Log Management Market Share, trends and Analysis, 2024 : Global Market Insights Inc.
The log management market is providing a variety of services such as log collection, log rotation, log analysis, log search, and reporting. The software is helping enterprises to improve the security and regulatory compliance. These systems help in protecting devices from several risks, malicious attacks, cybercrimes, viruses, and advanced persistent threats. Due to the implementation of these platforms, public and private enterprises can prevent security threats, reduce business costs, and enhance information security infrastructure. In addition, they are helpful in tracking employee actions, which is fueling the log management market demand in the industry.
Increasing complexity of the systems, inflated costs, and time-consuming processes are challenging the log management market growth. Moreover, the easy accessibility to free solutions may hamper the industry growth over the forecast timeline. The speed at which logs are created can make their collection difficult, which is also a challenge faced by the industry. Log events are not always accurate, which makes its use difficult for detection systems.
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In the log management market, some tools have the additional advantage of automatic protection systems such as shutting down systems, immobilizing USB storage capabilities, blocking IP addresses, removing accounts, and completely shutting down machines that are expected to offer ample growth opportunities for the industry.
Moreover, managing of services is helping in decreasing work risks and in handling the network operational processes by combating the difficulties involved in the infrastructure of the systems. The log management market is facing complexity in the integration of IoT and operating systems. To overcome this complexity, the users require training thereby providing an impetus to consulting services, which is expected to witness a substantial growth over the forecast time span. Log management market is also being used to produce technical information to help in detecting and solving various bugs present in the system and examining new features in the development phase.
End users in the log management market include various retail firms, telecommunication departments, healthcare industries, government administrations, and BFSI providers. The BFSI providers are expected to have a large market share over the forecast timeline. Banks are liable for cybercrimes and security issues. Banks, as well as financial service providers, are relying on the log data for preventing fraud and to make sure various activities occurring on the network meet the necessary regulatory requirements. Increasing usage of IoT devices, BYOD concept, and a growing usage of mobile apps for banking payments are offering ample opportunities for the BFSI segment’s growth in the industry.
The log management market service providers are mainly found in North America and Asia Pacific. North America is expected to have the highest market share owing to its advancements in technology, growth in innovation, and high technology adoption rate. In 2017, the U.S. and Canada are anticipated to be the highest revenue-generating economies for log management market services mainly owing to the presence of businesses, which are majorly focused on the security technologies and R&D.
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Asia Pacific industry is expected to grow on a large-scale. Emerging economies in this region are adopting log management systems on a large-scale. The growing demand due to increasing population and availability of labor at minimal costs are the main reasons behind the increasing industry share in countries such as India, China, and Singapore for the log management market.
The key industry players involved in the log management market include Dell, IBM, Trend Micro, Inc., Juniper Networks, Cisco, Symantec, Intel, Solar Winds Worldwide, LLC, Splunk, Inc., Log Rhythm, Inc., Alert Logic, Loggly, Inc., Alien Vault, Veria, Inc., and Black Stratus, Inc. These players are investing huge funds in R&D and are coming up with innovative technologies and new products to maintain their position in the log management market. For instance, Alert Logic is a cloud security provider acquired by Welsh Carson. Through this acquisition, Alert Logic will enhance the scale of the business and meet the rising demand for IT security in the virtualized data centers and cloud platform.
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