Log Management Market Growing at a CAGR 14.1% | Key Player Solarwinds, IBM, Micro Focus, Rapid7, RSA

Log Management Market Growing at a CAGR 14.1% | Key Player Solarwinds, IBM, Micro Focus, Rapid7, RSA

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)
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

The global Log Management Market size is expected to grow from USD 1.9 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. The log management can be deployed on-premises as well as on cloud, as per business requirements. The on-premises deployment allows organizations to control all the systems and data, but they also must pay the cost for hardware, software, and other resources used for its maintenance. It also restricts the storage capacity that is needed to maintain new functionalities and technologies. Cloud-based deployment benefits organizations with increased scalability, speed, 24/7 services, and improved Information Technology (IT) security. The demand for Software-as-a-Service (SaaS)-based security solutions is rapidly increasing, as the central delivery model meets the IT security needs. Owing to increasing number of applications being deployed over cloud, there is a shift from traditional on-premises log management solutions to cloud-based log management solutions across large enterprises and SMEs.

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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.

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). These players have adopted various growth strategies, such as new product launches, business expansions, partnerships, agreements, and collaborations, and acquisitions, to further expand their presence in the global log management market. These strategies have helped them innovate their offerings and broaden their customer base.

IBM (US) was founded in 1911 and is headquartered in New York, US. The company is one of the leading providers of hardware, software, and a broad range of infrastructure, hosting, cloud, and consulting services in areas ranging from mainframe computers to nanotechnology. It operates through six business segments: technology services and cloud platforms, cognitive solutions, global business services, systems, global financing, and others. It offers a diversified product portfolio, ranging from software to finances and storage to integrated systems. IBM provides solutions to various verticals, such as IT, healthcare and life sciences, government, telecom, automobile, manufacturing, Fast-Moving Consumer Goods (FMCG), chemicals and petroleum, electronics, energy and power, media and entertainment, mining, retail, Banking, Financial Services, and Insurance (BFSI), travel and transportation, and education. It has a presence in more than 175 countries, including North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. IBM provides IBM Security QRadar Log Manager Suite, which collects, preserves, and reports network security log events to help enterprises safeguard their IT infrastructure from sophisticated cyberattacks, insider attacks, and advanced security breaches. IBM also offers intelligent log management for the cloud environment. The company’s log management platform scales to support millions of events per seconds, provides comprehensive compliance reporting capabilities, and delivers disaster recovery options.

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Rapid7 (US) was founded in 2000 and headquartered in Massachusetts, US the company is one of the prominent providers of security data and analytics solutions. The company offers advanced solutions in the areas of network security, application security, operations and analytics, and compliance. It offers its cybersecurity solutions to various industry verticals, such as energy, financial services, government, healthcare, retail, and education. The customer base is spread in 131 countries across the globe, including North America, Europe, MEA, APAC, and Latin America. Rapid7 operates through three major business segments: products, maintenance and support, and professional services. The products segment includes vulnerability management, application security testing, orchestration and automation, and log management. The company also offers maintenance and support for its solutions and it also provides professional services to secure organizations from Advanced Persistent Threats (APTs) and vulnerabilities. In the log management market, it offers IinsightOps and InsightIDR as a product. IinsightOps offers features, such as centralize logs, of any source and in any format. It offers immediate alerts when critical events occur along with, live dashboards and scheduled reports.

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