Financial Firms Access SIEM Services Pricing Nobody Anticipated
Real-World Examples and Data
According to a report by Gartner, the global SIEM market is projected to grow at a compound annual growth rate (CAGR) of 5.5% through 2024, indicating a strong demand for these solutions1. This growth is driven by the increasing number of cyber threats targeting financial institutions and the need for regulatory compliance.
In practice, financial firms that have adopted flexible SIEM pricing models have reported significant improvements in their security posture. A case study by Splunk highlights how a mid-sized bank reduced its security incident response time by 70% after implementing a cloud-based SIEM solution with a usage-based pricing model2.