Devo Named a Leader in 2024 IDC MarketScape Worldwide SIEM for Enterprise

Devo recognized for ingest-based pricing and 400 days of hot data storage

BOSTON, Mass., Sept. 24, 2024 — Devo Technology, the security data analytics company, today announced that it has been recognized as a Leader in the IDC MarketScape Worldwide SIEM for Enterprise 2024 Vendor Assessment (IDC #US52525024, August 2024). 

The IDC MarketScape recognized Devo for the following strengths: 

• Customers like Devo’s three-tier product packaging, which is easy to comprehend. 
• Pricing is based on ingest and includes 400 days of hot storage. 
• Devo’s platform can ingest all data customers send instead of dropping logs when the platform does not recognize the log, which is helpful for organizations with custom applications.

“Devo gives customers customizable options that can scale with their unique needs,” said Michelle Abraham, senior research director, security and trust, for IDC. “Their ability to ingest all data also offers flexibility to include data from custom applications, delivering a more comprehensive view of a customer’s security picture.”

The AI embedded throughout the Devo Security Data Platform also contributed to its position as a Leader. Devo ThreatLink™, a centralized and automated case management solution, enriches alerts to offer more context, prioritizes cases, and includes quick actions without running a full playbook. Additionally, Devo DeepTrace automates threat hunting and investigation with attack-tracing AI to enable customers to scale investigations with limited resources. 

«The growing complexity of modern threat actors, massive data volumes, alert fatigue, and a shortage of skilled professionals make it increasingly difficult for security analysts to manage threats effectively,» said Rakesh Nair, SVP of product & engineering at Devo. “We believe Devo’s position in the 2024 IDC MarketScape Worldwide SIEM for Enterprise underscores the growing demand for supporting analyst work with AI-driven security operations tools to improve efficiency.”

The IDC Worldwide SIEM Market Shares, 2023 (IDC #US52525024, August 2024) noted that Devo’s share of the $6.2 billion SIEM market grew by 21.7% between 2022 and 2023. The report also cited Devo’s July 2024 announcement of its Data Orchestration capability as a notable event that shaped the SIEM market. The new add-on feature enables customers to filter and route data from any source to Devo and third-party data stores, ensuring the most valuable data is available for real-time analysis.

Read the excerpt here. 

About Devo

Devo Technology replaces traditional SIEMs with a real-time security data platform. Devo’s integrated platform serves as the foundation of your security operations and includes data-powered SIEM, SOAR, and UEBA. AI and intelligent automation help your SOC work faster and smarter so you can make the right decisions in real time. Headquartered in Boston, Massachusetts, with operations in North America, Europe, and Asia Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures and Eurazeo.

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.