Managed SIEM Services Market

Market Definition

The managed Security Information and Event Management (SIEM) services market focuses on outsourced solutions that provide real-time monitoring, threat detection, incident response, and compliance management for organizations.

Managed SIEM services integrate advanced analytics, threat intelligence, and Machine Learning (ML) to identify anomalies and mitigate cybersecurity risks. These services involve log collection, correlation, and continuous threat monitoring through Security Operations Centers (SOCs).

Organizations related to banking, healthcare, and governments rely on managed SIEM for regulatory compliance, proactive threat hunting, and reduced operational burden.

Managed SIEM Services Market Overview

The global managed SIEM services market size was valued at USD 7.90 billion in 2023 and is projected to grow from USD 8.92 billion in 2024 to USD 23.49 billion by 2031, exhibiting a CAGR of 14.83% during the forecast period.

The increasing impact of data breaches is driving organizations to enhance cybersecurity frameworks, leading to a stronger demand for managed SIEM services that provide real-time threat detection and response.

Additionally, the shortage of skilled cybersecurity professionals is prompting businesses to adopt managed security solutions to bridge expertise gaps. The growing integration of cloud-based SIEM solutions further supports market expansion, enabling scalable, cost-effective security operations with enhanced threat intelligence.

Major companies operating in the managed SIEM services industry are Palo Alto Networks, Splunk LLC, LogRhythm, Inc., McAfee, LLC, FireEye, Inc., RSA Security LLC, AT&T Intellectual Property, Trustwave Holdings, Inc., Fortinet, Inc., Open Text Corporation, SolarWinds Worldwide, LLC, Securonix, Exabeam, Sumo Logic, and BlueVoyant.

The financial and reputational impact of data breaches is pushing organizations to strengthen cybersecurity frameworks, fueling the market. Cyberattacks targeting sensitive customer data, intellectual property, and financial transactions result in significant financial losses and regulatory fines.

• In November 2024, Wirral University Teaching Hospital Trust reported a major cyberattack, resulting in prolonged A&E wait times and appointment cancellations for patients. Since then, three additional hospitals in Merseyside have been targeted. Alder Hey Children's NHS Foundation Trust confirmed that the cyber incident had impacted its operations, along with those of Liverpool Heart and Chest Hospital & Royal Liverpool University Hospital.

Managed SIEM services provide real-time threat intelligence, security automation, and rapid incident response, helping businesses mitigate risks associated with data breaches.

The need for proactive security measures and continuous risk monitoring is compelling enterprises to invest in managed SIEM solutions that offer advanced threat detection and compliance-driven security operations.

• In November 2024, Trustwave and Endpoint Detection and Response (EDR) provider Cybereason announced a definitive merger agreement. The combined entity will offer a comprehensive portfolio, including managed detection and response, EDR, offensive security, security research, digital forensics & incident response, and threat intelligence services. Trustwave and Cybereason bring complementary solutions in EDR, email security, and database security. A key strategic focus will be the development of AI-driven technolog to detect known and emerging cyber threats with enhanced speed and precision.

Key Highlights:

1. The managed SIEM services industry size was valued at USD 7.90 billion in 2023.
2. The market is projected to grow at a CAGR of 14.83% from 2024 to 2031.
3. North America held a market share of 34.09% in 2023, with a valuation of USD 2.69 billion.
4. The threat intelligence and detection segment garnered USD 2.38 billion in revenue in 2023.
5. The cloud-based segment is expected to reach USD 15.01 billion by 2031.
6. The large enterprises segment secured the largest revenue share of 65.9% in 2023.
7. The IT and telecom segment is poised for a robust CAGR of 16.75% through the forecast period.
8. The market in Asia Pacific is anticipated to grow at a CAGR of 16.85% during the forecast period.

Market Driver

"Cybersecurity Talent Gap Increases SIEM Adoption"

Lack of cybersecurity skills is compelling businesses to seek outsourced security solutions, driving the managed SIEM services market. The shortage of qualified security analysts and SOC professionals makes it challenging for enterprises to maintain in-house security operations.

Managed SIEM services offer access to expert security teams, advanced threat intelligence, and continuous monitoring, reducing the operational burden on organizations.

Thus, businesses are increasingly adopting managed security solutions to ensure 24/7 threat detection, incident investigation, and compliance management without the need for extensive in-house cybersecurity expertise.

• In February 2025, Fortinet enhanced FortiAnalyzer, strengthening its capabilities in enabling faster and more intelligent security operations (SecOps) through a unified, turnkey hybrid platform designed for midsize enterprises and teams facing cybersecurity skill shortages. FortiAnalyzer serves as a robust and efficient solution for scaling security operations centers (SOCs), offering comprehensive coverage across both on-premises and cloud environments from a single platform.

Market Challenge

"Complexity in Integrating SIEM with Existing IT Infrastructure"

The integration of managed SIEM services with diverse IT environments poses a major challenge, as organizations operate on a mix of legacy systems, cloud platforms, and third-party security tools. Compatibility issues and data silos often lead to inefficient threat detection and response.

