KuppingerCole Analysts predicts SIEM Platforms Market to grow to 8.6 bn USD by 2025
February 2023 by KuppingerCole
Security Information and Event Management (SIEM) solutions have dominated the enterprise security market for nearly two decades , and the market volume is expected to reach 8.6 billion USD by 2025. Its Compound Annual Growth Range (CAGR) of 5.1% is a key indicator of that stability. The largest market is North America currently contributing 44.9% of the global revenue split. It is followed by EMEA with 37.3% share coverage. While APAC and LATAM are still deploying solutions in this market segment, these regions show lower adoption. However, the coverage is expected to grow in the coming years.
SIEM solutions are widely used to power security operations centers in large companies or managed security services for smaller ones. SIEMs feature centralized collection and management of security-related data across all IT systems and can apply a set of rules to help identify known malicious activities in stream of security events. In addition to providing visibility into the overall security posture, SIEMs serve as a convenient tool for compliance reporting.
Undeniably, in the last decade witnessed numerous changes in terms of data architecture, big data frameworks, public clouds, besides data regulations that change the game in storing data. The market for these modern security intelligence and automation solutions continues to grow and evolve, with solutions gaining new capabilities, merging previously standalone tools into integrated platforms, and, last but not least, changing names, definitions, and licensing policies. Although all these changes affect the industry, this market has reached a high level of maturity.