The North America Security Information and Event Management market accounted for US$ 701.10 Mn in 2018 and is expected to grow at a CAGR of 8.9% over the forecast period 2019–2027, to account for US$ 1,492.3 Mn in 2027. Factors including growing cyber threats across industries driving the North America Security Information and Event Management market. Cybersecurity has already become a critical issue across business, industry, government and civil society; it will only grow more urgent as the online world becomes a central and underlying component of the physical world. In the last few years, cyber-attacks have affected the ease of doing businesses across many industries including BFSI, healthcare, media & entertainment, and governments. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the North America Security Information and Event Management market.
The North America Security Information and Event Management market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the North America Security Information and Event Management market further.
For instance, to fortify cybersecurity laws, the federal government is implementing various new cybersecurity laws and modifying the previous laws for an improved security environment.Some of these laws include the Cyber-Security Information Sharing Act (CISA), Cyber-security Enhancement Act of 2014, National Cyber-Security Protection Advancement Act of 2015, and Federal Exchange Data Breach Notification Act of 2015 among others.
These initiative provide various benefits to the Security Information and Event Management manufacturing companies located in the region.These initiatives are implemented to enhance the technologies that positively impact on the North America Security Information and Event Management market.
These initiative provide various benefits to the Security Information and Event Management based companies located in the region thus, increasing the growth of North America Security Information and Event Management markets. This is further expected to provide the North America Security Information and Event Management market players to cope up with the rapidly transforming industrial requirement. This initiative offers multiple benefits to the companies present in this region and thus increasing the growth of North America Security Information and Event Management market.
Based on solutions, the Log & Event Management segment is leading the North America Security Information and Event Management market.However, the Firewall Security Management segment is anticipated to grow at the highest CAGR.
Firewall security management software is another critical component of the holistic SIEM solution.This software supports the monitoring and configuration of firewalls from a centralized location on a dashboard.
The advantages offered with a firewall security management software includes automatic updates, compliance management, minimized downtime of the organization’s IT in case of any malicious attack, and continuous monitoring to ensure seamless operations. Currently, the market players are looking ahead to support North America Security Information and Event Management industry by innovating advanced technological components.
The overall North America Security Information and Event Management market size have been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America Security Information and Event Management market.
It also provides an overview and forecast for the Security Information and Event Management market based on all the segmentation provided concerning the North America region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts and key opinion leaders specializing in the Security Information and Event Management industry. Some of the players present in Security Information and Event Management market are AlienVault, DFLABS SPA, Fireeye, Inc., Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, LogRhythm, Inc., RSA Security LLC, SolarWinds Inc., Splunk Inc., and TIBCO Software Inc.
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