Global Managed SIEM and Log Management Market – Industry Trends and Forecast to 2031

Global Managed SIEM and Log Management Market, By Component (Solution, Services), Application (Log Management and Reporting, Threat Intelligence, Security Analytics, Others (including application monitoring, behavior profiling, and database management)), Organization Size (Large Enterprises, Small and Medium Sized Enterprises), Deployment Mode (On Premise, Cloud), Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities) - Industry Trends and Forecast to 2031.

Managed SIEM and Log Management Market Analysis and Size

Managed security information and event management (SIEM) and log management are cybersecurity services that involve the outsourced monitoring, analysis, and maintenance of an organization's security event logs. In managed SIEM, a third-party provider oversees the real-time correlation of log data from diverse sources, such as network devices and applications, to detect and respond to security threats effectively. Managed log management focuses on the centralized collection, storage, and analysis of log files, aiding in compliance reporting and providing valuable insights into system activities. These services, often offered by managed security service providers (MSSPs), relieve organizations of the burden of managing these complex systems internally while benefiting from expert cybersecurity oversight.

Data Bridge Market Research analyzes that the global managed SIEM and log management market, which was USD 2,903.20 million in 2023, is likely to reach USD 6,690.50 million by 2031 and is expected to undergo a CAGR of 11.0% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

The Managed Security Information and Event Management (SIEM) and Log Management refer to the comprehensive ecosystem of outsourced services that offer proactive monitoring, analysis, and maintenance of security event logs for organizations across various industries on a global scale. This market encompasses managed services provided by specialized vendors, including Managed Security Service Providers (MSSPs), to enhance cybersecurity postures by efficiently collecting, correlating, and analyzing log data from diverse sources such as networks, applications, and devices. The key components of this market include real-time threat detection, incident response, compliance reporting, and the centralized management of logs to safeguard against cyber threats, ensure regulatory adherence, and demonstrate robust security measures.

Global Managed SIEM and Log Management Market Dynamics

Drivers

• Growing volume of data

The volume of data being generated by organizations is growing exponentially, making it difficult to manage and analyze. Managed SIEM and log management services can help organizations to collect, store, and analyze log data, which can be used to identify security threats and improve overall security posture. It is a major growth driver for the market.

• Growing Cloud adoption

The increasing adoption of cloud computing is driving the demand for managed SIEM and log management services. Cloud-based SIEM and log management solutions are easier to deploy and manage than on-premises solutions, and they can provide organizations with greater scalability and flexibility.

• Rise of remote work

The rise of remote work has created new security challenges for organizations. Managed SIEM and log management services can help organizations to monitor and secure remote devices and networks. It is propelling the demand for managed SIEM and log management services.

Opportunities

• Increasing sophistication of cyberattacks

Cyberattacks are becoming increasingly sophisticated and difficult to detect, making it essential for organizations to have a robust security infrastructure in place. Managed SIEM and log management services can help organizations to identify and respond to cyberattacks more effectively. Features such as real-time threat detection, incident response, compliance reporting, and the centralized management of logs to safeguard against cyber threats, and robust security measures can create new opportunities in the market.

Restraints

• High cost associated with Managed SIEM and log management

The cost of managed SIEM and log management services can be high, especially for small and medium-sized businesses (SMBs). This can make it difficult for some organizations to justify the expense of these services. It can prove be  a restraint for market growth.

Challenges

• Lack of awareness

Many organizations are not aware of the benefits of managed SIEM and log management services. This can make it difficult for managed SIEM and log management providers to market their services to potential customers.

This managed SIEM and log management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the variable frequency drive market contact the Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In September 2019, McAfee partnered with Oracle to enhance its SIEM capabilities over the cloud. Enterprises can complete the entire implementation within three days on the Oracle Cloud Infrastructure and offer flexible architecture to meet the ever- demands regardless of the current topology. This would enable security teams to operate more efficiently and in a cost-effective manner
• In December 2019, Rapid7 announced its cloud SIEM offering, Insight|DR's availability in the AWS marketplace. InsightlDR also offers centralized log management for searches, dashboards, and compliances

Global Managed SIEM and Log Management Market Scope

The managed SIEM and log management market is segmented on the basis of component, application, organization size, deployment mode, and vertical. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Solution
• Services

Deployment Mode

• Cloud-Based
• On-Premise

Application

• Log Management and Reporting
• Threat Intelligence
• Security Analytics
• Others (include application monitoring, behavior profiling, and database management)

Organization Size

• Large Enterprises
• Small and Medium Sized Enterprises

Vertical

• Information
• Finance and Insurance
• Healthcare and Social Assistance
• Utilities

Global Managed SIEM and Log Management Market Region Analysis/Insights

The managed SIEM and log management market is analyzed and market size insights and trends are provided by country, component, application, organization size, deployment mode, and vertical as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa.

North America is expected to dominate the market due to the fact that North American businesses and organizations, particularly in the United States, have a heightened awareness of cybersecurity threats and the importance of robust security measures. This awareness drives the adoption of advanced security solutions, including managed SIEM and log management services.

Asia-Pacific is the fastest-growing country in the market due to the fact that many countries in the Asia-Pacific region are undergoing rapid digital transformation across industries. This digital shift increases the attack surface and prompts organizations to invest in advanced cybersecurity solutions like managed SIEM and log management to protect their digital assets.

The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and Global Managed SIEM and Log Management Market Share Analysis

The managed SIEM and log management market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the managed SIEM and log management market.

Some of the major players operating in the managed SIEM and log management market are:

• SolarWinds (U.S.)
• IBM Corporation (U.S.)
• Micro Focus (U.K.)
• Rapid7 (U.S.)
• RSA (U.S.)
• McAfee (U.S.)
• Splunk (U.S.)
• ManageEngine (U.S.)
• LogRhythm (U.S.)
• Exabeam (U.S.)
• Securonix (U.S.)
• Alert Logic (U.S.)
• Sumo Logic (U.S.)
• BlackStratus (U.S.)
• AlienVault (U.S.)
• Fortinet (U.S.)
• LogPoint (U.K.)
• Gurucul (U.S.)
• Graylog (U.S.)
• Cygilant (U.S.)