NEW
YORK, July 12, 2024 /PRNewswire/ -- The
global log management market size is estimated to grow by
USD 2138.85 mn from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of 12.63% during the forecast period. Growing demand
from IT sector is driving market growth, with a
trend towards integration of latest technologies into log
management. However, integration of latest technologies into
log management poses a challenge. Key market players include
Alert Logic Inc., Amazon.com Inc., AT and T Inc., Cisco Systems
Inc., Datadog Inc., Intel Corp., International Business Machines
Corp., LogicMonitor Inc., LogRhythm Inc., McAfee LLC, Micro Focus
International Plc, New Relic Inc., Paessler AG, Rapid7 Inc.,
SolarWinds Corp., Splunk Inc., Veriato Inc., Zoho Corp. Pvt. Ltd.,
Sematext Group Inc., and Graylog.
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Log Management
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
12.63%
|
Market growth
2023-2027
|
USD 2138.85
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
11.98
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
35%
|
Key
countries
|
US, China, Japan, UK,
and Germany
|
Key companies
profiled
|
Alert Logic Inc.,
Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Datadog Inc.,
Intel Corp., International Business Machines Corp., LogicMonitor
Inc., LogRhythm Inc., McAfee LLC, Micro Focus International Plc,
New Relic Inc., Paessler AG, Rapid7 Inc., SolarWinds Corp., Splunk
Inc., Veriato Inc., Zoho Corp. Pvt. Ltd., Sematext Group Inc., and
Graylog
|
Market Driver
Log data generated by new devices is growing rapidly due to the
increased use of IT and IoT technologies. According to Logic
Monitor, this machine data grows 50 times faster than traditional
business data. By applying Machine Learning (ML) to log analysis,
more data can be used to develop algorithms, saving time by
automating the process of identifying patterns in logs. Log
intelligence, or advanced log analysis, is increasingly popular
among businesses. It automatically locates the source of problems
and highlights anomalies in log data, sometimes even preventing
issues before they occur. The integration of predictive analytics,
AI, and ML into log management is a growing trend, expected to
drive the global log management market's growth during the forecast
period.
The Log Management Market is witnessing significant trends in
various sectors. Network devices are integrating log management
capabilities for better IT infrastructure security. Advanced
persistence threats require log analysis for detection and
response. Artificial intelligence and machine learning are
providing analytical advantages for modernization. Emerging
economies offer revenue pockets for open-source log management
solutions. Standard log formats ensure import and export analysis
for domestic and localized businesses. Large enterprises in
healthcare, manufacturing, energy utilities, and finance sectors
invest in professional services, managed services, consulting,
training, and support. Cloud and on-premises solutions cater to
diverse needs. Sumo Logic leads in cloud-based log management,
while cyberattacks drive demand for threat intelligence. Business
intelligence and predictive analytics are key applications. SMEs
and hybrid IT environments also require log management programs.
SaaS and IT infrastructure security are growing areas of
focus.
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Market Challenges
- The log management market faces a significant challenge due to
the high cost of implementing and maintaining log management
solutions. This cost includes software licensing, system design,
implementation, training, and ongoing maintenance. Hiring IT staff
for implementation and training adds to the expense. On-premises
solutions require in-house IT administration, increasing costs
further. Additionally, continuous monitoring for new
vulnerabilities and hacking attempts drives up the cost of data
security systems. These factors may hinder the market's growth
during the forecast period. With the increasing number of
vulnerabilities and cyber threats, businesses must invest more in
data security, leading to higher log management costs.
