This market study analyzes the market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Global Log Management and Reporting Security Information and Event Management market analysis report plays very essential role when it is about achieving an incredible growth in the business. It has been believed that the premium market research report is the one which is pertinent, unique, and creditable that employs proven tools and techniques to turn complex market insights into simpler version. Whether it is about renovating a business plan, preparing a presentation for a key client, or giving recommendations to an executive, Log Management and Reporting Security Information and Event Management market report will surely help to a degree.
Data Bridge Market Research analyses that the log management and reporting security information and event management (SIEM) market, valued at USD 5.18 billion in 2022, will reach 11.96 billion by 2030, growing at a CAGR of 11.03% during the forecast period of 2023 to 2030.
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Market Overview:
An approach to security management known as security information and event management (SIEM) combines security event management (SEM) and security information management (SIM) tasks into a single security management system. In order to collect security-related events from end-user devices, servers, and network equipment, as well as specialized security tools such as firewalls, antivirus software, or intrusion prevention systems (IPSes), SIEM systems hierarchically deploy multiple collection agents. Events are forwarded by the collectors to a central management console, where security analysts sort through the clutter, make connections, and rank the importance of security incidents.
Opportunities
Governance policies and compliance with the legal framework create lucrative opportunities to grow
A greater emphasis on thorough IT governance policies and adherence to the law is driving the global SIEM market. Regulations such as the Health Insurance Portability and Accountability Act (HIPPA), the Sarbanes-Oxley Act (SOX), and the Payment Card Industry Data Security Standard (PCI DSS) are primarily driving the global SIEM market. Thus, factors affect IT security spending and are anticipated to boost the SIEM market during the forecast period.
Some of the major players operating in the log management and reporting security information and event management (SIEM) market are:
- IBM (U.S.)
- McAfee, LLC (U.S.)
- Splunk Inc. (U.S.)
- SolarWinds Worldwide, LLC (Austin)
- Alert Control Technologies (U.S.)
- Logic, Inc. (Canada)
- RSA Security LLC (U.S.)
- Securonix (U.S.)
- Exabeam (U.S.)
- LogRhythm, Inc. (U.S.)
- Zoho Corporation Pvt. Ltd. (India)
- Logpoint (Denmark)
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