DUBLIN–(BUSINESS WIRE)–The “Global Log Management Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Component, Deployment, Organization Size, and Industry” report has been added to from ResearchAndMarkets.com offer.
The log management market size is expected to grow from US$2,036.46 million in 2020 to US$5,216.67 million by 2028. It is estimated to grow at a CAGR of 12.8% from 2021 to 2028.
Banks in North American countries recognize the importance of log management solutions and are gradually adopting these solutions. A log management solution is used for real-time fraud detection in banking, financial services and insurance (BFSI). Log management automates the detection of data anomalies and triggers actions to counter them.
In June 2021, Bank of America increased its cybersecurity spending to more than US$1 billion a year amid a series of large-scale cyberattacks. Hence, the growing number of banking institutions leads to an increase in threats of cyberattacks, hence highlighting the need for market solutions for log management.
Various developers of log management solutions – including Sumo Logic; XPLG; LogRhythm, Inc.; Oracle; and SolarWinds Worldwide, LLC – are present in North America. These solution developers are contributing to the growth of the North American log management market. Log management solutions are widely needed to detect these cyber threats.
These solutions allow developers, IT operators, and security professionals to identify gaps in modern or advanced applications, helping them improve the quality of software code. Plus, advanced log management features provide business intelligence, security analytics, and compliance benefits.
For example, LogRhythm launched a strategic partnership in Eastern Europe and the Commonwealth of Independent States (CIS) to detect, investigate and neutralize cybersecurity threats in 2022, which offers advanced log management solutions.
Major end users of the log management market include BFSI, IT & Telecom, Government, Retail & e-Commerce, Healthcare, Manufacturing, Energy & Utilities. BFSI, IT & Telecom, and government industries are increasingly investing in advanced technologies to ensure high quality and safety standards and to comply with an increasing number of government and industry regulations regarding these parameters.
Major stakeholders in the global log management market ecosystem include log management solution providers, system integrators, and end users. With the growing demand for log management solutions to detect advanced persistent threats (APT) across the globe, log management solution vendors are also witnessing opportunities for sustainable log management market growth.
Some of the leading solution providers are Alert Logic; Cisco Systems, Inc.; IBM Corporation; Datadog; LogRhythm, Inc.; Splunk, Inc.; Manage engine; SolarWinds Worldwide, LLC; Sematext Group Inc.; and AT&T Inc.
Main topics covered:
1.1 Scope of the study
1.2 Reporting guidelines
1.3 Market Segmentation
2. Main Takeaways
3. Research methodology
3.2 Secondary research
3.3 Primary research
4. Log Management Market Landscape
4.1 Market Overview
4.2 PEST analysis
4.3 Ecosystem analysis
4.4 Expert advice
5. Log Management Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Detection of advanced persistent threats using centralized log analysis
5.1.2 Growing use of cloud-based log management platform
5.2 Market Constraints
5.2.1 Availability of open source log management platform
5.3 Market Opportunities
5.3.1 Growing Rise in the Integration of Artificial Intelligence and Machine Learning Technologies
5.4 Future trends
5.4.1 Increased Spending in the Information and Communications Technology Sector Will Drive Future Advances in Log Management Systems
5.5 Impact analysis of drivers and constraints
6. Log Management Market – Global Market Analysis
6.1 Global Log Management Market Overview
6.2 Global Log Management Market Forecast and Analysis
6.3 Market Positioning – Top Five Players
7. Log Management Market Analysis – By Component
7.2 Log Management Market, By Component (2020 & 2028)
8. Log Management Market Analysis – By Deployment
8.2 Log Management Market, By Deployment (2020 & 2028)
8.4 On site
9. Log Management Market Analysis – By Organization Size
9.2 Log Management Market, By Organization Size (2020 & 2028)
9.3 Small and medium enterprises
9.4 Large companies
10. Log Management Market Analysis – By Industry
10.2 Log Management Market, by Industry (2020 & 2028)
10.3 IT & Telecom
10.3.2 IT & TELECOM: Log Management Market Revenue and Forecast to 2028 (Million USD)
10.6 Retail and e-commerce
11. Log Management Market – Geographical Analysis
13. Industry Landscape
13.1 Market initiative
13.2 Merger and acquisition
13.3 New development
14. Company Profiles
Cisco Systems, Inc.
SolarWinds Worldwide, LLC
Sematext Group Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/u9cmnj