Traditionally, security information and event management vendors have charged companies based on how much data they collect.
Companies on limited budgets have to figure out which log data they absolutely have to have in their SIEM systems and leave the rest out. It’s as if Microsoft Excel charged by the spreadsheet.
Annual costs can run from tens of thousands to over $100,000.
According to Research and Markets, SIEMs and related technologies were a $5.3 billion market in 2018, and the market is expected to growth at a compound annual growth rate of 19.7 percent – to $12.9 billion by 2023. SIEMs are the fastest-growing segment of the market, the analyst company said.
But high costs of robust threat intelligence services are a barrier to adoption, the company said. Next-gen SIEM vendors have been attacking the incumbents, offering simpler, per-user pricing models.