Saudi Arabia Managed Security Information and Event Management (SIEM) market is projected to grow from $ 25.4 million in 2017 to $ 67.5 million by 2023, exhibiting a CAGR of around 18% during the forecast period. Growth in the market is expected to be driven by alarming increase in the number of incidents of cybercrimes, growing number of online transactions and booming Internet of Things (IoT) market. Some of the other key factors expected to fuel Saudi Arabia managed SIEM market are growing Bring Your Own Device (BYOD) concept, rising demand for Industrial Control Systems (ICS) security and increasing adoption of cloud-based managed SIEM among SMEs.
Years considered for this report:
Historical Years: 2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period: 2019-2023
Objective of the Study:
- To define, segment, describe and forecast Saudi Arabia managed SIEM market on the basis of solution, deployment mode, end user sector, region and company.
- To analyze and forecast Saudi Arabia managed SIEM market size.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of solution by segmenting Saudi Arabia managed SIEM market into solutions, namely, Firewall Security Management Managed SIEM, Log & Event Management Managed SIEM, Patch Management Managed SIEM and Others.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of deployment mode by segmenting Saudi Arabia managed SIEM market into deployment mode, namely, On-Premise and Cloud.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of end user sectors by segmenting Saudi Arabia managed SIEM market into sectors, namely, Government, BFSI, IT & Telecom, Manufacturing and Others.
- To identify the drivers and challenges for Saudi Arabia managed SIEM market.
- To strategically profile leading players operating in Saudi Arabia managed SIEM market.
Some of the major players operating in Saudi Arabia managed SIEM market are IBM Middle East FZ-LLC, Wipro Arabia Limited, Splunk Inc., LogRhythm Inc., McAfee LLC, Cognizant Technology Solution Saudi Arabia L.L.C., SolarWinds Corporation, Exabeam Inc., AlienVault Inc. and Injazat Data Systems LLC. The market is highly fragmented due to the presence of a large number of micro, medium and small players in Saudi Arabia managed SIEM market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of managed SIEM providers in Saudi Arabia. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the product offerings or variants and regional presence of major managed SIEM providers.
TechSci Research calculated Saudi Arabia managed SIEM market size using a bottom-up approach, where data for different components for standard application were recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and these were externally validated through analyzing historical data of managed SIEM market to arrive at the overall market size. Various secondary sources such as company website, company annual reports, press releases, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Managed SIEM providers, vendors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to managed SIEM market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as managed SIEM providers, companies, customers and policy makers. The study would also aid the stakeholders to target the growing segments over the coming years, thereby aiding them in taking right investment decisions and facilitating their expansion.
In this report, Saudi Arabia managed SIEM market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
- Market, by Solution:
o Firewall Security Management Managed SIEM
o Log & Event Management Managed SIEM
o Patch Management Managed SIEM
- Market by Deployment Mode:
- Market by End-User Sector,
o IT & Telecom
- Market, by Region:
- Market, by Company:
o IBM Middle East FZ-LLC
o Wipro Arabic Limited
o Splunk Inc.
o LogRhythm Inc.
Company Profiles: Detailed analysis of the major companies providing managed SIEM in Saudi Arabia.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)