The global log management software market is anticipated to witness significant growth owing to increasing use of IT applications and the need for a high volume high-speed data. The industry largely untapped and is expected to be lucrative due to the commercialization of IT and extensive applications across various industry verticals.
The industry recently has picked up and is expected to experience increasing demand over the next decade. Additionally, as a result of increasing data requirements, this software is integral to Advanced Persistent Threat (APT) defense through establishing a baseline to monitor enterprise networks for anomalous behavior.
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The software is presumed to be the last chance to find malicious binary codes before an actual security breach or a cyber attack detonates. Hence, the association of such software with security and network data is the key factor responsible for the popularity of this industry.
The financial services sector is expected to be the prime growth driver and is experiencing a growth in compliance guidelines. This growth can be attributed to increasing application of such software in the BFSI sectors. Moreover, the government sector applications are expected to witness growth mainly due to an increase in and data requirements.
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The market is expected to incorporate considerable opportunities over the forecast period. Large corporate organizations are anticipated to have increasing needs for storage and processing due to increase in infrastructure and the use of computing equipment. Rapid evolution of enterprise IT infrastructure is presumed to increase the data. Thus, the necessity for reassessment and automation of data auditing methods arises.
Enterprises these days deal with huge amount of data during their everyday operations. Such amount of data, the rate of incoming data, and data accumulation coupled with the lack of consistent data formatting are expected to hinder industry growth. Small companies find it very difficult to view the information on systems through the conventional event viewers. Moreover, devices such as routers, wireless access points, and some firewalls are not programmed to store information for longer period and, hence, need to be managed in order to use it effectively.
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