In Gartner’s annual Magic Quadrant for Security Information and Event Management (SIEM) Technology report, IBM Security QRadar was ranked the highest among 15 different vendors. The report rates vendors on how their products address customers’ needs for security intelligence and analytic ranking them on their ability to execute and completeness of vision.

“We believe Gartner’s recognition helps validate IBM’s approach to security that focuses on helping customers benefit from security intelligence and analytics, and overcome challenges created by fragmented point solutions,” said Brendan Hannigan, general manager for IBM Security Systems.

The Gartner report estimates that SIEM is a $1.5 billion market, which grew by 16 percent last year and has an expected growth grate of 12.4 percent during 2014. “During this period, the number of Gartner inquiry calls from end-user clients with funded SIEM projects increased by 12 percent over the previous 12 months,” the report said.

While the report noted that the SIEM market is mature and competitive, it also mentioned that it is dominated by a small number of large vendors. HP, IBM, McAfee, EMC (RCA), and Splunk make up 60 percent of market revenue, with other large vendors like Tibco in the mix too. The report also pointed out that a few small vendors are doing well, but that there would be “increasing stress on many of the small remaining vendors.”

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(Image Credit: Steve Jurvetson)

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