Security Information & Event Management: Key Trends, Competitor Leaderboard & Market Forecasts 2022-2027

• Market Dynamics: Provides a detailed assessment of the state of play in the SIEM market, as well as an in-depth evaluation of its future development and readiness for further disruption.
• Business Model Analysis: Analysis of how the shift from term licence to SaaS (Software‑as‑a-Service) subscriptions is changing the landscape within SIEM and making services more accessible outside of traditional areas of strength.
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 15 SIEM providers; positioning them as either an established leader, leading challenger, or disruptor and challenger. Our Competitor Leaderboard scores these companies on their size of operations in the SIEM space, their extent and breadth of market partnerships, the sophistication of their platforms and Juniper Research’s view on each company’s innovation and future business prospects. The companies included in Juniper Research’s SIEM Competitor Leaderboard are:
  • Exabeam
  • Fortinet
  • IBM
  • LogPoint
  • LogRhythm
  • Micro Focus
  • Microsoft
  • Rapid7
  • RSA Security
  • Securonix
  • Solar Winds
  • Splunk
  • Sumo Logic
  • Trellix
  • Zoho
• Benchmark Industry Forecasts: 5-year forecasts for SIEM usage by businesses and spend on services, split by business size (large versus medium) and model (term licence versus SaaS). Data is also split by our 8 key regions and the 60 countries listed below:
  • North America:
    • Canada, US
  • Latin America:
    • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
  • West Europe:
    • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
  • Central & East Europe:
    • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
  • Far East & China:
    • China, Hong Kong, Japan, South Korea
  • Indian Subcontinent:
    • Bangladesh, India, Nepal, Pakistan
  • Rest of Asia Pacific:
    • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
  • Africa & Middle East
    • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

1. What steps must SIEM vendors take to manoeuvre through the future technological, social, and economical challenges?
2. What market opportunities are there for SIEM vendors?
3. What market segments will SIEMs provide the most value to as a technology for security transparency?
4. How will technologies such as artificial intelligence and machine learning influence SIEM development and implementation?
5. How many companies will use security information and event management in 2027 and what will they spend on these services?

Included in the Juniper Research Competitor Leaderboard: Exabeam, Fortinet, IBM, LogPoint, LogRhythm, Micro Focus, Microsoft, Rapid7, RSA Security, Securonix, SolarWinds, Splunk, Sumo Logic, Trellix, Zoho.
 
Mentioned: Akira, Alcide, Amazon, American Express, AstraZeneca, Automox, Blueliv, Boeing, Cisco, Cloudvisory, Datashield, Dell, Dell Technologies, Diners Club, DivvyCloud, Du, EMC Corporation, FireEye, Fortinet, Fortscale, Gigamon, Google, Japan Credit Bureau, JASK, JupiterOne, LogFiller, Mastercard, McAfee, Miburo, Microland, MistNet, Monalytic, Mphasis, NetWitness, NHS, Okta, Orion, Plumbr, PowerTech, Proofpoint, QRadar, Qualys, REAL Security, ReaQta, Recorded Future, RiskIQ, Sailpoint, Salesforce, ShieldX, Sken.ai, SkyFormation, Spanugo, STG, Swimlane DFLabs, SXiQ, TechnoBind, Tenable, TruSTAR, Verodin, Visa, Zerofox.
 

• SIEM adoption by businesses and spend, split by:
  • Business size: Large versus medium
  • Model: Term licence versus subscription

Geographical splits: 60 countries
Number of tables: 44 tables
Number of datapoints: Over 16,500 datapoints

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Total business spend on SIEM will exceed $6.4 billion globally by 2027, from just over $4.4 billion in 2022. It predicted that this growth of 45% will be driven by the transition from term licence (where businesses can use SIEM for specific licence lengths) to more flexible SaaS (Software-as-a-Service) models (where SIEM solutions are purchased via monthly subscription). This will enable small business to access previously unaffordable services.

• The research has identified the world’s leading SIEM providers by evaluating their offerings, and the key factors that have led to their respective success, such as the breadth and depth of their platforms.

• The top three vendors are as follows:

1. IBM
2. Rapid7
3. Splunk

• Juniper Research has ranked IBM as leading in the global SIEM market, based on its highly successful analytics platform and its ease of integration. SIEM vendors aiming to compete must design scalable solutions that are accessible to smaller businesses, which can provide easy to understand, actionable insights for less experienced cybersecurity teams.

• Additionally, SaaS business models within SIEM are gaining traction; accounting for almost 73% of global business spend on SIEM in 2027, from only 37% in 2022. This significant increase represents an opportunity for newer vendors to break into the market with appealing SaaS-based models, but SIEM vendors must be careful to not leave larger enterprises who still prefer term licences behind.