The Log Management Market size is supposed to develop from US$ 2,036.46 million of every 2020 to US$ 5,216.67 million by 2028. It is assessed to develop at a CAGR of 12.8% from 2021 to 2028.
Log the board arrangements are progressively being taken on by banks in North America, perceiving their significance continuously extortion identification inside the banking, monetary administrations, and protection (BFSI) industry. These arrangements computerize the location of information abnormalities and trigger activities to counter them. In June 2021, the Bank of America expanded its network safety spending to over US$ 1 billion every year in light of a progression of clearing cyberattacks. The developing number of banking foundations features the requirement for log the board market arrangements as it expands the danger of cyberattacks.
The major industries that use log management solutions include BFSI, IT & telecom, government, retail & e-commerce, healthcare, manufacturing, and energy & utility. These industries are increasingly adopting advanced technologies to meet high quality and safety standards and comply with government and industry regulations. The key players in the global log management market ecosystem are log management solution providers, system integrators, and end users. With the growing demand for log management solutions to detect advanced persistent threats (APTs) worldwide, solution providers are also experiencing sustainable growth opportunities in the log management market. Major solution providers in this market include Alert Logic, Cisco Systems, Inc., IBM Corporation, Datadog, LogRhythm, Inc., Splunk, Inc., ManageEngine, SolarWinds Worldwide, LLC, Sematext Group Inc., and AT&T Inc.