Back in 2014, I remember having a conversation with the CEO of well known security technology provider about SIEM (Security Information and Event Management). Back then, there were only a handful of SIEM players in the market.
He thought SIEM was dead technology but I wasn’t convinced. I thought the SIEM market would continue to grow, driven not only by the need for better security, but by compliance (regulations we knew – like PCI – and ones we didn’t know yet – like GDPR ).
Turns out , we were both wrong. While the market didn’t die, I completely underestimated its growth ! SIEM is far, far from dead – in fact it has a lot of life left!
In 2015 there were 11 SIEMs in Gartner’s annual Magic Quadrant. Fast forward to 2016 when there were 12 SIEM companies and in the 2017 report, which just came out, there are 18 companies in the Magic Quadrant ! Notice that the number of companies is going up – not down !
Why are there so many more ? Lots of reasons, but some quick snapshots
- Security and compliance are continuing to grow – even faster than we think
- While SIEM may be the norm across North America it’s not the case around the globe. There’s still significant uptick to be had in this space
- People knowing what they want – security executives are maturing and know what they want from their SIEMs. No one buys SIEM to just put it in a corner!
- Everyone is making a SIEM. More traditional security companies are saying, “Wow, that’s a big market – why can’t I make a SIEM?” – and so they are. There are a lot more fish in the pond now.
The real question is will this market continue to grow ?
Absolutely – I will not make the same mistake twice by underestimating the market.
What does ALL of this mean ? First – SIEM is here to stay!
It’s a hot market that hasn’t even hit the mainstream. There’s a lot of room for growth here.
Second – currently, SIEMs are all about LOGS but it needs to be more MANAGED. As the SIEM market grows, so does the MSSP market.
It’s a great time for our industry. Security is a hot topic in any boardroom because nobody wants to suffer from the consequences of a cyber attack. When it comes to cyber defense, it’s time to stop being reactive and become more proactive.
SIEM technology helps you do just that.
To Your Success,