North America Security Information and Event Management Market Forecast to 2030
North America Security Information and Event Management Market Forecast to 2030 – Regional Analysis – by Component (Solution and Services), Deployment Mode (On-Premise and Cloud), Enterprise Size (Large Enterprise and SMEs), and End User (IT and Telecommunication, BFSI, Government, and Others)
$2,840 – $4,440
- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
- Reviews (0)
Description
Integration of SIEM Solutions with Predictive Analytics Fuels North America Security Information and Event Management Market
SIEM systems need to advance to keep up with the more sophisticated threats. Predictive analytics and machine learning might aid enterprises in avoiding cyber assaults. To predict future events based on historical data, predictive analytics employs statistical modeling, data mining methods, and machine learning. By identifying patterns in data, businesses use it to detect dangers and data breach opportunities. Predictive analytics is mainly concerned with the identification and understanding of both recognized and unrecognized cyberattack patterns. This capacity is anticipated to significantly improve the effectiveness of quickly recognizing concealed threats, make it possible to find attackers, and even predict upcoming assaults with improved accuracy and a lower false positive rate. Organizations might strengthen their cybersecurity defenses and create a safer and more secure digital environment by utilizing the power of security analytics. Network detection and response (NDR) and user and entity behavior analytics (UEBA) are two excellent instances of predictive analytics at action in SIEM solutions. For instance, in March 2022, LogPoint announced the general availability of LogPoint Converged SIEM. The company stated that the integrated solutions offered managed security service providers with a single platform for threat detection and response. According to LogPoint, the entire system integrates threat detection and response across infrastructure, assets, endpoints, cloud platforms, and apps. In addition, customer data in Converged SIEM is housed in the US or the European Union in accordance with customers’ compliance and privacy requirements, according to LogPoint. In January 2023, Gurucul, a pioneer in next-generation SIEM, UEBA, XDR, and identity and access analytics, declared that its next-generation SIEM product-Gurucul Next-Gen SIEM-has won the “CyberSecured” award in the category of security and automation response. The platform is praised for accelerating training through open and transparent models, cutting threat detection time, reducing human work through automation, and enhancing analyst productivity. Further, organizations can identify potential risks before they materialize and remain competitive by employing machine learning algorithms to evaluate data. Predictive analytics based SIEM solutions have numerous advantages over conventional SIEM, including earlier threat identification, improved accuracy, higher efficiency, and scalability. Thus, the integration of SIEM solutions with predictive analytics is anticipated to fuel the market growth during the forecast period.
North America Security Information and Event Management Market Overview
The US, Canada, and Mexico are major countries in North America. North America is one of the most heavily impacted regions in the world by cyberattacks. This is due to the prominent presence of financial sectors, essential infrastructure, and shared opportunities, such as private-public partnerships, all of which contribute to a more robust cyber ecosystem. Regional governments concentrate on enhancing legislation and policies to combat cyber risks in their countries. For example, the United States-Mexico-Canada Agreement (USMCA) and the North American Free Trade Agreement (NAFTA) have merged to produce a single regional solution for the manufacturing sector. Furthermore, the Department of Homeland Security has identified 16 important cybersecurity sectors, including manufacturing, construction, energy, food and agriculture, chemical, healthcare, government, and others. The expanding compliance and regulation rules, as well as the number of cyberattacks across sectors, are propelling the need for regional security information and event management.
Cyberattacks against traditional security operations are becoming increasingly common, producing reputational damage, financial impact, and operational outages. Thus, several players in North America are expanding in security information and event management. For instance, in July 2023, Kyndryl significantly increased the services it provides to allow business customers to swiftly detect, effectively respond to, and recover from cyberattacks. Thus, the expansion of such players in the region propels the growth of the security information and event management market.
North America Security Information and Event Management Market Revenue and Forecast to 2030 (US$ Million)
North America Security Information and Event Management Market Segmentation
The North America security information and event management market is segmented into component, deployment mode, enterprise size, end user, and country.
Based on component, the North America security information and event management market is bifurcated into software and services. The software segment held a larger share of the North America security information and event management market in 2022.
