The most popular and comprehensive Open Source ECM platform
SEIM — Security Information and Event Management — is software that helps businesses identify details behind cyber security threats. SEIM provides real-time data about network activity. It examines log and event data generated by servers, applications and security devices. Possible problems are classified as malware activity or failed logins. SEIM helps businesses identify and respond to cyber-security threats.
SEIM is a $5.3 billion market and is expect to grow to $12.9 billion by 2023, according to Research and Markets. That’s nearly a 20 percent annual growth rate.
Paula Musich, research director at Enterprise Management Associates (EMA), told CSO that “auditors need a way to look at whether compliance was being met or not, and SIEM provides the monitoring and reporting necessary to meet mandates like HIPPA, SOX and PCI DDS. Now large organizations typically look to SIEM as a foundation for standing up the security operations center.”
But there’s a problem with SEIM, or at least a lot of the legacy products still on the market. Tim Matthews, chief marketing officer at Exabeam, said that “if you look at the current market, most of the incumbent players have been in the market for 10 or 15 years. These products were developed pre-big data and before the recent revolution in machine learning. So, they can’t scale, and they don’t actually use machine learning to help you make decisions .”
Next-generation SEIM software will be built from the ground up to take advantage of newer technologies, like big data and machine learning. The market can be due for a shakeup.