GVR Report cover Security Information And Event Management (SIEM) Market Size, Share & Trends Report

Security Information And Event Management (SIEM) Market Size, Share & Trends Analysis Report By Solution (Software, Service), By Deployment (Cloud, On-premise), By Enterprise Size, By Vertical, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-089-9
  • Number of Report Pages: 100
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Report Overview

The global security information and event management (SIEM) market size was valued at USD 3.95 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 14.5% from 2023 to 2030. The growing instances of cyberattacks and data breaches across various industries, driven by the rapid growth of digital technologies and interconnected systems, have created a significant demand for security information and event management. Enterprises now face an urgent necessity to detect, analyze, and respond to cyber threats proactively to prevent any disruptions to their business operations. This demand has resulted in a substantial growth outlook for the SIEM market in the foreseeable future. SIEM technology empowers businesses to identify potentially harmful activities that can compromise their systems. It achieves this by collecting event logs from diverse sources and conducting real-time data analysis, enabling organizations to promptly take the necessary measures to mitigate risks and protect their valuable assets.

U.S. Security Information and Event Management market size and growth rate, 2023 - 2030

Further, the growing government focus on imposing stricter data protection and privacy regulations is expected to drive the growth of the security information and event management market. For instance, the Information Technology Policy (ITP) provides enterprise-level standards and guidelines for the deployment of SIEM software.

Also, the Global Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA) are some of the regulations European and American countries follow for procuring cyber security software such as SIEM technology. This increasing government initiatives towards securing IT infrastructure across various industries such as healthcare, IT & Telecom, retail, and others have emerged the need for the SIEM, driving the market growth.

The cybersecurity landscape has always been challenging with the growing adoption of evolving technologies and methods, thereby enhancing the risks of vulnerabilities and trust-based security across systems. Growing advancement of technologies, such as the adoption of machine learning and AI technology across various industry verticals of BFSI, retail, manufacturing, and IT & telecom, is anticipated to form future growth opportunities for the market.

Furthermore, the introduction of Metaverse has given rise to serious threat issues to the security and privacy of data collected from consumers, businesses, and other sources. The equipment and assets of the metaverse need to identify threats, provide security against risks, and offer users a set of completely secured devices such as VR headsets or smart glasses. The transformation of industries and growing digitalization has formed future growth scope for the SIEM market.

However, the implementation and management of SIEM technology require highly skilled personnel with expertise in network architecture, security operations, and log analysis. Organizations having lack of skilled workforce are expected to face challenges in deploying the SIEM solution effectively, integrating them with specific systems, and operating them to fulfill the required needs of the businesses.

This is anticipated to form future challenges thereby hampering the growth of the security information and event management market. Moreover, the high implementation and maintenance cost associated with the procurement of SIEM technology can be a challenging factor among small and medium-sized enterprises, having low budget structures, thereby restraining the SIEM market growth.

Solution Insights

The software segment accounted for the largest revenue share of over 65.1% in 2022. Security information and event management software enables organizations to detect, respond to, and mitigate cyber-attacks such as ransomware, malware, and data breaches by centralizing event data and offering real-time data analysis. Owing to the benefit of SIEM technology, businesses are heavily investing in these software for securing and protecting the data stored across various ecosystems, thereby fueling the demand for the market. Further, organizations are subject to following various rules and regulations supporting cybersecurity norms; as a result, driving the SIEM market’s growth.

The services segment is expected to grow at the fastest CAGR of 15.5% over the forecast period. The deployment and maintenance of SIEM software involve a resource-sensitive and complex process requiring a highly technical skilled workforce. To overcome future challenges in deploying SIEM software, many organizations are inclined towards procuring security information and event management services that specialize in implementing, configuring, and managing SIEM software. The SIEM services offered are widely scalable and flexible that can be adapted to the changing needs of the organizations.

Deployment Insights

The cloud-based segment accounted for a market share of 55.1% in 2022. The low deployment costs associated with the deployment of cloud-based SIEM solution is expected to emerge the need for cloud-based SIEM. The on-premise deployment involves upfront costs related to purchasing and maintaining hardware and software infrastructure. Furthermore, the cloud-based SIEM solution offers complete global coverage and availability of data which makes them ideal for enterprises having a wide data storage ecosystem.

The on-premise segment is expected to grow at the highest CAGR of 12.8% during the forecast period. The on-premise SIEM solution offers enhanced security and control over the data stored in the organization. The on-premise platform enables the organization to have complete control over its SIEM platform, making them tailor the tool based on the business requirements. However, lack of functionality & flexibility and high installation & maintenance cost are some of the features expected to hamper the growth of the segment over the forecast period.

Enterprise Size Insights

The large enterprise segment holds the largest revenue share of more than 53.0% in 2022. In recent years, large enterprises have experienced significant cybersecurity breaches as a result of their increasing reliance on edge computing, smart systems, digitalization, and Internet of Things (IoT) technology. To address this critical issue, SIEM technology emerges as a crucial solution, providing real-time monitoring and correlation of activities throughout the enterprise network.

This capability enables large enterprises to swiftly detect and respond to potential threats effectively. Furthermore, SIEM technology plays a vital role in identifying and mitigating insider risks within large enterprises. By analyzing user activity, privileged access, and data exfiltration access, SIEM facilitates the detection of any suspicious or unauthorized actions by insiders. This proactive approach empowers organizations to take necessary measures to prevent potential security breaches and safeguard their sensitive data and assets.

