Log Management Market is expected to USD 1,248.9 million by 2022
LONDON, June 6, 2017 /PRNewswire/ -- Highlights
· Increasing Advanced Persistent Threats (APTs) is expected to drive the log management market.
· The log management market size is expected to grow from USD 707 million in 2017 to USD 1,248.9 million by 2022, at a Compound Annual Growth Rate (CAGR) of 12.1%.
· The log management market is driven by various factors, such as increasing APTs, strong regulation and compliance requirements, and increasing network complexities, and growth in the number of network devices.
· However, easy availability of free and open-source log management solutions may restrict the log management market's growth.
· Managed services segment is expected to grow at the highest CAGR during the forecast period.
· Managed services are used to decrease operational overhead and risks, and they also help to manage the network operational processes by reducing the complexities of networked infrastructure.
· The Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest share in the log management market in 2017.
· The BFSI vertical is expected to have the largest market size during the forecast period.
· Banks are highly susceptible to cyber-attacks and security threats because of their multi-channel distributed nature, and the fact that they are the richest source of identities and provide direct access to monetary assets.
· Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period.
"Increasing Advanced Persistent Threats (APTs) is expected to drive the log management market."
The log management market size is expected to grow from USD 707 million in 2017 to USD 1,248.9 million by 2022, at a Compound Annual Growth Rate (CAGR) of 12.1%. The log management market is driven by various factors, such as increasing APTs, strong regulation and compliance requirements, and increasing network complexities, and growth in the number of network devices. However, easy availability of free and open-source log management solutions may restrict the log management market's growth.
"Managed services segment is expected to grow at the highest CAGR during the forecast period."
Managed services are used to decrease operational overhead and risks, and they also help to manage the network operational processes by reducing the complexities of networked infrastructure. Additionally, a major trend influencing the log management market is the complexity of advanced technologies, such as IoT infrastructure and operating system. Due to this complexity, users need guidance and therefore, consulting and managed services are expected to witness a high growth in the upcoming years.
"The Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest share in the log management market in 2017."
The BFSI vertical is expected to have the largest market size during the forecast period. Banks are highly susceptible to cyber-attacks and security threats because of their multi-channel distributed nature, and the fact that they are the richest source of identities and provide direct access to monetary assets. Due to the early adoption of IoT applications, the BYOD trend, and growing usage of web and mobile applications for banking transactions and payments, the market for log management in the BFSI vertical is dominating the market.
"Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period."
APAC includes emerging economies, such as China, Australia, Singapore, and India, which are rapidly deploying log management solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the increasing adoption of IoT and BYOD trends in many industry verticals, such as BFSI, government, Information Technology (IT) and telecom, healthcare, and retail. Furthermore, North America is expected to have the largest market size in 2017.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives of various key organizations operating in the log management market.
- By Company Tier 1: 50%, Tier 2: 30%, and Tier 3: 20%
- By Designation: C-Level: 60%, Director Level: 20%, and Others: 20%
- By Region: North America: 15%, Europe: 15%, APAC: 40%, and RoW: 30%
The report includes the study of key players offering log management services, such as IBM Corporation (New York, US), Intel Security (California, US), SolarWinds Worldwide, LLC (Texas, US), Splunk Inc. (California, US), LogRhythm, Inc. (Colorado, US), Alert Logic (Texas, US), Loggly, Inc. (California, US), AlienVault (California, US), Veriato, Inc. (California, US), and Blackstratus, Inc. (Palm Beach, US).
Research Coverage
The report covers log management services across different verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as component (solution and services), deployment mode, organization size, vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall log management market and the subsegments. This report will help stakeholders understand the competitor landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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