Security information and event management (SIEM) offers real-time analysis of security alerts which are generated in organizations IT infrastructure network application and hardware. SIEM refers to software and product services that combines security event management (SEM) and security information management (SIM). The risk of cyber attacks and security breaches is expected to increase in IT industry in coming years for obtaining critical information in banks and IT companies. SIEM aids to track and analyze the security with the help of functions such as SEM and SIM. These aid the enterprises to adhere to legal compliance requirements to protect its IT system in future. SIM helps to collect logs from organization’s IT infrastructure and store it in a centralized security database. SEM supports to consolidate the logs in security database and allows real time analysis of security related events for organizations and to take necessary security steps. Log is created across IT infrastructure including network devices, database, workstations and security appliances.
SIEM has come to be vital for running a business efficiently and flawlessly. The SIEM software permits its end-users to execute event forensics in case of a security breach by analyzing particular log for that event. The SIEM solution permits separating the core cause of a breach, failure, threat or any non-compliant activity. SIEM solution are being deployed by rising number of organizations not only for regulatory compliance but also for threat management by monitoring and detecting early security breach in an IT system. Currently, organizations fail to succeed in identifying the targeted attacks and compliance breaches. It can be met by improved and enhanced threat intelligence. Therefore, in order to better utilize real-time monitoring, organizations are trying to expand their SIEM deployments over a long period of time. SIEM vendors have started focusing on expansion of technology deployments with new as well as existing customer accounts and showcasing their product as a platform by offering security and application analytics.
Some of the key factors responsible for the growth of security information and event management software market in coming years include rising level of sophistication in cybercrimes and growing compliance and regulatory mandates. However, the high cost of deployment and scalability of security information and event management software may decrease the growth in revenue of security information and event management software market.
Global security information and event management software market can be segmented into solution type, verticals, and regions.; On the basis of solution type, global security information and event management software market can be segmented into log and event management, patch management and firewall security management.; On the basis of vertical, global security information and event management software market can be segmented into BFSI, IT and telecommunication, hospitality, educational institutes and government offices, energy and utility, retail and others.
Some of the key players for security information and event management software market are LogRhythm, Inc., Splunk Inc., AlienVault, Inc., IBM Corporation, Hewlett Packard Enterprise, LogPoint, Intel Security, SolarWinds, TIBCO Software, Trustwave Holdings, Inc. and Exabeam