In terms of deployment mode, the North America security information and event management market is bifurcated into cloud and on-premise. The cloud segment held a larger share of the North America security information and event management market in 2022.
Based on enterprise size, the North America security information and event management market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger share of the North America security information and event management market in 2022.
Based on end user, the North America security information and event management market is segmented into IT and telecommunication, BFSI, healthcare, government, and others. The IT and telecommunication segment held the largest share of the North America security information and event management market in 2022.
By country, the North America security information and event management market is segmented into the US, Canada, and Mexico. The US dominated the North America security information and event management market in 2022.
AT&T Inc; International Business Machines Corp; LogRhythm Inc; SolarWinds Worldwide, LLC; Splunk Inc; Fortinet Inc; Zoho Corporation Pvt Ltd; Logpoint AS; Exabeam Inc; and Logsign Inc are some of the leading companies operating in the North America security information and event management market.
Summary Info
| Industry: | |
|---|---|
| Pricing options: | |
| Geographical coverage: | |
| Year of Publication: |
According to the Research Team research, the North America security information and event management market was valued at US$ 1,782.47 million in 2022 and is expected to reach US$ 3,957.88 million by 2030, registering a CAGR of 10.5% from 2022 to 2030. Rise in cybersecurity incidents, surge in need for modern security solutions to manage and monitor high volume of security alerts and rise in popularity of SaaS model are among the critical factors attributed to the North America security information and event management market expansion.
Cyber threats are evolving continuously; hence, many firms are developing a strategy for data protection and providing the latest security solutions. Ransomware attacks, phishing schemes, and insider threats are a few examples of cybersecurity attacks that could lead to data breaches. Businesses must employ cutting-edge security measures to safeguard their sensitive data and digital assets as hackers become more expert and diverse in their approaches. For instance, according to a 2023 IBM report, in 2023, the average cost of a data breach is likely to record an all-time high of US$ 4.45 million. According to a 2023 report by AAG, there was a 358% rise in cyberattacks in 2020 as compared to 2019. Investment fraud was the most expensive type of cybercrime in 2022, with an average loss of US$ 70,811 per victim. Globally, the number of cyberattacks surged by 125% between 2020 and 2021, and in 2022, the threat posed by these attacks to persons and organizations persisted. As per “The Global Risks Report 2022” from the World Economic Forum, cybersecurity safeguards put in place by organizations, governments, and people are becoming increasingly ineffective with the advanced knowledge of hackers to surpass them. For instance, in 2021, 847,376 complaints were filed, according to the FBI’s Internet Crime Complaint Center. Overall, more than US$ 6.9 billion in losses resulted from the allegations. In 2022, phishing attempts grew by 61% as compared to 2021, according to SlashNext’s “2022 State of Phishing” study. The Q3 of 2022 witnessed a record-breaking 3 million phishing attacks, as per the Anti-Phishing Working Group (APWG), making it the worst quarter recorded by the organization. The rise in cybersecurity attacks generates the need for an integrated security solution, updating organizations on trending threats and proactively defending against potential attacks and adversaries. Security information and event management (SIEM) solutions are essential for preserving an organization’s cybersecurity infrastructure. The system collects and examines enormous amounts of security-related data from numerous sources within the IT architecture of an organization. Thus, the rise in cybersecurity incidents drives the demand for SIEM solutions across the globe.
On the contrary, lack of skilled personnel and increased complexity of managing SIEM solutions and high cost of implementation hampers the growth of North America security information and event management market.
Based on component, the North America security information and event management market is bifurcated into solution and services. The solution segment held 71.4% share of North America security information and event management market in 2022, amassing US$ 1,273.45 million. It is projected to garner US$ 2,880.45 million by 2030 to expand at 10.7% CAGR during 2022-2030.
In terms of deployment mode, the North America security information and event management market is bifurcated into cloud and on-premise. The cloud segment held 84.4% share of North America security information and event management market in 2022, amassing US$ 1,504.03 million. It is projected to garner US$ 3,426.62 million by 2030 to expand at 10.8% CAGR during 2022-2030.
Based on enterprise size, the North America security information and event management market is bifurcated into large enterprise and SMEs. The large enterprise segment held 79.9% share of North America security information and event management market in 2022, amassing US$ 1,423.96 million. It is projected to garner US$ 3,113.60 million by 2030 to expand at 10.3% CAGR during 2022-2030.
