The Europe Security Information and Event Management market accounted for US$ 1,023.9 Mn in 2018 and is expected to grow at a CAGR of 12.0% over the forecast period 2019?2027, to account for US$ 2,809.7 Mn in 2027. Factors including rising spending on Cybersecurity solutions by large and medium enterprises driving the Europe Security Information and Event Management market. The significant presence of IT systems and solutions coupled with extensive exposure to various devices results in the effective and efficient management of Cybersecurity posture of the organization. Thus, the organization has spent heavily towards minimizing the potential vulnerabilities and containment of immediate unauthorized access and breach of data. Also, the growing sophistication of cyber threats coupled with a large number of alerts and events notification has created a strong demand for the robust and efficient market for various security-related solutions. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the Europe Security Information and Event Management market.
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The Europe Security Information and Event Management market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the Europe Security Information and Event Management market further. For instance, in 2017, the European Commission implemented a cyber-security package. The suite builds upon current instruments and offers new advantages to enhance EU cyber response and resilience further. This suite comprises of ENISA ? the EU cyber-security agency, EU-wide Cybersecurity certification scheme and NIS directive. These initiative provide various benefits to the Security Information and Event Management manufacturing companies located in the region. These initiatives are implemented to enhance the technologies that positively impact on the Europe Security Information and Event Management market. These initiative provide various benefits to the Security Information and Event Management based companies located in the region thus, increasing the growth of Europe Security Information and Event Management markets. This is further expected to provide the Europe Security Information and Event Management market players to cope up with the rapidly transforming industrial requirement. This initiative offers multiple benefits to the companies present in this region and thus increasing the growth of Europe Security Information and Event Management market.
Based on services, the integration segment is leading the Europe Security Information and Event Management market. However, the consulting segment is anticipated to grow at the highest CAGR. Consulting services basically help the enterprise to use products, services, software, and devices to solve, envision, and understand new possibilities for their business; these services include training and new technological development. It helps enterprises in overcoming challenges related to implementations, accessibility, and cost. Consulting service defines business and technical needs to determine which cloud solution to deploy private, hybrid or public. It also includes services such as Cloud strategy, Cloud design, Cloud implementation, and Cloud application migration. Currently, the market players are looking ahead to support Europe Security Information and Event Management industry by innovating advanced technological components.
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The overall Europe Security Information and Event Management market size have been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe Security Information and Event Management market. It also provides an overview and forecast for the Security Information and Event Management market based on all the segmentation provided with respect to the Europe region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts and key opinion leaders specializing in the Security Information and Event Management industry. Some of the players present in Security Information and Event Management market are AlienVault, DFLABS SPA, Fireeye, Inc., Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, LogRhythm, Inc., RSA Security LLC, SolarWinds Inc., Splunk Inc., and TIBCO Software Inc.
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This post was originally published on Trading Herald