The Small & Medium Enterprise (SME) segment is expected to witness the fastest CAGR of 15.2% during the forecast period. Small enterprises are also as immune to cyber threats as large enterprises. Small & medium enterprises have less stringent technologies that help them mitigate and identify cyber threats. This makes it easier for the attackers to target small & medium organizations. Some of the common cyber threats to such businesses are malware attacks, phishing attacks, ransomware, and insider threats, among others. SIEM solution offers such organizations centralized data log management, allowing them to create a centralized security monitoring and holistic view of the organization structure.

Vertical Insights

The IT and telecom segment accounts for the largest market share of 19.9% in 2022. The IT and telecom industries handle a substantial amount of client data, including financial and personally identifiable information (PII). It is crucial to safeguard this data from hacks, unauthorized access, and insider threats. Further, cybercriminals frequently target the IT and telecom industries because of the possibility for financial gain and the availability of valuable information.

These industries are exposed to a variety of dangers, including insider threats, distributed denial-of-service (DDoS) attacks, ransomware, and malware. SIEM software assist in quickly identifying and responding to security problems, lowering the risk of data breaches, and preserving client privacy. This is expected to surge the demand for the security information and event management (SIEM) market across the IT & Telecom sector.

Global Security Information and Event Management market share and size, 2022

The government & defense segment is expected to grow at the fastest CAGR of 15.8% over the forecast period. Critical infrastructure, such as electricity grids, transportation systems, and communication networks, is the responsibility of the public and defense sectors. Cyber-attacks that could interrupt crucial services and jeopardize national security are aimed squarely at these systems. SIEM software offer in-the-moment monitoring, alerting, and incident response capabilities to assist safeguard vital infrastructure from online dangers and guarantee business continuity.

Regional Insights

North America dominated the security information and event management (SIEM) market in 2022 with a revenue share of 32.7%. North America is one of the most highly affected regions by cyber threats across the globe. This is due to the presence of financial sectors, critical infrastructure, and shared opportunities, including private-public partnerships forming a more resilient cyber ecosystem. The regional governments are focusing on strengthening the regulations and policies to overcome cyber threats across the countries.

Security Information And Event Management Market Trends, by Region, 2023 - 2030

For instance, the United States-Mexico-Canada Agreement (USMCA) and North American Free Trade Agreement (NAFTA) have joined together to form a single regional solution for manufacturing sectors. Furthermore, the U.S. Department of Homeland Security has detected sixteen critical sectors related to cybersecurity, including manufacturing, construction, energy, food & agriculture, chemical, healthcare, government, and others. These growing compliance and regulation policies and the number of cyber-attacks across sectors are driving the growth of the regional SIEM market.

Asia Pacific is anticipated to rise at the fastest CAGR of 16.8% over the forecast period. Organizations in the region are more vulnerable to cyber threats due to the region's growing digitalization, expanding connectivity, and increased reliance on technology. Moreover, the Internet of Things (IoT) is widely used in the Asia Pacific area, where mobile coverage is also significant. These gadgets widen the assault window and create fresh security hazards. SIEM software offer organizations the tools they need to monitor and identify these threats in real-time, assisting them in safeguarding their assets and confidential data.

Key Companies & Market Share Insights

The dominant players operating in the security information and event management market include Alert Logic; AlienVault; Exabeam; Fortinet, Inc.; IBM; LogRhythm; ManageEngine; McAfee; Micro Focus; NetWitness LLC.; Rapid7; Securonix; SolarWinds Worldwide, LLC; Splunk; and Sumo Logic. To broaden their product Solution, industry companies utilize a variety of inorganic growth tactics, such as partnerships, regular mergers, and acquisitions. For instance, in April 2023, IBM launched a new Security Radar Suite which includes SIEM, XDR/EDR, and SOAR, to boost the threat detection and response capabilities. The newly created suite is designed to streamline and speed up the experience of security analysts throughout the whole incident lifecycle. Some prominent players in the global security information and event management (SIEM) market include:

  • Alert Logic

  • AlienVault

  • Exabeam

  • Fortinet, Inc.

  • IBM

  • LogRhythm

  • ManageEngine

  • McAfee

  • Micro Focus

  • NetWitness LLC.

  • Rapid7

  • Securonix

  • SolarWinds Worldwide, LLC

  • Splunk

  • Sumo Logic

Security Information And Event Management (SIEM) Market Report Scope

Report Attribute


Market size value in 2023

USD 4.50 billion

Revenue forecast in 2030

USD 11.62 billion

Growth rate

CAGR of 14.5% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments covered

Solution, deployment, enterprise size, vertical, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa

Key companies profiled

Alert Logic; AlienVault; Exabeam; Fortinet, Inc.; IBM; LogRhythm; ManageEngine; McAfee; Micro Focus; NetWitness LLC.; Rapid7; Securonix; SolarWinds Worldwide, LLC; Splunk; Sumo Logic.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Security Information And Event Management (SIEM) Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global security information and event management (SIEM) market report based on solution, deployment, enterprise size, vertical, and region:

  • Solution Outlook (Revenue, USD Billion, 2018 - 2030)

    • Software

    • Services

  • Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

    • Cloud

    • On-premise

  • Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

    • Small And Medium-Sized Enterprises (SMEs)

    • Large enterprises

  • Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

    • BFSI

    • IT and Telecom

    • Retail & E-commerce

    • Healthcare and Life Sciences

    • Manufacturing

    • Government & Defense

    • Energy & Utilities

    • Others

  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • UAE

      • Saudi Arabia

      • South Africa

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