According to a new market research report “Log Management Market by Component (Solution and Services [Professional and Managed Services]), Organization Size, Deployment Mode, Vertical (IT and ITeS, BFSI, Healthcare, Retail and eCommerce, Telecom, and Education), and Region-Global Forecast to 2025″, published by MarketsandMarkets, market is expected to grow from USD 1.9 billion in 2020 to USD 3.7 billion by 2025, at a CAGR of 14.1% during the forecast period. The primary factors driving the log management market are the increasing need to secure IT infrastructures from advanced cyberattacks, such as, zero-day attacks, ransomwares, and malwares.
Browse and in-depth TOC on “Log Management Market”
130 – Tables
34 – Figures
161 – Pages
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By organization size, the large enterprises segment to hold a larger market size in 2020
Log management vendors help both Small and Medium-sized Enterprises (SMEs) and large enterprises to address the security of business-critical applications to protect them from sophisticated vulnerabilities. Advanced log management solutions empower SMEs and large enterprises to capture, store, and analyze the logs. The adoption rate for log management solutions is high in large enterprises and is expected to dominate the log management market in terms of market size, during the forecast period. Additionally, as large enterprises do not have budget constraints, it enables them to adopt the on-premises-based log management solutions.
Based on verticals, the IT and ITeS vertical to hold a significant share during the forecasted period
Companies operating in information technology (IT) and IT enabled services (ITeS) vertical are one of the major adopters of log management solutions. It has been a highly regulated and competitive industry that always processes most of the private data of its customers. Adhering to regulatory compliances has become a key driver of log management needs for these industries. In addition to government and industry regulations, businesses are applying their own security guidelines and techniques to protect their cloud environments. Today’s businesses are adopting various emerging technologies, resulting in the increased network traffic. These networks hold highly sensitive data and hence, are majorly targeted by cybercriminals and hackers. Log management services and solutions allow organizations to inspect large amounts of data generated inside and outside the organization to expose hidden threats, detect patterns, and remove vulnerabilities.
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Asia Pacific log management market to grow at highest CAGR during the forecast period
The Asia Pacific (APAC) region comprises growing economies, such as China, India, Australia, and Japan, which are expected to register high growth rates in the log management market. Due to the rapid growth of IT infrastructure in this region, the need to protect various endpoints and applications executing within those IT infrastructures, is increasing. This has given rise to the demand for log management solutions which mitigate advanced threats by blocking unauthorized applications from executing on endpoints and reducing risks. The major drivers for the log management market in the APAC region include increased frequency of security breaches and stringent government regulations and standards for data security and cyber security.
The major vendors covered in the log management market include SolarWinds (US), IBM (US), Micro Focus (UK), Rapid7 (US), RSA (US), McAfee (US), Alert Logic (US), ManageEngine (US), Splunk (US), LogRhythm (US), Sumo Logic (US), BlackStratus (US), Graylog (US), LogDNA (US), Humio (UK), Logit,io (UK), Paessler AG (Germany), Sematext Group (US), XpoLog (US), and Logz.io (US).
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