Based on end user, the North America security information and event management market is segmented into IT and telecommunication, BFSI, healthcare, government, and others. The IT and telecommunication segment held 39.5% share of North America security information and event management market in 2022, amassing US$ 704.65 million. It is projected to garner US$ 1,658.84 million by 2030 to expand at 11.3% CAGR during 2022-2030.
By country, the North America security information and event management market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.6% share of North America security information and event management market in 2022. It was assessed at US$ 1,455.20 million in 2022 and is likely to hit US$ 3,285.60 million by 2030, exhibiting a CAGR of 10.7% during 2022-2030.
Key players operating in the North America security information and event management market are AT&T Inc; International Business Machines Corp; LogRhythm Inc; SolarWinds Worldwide, LLC; Splunk Inc; Fortinet Inc; Zoho Corporation Pvt Ltd; Logpoint AS; Exabeam Inc; and Logsign Inc, among others.
In June 2023, Vertek Corporation partnered with AT&T. The partnership enables Vertek to use the USM Anywhere platform from AT&T Cybersecurity as a component of its 24/7/365 Security Operations Center, a comprehensive, multi-layered cybersecurity solution. It comprises real-time intrusion detection, monitoring and response to detection, thorough vulnerability scanning, behavioral monitoring, SIEM, and log management to offer customers unrivaled security against a constantly evolving threat landscape.
In April 2023, Arete and AT&T partnered with each other. Through the partnership, Arete’s clients can combine the curated threat information of Arete with the strength of AT&T’s USM Anywhere SIEM Platform to deliver an additional layer of protection throughout their environment.
In March 2020, AT&T Cybersecurity partners with reseller Binary Defense. The partnership led the AT&T Cybersecurity global partner community as a top reseller of the AlienVault Unified Security Management (USM) solution, which is a Security Information and Event Management (SIEM) offering.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in North America security information and event management market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Security Information and Event Management Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Service Providers
4.2.2 End User Industry
4.2.3 List of Vendors in Value Chain
5. North America Security Information and Event Management Market – Key End User Dynamics
5.1 Security Information and Event Management Market – Key End User Dynamics
5.2 Market Drivers
5.2.1 Rise in Cybersecurity Incidents
5.2.2 Surge in Need for Modern Security Solutions to Manage and Monitor High Volume of Security Alerts
5.2.3 Rise in Popularity of SaaS Model
5.3 Market Restraints
5.3.1 Lack of Skilled Personnel and Increased Complexity of Managing SIEM Solutions
5.3.2 High Cost of Implementation
5.4 Market Opportunities
5.4.1 Increasing Need for Monitoring Compliance Standards in Organizations
5.4.2 Rising Need for Threat Monitoring and Detection in Changing Retail Industry
5.5 Future Trends
5.5.1 Integration of SIEM Solutions with Predictive Analytics
5.6 Impact of Drivers and Restraints:
6. Security Information and Event Management Market – North America Market Analysis
6.1 North America Security Information and Event Management Market Revenue (US$ Million), 2020 – 2030
6.2 North America Security Information and Event Management Market Forecast and Analysis
7. North America Security Information and Event Management Market Analysis – Component
7.1 Solution
7.1.1 Overview
7.1.2 Solution Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services Market, Revenue and Forecast to 2030 (US$ Million)
8. North America Security Information and Event Management Market Analysis – Deployment Mode
8.1 Cloud
8.1.1 Overview
8.1.2 Cloud Market Revenue and Forecast to 2030 (US$ Million)
8.2 On-Premise
8.2.1 Overview
8.2.2 On-Premise Market Revenue and Forecast to 2030 (US$ Million)
9. North America Security Information and Event Management Market Analysis – Enterprise Size
9.1 Large Enterprise
9.1.1 Overview
9.1.2 Large Enterprise Market Revenue and Forecast to 2030 (US$ Million)
9.2 SMEs
9.2.1 Overview
9.2.2 SMEs Market Revenue and Forecast to 2030 (US$ Million)
10. North America Security Information and Event Management- End User
10.1 IT and telecommunication
10.1.1 Overview
10.1.2 IT and telecommunication Market Revenue and Forecast to 2030 (US$ Million)
10.2 BFSI
10.2.1 Overview
10.2.2 BFSI Market Revenue and Forecast to 2030 (US$ Million)
10.3 Healthcare
10.3.1 Overview
10.3.2 Healthcare Market Revenue and Forecast to 2030 (US$ Million)
10.4 Government
10.4.1 Overview
10.4.2 Government Market Revenue and Forecast to 2030 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
11. North America Security Information and Event Management Market – Country Analysis
11.1 North America
11.1.1 North America Security Information and Event Management Market Overview
11.1.2 North America Security Information and Event Management Market, By Key Country – Revenue 2022 (US$ Mn)
11.1.3 North America Security Information and Event Management Market Revenue and Forecasts and Analysis – By Country
11.1.3.1 North America Security Information and Event Management Market Revenue and Forecasts and Analysis – By Country
