According
to the new market research report "Log Management Market
by Component (Solution and Services), Deployment Mode (Cloud and On-Premises),
Organization Size, Vertical, and Region - Global Forecast to 2022",published
by MarketsandMarkets™, the log
management market size is expected to grow from USD 707 Million in 2017 to USD
1248.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 12.1%.
Log
management software help enterprises to improve security and regulatory
compliance. Every computing device in an organization generates hundreds of
gigabytes of logs per day. This huge set of event logs is monitored by the log
management platform to identify security breaches and maintain continuous
security within organizations. The platform protects networks, endpoints, and
devices from various malicious attacks, sophisticated cybercriminals,
ransomwares, and Advanced Persistent Threats (APTs). With the implementation of
log management platforms, public and private organizations can prevent security
threats, cut down business costs, and enhance the information security infrastructure.
Therefore, enterprises are deploying advanced log management solutions and
services to secure networks and endpoints from cyber threats.
Browse and
in-depth TOC on "Log
Management Market"
47
- Tables
52
- Figures
134
- Pages
“Solution
segment is expected to have the largest share in the log management market in
2017.”
The
solution segment is expected to have the largest market share and dominate the
log management market from 2017 to 2022. The major reason for the high adoption
of log management solutions is the increased usage of advanced technologies,
and web and cloud applications within organizations. However, these
applications might contain malicious activities, which may cause significant
data loss. Log management solutions help to minimize the loss of data through
regular control and monitoring of computer generated logs and events.
“The
government and public utilities vertical is expected to grow at the highest
CAGR in the log management market.”
The
Banking, Financial Services, and Insurance (BFSI) vertical is expected to
contribute the largest market share in the log management market. This growth
in the BFSI vertical can be attributed to the increasing usage of mobile
devices and IoT applications for banking and payments. The government
and public utilities vertical is expected grow at the highest CAGR during the
forecast period as these organizations are involved with data and information
of a critical nature, which makes them an obvious target for cybercriminals.
This data might be related to a small project or might be of national
importance. Therefore, higher adoptions of log management solutions are being
observed in the government and public utilities vertical in the recent times.
“North
America is expected to contribute the largest market share, whereas Asia
Pacific (APAC) is projected to grow at the highest CAGR.”
North
America is expected to have the largest market share and dominate the log
management market from 2017 to 2022, due to the presence of a large number of
log management vendors across this region. APAC, on the other hand, offers
potential growth opportunities in the log management market, as there is a wide
presence of Small and Medium Enterprises (SMEs) in this region who are turning
toward log management services to defend against APTs.
The
major vendors in the log management market include IBM Corporation (New York,
US), Intel Security (California, US), SolarWinds Worldwide, LLC (Texas, US),
Splunk Inc. (California, US), LogRhythm, Inc. (Colorado, US), Alert Logic
(Texas, US), Loggly, Inc. (California, US), AlienVault (California, US),
Veriato, Inc. (California, US), and Blackstratus, Inc. (Palm Beach, US).
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