North America Security Information and Event Management Market Outlook and Insights by 2027

Security Information and Event Management market in North America is expected to grow from US$ 701.10 Mn in 2018 to US$ 1,492.3 Mn by the year 2027. This represents a CAGR of 8.9% from the year 2019 to 2027.

Growing cyber threats across industries is fueling the North America Security Information and Event Management market. Cyber-attacks are on the rise in both enterprises and government sector around the globe. Ever-increasing threats and evolving industry and government regulations are forcing organizations to invest heavily in security infrastructure. Cyber security has already become a critical issue across business, industry, government and civil society; it will only grow more urgent as the online world becomes a central and underlying component of the physical world. Organizations are becoming increasingly alert to cyber threats, thereby driving the Security Information and Event Management market in North America.

The reducing operational costs with the mounting popularity of automation solutions is anticipated to fuel the North America Security Information and Event Management market growth. The unprecedented increase in the volume of threats incidence coupled with the requirement for a related response, the action often consumes a significant portion of the SOC professional. Moreover, the inclusion of multiple false positive alerts and event notification further creates a challenging task for allocating the resource on high priority and sensitive alerts. As a result, the SIEM offers a viable alternative coupled with versatile benefits. For instance, the integration of efficient solution yields a significant reduction in resolving various low threat risks, segregation of alerts based on priority, triaging, and automated response considerably. These initiative by the market player are enhancing the growth of North America Security Information and Event Management market.

US is anticipated to leads the Security Information and Event Management market across the North America region through the forecast period. The growth in SIEM in the U.S. is mainly driven by factors which includes its state of being one of the best internet connected countries in the world, with around 85% of its population using internet in 2018; in addition, the country is also ranked second globally for online B2C transactions; and, the ever-increasing cybercrime costs that had reached $100 billion in the US in 2014, which is nearly one-fourth of the $445 billion, all these aspects are owing to significant growth of SIEM market. This will further propel the growth of manufacturing industry in the country thereby, accelerating the growth of Security Information and Event Management market in the U.S. This bolster the North America Security Information and Event Management market on the forecast period. The figure given below highlights the revenue share of Mexico in the North America Security Information and Event Management market in the forecast period:

Mexico Security Information and Event Management Market Revenue and Forecasts to 2027 (US$ Bn)

NORTH AMERICA SECURITY INFORMATION AND EVENT MANAGEMENT – MARKET SEGMENTATION

By Solution

• Patch Management
• Log & Event Management
• Firewall Security Management
• Others

By Service

• Integration
• Consulting
• Support

By End User

• Healthcare
• Energy & Utility
• BFSI
• Government
• Retail
• Others

By Country

• US
• Canada
• Mexico

Companies Mentioned

• AlienVault
• DFLABS SPA
• Fireeye, Inc.
• Hewlett Packard Enterprise Development LP (HPE)
• IBM Corporation
• LogRhythm, Inc.
• RSA Security LLC
• SolarWinds Inc.
• Splunk Inc.
• TIBCO Software Inc.

North America Security Information and Event Management Report Scope