Global Log Management Industry Landscape and Opportunity Assessment, 2020-2025 - SMEs Rapidly Adopting Cloud-Based Network Security Software Solutions Due to Cost-Efficiency
DUBLIN, March 20, 2020 /PRNewswire/ -- The "Log Management Market by Component (Solution and Services [Professional and Managed Services]), Organization Size, Deployment Mode, Vertical (IT and ITeS, BFSI, Healthcare, Retail and eCommerce, Telecom, and Education), and Region-Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global log management market size is expected to grow from USD 1.9 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period.
Factors such as the growing reliance on IT and generation of huge amount of log data security and stringent security compliances and government regulations are expected to drive the growth of the of management market.
The major vendors covered in the log management market include SolarWinds (US), IBM (US), Micro Focus (UK), Rapid7 (US), RSA (US), McAfee (US), Alert Logic (US), ManageEngine (US), Splunk (US), LogRhythm (US), Sumo Logic (US), BlackStratus (US), Graylog (US), LogDNA (US), Humio (UK), Logit,io (UK), Paessler AG (Germany), Sematext Group (US), XpoLog (US), and Logz.io (US).
The SMEs segment to hold higher market share during the forecast period
The Small and Medium-sized Enterprises (SMEs) segment is expected to hold a higher market share during the forecast period. SMEs are increasingly deploying cloud-based log management solutions. The maintenance of active log management requires skills, which is difficult for SMEs due to limited staff. The cloud provides a feasible solution for the adoption of this technology. SMEs have budget constraints and therefore, they prefer cloud-based log management solutions.
Cloud-based solutions are developed keeping in mind the limited budget of SMEs. In the coming years, it is expected that the low cost of the log management solutions would enable SMEs around the world to deploy the solution. The adoption and acceptance of log management by SMEs would enable the expansion of the customer base and enhancement of business efficiency. With the increase in advanced persistent threats (APTs) and targeted attacks, the demand for advanced log management solutions is growing in log management to secure the IT infrastructure by managing logs and network events.
Cloud segment to grow at a higher CAGR during the forecast period
The cloud deployment mode is expected to grow at a higher CAGR, as SMEs are rapidly adopting cloud-based network security software solutions, due to its cost-efficiency. It helps SMEs avoid costs associated with hardware, software, storage, and technical staff. Cloud-based solutions offer a unified platform in the form of Software as a service (SaaS)-based security services to secure business applications. It is also beneficial for organizations with strict budgets for security investments. The cloud deployment mode is the most preferred deployment mode for securing web and mobile applications, and is used by several SMEs due to its ease in maintenance and upgradation.
North America to hold the largest market size during the forecast period
North America is a frontrunner in technological adoption. The log management market in North America is competitive due to the presence of several solution providers. North America is highly regulated and controlled by various government standards and regulations. The major economies in this region are the US and Canada. The US and Canada have been expansively implementing log management applications to maintain compliance with the regulations and improve security and for better troubleshooting.
North America has developed a robust infrastructure for the implementation of these solutions. The small and mid-sized firms across North America were looking for advanced log management solutions that would help it meet government data security requirements. North America is the most highly regulated region in the world with numerous regulations, North American regulations, Federal Energy Regulatory Commission (FERC), Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry Data Security Standard (PCI DSS), and Sarbanes-Oxley (SOX) Act, across industry verticals.
North American companies are quite advanced when it comes to deploying Security information and event management (SIEM) solutions and best practices to their everyday business processes. The other drivers for the increasing demand for log management solutions include the need for regulatory compliance and security concerns. Smaller companies who are looking for enhancing their breach detection and monitoring capabilities are deploying log management solutions. Companies that are focusing on security and compliance reporting requirements are rapidly adopting log management technology. Larger companies that follow a conservative approach in adopting this technology are also deploying log management solutions.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Log Management Market
4.2 Market By Component, 2020
4.3 Market By Service, 2020
4.4 Market Share of Top 3 Verticals and Regions, 2020
4.5 Market By Deployment Mode Size, 2020
4.6 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Reliance on IT and the Generation of a Huge Amount of Log Data
5.2.1.2 Stringent Security Compliances and Government Regulations
5.2.2 Restraints
5.2.2.1 Availability of Open-Source and Free Log Management Solutions
5.2.3 Opportunities
5.2.3.1 Increase in Need of Business Intelligence
5.2.4 Challenges
5.2.4.1 Lack of a Standard Log Format
5.2.4.2 Management of a Huge Amount of Data
5.3 Best Practices for Log Management
5.3.1 Defining Roles and Responsibilities
5.3.2 Establishing Logging Policies
5.3.3 Designing Log Management Infrastructure
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 Payment Card Industry Data Security Standard
5.4.3 Health Insurance Portability and Accountability Act
5.4.4 Federal Information Security Management Act
5.4.5 Gramm-Leach-Bliley Act
5.4.6 Sarbanes-Oxley Act
6 Log Management Market, By Component
6.1 Introduction
6.2 Solution
6.3 Services
7 Log Management Market By Deployment Mode
7.1 Introduction
7.2 Cloud
7.3 On-Premises
8 Log Management Market, By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Log Management Market, By Vertical
9.1 Introduction
9.2 IT and ITES
9.3 Banking, Financial Services, and Insurance
9.4 Healthcare
9.5 Retail and eCommerce
9.6 Education
9.7 Telecom
9.8 Others
10 Log Management Market By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Companies
12 Company Profiles
12.1 Introduction
12.2 Solarwinds
12.3 IBM
12.4 Micro Focus
12.5 Rapid7
12.6 RSA
12.7 Mcafee
12.8 Alert Logic
12.9 Manageengine
12.10 Splunk
12.11 Logrhythm
12.12 Sumo Logic
12.13 Blackstratus
12.14 Graylog
12.15 Logdna
12.16 Humio
12.17 Logit.IO
12.18 Paessler AG
12.19 Sematext Group
12.20 Xpolog
12.21 Logz.IO
12.22 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/mte2um
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article