Global Log Management Market with COVID-19 Impact Analysis 2021-2026: Rising Demand for Business Intelligence - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global 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 - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

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.

The major factors fueling the log management market include the increasing sophistication of cyberattacks necessitating log management for early detection of cyberattacks, the presence of stringent government regulations and compliances, and the generation of large data due to increased dependence on IT infrastructure.

Solutions to grow at a higher CAGR during the forecast period

Log management solutions can be implemented in an organization for identifying various types of events to either manage system logs, application logs, or security logs. These events typically include information, warning, error, success audit, and failure audit events.

According to Graylog, a centralized log management solution gives more ways to store log messages. An on-premises centralized log management solution can track storage use so that users have visibility into their ingest rate. On the other hand, a cloud centralized log management solution lets users see how much storage is left and whether more storage is needed.

A centralized log management solution also helps in aggregating, correlating, and analyzing log data more easily, resulting in rapid detection of security incidents and performance optimization. A centralized log management solution collects logs in whichever format the log is present then standardizes them to the same format to enable faster log analysis.

In the organization size segment, SMEs to have a higher market share during the forecast period

The biggest challenge faced by SMEs for cybersecurity is budget constraints. With a small to medium-sized budget, most SMEs end up giving less importance to the deployment of cybersecurity solutions due to their costly nature. Though SMEs have a less or manageable client base with limited servers, they are exposed to issues, such as hacking attempts by third parties and auditing requirements by governmental or industry regulations.

Monitoring logs at a single place by SMEs results in reducing the possibilities of system downtime and results in various advantages, such as improved customer satisfaction, quick recovery from downtime, and more business intelligence.

The increasing demand for security from SMEs for improving their productivity and the pooling of knowledge base have triggered vendors to provide log management solutions at lower costs. To overcome the challenge of budget constraints, SMEs are moving toward adopting cloud-based log management services.

Market Dynamics

Drivers

• Increasing sophistication of cyberattacks necessitating log management for early detection of cyberattacks
• Presence of stringent government regulations and compliances
• Generation of large data due to increased dependence on IT infrastructure

Restraints

• Presence of open-source log management tools

Opportunities

• Rising demand for business intelligence
• Rising trend of cloud-based log management practices
• Integration of technologies such as predictive analytics, AI, ML into log management

Challenges

• Management of a huge amount of data
• Lack of a standard log format

Impact of COVID-19 On Market Dynamics

• Drivers and Opportunities
• Restraints and Challenges
• Cumulative Growth Analysis

Technology Analysis

• Market: Top Trends
• AI and ML
• Predictive analytics
• Log mining with deep learning

Use Cases

• Use Case 1: Wonga Meets PCI Compliance Needs for SIEM and FIM Using NNT
• Use Case 2: Healthcare Security Team Proves Strong Roi With Logrhythm
• Use Case 3: Logentries Empowers Trackif's Small Engineering Team To Perform Production Monitoring and Debugging In Real Time

   

Porter's Five forces Analysis

• Threat of New Entrants
• Threat of Substitutes
• Bargaining Power of Suppliers
• Bargaining Power of Buyers
• Degree of Competition

Regulatory Implications

• General Data Protection Regulation (GDPR)
• Payment Card Industry-Data Security Standard (PCI-DSS)
• Health Insurance Portability and Accountability Act (HIPAA)
• Gramm-Leach-Bliley (GLB) Act
• Sarbanes-Oxley (Sox) Act
• SOC
• ISO 270

Company Profiles

Major Players

• Splunk
• SolarWinds
• IBM
• Micro Focus
• Rapid
• RSA
• McAfee
• Alert Logic
• ManageEngiine
• Logrhythm
• Sumo Logic
• Blackstratus
• Logdna
• Logit.Io
• Paessler Ag
• Sematext Group
• Xpolog

Startup Players

• Humio
• Logz.Io
• Anodot
• Loom Systems
• Chaossearch
• Coralogixss
• Datadog

   

For more information about this report visit https://www.researchandmarkets.com/r/9vuzhz