According to a research report Log Management Market by Component (Solution and Services), Organization Size (Large Enterprises and SMEs), Deployment Mode (Cloud and On-premises), Vertical (IT and ITeS, BFSI, Healthcare, Telecom, and Education) and Region
The global Log Management Market size is expected to grow from USD 2.3 billion in 2021 to USD 4.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9% from 2021 to 2026, according to new research report by MarketsandMarkets™
Browse in-depth TOC on “Log Management Market"
336 - Tables
41 - Figures
242 - Pages
Download PDF Brochure: www.marketsandmarkets.com/pdfdown…gn=paid+pr
Increasing sophistication of cyberattacks necessitating log management for early detection of cyberattacks, presence of stringent government regulations and compliances, and generation of large data due to increased dependence on IT infrastructure to boost the growth of Log Management market across the globe during the forecast period. Moreover, rising demand for business intelligence, rising trend of cloud-based log management practices, and integration of technologies such as predictive analytics, AI, ML into log management would provide lucrative opportunities for Log Management market vendors.
By deployment mode, cloud based segment to hold the largest market size during the forecast period
To reduce the cost and complexity of the security process and to ensure compliance with external and internal requirements, effective management of log data is essential. Cloud-based log management helps businesses to cost-effectively collect, normalize, and report on enterprise-wide security-related data necessary for compliance and security investigations.
Cloud-based log management services accelerate search and analysis to help clients quickly identify errors and determine root causes for faster troubleshooting. According to Loggly, cloud-based log management and analytics service are easy to set up without any complex configuration requirements.
Cloud-based log management seamlessly aggregates structured and unstructured logs in a centralized repository that offers better visibility across distributed security environments and allows clients to manage all logs from a single screen. Cloud-based deployment of log management solutions and services is expected to witness increased adoption during the forecast period.
In vertical, telecom to grow at the highest CAGR during the forecast period
With a tremendous surge in mobile data usage and a shift in the telecom industry from voice to data, log management is becoming a necessity for all telecom service providers. To safeguard the public from threats, such as cybercrimes, cyberbullying, cyber terrorism, and to help Law Enforcement Agencies (LEAs) with their investigations, regulatory authorities across the globe have recommended telecom and internet service providers to gather traffic information of their users, which may help LEAs with their investigations.
This is necessitating the demand for efficient log management solutions and services, as telecom service providers need an efficient log management system in their network that complies with government norms by gathering and managing the online logs of the subscribers as per government regulations.
In region, APAC to grow at the highest CAGR during the forecast period
APAC has been one of the fastest-growing markets in terms of mobile workforce expansion, propagated with the rising adoption of mobile devices in this region. Countries in APAC such as Australia, China, and Japan have widely adopted log management to protect data from being stolen.
According to research, APAC leads to adopting advanced technologies. Developing countries such as India are moving toward the rapid digitalization of processes by different initiatives taken by governments, such as Digital India, and the increased use of mobile applications and web-based applications across sectors, such as BFSI, retail, and IT.
According to Sophos, organizations in APAC state that they are becoming more mature with cybersecurity, but they continue to be hit by several attacks; for instance, the company observed 56% of organizations suffering from a successful attack in 2021, up from 32% in 2019. According to the Malwarebytes State of Malware report 2019, Asian countries, such as Australia, the Philippines, Indonesia, India, Thailand, and Malaysia, are more susceptible to malware infections, such as crypto mining, backdoors, and information thefts.
Inquiry: www.marketsandmarkets.com/Enquiry…gn=paid+pr
Key Market Players
Major vendors in the global Log Management market include IBM (US), Splunk (US), Solarwinds (US), Rapid7 (US), Micro Focus (US), RSA (US), McAfee (US), Alert Logic (US), Manage Engine (US), LogRhythm (US), Sumo Logic (US), BlackStratus (US), LogDNA (US), Logit.io (UK), Paessler AG (Germany), Sematext (US), Xpolog (US), Humio (UK), Logz.io (Israel), Anodot (US), Loom Systems (US), Chaos Search (US), Coralogix (US), Datadog (US).
Regional Analysis for Log Management Market
- North America: The Log Management industry has been significantly fueled by North America, especially the United States. Businesses, financial institutions, and governmental agencies that were early adopters of log management and SIEM solutions are highly concentrated in the area. Adoption of log management solutions has been prompted by the need to ensure compliance with stricter data protection requirements like HIPAA and PCI DSS. The area also places a lot of emphasis on cybersecurity, with many businesses investing in log management to quickly identify and address security incidents.
- Europe: The log management market has had consistent expansion in Europe, which includes nations like the UK, Germany, and France. Since GDPR requires strict data protection procedures, including effective log management and incident response capabilities, it has been a major motivator. To protect sensitive client data, European financial institutions and healthcare organisations were early users of log management solutions.
- Asia-Pacific: The log management industry has expanded quickly in the Asia-Pacific region, which includes nations like China, India, Japan, and South Korea. Demand for log management solutions has increased as a result of rising cyberthreats, government cybersecurity measures, and more business digitization. There are also an increasing number of technological firms in the area that provide log management solutions.
- Latin America: With nations like Brazil and Mexico demonstrating growing interest in log management and SIEM solutions, Latin America is a developing market for log management. Investments in log management are being made by regional financial institutions and governmental organisations to better prevent cyberthreats and comply with data protection laws.
- Middle East and Africa: Growing interest in log management solutions for security and compliance has been observed in the Middle East, particularly in the Gulf Cooperation Council (GCC) nations. Early users in the region include financial institutions, government agencies, and oil and gas corporations. Africa is gradually implementing log management solutions, mostly due to compliance needs and worries about cybersecurity.
Factors that Drive Log Management Market
- Cybersecurity Concerns: Organisations now need more than ever to keep an eye on and analyse logs for security issues due to the frequency and sophistication of cyberattacks that are becoming more sophisticated. Forensic analysis, incident response, and threat detection all depend on effective log management.
- Regulatory Compliance: Organisations must retain and secure log data in accordance with strict data protection and privacy standards like GDPR, HIPAA, PCI DSS, and CCPA. Log management systems are increasingly being adopted to provide data security and auditability due to compliance regulations.
- Data Privacy: Data security is of utmost importance. Log management is crucial for keeping track of data breaches and unauthorised access since organisations need to monitor and secure access to sensitive information.
- Incident Detection and Response: Log management is a crucial part of incident detection and response plans for cybersecurity incidents. Log data is used by businesses to spot security risks and instantly address events.
Browse Other Reports:
Video as a Service Market – Global Forecast to 2026
AI Governance Market – Global Forecast to 2026
Metadata Management Tools Market – Global Forecast to 2026
Digital Map Market – Global Forecast to 2026
Privacy Management Software Market – Global Forecast to 2028
News From
MarketsandMarkets™ Category: Market Research Publishers and Retailers Profile: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, w ...
