Global Cloud Siem Market is valued approximately USD $ million in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. The Cloud Siem also known as cloud security information and event management (SIEM) is a security solution which offers real-time monitoring and analysis of events as well as tracking and logging of security data for compliance or auditing purposes. SIEM collects data from a wide range of source across an organization’s entire network such as users, applications, assets, cloud environments, and networks. This data is further stored and analyzed in real-time, to enable IT & security team to automatically manage their network’s event log and network flow data in one centralized location.
The increasing penetration of cloud-based services worldwide and stringent security compliances and government regulations as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – in 2019, the revenue of cloud services market worldwide was estimated at USD 152.11 billion, and the revenue further increased to USD 172.11 billion by 2021. Furthermore, Strategic initiatives from leading market players such as partnership would influence the growth of Cloud Siem Market.
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For instance, in September 2021, Wipro Limited partnered with Texas, USA based Securonix, a provider of the Securonix Security Operations & Analytics Platform. Under this partnership both the players would jointly offer Securonix’s cloud-first SIEM, analytics-driven detection and automated response tools with Wipro’s global reach and cybersecurity intelligence capabilities. Moreover, in June 2022, California, USA Based Exabeam announced partnership with Google Cloud to Create Hyperscale Cloud-native SIEM and Cybersecurity Analytics Offerings. Also, growing global emergence of 5G technology coupled with rising digitization across different industries are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a cost associated with deployment of Cloud Siem and rising concern over data security impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Cloud Siem Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing concern over cybersecurity and presence of leading cloud Siem provider in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of IT sector and increasing penetration of leading market players in the region, would create lucrative growth prospects for the global Cloud Siem Market across the Asia Pacific region.
Major market players included in this report are:
Microsoft
Rapid7
IBM CORPORATION
RSA SECURITY LLC
Sumo Logic
Fishtech
NetWitness
Cybriant
NTT Global Networks.
Corporate Technologies, Inc
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component
Solution
Services
By Deployment Model
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprises
SMEs
By End Use Industry
BFSI
Government
IT and Telecommunication
Manufacturing,
Healthcare and Life Sciences
Retail
Others
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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