented into log and event management, security analytics, threat intelligence, and others. Based on vertical, the market is segregated into BFSI, government, IT & telecom, healthcare, and others.
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Global SIEM market to be driven by the significant deployment of the cloud-based solution
The cloud-based SIEM is estimated to project a considerable CAGR during the forecast period. The rise in the demand for cloud-based services is further projected to enhance the demand for SIEM services in enterprises that further provide a significant opportunity to the market. Further, with the increasing amount of data generated through IoT, many enterprises have shifted their data to the cloud storage by choosing service providers. Various factors can influence the adoption of cloud-based services by SMEs such as organization competitiveness and management strategies. The SMEs are adopting cloud services to enhance flexibility and scalability of their business performance, and to lower the cost of operations.

Regional Outlook
The global SIEM market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to share significantly in the global SIEM market. Major economies which will contribute to the market are the US and Canada. The US has a well-established IT infrastructure, the presence of a number of IT enterprises, which leads to a number of cyberattacks. The high adoption of cloud-based applications in the Americas has led to a dramatic increase in the number of cyberattacks. The large enterprises are adopting advanced cybersecurity technologies and are deploying SIEM solution.

Asia-Pacific is expected to propel with a considerable growth rate in the global market
Asia-Pacific is expected to project a considerable CAGR in the global SIEM market during the forecast period. This growth can be attributed to a significant increase in cyberattacks cases during the last couple of years. Digitalization in developing countries such as India and China enabled them as honey-pots for attackers. The presence of a strong IT industry in India and China is one of the major factors that are driving the growth of the market. In Asia-Pacific, China has certain major cyber regulations that encourage several organizations to adopt cybersecurity strategies for the protection of their data. This, in turn, offers a growth opportunity to the companies operating in the SIEM market.

Market Players Outlook
The key players in the SIEM market are contributing significantly by providing advanced technology-based products and expanding their geographical presence across the globe. The key players operating in the global SIEM market include LogRhythm, Inc., ManageEngine, McAfee, LLC, Micro Focus International PLC, Rapid7 LLC, Microsoft Corp., SolarWinds Worldwide, LLC, and Splunk Inc. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. For instance, in February 2019, Microsoft Corp. launched Azure Sentinel, a cloud-based SIEM for enterprises. This will enhance the company’s position in the global SIEM market.

The Report Covers
Market value data analysis of 2018 and forecast to 2025.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global SIEM market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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