Exploring Managed SIEM Services Market Opportunity, Latest Trends, Demand, and Development By 2030| MarkNtel

Managed SIEM Services Market Overview: 2024-2030

Base Year: 2023

Historical Years: 2019-22

Forecast Years: 2024-30

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. The rising demand for managed SIEM services is propelled by the rapid evolution of the cybersecurity landscape, which is highlighted by an escalation in sophisticated cyber risks. With the concept of digital transformation across various industries and increasing awareness of adopting proactive security measures, the market is growing at a faster rate. Moreover, organizations are increasingly grappling with the complexities of safeguarding their digital assets, which has further heightened the allure of outsourcing to managed service providers. Thus, this appeal is particularly amplified by the scarcity of proficient cybersecurity experts.

Markntel Advisor’s Managed SIEM Services Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Managed SIEM Services Market drivers, barriers, Managed SIEM Services Market Trends, and Key Players in Managed SIEM Services Market.

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Managed SIEM Services Market Dynamics: 2024-2030

Managed SIEM Services Market Driver:

Rising Cyber Threats & Risks to Instigate the Market Growth – The global growth of the Managed SIEM Services Market has been driven by the rising occurrence of cyber threats, including malware, ransomware, and targeted attacks. The Managed SIEM Services offer robust cybersecurity solutions for continuous monitoring and detection of cyber risks, as these services are equipped with advanced analytics & risk intelligence for proactively safeguarding the cyber-attack. This, in turn, has aided in elevating the market demand in the following years.

Managed SIEM Services Market Challenge:

High Costing & Budgeting of Cybersecurity Solutions to Restraint the Expansion – The Managed SIEM Services Market faces a formidable obstacle in the form of cost & budget constraints, particularly for smaller enterprises. Implementing & sustaining robust cybersecurity measures can be financially taxing, and the initial investment needed to deploy managed SIEM services can be prohibitive for organizations operating on limited budgets. Hence, conquering this challenge requires a delicate equilibrium between cost concerns and the imperative for robust cybersecurity, underscoring the significance of adaptable and scalable service models.

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Managed SIEM Services Market (2024-30): Segmentation Outlook

The market report has segmented the market into the following categories:

·       By Application

o   Log Management & Reporting- Market Size & Forecast 2019-2030, (USD Million)

o   Threat Intelligence- Market Size & Forecast 2019-2030, (USD Million)

o   Security Analytics- Market Size & Forecast 2019-2030, (USD Million)

o   Others- Market Size & Forecast 2019-2030, (USD Million)

·       By Type

o   Fully Managed- Market Size & Forecast 2019-2030, (USD Million)

o   Co-managed- Market Size & Forecast 2019-2030, (USD Million)

According to report, The Fully Managed segment contributes to the largest share in the Managed SIEM Services Market during 2024-2030.

·       By Deployment mode

o   On-premises- Market Size & Forecast 2019-2030, (USD Million)

o   Cloud- Market Size & Forecast 2019-2030, (USD Million)

·       By Organization size

o   Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)

o   SMEs (Small-Medium Enterprises)- Market Size & Forecast 2019-2030, (USD Million)

According to report, The Large Enterprise would account for a prominent share of the Managed SIEM Services Market during the forecast period.

·       By Vertical

o   BFSI- Market Size & Forecast 2019-2030, (USD Million)

o   Government- Market Size & Forecast 2019-2030, (USD Million)

o   Healthcare- Market Size & Forecast 2019-2030, (USD Million)

o   IT & ITEs- Market Size & Forecast 2019-2030, (USD Million)

o   Retail & E-commerce- Market Size & Forecast 2019-2030, (USD Million)

o   Energy & Utilities- Market Size & Forecast 2019-2030, (USD Million)

o   Telecommunications- Market Size & Forecast 2019-2030, (USD Million)

o   Manufacturing- Market Size & Forecast 2019-2030, (USD Million)

o   Others- Market Size & Forecast 2019-2030, (USD Million)

By Region

·       North America

·       South America

·       Europe

·       The Middle East & Africa

·       Asia-Pacific

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Top Companies Operating in the Managed SIEM Services Market:

·        IBM

·        AT&T

·        Verizon

·        NTT Data

·        Capgemini

·        BT

·        NCC Group

·        TCS

·        Unisys

·        OPTIV

·        Vodafone

·        Wipro

·        Rapid7

·        ManageEngine

·        Trustwave

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