IT event and log management market is anticipated to grow at a CAGR of 11.2% during the forecast period. The market growth is driven by the surge in the integration of artificial intelligence (AI) and machine learning (ML) technologies, using a centralized log analysis system.The integration is majorly done due to the multiple benefits offered by the cloud-based log management platform. Some of the benefits include, reduction in complexity, perform the fast searches, and use powerful visualization capabilities to monitor key metrics. . Moreover, the adoption of the platform is increasing by large enterprises and small and medium enterprises (SMEs) for the early detection of cyberattacks. For instance, in a survey conducted on small and medium size enterprises(SMEs) by QuickBooks in the US in March 2022, around 42% of thesurveyedexperienced a cybersecurity breach. Malware was cited by 18% as the most common type of security threat, followed by phishing by17%, and data breaches by16%. Furthermore, website hacking was mentioned by 15%, DDoS attacks by 12%, and ransomware by 10%, as stated by SMEs.
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The global IT event and log management market is segmented based on the component, deployment mode and end user. Based on the component, the market is segmented into solutions and services. Based on the deployment,mode the market is bifurcated into the cloudand on-premises. Based on end-user, the market is sub-segmented into IT, telecom, BFSI, healthcare, and education. Among theend user, the BFSI sector is expected to grow at a significant CAGR over the forecast period, owing to the increase in implementation of the compliance guidelines, as the BFSI industry globally is rapidly shifting toward the adoption of various IT software.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global IT Event and Log Management Market by Component
- Solution
- Services
Global IT Event and Log ManagementMarket by Deployment Mode
- Cloud
- On-Premises
Global IT Event and Log Management Market by End User
- IT and Telecom
- BFSI
- Healthcare
- Education
- Others
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alert Logic, Inc.
- ChaosSearch Inc.
- Coralogix Ltd
- CrowdStrike, Inc.
- Graylog, Inc
- LogRhythm, Inc.
- Logs Hero Ltd.
- Loom Systems Ltd.
- McAfee LLC
- Rapid7
- RSA
- Sematext Group, Inc.
- Splunk Inc
- Veriato Inc.
The Report Covers
- Market value data analysisof 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IT event and log managementmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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