Log Management Market

New Product Developments, to Achieve Growth in the Global Log Management Market.

Log management is a process of collecting, archiving, managing, and reporting logs that are generated from various devices, such as firewalls, routers, servers, switches, and other log sources. Log management solutions deal with huge amounts of computer-generated log data. The main objective of log management is to track security events and network activities. MarketsandMarkets forecasts that the log management market size will 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 sophistication levels in cyberattacks are increasing and creating demands for more comprehensive log management solutions that would enable the protection of complex network infrastructures.

The key players in the log management market include 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). These players have adopted various strategies, such as partnerships, agreements, and collaborations; acquisitions; and new product developments, to achieve growth in the global log management market.

The log management market witnessed a lot of partnerships, agreements, and collaborations by key players from 2015 to 2017. In March 2015, IBM partnered with Deloitte to create risk management and regulatory compliance solution for enterprises. In November 2016, Intel Security joined with Check Point, Huawei, and other industry-leading companies to extend its partner ecosystem and provide integrated offerings to the customers, securing their Information Technology (IT) infrastructure. In October 2016, LogRhythm signed a distribution agreement with StarLink Communications, a provider of biometric solutions. With this agreement, StarLink helped LogRhythm to sell and install its products to enterprises in the Middle East, Turkey, and Africa.

The key players also adopted the strategy of acquisitions to increase and expand their product portfolios to untapped markets. In April 2016, Alert Logic acquired Click Security to provide enhanced threat detection and incident analysis capabilities to its customers. In September 2016, SolarWinds acquired AppNeta’s TraceView product, a Software-as-a Service (SaaS) based Application Performance Monitoring (APM) product, to help clients manage their networks, servers, and applications in the cloud. In July 2015, Splunk acquired Caspida to enhance its cybersecurity offerings. Furthermore, in July 2015, Splunk also acquired Metafor, a provider of IT security solutions. As a result of this acquisition, Splunk expanded its Security Information and Event Management (SIEM) and log management capabilities and helped customers to defend against malicious cyber-attacks.

The major players also launched new products to strengthen their product portfolios and expand their offerings to new clients. In February 2017, AlienVault launched the Unified Security Management (USM) platform which would provide effective threat detection, incident response, and compliance management across on-premises and cloud environments. In November 2016, LogRhythm launched a new security intelligence and analytics platform, LogRhythm 7.2 which offered efficient and powerful threat management capabilities. In December 2016, Loggly launched a new log analysis technology tool, Gamut Search, to instantly respond to massive data volumes across enterprise IT environments. In April 2017, Veriato launched two solutions, namely, Veriato Recon and Veriato 360 to help organizations to easily detect and respond to advanced insider threats.

Log management vendors are continuously adding innovations to their products and services to protect sensitive applications, networks, and connected devices from real-time behavioral anomalies and advanced threats. Furthermore, log management services are increasingly adopted in various verticals, such as Banking, Financial Services, and Insurance (BFSI), energy and utilities, government and public utilities, healthcare, IT and telecom, and retail. This has led to the growth of the log management market across the globe.

Related Reports:

Log Management Market by Component (Solution and Services), Deployment Mode (Cloud and On-Premises), Organization Size, Vertical, and Region - Global Forecast to 2022

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Report Code
TC 5251
Published ON
May, 2017
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