Security
information and event management (SIEM) gives a real-time
analysis of security alerts which are generated in organizations IT
infrastructure network application and hardware. SIEM refers to
software and product services which combines security event
management (SEM) and security information management (SIM). The risk
of cyber attack and security breaches is expected to increase in IT
industry in coming years for obtaining critical information in banks
and IT companies. SIEM helps to track and analyze the security with
the help of functions such as SEM and SIM. These help the
organizations to adhere to legal compliance requirements to protect
its IT system in future. SIM helps to collect logs from
organization’s IT infrastructure and store it in a centralized
security database. SEM helps to consolidate the logs in security
database and allows real time analysis of security related events for
organizations and to take necessary security steps. Log is created
across IT infrastructure including network devices, database,
workstations and security appliances.
SIEM
has become vital for running a business flawlessly. The SIEM software
permits its end-users to execute event forensics in case of a
security breach by analyzing particular log for that event. The SIEM
solution permits separating the core cause of a breach, failure,
threat or any non-compliant activity. SIEM solution are being
deployed by rising number of organizations not only for regulatory
compliance but also for threat management by monitoring and detecting
early security breach in an IT system. Currently, organizations fail
to succeed in identifying the targeted attacks and compliance
breaches. It can be met by improved and enhanced threat intelligence.
Therefore, in order to better utilize real-time monitoring,
organizations are trying to expand their SIEM deployments over a long
period of time. SIEM vendors have started focusing on expansion of
technology deployments with new as well as existing customer accounts
and showcasing their product as a platform by offering security and
application analytics.
Some
of the key factors responsible for the growth of SIEM market in
coming years include rising level of sophistication in cybercrimes
and growing compliance and regulatory mandates. However, the high
deployment cost and scalability of SIEM solutions may decrease the
growth of market.
The
SIEM market can be briefly segmented into solutions, services,
verticals and geography. The solution segment includes log and event
management, patch management and firewall security management. The
services segment includes consulting, support and integration. SIEM
finds its application in government, banking, financial services and
insurance (BFSI), telecom and IT, retail and hospitality, energy and
utility, healthcare, education and academia among others. The
segmentation in terms of geographical regions includes North America,
Asia-Pacific, Europe and Rest of the World (RoW). The SIEM market is
expected to witness entry of new players in coming years due to its
growing importance in improving security of organization IT
Infrastructure.
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