Press Release Description

Global Managed SIEM Services Market Valued at USD 7.12 Billion in 2023, Predicts 17.4% CAGR Expansion Through 2030

The Global Managed SIEM Services Market size was valued at USD 7.12 billion in 2023 and is estimated to grow at a CAGR of around 17.4% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The rising demand for managed SIEM services is driven by the concept of digital transformation across various industries & increasing awareness of adopting proactive security measures by the rapid evolution of the cybersecurity landscape that is highlighted by an escalation in sophisticated cyber risks. The Managed SIEM Services Industry is experiencing rapid growth due to the increasing complexity of securing digital assets faced by organizations. The appeal of outsourcing to managed service providers is further heightened by the shortage of skilled cybersecurity professionals.

Moreover, managed SIEM services have become an indispensable element in addressing the vulnerabilities posed by contemporary cybersecurity challenges, in addition to a strategic alternative. Hence, the market's momentum is contributed to by the increasing prevalence of remote work, the growing attack surface due to the adoption of cloud technologies, and the imperative for regulatory compliance. Furthermore, these scalable services provide organizations with an expert-driven solution to strengthen their defenses against the ever-changing landscape of cyber risks, further states the research report, “Global Managed SIEM Services Market Analysis, 2024.”

Global Managed SIEM Services Market

Global Managed SIEM Services Market Segmentation Analysis

Fully-managed Segment to Hold a Significant Position in the Global Managed SIEM Services Market

Based on the Type segment, the market is further bifurcated into Fully-managed and Co-managed. During the forecast period, the Fully-managed segment is predicted to play a significant role in driving the Managed SIEM Services Market share. This particular segment encompasses the entire process of deploying, configuring, monitoring, and managing SIEM solutions through a comprehensive outsourcing method for SIEM services. Moreover, different core business operations necessitate the utilization of comprehensively managed SIEM services in order to capitalize on the advantages of a strong cybersecurity stance. Also, to combat cyber threats, the fully managed services execute security operations led by experts & take proactive measures to address cyber incidents. Therefore, this particular segment is expected to experience significant growth in the Managed SIEM Services Market.

Asia-Pacific to Lead the Managed SIEM Services Industry

The Asia-Pacific region is expected to lead the Managed SIEM Services Market in terms of size due to various factors. The market has witnessed a significant growth in response to the increasing demand for strong cybersecurity measures. This surge can be attributed to the rapid digital transformation, heightened connectivity, and growing awareness of cyber risks. Additionally, the managed SIEM services possess the ability to effectively counter cyber threats using highly advanced security solutions. Further, the marketplace across the region has witnessed an increase in demand for managed SIEM services due to the growing adoption of cloud technologies, thus enhancing the Asia-Pacific Managed SIEM Services Market.

Global Managed SIEM Services Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including IBM, SAP, Oracle, Informatica, AWS, NetApp, Tera Data, K2 View, Talend, Denodo, Google, Microsoft, HPE, Snowflake, Radiant Logic, and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the Global Managed SIEM Services Market?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography & service adoption?
  5. How has the competition been shaping across various regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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