Research: Greater Sophistication Of Cybercrime Helping Adoption Of SIEM

Organizations have begun to implement sophisticated security products to thwart criminals both within and without the organization in the wake of escalating severity, complexity and occurrence of cyber crimes, especially those relating to online transactions. Security Information and Event Management products offer protection against malicious activity within a network by constantly monitoring and acting upon safety intrusions, thereby safeguarding an organization's virtual and physical assets.

New analysis from Frost & Sullivan  World Security Information and Event Management (SIEM) and Log Management Products Market, finds that the market earned revenues of $678.1 million in 2009 and estimates this to reach $1.3 billion in 2015.

With various options such as implementation through hardware or software appliances, and managed services, SIEM is a vital cog in the secure and smooth operation of a business' network. A combination of SIEM and logging solutions is an option that all organizations must give due consideration to.

SIEM products not only help organizations maintain and comply with security regulations, but also offer defense, along with monitoring and reporting, which allows customization and scalability.

SIEM products incorporate multiple functions such as logging, reporting, network behavior analysis and alerts through its design. The market for these products are at the maturity stage, wherein emphasis is placed on increased feature sets, easier implementation and better integration with other security products.

SIEM's product visibility has improved with higher adoption; however, the high costs of deployment and the difficulty in quantifying its return on investment (ROI) have deterred its wide-scale adoption. Despite the availability of multiple options, participants must present the ROI benefits of SIEM or log management product.

"Due to the recent economic downturn and the consequent cut in IT budgets and staff, SIEM and log management product demand has increased," sid Frost & Sullivan research analyst Richard Martinez. "Financial institutions, government agencies, and others needed a solution that allowed them to stretch their capabilities and help lockdown their networks."

While most of the Fortune 500 companies already have a SIEM system running, the mid-market adoption is slower, due to the cost of a SIEM, and thereby holds substantial opportunities. SIEM's definition and functions have become unclear with feature sets increasing and varying by vendor. This makes it imperative for customers to be better educated regarding the compatibility and scalability requirements specific to their case.

"SIEM vendors will have to create a message correlating the necessity and capabilities of a SIEM in an organization's security environment," Martinez said. "Although SIEMs are pre-packaged with a set of security features, vendors will have to market to potential and current clients based on their specific use-cases to clearly inform them of the value SIEM can lend to their security portfolio."

 

Featured

  • 12 Commercial Crime Sites to Do Your Research

    12 Commercial Crime Sites to Do Your Research

    Understanding crime statistics in your industry and area is crucial for making important decisions about your security budget. With so much information out there, how can you know which statistics to trust? Read Now

  • Boosting Safety and Efficiency

    Boosting Safety and Efficiency

    In alignment with the state of Mississippi’s mission of “Empowering Mississippi citizens to stay connected and engaged with their government,” Salient's CompleteView VMS is being installed throughout more than 150 state boards, commissions and agencies in order to ensure safety for thousands of constituents who access state services daily. Read Now

  • Live From GSX: Post-Show Review

    Live From GSX: Post-Show Review

    This year’s Live From GSX program was a rousing success! Again, we’d like to thank our partners, and IPVideo, for working with us and letting us broadcast their solutions to the industry. You can follow our Live From GSX 2023 page to keep up with post-show developments and announcements. And if you’re interested in working with us in 2024, please don’t hesitate to ask about our Live From programs for ISC West in March or next year’s GSX. Read Now

    • Industry Events
    • GSX
  • People Say the Funniest Things

    People Say the Funniest Things

    By all accounts, GSX version 2023 was completely successful. Apparently, there were plenty of mix-ups with the airlines and getting aircraft from the East Coast into Big D. I am all ears when I am in a gathering of people. You never know when a nugget of information might flip out. Read Now

    • Industry Events
    • GSX

Featured Cybersecurity

Webinars

New Products

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings. 3

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions. 3

  • EasyGate SPT and SPD

    EasyGate SPT SPD

    Security solutions do not have to be ordinary, let alone unattractive. Having renewed their best-selling speed gates, Cominfo has once again demonstrated their Art of Security philosophy in practice — and confirmed their position as an industry-leading manufacturers of premium speed gates and turnstiles. 3