The global security information and event management (SIEM) market is projected to exhibit a CAGR of around 6.5%, during the forecast period. Data security and privacy have a significant role in enterprises that aids in preventing unauthorized access to computers, websites, and databases. However, the concerns regarding data security and privacy have been rising significantly owing to the abundant amount of unprotected data and poor cybersecurity. Data loss is a major concern for businesses of all sizes as it results in losing money and time to recover information which is vital for every business. It can disrupt the everyday operations of any business.
Browse the full report description Global Security Information and Event Management (SIEM) Market Size, Share & Trends Analysis Report by Deployment Model (On-Premises and Cloud), By Solution (Log and Event Management, Security Analytics, Threat Intelligence, and Others), By Vertical (BFSI, Government, IT & Telecom, Healthcare, and Others), and Forecast 2019-2025 at https://www.omrglobal.com/industry-reports/security-information-event-management-market
The Global Data Protection Index by Dell EMC has surveyed 2,200 IT decision-makers from 18 countries in 2018. Of these, 76% experienced a disruption and 27% experienced irreparable data loss in 2018, which was around double of 14% in 2016. However, the system downtime is a problem, the loss of data is particularly expensive. On average, 20 hours of downtime cost businesses $494,869. Further, the average data loss of 2.04 terabytes costs nearly $939,703. As it costs high to enterprises, the companies are moving towards data protection solutions for proper and reliable management of data.
For instance, on average, organizations managed 9.70 petabyte (PB) of data in 2018, which signifies an explosive growth of 569% as compared to 1.45 PB managed in 2016. Further, 92% of businesses across the globe realize the potential value of data, with 36% already monetizing it. According to the survey, the use of the public cloud has increased from 28% of the total IT environment in respondents’ organizations in 2016 to 40% in 2018. Nearly all (98%) organizations are using the public cloud as a part of data protection infrastructure. This, in turn, is expected to propel the SIEM market growth across the globe.
The major uses for data protection within the public cloud include backup/snapshot services to protect workloads developed in the public cloud using new application architectures (41%), backup of on-premises workloads/data (41%) and protecting specific SaaS apps (40%). In addition, cloud-enabled versions of on-premises data protection software to protect public cloud workloads (40%) and backup/snapshot services to protect workloads are developed in the public cloud using legacy application architectures (38%). This represents that enterprises are now recognizing the full potential of data protection, which in turn, is contributing to the increasing demand for SIEM solutions and services.
Global Security Information and Event Management Market-Segmentation
By Deployment Mode
By Solution
By Vertical
Global Security Information and Event Management Market– Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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