The demand for Global Log Management Market is anticipated to be high for the next five years. By considering this demand we provide latest industry report which gives complete industry analysis, market outlook, size, growth and forecast till 2024. This report will assist in analyzing the current and future business trends, sales and revenue forecasts.
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Asia Pacific industry is expected to grow on a large-scale. Emerging economies in this region are adopting log management systems on a large-scale. The growing demand due to increasing population and availability of labor at minimal costs are the main reasons behind the increasing industry share in countries such as India, China, and Singapore for the log management market.
The log management market service providers are mainly found in North America and Asia Pacific. North America is expected to have the highest market share owing to its advancements in technology, growth in innovation, and high technology adoption rate. In 2017, the U.S. and Canada are anticipated to be the highest revenue-generating economies for log management industry services mainly owing to the presence of businesses, which are majorly focused on the security technologies and R&D.
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End users in the log management market include various retail firms, telecommunication departments, healthcare industries, government administrations, and BFSI providers. The BFSI providers are expected to have a large market share over the forecast timeline. Banks are liable for cybercrimes and security issues. Banks, as well as financial service providers, are relying on the log data for preventing fraud and to make sure various activities occurring on the network meet the necessary regulatory requirements. Increasing usage of IoT devices, BYOD concept, and a growing usage of mobile apps for banking payments are offering ample opportunities for the BFSI segment’s growth in the industry.
The key industry players involved in the log management market include Dell, IBM, Trend Micro, Inc., Juniper Networks, Cisco, Symantec, Intel, Solar Winds Worldwide, LLC, Splunk, Inc., Log Rhythm, Inc., Alert Logic, Loggly, Inc., Alien Vault, Veria, Inc., and Black Stratus, Inc.
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These players are investing huge funds in R&D and are coming up with innovative technologies and new products to maintain their position in the log management market. For instance, Alert Logic is a cloud security provider acquired by Welsh Carson. Through this acquisition, Alert Logic will enhance the scale of the business and meet the rising demand for IT security in the virtualized data centers and cloud platform.