Press release
Log Management market is expected to grow from US$ 5,216.67 million by 2028; it is estimated to grow at a CAGR of 12.8 % during 2021-2028
The Insight Partners Published latest research study on "Log Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Deployment (On Premise and Cloud Based), Organization Size (Small & Medium Enterprises and Large Enterprises), and Industry (IT and Telecom, BFSI, Healthcare, Education, Retail and Ecommerce, and Others) The Log Management Market is expected to grow from US$ 2,246.12 million in 2021 to US$ 5,216.67 million by 2028. It is estimated to grow at a CAGR of 12.8% from 2021 to 2028.Players in the log management market will create lucrative opportunities in the coming years, pertaining to the rising surge in the integration of artificial intelligence and machine learning technologies. AI-enhanced log management tools can form part of the arsenal of security detection and response tools in enterprise IT departments. A range of tools previously unavailable or too slow to generate reports currently offer actual-time log monitoring and reporting built using AI. Thus, as AI integration improves, the range of features and functionality also evolves. Through a log analysis method powered by AI and ML, the deployment of log intelligence is gaining traction among enterprises. Therefore, the log intelligence powered by AI and ML analyzes logs automatically, finds the root cause of issues, and surfaces anomalies within log data. It also helps organizations prevent an issue even before its occurrence. Thus, the surge in the integration of AI and ML technologies into log management helps create opportunities for the log management platform developers due to its high acceptance rate among large and small global enterprises. Thus, a rising surge in the integration of artificial intelligence and machine learning technologies is generating high demand for software solutions, supporting the log management market growth.
The growing use of cloud-based log management platforms is driving the log management market's growth as their use is increasing due to their simple deployment and reduced deployment time and cost. Cloud-based log management platform also reduces repair and maintenance costs and enhances customer satisfaction. Therefore, due to the multiple benefits of the cloud-based log management platform, the platform's adoption is increasing by large enterprises and small and medium enterprises (SMEs) for the early detection of cyberattacks, which fuels the growth of the log management market share during the forecast period.
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Impact of COVID-19 Pandemic on Log Management Market
With ease in restrictions and reopening of business units, the demand for adoption of IoT platforms, cloud-based solutions, and artificial intelligence experienced a change in spending pattern to more integrated utilization of cloud, analytics, data, and software. From the second half of 2020, market players significantly invested in adopting advanced technologies, leveraging the demand for log management market tools to make them more intelligent and secure. Furthermore, the COVID-19 pandemic invoked a rising need for featured log management solutions that enable the application within IoT, cloud platforms, and Artificial Intelligence (AI), which are trending among various industries. Although the global log management market plummeted initially due to the adverse impact of the COVID-19 pandemic and the related regulations, it remarkably recovered from the COVID-19 pandemic due to the rise in the adoption of advanced technologies globally.
Log Management Market Insights
Increasing digitalization, cloud usage, and the subsequent rise in data generated create a lucrative outlook for the advanced persistent threats (APTs). APTs hamper the productivity of businesses and damage critical information technology (IT) infrastructure and data of organizations. The intent of APTs is often to steal data than to damage the network. Sectors with high-value information, including defense, manufacturing, finance, and telecom, are the most common targets for APT attacks. Increasing social networking trend is also mainly targeted by APT attackers.
Critical aspects of an APT attack can remain hidden without centralized logging, such as the attack moving laterally across environments. And with centralizing log management tools, SolarWinds' Security Event Manager (SEM) can help admins catch potential errors and suspicious traffic patterns by providing real-time visibility. The centralized log analyzer is designed to provide information such as source machine IP, event name and severity, time of insertion/detection, and protocol usage. Therefore, the advanced persistent threats can easily be traced through a centralized log analysis system. Thus, using a centralized log analysis system is acting as a driving factor for the log management market growth.
Centralized log management helps combine all log data in a single location in a standard format. As data arrives from many places, such as operating systems, apps, servers, and hosts, all inputs must be integrated and standardized before the company can provide useful insights. The analytical process is simplified by centralization, and data can be implemented quickly throughout the company. Organizations can rapidly notice and respond to irregularities by storing and linking data in a single location. Therefore, a centralized log management market system improves data access and the organization's security capabilities.
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Market players adopt strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the market. A few developments by key players in the market report are listed below:
In 2021, N-able (Formerly SolarWinds MSP) Announced a Partnership with DNSFilter to Help MSPs Protect Customers From Online Security Threats With Advanced DNS Technology.
In 2022, AT&T Threat Detection and Response for Government meets key security requirements while providing critical network visibility to help protect data.
Log Management Market-Company Profiles
• Alert Logic
• Cisco Systems, Inc.
• IBM Corporation
• Datadog
• LogRhythm, Inc
• Splunk, Inc
• ManageEngine
• SolarWinds Worldwide, LLC
• Sematext Group Inc
• AT&T Inc
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E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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