Log Management Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026
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. Log management helps in performing various functions such as ensuring security, system, and network administrators regularly to perform effective analysis of log data, protecting the confidentiality, integrity, and availability of logs, identify security incidents, monitor policy violations, identify fraudulent activities, etc.
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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 to boost the growth of Log Management market across the globe during the forecast period. Moreover, rising demand for business intelligence, rising trend of cloud-based log management practices, and integration of technologies such as predictive analytics, AI, ML into log management would provide lucrative opportunities for Log Management market vendors.
By deployment mode, cloud based segment to hold the largest market size during the forecast period
To reduce the cost and complexity of the security process and to ensure compliance with external and internal requirements, effective management of log data is essential. Cloud-based log management helps businesses to cost-effectively collect, normalize, and report on enterprise-wide security-related data necessary for compliance and security investigations. Cloud-based log management services accelerate search and analysis to help clients quickly identify errors and determine root causes for faster troubleshooting. According to Loggly, cloud-based log management and analytics service are easy to set up without any complex configuration requirements. Cloud-based log management seamlessly aggregates structured and unstructured logs in a centralized repository that offers better visibility across distributed security environments and allows clients to manage all logs from a single screen. Cloud-based deployment of log management solutions and services is expected to witness increased adoption during the forecast period.
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Unique Features in the Log Management Market
Centralised gathering of log data from various sources, such as security appliances, servers, apps, and network equipment. A single picture of system activity is provided by centralization, which also makes log maintenance easier.
The ability to track and log occurrences in real-time as they happen. Prompt reaction to important occurrences, including security breaches or system malfunctions, is made possible via real-time notifications and alerts.
Log aggregation capabilities that create a centralised repository from log entries from various sources. The ability to correlate log events makes it easier to spot trends or abnormalities by establishing links between them.
Robust search and query features that let users easily get particular log data by using different criteria. Forensics, compliance reporting, and troubleshooting all depend on this functionality.
Tools for behavioural analysis and anomaly identification that find anomalous patterns in log data by applying machine learning techniques. This aids in identifying any potential security risks or unusual system activity.
Major Highlights of the Log Management Market
Organisations now prioritise log management as a key element of their cybersecurity strategy due to heightened knowledge of cybersecurity threats. The detection and response to security issues depend heavily on efficient log management.
Log management systems are integrated with SIEM platforms to offer event monitoring and thorough security information. Organisations may better detect and respond to threats by correlating log data with security events thanks to this connection.
A stronger focus on real-time log monitoring and alerting in order to promptly detect and address operational problems and security incidents. Proactive threat identification and incident response depend on real-time capabilities.
Behavioural analytics and machine learning are combined to find trends and abnormalities in log data. The capacity to identify sophisticated threats and unusual system behaviour is improved by these advanced analytics.
Cloud-based log management systems are becoming more and more popular because of their scalability, flexibility, and accessibility. Organisations may handle logs without requiring a large amount of on-premises infrastructure thanks to cloud-based solutions.
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Top Key Companies in the Log Management Market
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).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their presence in the Log management market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.
Splunk offers Splunk Cloud, which eliminates the need to manage the IT infrastructure. The platform is used to collect, store, and analyze the data. The company also provides Splunk Enterprise, a machine data platform designed to index, collect, search, report, analyze, monitor, alert, and manage the data. Splunk also offers Splunk Light, which provides log search and analysis, and is designed for small IT environments. Splunk’s other solutions include Splunk Enterprise Security, Splunk IT Service Intelligence, and Splunk User Behavior Analytics. The company’s offerings help IT, business, and security professionals provide solutions that help organizations gain real-time actionable intelligence by analyzing the data and providing real-time visibility into organizations’ operations. The operational intelligence helps reduce operational costs and improve security and service levels. Splunk’s offerings are leveraged for business analytics, infrastructure and operations management, applications management, and security and compliance in verticals, such as financial services, business services, healthcare, manufacturing, telecommunications, travel and transportation, media and entertainment, retail, and online services.
SolarWinds is a leading provider of powerful and affordable IT infrastructure management software. SolarWinds’ product portfolio comprises network management, system management, database management, IT security, cloud monitoring, and IT help desk. The company’s log and event manager suite normalizes logs and manages security requirements, compliances, and troubleshooting. It also provides various services, along with the products, such as consulting, education and training, customer support and maintenance, and technical support. The company serves its products and services to 300,000 customers worldwide, including Fortune 500 enterprises, government agencies, and educational institutions. It offers products and solutions to various verticals, such as automotive, IT and telecom, education, BFSI, global service providers, Industrial Control Systems (ICS), healthcare, government, and retail. The company has a global presence in more than 170 countries across North America, Europe, APAC, MEA, and Latin America.
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