With 14.2% CAGR, Asia Security Information And Event Management Market Growth To Surpass USD 3,483.66 Million By 2030

(MENAFN- EIN Presswire)

The People's Republic of China, is actively passing several laws and regulations associated with data privacy and security.

June 2021, government enacted Data Security Law. This law came into force on September 1. It is mainly focused on security, protection of critical data relating to public interest & national security.” - Allied Market Research

WILMINGTON, DE, UNITED STATES, November 20, 2023 /EINPresswire / -- According to a recent report published by Allied Market Research, titled,“Asia Security Information and Event Management Market By Component, Deployment Model, Enterprise Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030,”

The Asia security information and event management market was valued at $914.73 million in 2020, and is projected to reach $3,483.66 million by 2030, registering a CAGR of 14.2%.

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The growth of the Asia security information and event management market size is driven by continuous increased acceptance of e-learning in corporate and academic set-ups and proactive government initiatives in developing markets. In addition, technological advancements in smart education & e-learning and growing number of mobile learning applications positively impacts the market.

The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. Post COVID-19, revenue of the Asia security information and event management industry is estimated to be $914.73 million in 2020. It has registered increase in its revenue and is expected to reach $1,058.34 million in 2021. The rising cyber-attacks during the Covid-19 pandemic has pushed demand for security information and event management solutions among the enterprises.

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Competitive Analysis:
The competitive environment of Asia Security Information and Event Management Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, U.S. Enterprise Asset Management Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Dell EMC
Fortinet, Inc.
IBM Corporation
McAfee LLC
Micro Focus
RSA Security LLC
Solarwinds Worldwide, LLC
Splunk, Inc and Many More

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In 2020, the solution segment dominated the overall Asia security information and event management market, and is expected to continue this trend during the forecast period. SIEM systems are available in a variety of forms, including traditional server software, hardware appliances, cloud-based, and virtual appliances. SIEM systems are currently built as a data store for high-velocity input, with an emphasis on usability. Need for modern SIEM tools to manage the IT security is expected to drive the growth of the SIEM solution segment in near future.

However, the services segment is expected to witness highest growth in the upcoming years. Growth in need for better security management, supportive government policies and rules to implement SIEM software, increase in adoption of SIEM on BYOD, and advancements in the SIEM technology has urged users to seek better knowledge and guidance along with the other services to effectively implement the SIEM technology in enterprises to gain maximum output with high quality.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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