- The log management market is experiencing significant growth
due to increasing challenges in system performance, technical
problems, resource management, and security. Businesses face
cybersecurity concerns as they deal with event logs from various
sources such as systems, services, energy and utilities, cybercrime
reports, and consumers. Log data from perimeter devices, Windows
event logs, endpoint logs, application logs, proxy logs, and IoT
logs must be managed effectively to identify security
vulnerabilities and malicious activities. Log management solutions
must be user-friendly, automate and orchestrate processes, offer
cross-platform compatibility, and integrate machine learning for
user behavior analytics. The market caters to enterprises of all
sizes and industries, including energy and utilities, healthcare,
finance, and retail. Strategic agreements and collaborations with
Microsoft and other technology providers ensure robust security
controls and compliance with stringent regulations like those set
by the Australian Signals Directorate. The log management market
continues to evolve with the adoption of cloud services and the
proliferation of IoT devices, requiring advanced capabilities to
manage and analyze log data at scale. Companies must stay informed
about cyber threats and invest in awareness and education to
mitigate risks.
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challenges - Request a sample report!
Segment Overview
This log management market report extensively covers market
segmentation by
- Component
- 1.1 Solution
- 1.2 Services
- Deployment
- 2.1 On-premises
- 2.2 Cloud-based
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Solution- The log management market is
segmented into services and solutions based on components. The
solution sector is expected to lead the industry due to increasing
demand from businesses for security, productivity enhancement, and
cost-effective management solutions. Log management solutions help
manage application, security, and system logs, allowing recognition
of various events such as alerts, errors, audit failures, and
successes. Centralizing log data from multiple sources in one
location offers numerous benefits, including improved network and
application data access, enhanced security, and streamlined
compliance reporting. This trend is projected to fuel the growth of
the solution segment in the global log management market.
For more information on market segmentation with geographical
analysis including forecast (2023-2027) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The log management market is a growing segment in the IT
industry, driven by the increasing importance of managing and
analyzing log data for various purposes. Log data, including audit
records and event-logs, are crucial for IT infrastructure
management, system performance monitoring, and identifying
technical problems. With the rise of cyberattacks, log management
has become essential for security reasons as well. Businesses of
all sizes and industries are adopting log management solutions to
gain valuable insights from their machine data. Cloud-based log
management is gaining popularity due to its flexibility and
cost-effectiveness. Advanced technologies like predictive
analytics, AI, and ML are being integrated into log management
programs to enhance threat intelligence and improve resource
management. Log management services are also available to help
organizations manage their log data effectively and efficiently.
Log management is not just about IT infrastructure management but
also about security. It helps in detecting and responding to
security threats in real-time. Log data analysis can provide
valuable insights into user behavior, system performance, and
potential vulnerabilities. With the increasing complexity of IT
environments, log management has become an essential component of
IT deployment and a critical part of enterprise operations.
Market Research Overview
The Log Management Market is witnessing significant growth due
to the increasing number of cyberattacks and the need for Business
Intelligence. Cloud-based log management solutions are gaining
popularity, offering predictive analytics, AI, and ML capabilities
for Threat Intelligence. IT infrastructure, including SMEs,
requires effective log analysis for System Performance and Resource
Management. Security is a major concern, with Hybrid Information
Management solutions addressing Security Risk in various
industries, including Energy and Utilities. SaaS programs offer
affordable solutions for SMEs, while large enterprises prioritize
strategic agreements and collaborations. Log data, including Event
logs, Audit records, and Audit trails, are crucial for Security
Controls and Network logs, providing insights into Security
Vulnerabilities and Malicious Activities. Modernization and the
adoption of IoT proliferation necessitate Automation and
Orchestration, while User-friendly interfaces and Cross-platform
compatibility are essential for user experience. Emerging economies
offer Revenue Pockets, and Open-source solutions and Standard log
formats cater to the needs of various Enterprise Sizes and Industry
Verticals. Professional Services, Managed Services, Consulting,
Training and Education, Support and Maintenance, and Cloud or
On-premises deployment options are available to meet diverse
business requirements. The Log Management Market is expected to
grow further due to Cybercrime reports, Consumers' increasing
awareness and education, and the integration of Machine Learning
and User Behavior Analytics. Security concerns continue to drive
market growth, with the Australian Signals Directorate and
Microsoft products leading the way in Cybersecurity.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Component
-
- Deployment
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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