A new study from Juniper Research has found that the total business spend on security identity and event management will exceed $6,4-billion globally by 2027, from just over $4,4-billion in 2022.
It predicts that this growth of 45% will be driven by the transition from term licence to more flexible SaaS models . This will enable small businesses to access previously unaffordable services. A SIEM system is a combination of SIM & SEM , which results in real-time automated analysis of security alerts generated by applications and network hardware; leading to improved corporate cybersecurity.
The research 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.Juniper Research has ranked IBM as leading in the global SIEM market, based on its highly successful analytics platform and its ease of integration.
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 not to leave larger enterprises, which still prefer term licences, behind
Source: News Formal (newsformal.com)
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