Companies are enhancing SIEM interoperability by developing API-driven architectures and standardized connectors that streamline data ingestion from multiple sources.

Additionally, vendors are offering managed onboarding services, assisting organizations in optimizing their security configurations without disrupting operations. Strategic partnerships with cloud providers and IT service firms are further improving seamless integration and scalability.

Market Trend

"Integration of Cloud-based SIEM Solutions"

The shift toward cloud computing is accelerating the demand for cloud-based security solutions, contributing to the growth of the managed SIEM services market. Organizations are increasingly adopting cloud SIEM platforms to achieve scalability, cost efficiency, and improved security posture across distributed IT environments.

Managed SIEM services offer continuous monitoring, automated threat detection, and centralized log management, ensuring seamless security operations. Cloud-native SIEM solutions enhance flexibility by integrating with hybrid and multi-cloud infrastructures, allowing businesses to address evolving security challenges without investing in complex on-premise security architectures.

• In March 2025, CrowdStrike and Accenture expanded their partnership to advance the modernization of SIEM tools used by security operations teams. The collaboration focuses on streamlining migrations from legacy providers to CrowdStrike’s cloud- and AI-native Falcon Next-Gen SIEM platform. CrowdStrike’s Next-Gen SIEM approach delivers enhanced security outcomes by leveraging cloud-native technologies and AI, offering a more advanced and efficient solution for threat detection and response.
• In November 2023, IBM introduced a significant transformation of its flagship IBM QRadar SIEM, reengineering it with a cloud-native architecture designed for enhanced scalability, speed, and flexibility in hybrid cloud environments. Additionally, IBM announced plans to integrate generative AI capabilities into its threat detection and response portfolio, utilizing Watsonx, the company’s enterprise-ready data and AI platform.

Managed SIEM Services Market Report Snapshot

Market Segmentation:

• By Service Type (Threat Intelligence and Detection, Incident Response and Investigation, Log Management and Reporting, Compliance Management, and Vulnerability Management): The threat intelligence and detection segment earned USD 2.38 billion in 2023, due to the increasing frequency of sophisticated cyber threats, prompting organizations to prioritize real-time threat detection, continuous monitoring, and proactive threat intelligence to mitigate security risks effectively.
• By Deployment Model (Cloud-based and On-premises): The cloud-based segment held 62.1% share of the market in 2023, due to its scalability, cost-effectiveness, and ability to provide real-time threat detection and response across diverse, distributed environments without the need for extensive on-premises infrastructure.
• By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises): The large enterprises segment is projected to reach USD 15.11 billion by 2031, owing to their complex IT infrastructures and heightened security needs, requiring advanced, scalable, and integrated solutions to manage vast amounts of data and mitigate evolving cyber threats.
• By Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Healthcare, IT and Telecom, and Government and Defense): The IT and telecom segment is poised for significant growth at a CAGR of 16.75% through the forecast period, due to the industry's high vulnerability to cyber threats, driving the need for robust, scalable security solutions that provide real-time threat detection, compliance management, and operational efficiency across complex network infrastructures.

Managed SIEM Services Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

North America managed SIEM services market is accounted for a market share of around 34.09% in 2023, with a valuation of USD 2.69 billion. North America remains a primary target for ransomware attacks, with breaches affecting critical industries such as finance, healthcare, and logistics.

The growing complexity of these threats is fueling the demand for managed SIEM services, as organizations require real-time threat detection, log management, and automated response capabilities.

The market is registering the increased adoption of AI-driven behavioral analytics within managed SIEM platforms to counter evolving ransomware techniques and prevent supply chain compromises. The need for proactive security measures is driving significant investments in managed SIEM services, contributing to market expansion.

Additionally, the U.S. Department of Defense (DoD) and federal agencies are increasingly relying on managed SIEM services to strengthen national cybersecurity defenses.

The implementation of the Cybersecurity Maturity Model Certification (CMMC) for defense contractors and the Biden administration’s Executive Order on Improving the Nation’s Cybersecurity are pushing organizations to adopt continuous monitoring and threat intelligence capabilities.

Leading managed SIEM providers are securing contracts with defense and federal agencies to provide real-time event correlation, log management, and automated threat detection aligned with NIST cybersecurity frameworks.

The managed SIEM services industry in Asia Pacific is poised for significant growth at a robust CAGR of 16.85% over the forecast period. Government agencies and critical infrastructure providers across Asia Pacific are facing an increasing number of cyberattacks, particularly from foreign nation-state actors.

Countries such as Taiwan, India, and Australia have reported frequent attacks on defense networks, healthcare systems, and financial institutions. Managed SIEM services are being deployed to enhance threat intelligence, improve incident response, and strengthen national cybersecurity frameworks. The increasing urgency to protect sensitive government data and critical assets is accelerating the growth of the market in the region.