11.1.3.2 US Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.3.2.1 US Security Information and Event Management Market Breakdown by Component
11.1.3.2.2 US Security Information and Event Management Market Breakdown by Deployment Mode
11.1.3.2.3 US Security Information and Event Management Market Breakdown by Enterprise Size
11.1.3.2.4 US Security Information and Event Management Market Breakdown by End User
11.1.3.3 Canada Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.3.3.1 Canada Security Information and Event Management Market Breakdown by Component
11.1.3.3.2 Canada Security Information and Event Management Market Breakdown by Deployment Mode
11.1.3.3.3 Canada Security Information and Event Management Market Breakdown by Enterprise Size
11.1.3.3.4 Canada Security Information and Event Management Market Breakdown by End User
11.1.3.4 Mexico Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.3.4.1 Mexico Security Information and Event Management Market Breakdown by Component
11.1.3.4.2 Mexico Security Information and Event Management Market Breakdown by Deployment Mode
11.1.3.4.3 Mexico Security Information and Event Management Market Breakdown by Enterprise Size
11.1.3.4.4 Mexico Security Information and Event Management Market Breakdown by End User
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 AT&T Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 International Business Machines Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 LogRhythm Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 SolarWinds Worldwide, LLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Splunk Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Fortinet Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Zoho Corporation Pvt Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Logpoint AS
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Exabeam Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Logsign Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 2. North America Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. North America Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 4. Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Million) – Deployment Mode
Table 5. Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Million) – Enterprise Size
Table 6. Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Million) – End User
Table 7. North America Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 8. US Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 9. US Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Mode
Table 10. US Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Enterprise Size
Table 11. US Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By End User
Table 12. Canada Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 13. Canada Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Mode
Table 14. Canada Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Enterprise Size
Table 15. Canada Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By End User
Table 16. Mexico Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 17. Mexico Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Mode
Table 18. Mexico Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By Enterprise Size
Table 19. Mexico Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn) – By End User
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 2. Ecosystem: Security Information and Event Management Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America Security Information and Event Management Market Revenue (US$ Million), 2020 – 2030
Figure 5. North America Security Information and Event Management Market Share (%) – Component, 2022 and 2030
Figure 6. Solution Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Services Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Security Information and Event Management Market Share (%) Deployment Model, 2022 and 2030
Figure 9. Cloud Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. On-Premise Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Security Information and Event Management Market Share (%) Enterprise Size, 2022 and 2030
Figure 12. Large Enterprise Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. SMEs Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Security Information and Event Management Market Share (%) End User, 2022 and 2030
Figure 15. IT and telecommunication Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. BFSI Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Healthcare Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Government Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Security Information and Event Management Market, By Key Country – Revenue 2022 (US$ Mn)
Figure 21. Security Information and Event Management Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 22. US Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. Canada Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Mexico Security Information and Event Management Market Revenue and Forecasts to 2030 (US$ Mn)
1. AT&T Inc
2. International Business Machines Corp
3. LogRhythm Inc
4. SolarWinds Worldwide, LLC
5. Splunk Inc
6. Fortinet Inc
7. Zoho Corporation Pvt Ltd
8. Logpoint AS
9. Exabeam Inc
10. Logsign Inc
You must be logged in to post a review.
Reviews
There are no reviews yet.