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Security Information & Event Management (SIEM) spend to exceed $6.4bn by 2027

960 640 Stuart O'Brien

A new study from Juniper Research has found that the total business spend on SIEM (Security Identity & Event Management) will exceed $6.4 billion globally by 2027, from just over $4.4 billion in 2022.

It predicts that this growth of 45% will be driven by the transition from term licence (where businesses can use SIEM for specific licence lengths) to more flexible SaaS (Software-as-a-Service) models (where SIEM solutions are purchased via monthly subscription). This will enable small businesses to access previously unaffordable services.

A SIEM system is a combination of SIM (Security Information Management) & SEM (Security Event Management), which results in real-time automated analysis of security alerts generated by applications and network hardware; leading to improved corporate cybersecurity.

IBM Tops Juniper Research Competitor Leaderboard

The research identified the world’s leading SIEM providers by evaluating their offerings, and the key factors that have led to their respective success, such as the breadth and depth of their platforms.

The top 3 vendors are:
1.    IBM
2.    Rapid7
3.    Splunk

Research co-author Nick Maynard said: “Juniper Research has ranked IBM as leading in the global SIEM market, based on its highly successful analytics platform and its ease of integration. SIEM vendors aiming to compete must design scalable solutions that are accessible to smaller businesses, which can provide easy-to-understand, actionable insights for less experienced cybersecurity teams.”

Transition to SaaS Accelerating Rapidly

Additionally, the research found that SaaS business models within SIEM are gaining traction; accounting for almost 73% of global business spend on SIEM in 2027, from only 37% in 2022. This significant increase represents an opportunity for newer vendors to break into the market with appealing SaaS-based models, but SIEM vendors must be careful not to leave larger enterprises, which still prefer term licences, behind.

To find out more, see the new report: Security Information & Event Management: Key Trends, Competitor Leaderboard & Market Forecasts 2022-2027.

White Paper: Maximize Your SIEM with Precise Active Directory Security Details

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Filling the Active Directory Security Gaps in Your SIEM

Lateral movement and privilege escalations through Active Directory are the root cause of all breaches. SIEM solutions are not new, and most organizations rely on them to measure the overall security of the network and devices that the SIEM is monitoring. SIEMs can gather log information from computers, firewalls, network devices, printers, and more.

With each device having a different logging format, as well as different levels of events, the SIEM must be configured for each and every device to ensure proper analysis and event gathering. Just looking at Active Directory and domain controllers alone, you’ll find thousands of generated events.

There’s a hacker-shaped hole in your SIEM. Stopping AD compromise begins with weeding out the root causes: lateral movement + privilege escalation. 

Get the Alsid Academy guide by Microsoft MVP Derek Melber at Alsid to help fill the gaps in your SIEM.

Agenda:

  • Where SIEMs succeed (and fail)
  • SIEM customization, correlation, and false positives
  • The risks of agent- and privilege-based solutions

Download the white paper here

Exabeam raises $50m, aims to disrupt SIEM market

960 640 Stuart O'Brien

The company says demand for solution in the security information and event management (SIEM) market is expected to hit $4.54 billion in 2019 citing data from MarketsandMarkets.

Historically, the sector is dominated by a handful of providers, but in recent years has shifted to platforms that can support the massive data volumes generated by cloud applications and mobile device use.

Exabeam says it posted 250 per cent market growth in 2017, coming off 300 percent growth in 2016, and says it’s on track to double its market size in 2018. The firm’s core product is the Security Intelligence Platform (SIP); it was named the 2018 Gartner Peer Insights Customers’ Choice for its SIEM software, and recently won an SC Awards Europe 2018 for Best SIEM.

The platform uses a flat, predictable pricing model, which Exabeam says allows organisations to store all of their logs, unlike the “by-the-byte” pricing model that forces budget-conscious customers to limit the amount of data covered by the SIEM, creating blind spots that sacrifice the security of the entire organization.

“As a longtime investor in the cybersecurity space, I’ve always been excited about Exabeam’s approach and potential to deliver the next generation of security tech,” said Theresia Gouw, co-founder of Aspect Ventures, and a leading investor in cybersecurity. “It’s clear from the large increase in replacement wins with customers like ADP, Hulu, Safeway, Union Bank that Exabeam is consistently delivering industry-leading technology to the most demanding enterprises and government organizations in the world.”

“Our investors have an amazing track record of investing in companies that truly are disruptive and typically become category leaders,” said Exabeam CEO Nir Polak. “Their experience with high-growth companies like MuleSoft, Nutanix, Zscaler, ForeScout – is invaluable to us in the advice and guidance they pass along to our executive team. The new funding will allow us to invest heavily in our new cloud solutions and reach even more enterprises around the world. We are on track to overtake Splunk and be the next SIEM market leader.”