According to the report published by Allied Market Research, the Asia security information and event management market generated $914.73 million in 2020 and is anticipated to reach $3.48 billion by 2030, manifesting a CAGR of 14.2%. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
An increase in concerns over IT security, the surge in acceptance of BYOD trend, the threat of cybercrimes, and favorable IT governance and law compliance fuel the market growth.
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On the other hand, the complexity of security information and event management solutions along with the high cost of ownership hinder market growth. On the contrary, the emergence of next-generation security information and event management creates opportunities in the market.
Based on components, the solution segment accounted for the largest market share in 2020, contributing to nearly three-fourths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the services segment is estimated to witness the fastest CAGR of 15.4% from 2021 to 2028. The report also covers the regular product type segment.
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Based on the deployment model, the on-premise segment contributed to the highest market share in 2020, attributing to around three-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the cloud segment is expected to manifest the fastest CAGR of 15.8% from 2021 to 2028.
Based on region, China contributed to the highest share in 2020, holding more than one-third of the total share, and is anticipated to maintain dominance throughout the forecast period. The Asia SIEM market across India is anticipated to exhibit the fastest CAGR of 20.1% during the forecast period.
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A list of companies profiled in the Asia security information and event management market analyzed in the research include Dell EMC, Solarwinds Worldwide, LLC, Exabeam, Fortinet, Inc., Micro Focus, RSA Security LLC, IBM Corporation, RAPID7, McAfee LLC, and Splunk, Inc.
COVID-19 scenario:
- The COVID-19 pandemic led to the expedited acceptance of the digital transformation journey of the enterprises.
- The work-from-home scenario and a stay-at-home norm have motivated technology usage.
- The increase in cyber-attacks during the pandemic has created a demand for security information and event management solutions across the markets.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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