Security Information and Event Management Market Growing at a CAGR of 12.03% During 2017 to 2021

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24 Jan, 2017, 17:00 GMT

PUNE, India, January 24, 2017 /PRNewswire/ --

The analysts forecast global security information and event management market to grow at a CAGR of 12.03% during the period 2017-2021. The SaaS-based deployment model is expected to witness steady growth over the forecast period.

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The global security information and event management market report analyst says one trend in market is growing popularity of managed security service providers. Managed security services are network security services, such as managed firewall, virtual private network, intrusion detection, managed antivirus and other compliance services that are outsourced to a third-party service provider. The company providing such services is called managed security service provider (MSSP). Organizations are giving importance to the adoption of managed security services to mitigate the pressure they face in day-to-day business operations related to information security such as targeted malware, resource constraints, customer data theft, and lack of IT skilled professionals.

The following companies are the key players in the global security information and event management: IBM, Hewlett Packard, McAfee, LogRhythm, and Splunk.  Other prominent vendors in the market are: AlienVault, BlackStratus, EventTracker, Dell Technologies, Fortinet, Micro Focus, SolarWinds, Symantec, Tenable Network Security, TIBCO Software, Trustwave, and ZOHO Corp. Order a copy of Global Security Information and Event Management Market 2017-2021 research report at http://www.reportsnreports.com/purchase.aspx?name=822339.

According to the security information and event management market report, one driver in market is increased use of mobile devices. Employees are using their personal portable devices to gain access to confidential information because of the growing need for uninterrupted connectivity between corporate networks and employees. High acceptance of policies such as bring your own device (BYOD) and corporate owned personally enabled (COPE) is encouraging employees to use mobile devices such as smartphones, tablets, and laptops at the workplace.

Geographically, North America is the largest revenue generating region in the global market and occupied the biggest market share in 2016. The growing dependence on Internet and digital technologies has led to high vulnerability to cyber-attacks, especially in the government and financial sectors. The rapid rise in the number of security breaches and cyber-attacks across various industry verticals such as government, retail, and BFSI, has caused a significant loss of data and damage to the internal network of these organizations, propelling the demand for SIEM solutions.

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