Frost Radar™: Modern Security Information and Event Management, 2024

Organizations face enormous pressure and challenges to proactively respond to new and various threats from exponentially growing data. The increasing use of generative AI and machine learning as a part of the digitalization trend across the industry has resulted in an overwhelming volume of data for personnel to manage underneath security measures. The complexity of network infrastructure in the modern environment and the strict implementation of security measures within an organization increased the number of security solutions in use, hence increasing the number of security alerts. The use of multiple, layered security solutions presents a risk of missing important events or tickets that may require in-time management. As organizations face a growing cybersecurity skill gap, including the shortage of skilled experts coupled with increasing demand for sophisticated security solutions, modern security information and event management (SIEM) solutions can alleviate the burden by offering a scalable and efficient approach to security operations. By proactively detecting potential threats and triggering automated responses, modern SIEM empowers organizations to effectively manage and respond to cyberattacks. The modern SIEM market is expanding, with numerous new vendors intensifying competition. Frost & Sullivan evaluated the top 10 vendors (based on revenue in 2023) and other notable companies that met inclusion criteria, ultimately benchmarking 16 companies on the Frost Radar™. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.