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Global Modern SIEM Market, Global, 2023–2028

Publisher Frost & Sullivan
Published Nov 19, 2024
SKU # MC19350802

Description

Global Modern SIEM Market, Global, 2023–2028


Modern SIEM is Experiencing Transformational Growth Due to the Increasing Demand for Real-time Log Analysis and Automatic Detection

The modern SIEM market is projected to grow from $6.27 billion in 2023 to $12.10 billion by 2028, reflecting a robust compound annual growth rate (CAGR) of 14.1%. This upward trend signifies organizations' growing recognition of the importance of modern SIEM solutions in enhancing their cybersecurity frameworks. With the escalation of cyberthreats in both frequency and sophistication, organizations are prioritizing comprehensive solutions that not only protect their data but also enhance their overall security posture and resilience.

The integration of advanced capabilities, such as user and entity behavior analytics (UEBA) and security orchestration, automation, and response (SOAR) within modern SIEM platforms, is a key driver of market growth. These technologies enhance threat detection accuracy and expedite incident response, providing organizations with the visibility and control required to navigate today’s complex threat landscape. The inclusion of UEBA offers deep behavioral insights, allowing the identification of insider threats and compromised accounts, while SOAR capabilities emphasize automation, streamlining response processes to reduce manual effort and alleviate the burden on security teams.

As organizations increasingly adopt these converged platforms, they benefit from a unified, automated approach that improves scalability, aligns security strategies with business objectives, and ensures compliance. The convergence of SIEM, SOAR, and UEBA positions modern SIEM as an essential solution for enterprises striving to enhance their security posture in an evolving threat environment.

Table of Contents

    • Market Definition and Scope of Analysis
    • Segmentation
    • Why is it Increasingly Difficult to Grow?
    • The Strategic Imperative 8™
    • The Impact of the Top 3 Strategic Imperatives on the Global Modern SIEM Industry
    • Competitive Environment
    • Key Competitors
    • Growth Metrics
    • Growth Drivers
    • Growth Restraints
    • Forecast Considerations
    • Revenue Forecast
    • Revenue Forecast Analysis
    • Revenue Forecast by Region
    • Revenue Forecast Analysis by Region
    • Revenue Forecast by Technology
    • Revenue Forecast Analysis by Technology
    • Revenue Forecast by Industry Vertical
    • Revenue Forecast Analysis by Industry Vertical
    • Pricing Trends and Forecast Analysis
    • Revenue Share
    • Revenue Share Analysis—Splunk
    • Revenue Share Analysis—Microsoft
    • Revenue Share Analysis—IBM
    • Revenue Share Analysis—Elastic
    • Revenue Share Analysis—LogRhythm
    • Revenue Share Analysis—Rapid7
    • Revenue Share Analysis—Fortinet
    • Revenue Share Analysis—Sumo Logic
    • Revenue Share Analysis—NetWitness
    • Revenue Share Analysis—Securonix
    • Revenue Share Analysis—OpenText
    • Revenue Share Analysis—Palo Alto Networks
    • Revenue Share Analysis—ManageEngine
    • Revenue Share Analysis—NSFOCUS
    • Revenue Share Analysis—Gurucul
    • Revenue Share Analysis—Logpoint
    • Growth Opportunity 1: SIEM Market Consolidation
    • Growth Opportunity 2: Emerging Technology Integration
    • Growth Opportunity 3: Geographic Market Shift
    • Frost & Sullivan's Global Cybersecurity End-user Survey Results
    • Pros and Cons of SIEM Solutions
    • Deciding between On-premise or MSS SIEM Solutions
    • Frost & Sullivan's Advice on Which Solution to Choose
    • Benefits and Impacts of Growth Opportunities
    • Next Steps

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