The global Log Management market size is expected to grow from USD 2.3 billion in 2021 to USD 4.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9% from 2021 to 2026. The major factors fueling the Log Management market include increasing sophistication of cyberattacks necessitating log management for early detection of cyberattacks, presence of stringent government regulations and compliances, and generation of large data due to increased dependence on IT infrastructure.
Solution to grow at a higher CAGR during the forecast period The log management solutions can be implemented in an organization for identifying various types of events to either manage system logs, application logs, or security logs.These events typically include information, warning, error, success audit, and failure audit events.
According to Graylog, a centralized log management solution gives more ways to store log messages.An on-premises centralized log management solution can track storage use so that users have visibility into their ingest rate.
On the other hand, a cloud centralized log management solution lets users see how much storage is left and whether more storage is needed.A centralized log management solution also helps in aggregating, correlating, and analyzing log data more easily, resulting in rapid detection of security incidents and performance optimization.
A centralized log management solution collects logs in whichever format the log is present then standardizes them to the same format to enable faster log analysis.
In organization size segment, SMEs to have a higher market share during the forecast period The biggest challenge faced by SMEs for cybersecurity is budget constraints.With a small to medium-sized budget, most SMEs end up giving less importance to the deployment of cybersecurity solutions due to their costly nature.
Though SMEs have a less or manageable client base with limited servers, they are exposed to issues, such as hacking attempts by third parties and auditing requirements by governmental or industry regulations.Monitoring logs at a single place by SMEs results in reducing the possibilities of system downtime and results in various advantages, such as improved customer satisfaction, quick recovery from downtime, and more business intelligence.
The increasing demand for security from SMEs for improving their productivity and the pooling of knowledge base have triggered vendors to provide log management solutions at lower costs. To overcome the challenge of budget constraints, SMEs are moving toward adopting cloud-based log management services. • By company type: Tier 1: 40%, Tier 2: 35%, and Tier 3: 25% • By designation: C-level: 45%, Director level: 30%, Others: 25% • By region: North America: 35%, APAC: 30%, Europe: 25%, RoW: 15%
Major vendors offering Log Management market across the globe are IBM (US), Splunk (US), Solarwinds (US), Rapid7 (US), Micro Focus (US), RSA (US), McAfee (US), Alert Logic (US), Manage Engine (US), LogRhythm (US), Sumo Logic (US), BlackStratus (US), LogDNA (US), Logit.io (UK), Paessler AG (Germany), Sematext (US), Xpolog (US), Humio (UK), Logz.io (Israel), Anodot (US), Loom Systems (US), Chaos Search (US), Coralogix (US), Datadog (US). The study includes an in-depth competitive analysis of the key players in the Log Management market, with their company profiles, recent developments, and key market strategies.
Research coverage The market study covers the Log Management market size across segments.It aims at estimating the market size and growth potential of this market across different segments: by component, by deployment mode, by organization size, by vertical and by region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Log Management market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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By Asia Market Information & Development Company
• Jul 2021
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