In 2023, the managed SIEM services market was valued at USD 7,531.7 million, and it is projected to surge to USD 21,707.2 million by 2030, growing at a compound annual growth rate (CAGR) of over 16.5%.
The increasing prevalence of cyber fraud is driving the demand for enhanced security solutions, contributing to the expansion of the market. A U.K.-based IT firm reported that in 2021, global cyberattacks surged by 125% compared to the previous year. Among various fraud types, including phishing,