• According to the International Data Corporation's (IDC) report, The State of Ransomware in Asia/Pacific, released in September 2024, ransomware attacks affected 59.6% of enterprises in the region in 2023. The surge in ransomware payments was driven by the exploitation of vulnerabilities within critical infrastructure and supply chains. The increasing interconnectivity of business ecosystems has further amplified risks, with 36.4% of enterprises reporting that ransomware incidents also impacted third-party supplier or customer systems.

Furthermore, the widespread adoption of cloud computing, digital banking, and e-commerce platforms has heightened vulnerabilities to ransomware, phishing, and insider threats.

Regulatory bodies are strengthening compliance requirements, thus, enterprises are turning to managed SIEM services to enhance real-time threat visibility, automate security workflows, and ensure regulatory adherence. This rising need for continuous security monitoring and compliance-driven security frameworks is accelerating the expansion of the market in the region.

Regulatory Frameworks

• The U.S. Department of Commerce has significantly increased regulatory actions under its Information and Communications Technology and Services (ICTS) supply chain rules, aimed at securing systems, software, products, and technology infrastructure. These rules enable the Department to investigate ICTS transactions involving foreign adversaries and mitigate national security risks, including banning certain technologies.
• The EU's General Data Protection Regulation (GDPR) is a comprehensive data protection law that impacts managed SIEM services. It mandates stringent data handling practices, requiring service providers to implement robust security measures to protect personal data. Non-compliance can result in substantial fines.
• Japan's Ministry of Foreign Affairs has been actively engaging in cybersecurity initiatives, including collaborations with international partners to address cyber threats. Specific regulations governing managed SIEM services are not detailed in the provided sources; however, Japan's commitment to cybersecurity is evident through its participation in international working groups and discussions on cyber operations.

Competitive Landscape

The managed SIEM services industry comprises several key players implementing strategies such as AI-driven cybersecurity enhancements, improved interoperability with existing security frameworks, and partnerships to strengthen threat detection and response.

These efforts are enabling organizations to counter evolving cyber threats with greater efficiency. Additionally, investments in advanced analytics and telemetry integration are enhancing the effectiveness of managed SIEM services, ensuring comprehensive network visibility.

Companies are accelerating the adoption of modern security solutions by prioritizing innovation and collaboration and strengthening their market presence, thereby driving the market.

• In February 2025, OpenText introduced OpenText Core Threat Detection and Response, an AI-driven cybersecurity solution designed for advanced threat detection, set to launch with Cloud Editions 25.2. This solution is seamlessly integrated with Microsoft Defender for Endpoint, Microsoft Entra ID, and Microsoft Security Copilot, enabling organizations to swiftly identify and neutralize threats before they cause harm. Additionally, OpenText offers a threat integration studio, allowing customers to incorporate and analyze telemetry from various network solutions, applications, security tools, and enterprise technologies within OpenText Core Threat Detection and Response.

List of Key Companies in Managed SIEM Services Market:

• Palo Alto Networks
• Splunk LLC 
• LogRhythm, Inc.
• McAfee, LLC
• FireEye, Inc.
• RSA Security LLC
• AT&T Intellectual Property
• Trustwave Holdings, Inc.
• Fortinet, Inc.
• Open Text Corporation
• SolarWinds Worldwide, LLC
• Securonix
• Exabeam
• Sumo Logic
• BlueVoyant

Recent Developments (M&A/Agreements/Product Launch)

• In March 2025, Fortinet enhanced its OT Security Platform to strengthen the protection of critical infrastructure and industrial sites against evolving cyber threats. These advancements extend beyond conventional OT visibility solutions, introducing enhanced OT-specific threat detection through the FortiGuard OT Security Service, expanded ruggedized solutions for segmentation and 5G deployment in challenging environments, and an upgraded OT SecOps portfolio designed for automated threat response and regulatory compliance monitoring.
• In September 2024, Palo Alto Networks acquired IBM’s QRadar SaaS assets, reinforcing both companies' commitment to delivering advanced threat prevention. This acquisition enables a seamless transition from QRadar to Palo Alto Networks' Precision AI-powered Cortex XSIAM platform, which consolidates SIEM, SOAR, ASM, and XDR into a unified system. Eligible customers can benefit from no-cost migration services through IBM Consulting, simplifying security operations and enhancing threat mitigation.
• In June 2024, Splunk unveiled the next-generation SIEM solution with the introduction of Splunk Enterprise Security 8.0, now available in private preview. Designed to enhance security operations, the platform enables analysts to efficiently detect critical threats, conduct holistic investigations, and respond swiftly. With a modernized interface, it streamlines threat management by offering a unified solution for data aggregation, analysis, and automation, significantly improving operational efficiency.
• In July 2024, Exabeam and LogRhythm merged to create an AI-driven security operations platform that enhances SIEM and UEBA capabilities with advanced technology and reliable data. This strategic integration aims to deliver highly efficient and accurate threat detection and response solutions. Leveraging the strengths of both companies, the combined entity is committed to equipping security analysts, engineers, and CISOs with the intelligence and tools needed to defend against evolving cyber threats.