The Security Information And Event Management Market size is estimated at USD 9.61 billion in 2024, and is expected to reach USD 17.07 billion by 2029, growing at a CAGR of 12.16% during the forecast period (2024-2029).
Security information and event management (SIEM) tools are vital to the data security ecosystem. They aggregate data from multiple systems and analyze it to catch abnormal behavior or potential cyberattacks. They collect security data from network devices, servers, domain controllers, and more. SIEM stores normalize, aggregate, and apply analytics to that data to discover trends, detect threats, and enable organizations to investigate alerts.
The security information and event management market is fragmented and dominated by the major players. Some major market players are IBM Corporation, Splunk Inc., Fortinet Inc., LogRhythm Inc., and McAfee LLC. The various ongoing acquisitions and innovations are leading to the market's growth. In addition, SIEM providers are forming partnerships with different end-user companies and developing customized solutions to increase their market share.
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