Northbrook, IL 60062 -- (SBWIRE) -- 12/22/2022 -- The global Security Information and Event Management Market size is estimated to grow from USD 4.2 billion in 2020 to USD 5.5 billion by 2025, at a CAGR of 5.5% during the forecast period. The need for continuous monitoring and incident response, adhering to compliance requirements, gaining and maintaining certifications, and managing and retaining logs are the primary factors to drive the demand for the SIEM market during the forecast period.

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how big is the siem ecosystem in the cybersecurity domain?

As per MarketsandMarkets analysis, the global cybersecurity market is estimated to be USD 5 billion in 2022 and is projected to reach USD 266.2 billion by 2027.
Security Information and Event Management (SIEM) is a solution that helps organizations detect, analyze, and respond to security threats before they harm business operations. SIEM, pronounced "sim," combines security information management (SIM) and security event management (SEM) into one security management system. SIEM technology collects event log data from a range of sources, identifies activity that deviates from the norm with real-time analysis, and takes appropriate action.
Advanced SIEM capabilities encompass solutions such as log management, Security Operations and Automated Response (SOAR), and Managed Security Services (MSS) like risk and threat assessment; Security Operation Center as-a-Service (SOCaaS); Managed Detection and Response (MDR); and Extended Detection and Response (XDR).
Evolved SIEM solutions and services domain in 2022 is estimated to be in the range of USD 35 – 40 billion, which accounts for 20-25% of the total cybersecurity market space.

current state and Evolution of siem

SIEM gives organizations visibility into the activity within their network so they can respond swiftly to potential cyberattacks and meet compliance requirements. In the past decade, SIEM technology evolved to make threat detection and incident response smarter and faster with artificial intelligence. However, SIEMs have not lived up to these promises.
The traditional approach of collecting a group of siloed tools (such as EDR, NTA, SIEM, and UEBA) to analyze traffic in networks, servers, endpoints, cloud, and other slices of the security infrastructure is simply not working.
SIEM today has evolved to address the constantly changing threat and regulatory landscapes in a few different ways. Effective solutions today include a range of analytics to detect threats across the spectrum, from sophisticated advanced persistent threats and malicious insiders to ransomware and other commoditized malware.
These capabilities include machine-learning powered behavioral analytics to identify outlying behaviors that signal the presence of a stealthy attacker; real-time correlation against threat intelligence to quickly detect known threats and alert analysts; and a spectrum of anomaly detection, predictive analytics, historical correlation, and other intelligent analytics to address a wide range of business-critical security use cases.
To better support organizations, some vendors across the security stack are building MITRE ATT&CK awareness directly into their solutions. As MITRE ATT&CK looks to become the global standard against which organizations can measure and test their detection & response capabilities, we see this trend continuing in the future. It's worth noting that as security teams assess their security postures, they are increasingly looking to solutions that can holistically identify attack tactics, techniques & procedures across on-premises, public cloud, private cloud, and modernized application environments.
SIEM has progressed from simple log management systems to systems that employ advanced user and entity behavior analytics (UEBA) and SOAR. SIEM platforms are now an essential component of comprehensive cybersecurity solutions, and they play an important role in regulatory and compliance reporting for many organizations. SIEM has grown over the years with more advanced capabilities which include MSS, SOAR, MDR, SOCaaS, and XDR.
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