U.S (New York) – New research study titled “Security Information and Event Management Market ” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
Security information and event management (SIEM) is a combination of security information management (SIM) and security event management (SEM). It is an approach toward security management that provides real-time analysis of the security alerts by applications and network hardware. It deals with correlation of events, real-time monitoring, console view, and notifications. SIEM has the capability of data aggregation, alert production, correlation, pattern detection, forensic analysis, and others. It eliminates threats at a faster speed with instantaneous detection of suspicious activities and automatically responds to compliance and mitigation.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The global SIEM market is attributed to regulatory compliance management such as the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), and the Sarbanes-Oxley Act (SOX). Rise in concerns over IT security has urged organizations to seek more capable defense system. In addition, growth in adoption of Bring Your Own Devices (BYOD) and enterprise mobility drive the growth of the global SIEM market. Next-generation SIEM systems for anomaly detection are expected to offer growth opportunities for the SIEM technology in the near future. However, high cost of ownership of the SIEM, complexity of SIEM products, and inconvenience in demonstration of the return of investments (ROI) for network and IT administrators hamper the growth of global SIEM industry.
The global SIEM market is segmented based on product, enterprise size, vertical, and geography. Based on product, it is divided into solution and services. As per enterprise size, it is classified into large, medium, and small enterprise. Based on vertical, the global SIEM industry is categorized into banking, financial services, and insurance (BFSI); government; IT & telecom; healthcare; retail; utilities; and others. Based on geography, itis studied across four regions, including North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS
In-depth analysis of the global SIEM market and dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the security information and event management market and provides a clear understanding of the factors that influence the market entry and expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analyses of the trends, sub-segments, and key revenue pockets are provided.
Detailed analyses of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
The key players profiled in the report are as follows:
Dell EMC
Hewlett Packard Enterprise Company
IBM Corporation
LogRhythm, Inc.
McAfee LLC.
SolarWinds, Inc.
Splunk, Inc.
Symantec Corporation
Trend Micro, Inc.
Trustwave Holdings Inc
KEY MARKET SEGMENTS
By Product
Solution
Services
By Enterprise Size
Large Enterprise
Medium Enterprise
Small Enterprise
By Vertical
BFSI
Government
IT & Telecom
Healthcare
Retail
Utilities
Others
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
Australia
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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