SIEM enables organizations to easily filter large amounts of data and prioritize what matters most, giving them clearer, analytics-based views of their threat surfaces and broader cybersecurity strategy. Real-Time Monitoring and Analytics Need to Innovate Faster The 2021 MQ shows the need for greater innovation by bringing greater computing scale to the cloud for advanced analytics workloads and the engines analytics rely on to get work done. One of the most fundamental differences in this year’s MQ is the focus on how vendors leading on the cloud already are achieving faster time-to-market on new features and services. SIEM vendors need to capitalize on cloud platforms and accelerate their product roadmaps to stay with the most advanced cyber threats that bad actors continually create. The MQ warns enterprise SIEM buyers to watch out for on-premise configurations that could become problematic in advanced integration scenarios. The latest Magic Quadrant for SIEM shows vendors’ platforms are innovating at a much faster pace on public cloud platforms and hybrid cloud configurations than on-premise. Gartner predicts that by 2024, 80% of all SIEM vendors will offer a cloud-native “as a service” version of their solution, up from 40% today. Gartner’s definition of SIEM leans heavily on real-time reporting and analysis, an area all SIEM vendors need to improve. Gartner’s 2021 Magic Quadrant for Security Information and Event Management (SIEM) provides insights into how and why SIEM vendors need to step up their pace of innovation to keep up with the quickening pace of breaches, risks, and threats. In 2020, Gartner forecast SIEM at $4.4 billion, anticipated to grow at 13.9% in 2020 and a five-year Compound Annual Growth Rate (CAGR) of 13.4%. Add in the challenges of real-time cybersecurity monitoring and real-time analytics that quantify risk levels to the endpoint and it becomes clear that SIEM platforms need to innovate faster. The heavier reliance on hybrid clouds creates new, more complex cybersecurity risks, however.
The cloud decisively won the enterprise in 2020, as every business had to virtually scale IT operations while factoring in new digital transformation projects. In addition, it’s taking on average 287 days to identify and contain a breach, according to IBM’s latest report. According to IBM’s Cost of Data Breach Report, 2021, the average breach cost victims $3.86M last year, jumping 10% to $4.24M in 2021. As bad actors adopt AI, machine learning, and advanced technologies to breach enterprises, the cost of data breaches continues to soar. It’s getting more challenging and expensive for Security Information and Event Management (SIEM) vendors to maintain defensive parity with cyber attackers in 2021.
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