Security Information and Event Management Market Growth and business revolution by top players | LogRhythm, Inc., RSA Security LLC, SolarWinds Inc., Splunk Inc.

Security Information and Event Management Market to 2027 by Solution (Patch Management, Log & Event Management, Firewall Security Management, and Others); Service (Integration, Consulting, and Support); and End User (Healthcare, Energy & Utility, BFSI, Government, Retail, and Others); and Geography.

The advent of IoT has enabled each device to be connected over the internet and the rising adoptions globally would result in more than billions of devices connected over the internet. These devices are bound to generate huge amounts of data. On a global level, that data traffic rate has grown at an annual rate of more than 65% over the last five years. With increasing data transfers on the internet, the potential risks of cyber-attacks have also increased over the years. Malicious attackers have found different ways to cause inconvenience to the users of data and create a chaotic environment. A Security Information and Event Management (SIEM) takes a holistic view of the IT infrastructure of any client organization. An SIEM system is capable of detecting difference between the pre-laid rules and the reported events. This difference is configured to trigger an alarm and notify the central host regarding anomaly found.

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The number of potential vulnerabilities and large scale cyber-attacks has risen in the past few years. As a result, the cyber security continues to gain significance among leading enterprise and subsequently driving the demand for efficient and robust tools, platforms, and security solutions for their organization. Thus, over the years various market players have positioned themselves for catering to different niche market requirement. Among these, the security information and event management software solutions facilitates the organization especially their SOCs (Security Operations Center) and related corresponding teams in improving the cohesion of various technology and process security posture. The security information and event management solutions promotes a fine balance between security automation and human supervised security monitoring and response.

It is believed that the average number of cyber-attacks on the banking sector is approximately four times higher than the companies in the other industries. The BFSI sector is in dire need of integrating solutions that can counter such a threatening scenario coupled with the tighter regulations. Owing to the sensitive nature of customer’s financial data in the banking sector, the impact of breach in the BFSI arena is high and therefore needs to be taken care of. Conventional data protection doesn’t suffice the security requirements in today’s world where the cyber-threats have also evolved along with other technologies. Best practices of cyber resilience standards to reduce the likelihood of cyber-attacks on the critical business functions are being integrated into businesses.The major players operating in the market for Parcel Sortation Systems market LogRhythm, Inc., RSA Security LLC, SolarWinds Inc., Splunk Inc., TIBCO Software Inc., AlienVault, DFLABS SPA, Fireeye, Inc., Hewlett Packard Enterprise Development LP (HPE), and IBM Corporation among others.

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The report segments the global parcel sortation systems market as follows:

1.1.1 Global Security Information and Event Management Market – By Solution
Patch Management
Log & Event Management
Firewall Security Management
Others

1.1.2 Global Security Information And Event Management Market – By Service
Integration
Consulting
Support

1.1.3 Global Security Information and Event Management Market – By End User
Healthcare
Energy & Utility
BFSI
Government
Retail
Others

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