GVR Report cover Log Management Software Market Size, Share & Trends Report

Log Management Software Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Historical Data: ---
  • Forecast Period: 1 - 2025 
  • Industry: Technology

The global log management software market is anticipated to witness significant growth owing to the increasing use of IT applications and the need for high volume high-speed data. The industry largely untapped and is expected to be lucrative due to the commercialization of IT and extensive applications across various industry verticals.

The log management software industry recently has picked up and is expected to experience increasing demand over the next decade. Additionally, as a result of increasing data requirements, this software is integral to Advanced Persistent Threat (APT) defense through establishing a baseline to monitor enterprise networks for anomalous behavior.

The software is presumed to be the last chance to find malicious binary codes before an actual security breach or a cyber-attack detonates. Hence, the association of such software with security and network data is the key factor responsible for the popularity of this log management software industry.

The financial services sector is expected to be the prime growth driver and is experiencing a growth in compliance guidelines. This growth can be attributed to the increasing application of such software in the BFSI sectors. Moreover, the government sector applications are expected to witness growth mainly due to an increase in and data requirements.

The log management software market is expected to incorporate considerable opportunities over the forecast period. Large corporate organizations are anticipated to have increasing needs for storage and processing due to an increase in infrastructure and the use of computing equipment. The rapid evolution of enterprise IT infrastructure is presumed to increase the data. Thus, the necessity for reassessment and automation of data auditing methods arises.

Enterprises these days deal with huge amounts of data during their everyday operations. Such amount of data, the rate of incoming data, and data accumulation coupled with the lack of consistent data formatting are expected to hinder industry growth. Small companies find it very difficult to view the information on systems through conventional event viewers. Moreover, devices such as routers, wireless access points, and some firewalls are not programmed to store information for a longer period and, hence, need to be managed in order to use it effectively.

There is no standard format to access the data logs. There is a considerable difference in data between routers, switches, firewalls, and other sources. Thus, a lack of consistent data formatting poses a challenge to the industry. Moreover, these solutions are expensive to procure, install, and manage. High procurement and maintenance costs along with efficient manpower are the reasons why smaller companies restrict their purchase of such advanced software solutions.

Service providers are majorly concentrated in countries such as the U.S. and Asia Pacific regions. The U.S. is presumed to be a predominant region due to the presence of innovative technologies offering advanced software and hardware. In addition, North America is expected to emerge as a significant market due to high awareness regarding log data assessment services among consumer base along with increasing utilization of advanced technological platforms.

Asia Pacific is expected to be the fastest-growing log management software market over the forecast period owing to increasing demand for data, which in turn is expected to increase the popularity. China and India are presumed to behold considerable growth over the forecast period. Huge demand potential and low labor costs are expected to help China and India emerge as a worldwide hub for log data management industries.

The EMEA is anticipated to show significant growth in the industry over the forecast period, but competition, market saturation, and political instability are expected to impact growth in some regions.

The industry is consolidated with a few players dominating the log management software market share. Major industry participants include Cisco, Cyveillance, Dell, IBM, Intel, Juniper Networks, Symantec, and Trend Micro.

The industry has focused on mergers and acquisitions in the past few years. These companies have also invested significantly in R&D activities to introduce advanced products. For instance, in 2013, Alert Logic was acquired by Welsh, Carson, Anderson, & Stowe for its proprietary log management software solutions.

Other players in the log management software industry such as Alert Logic, ArcSight, LogLogic Inc., LogRhythm, Q1 Labs, RSA, Splunk, and Sumo Logic are expected to gain sizeable market share over the next seven years.

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