The Log Management Market size is expected to grow from US$ 2,036.46 million in 2020 to US$ 5,216.67 million by 2028. It is estimated to grow at a CAGR of 12.8% from 2021 to 2028.

Impact of COVID-19 Pandemic on Log Management Market

North America has the highest rate of advanced technology adoption due to favorable government policies fostering innovation and enhancing infrastructural abilities. As a result, every factor affecting the region’s industrial performance obstructs its economic development. According to the Center for Strategic and International Studies, due to the COVID-19 impact, the US experienced a contraction in GDP. As per the recent World Health Organization (WHO) statistics, the US was the world’s worst-affected country due to the COVID-19 outbreak, with the highest number of confirmed cases and deaths. The high number of COVID-19 cases negatively impacted the country’s and region’s economies. There has been a decline in overall business activities and growth of various industries operating in the region. Thus, this affected the revenue of key market players revenue in North American log management market.

Until airport operations ceased by the governing authorities, continuously declining passenger counts at airports led the airports to observe a downfall in revenue generation. The region had several airport constructions and expansion projects in the pipeline, which were expected to be completed by 2020 and 2021. The temporary shutdown of construction activities resulted in a slower adoption rate of technologies, hampering the Log Management Market share.

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The log management market analysis by deployment, is segmented into cloud-based and on premise. Log management market analysis, based on organization size, is segmented into small & medium enterprises and large enterprises. Based on industry type, the market is segmented into It & telecom, BFSI, healthcare, retail & commerce, education, and others. Based on geography, the global market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

The overall log management market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and log management forecast concerning all the market segments. Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic. Participants in this process are industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the log management market.

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Increasing digitalization, cloud usage, and the subsequent rise in data generated create a lucrative outlook for the advanced persistent threats (APTs). APTs hamper the productivity of businesses and damage critical information technology (IT) infrastructure and data of organizations. The intent of APTs is often to steal data than to damage the network. Sectors with high-value information, including defense, manufacturing, finance, and telecom, are the most common targets for APT attacks. Increasing social networking trend is also mainly targeted by APT attackers.

Such sophisticated cyberattacks often go undetected, and even if detected, it takes a lot of time for remediation. Events that occur during cyber-attack-related activities are also stored as logs. Actual time log analysis of such logs integrated with technologies, such as centralized log analysis, can help an enterprise identify and detect the occurrence of a cyberattack, generate an alert for the same, and take necessary action for mitigating a cyberattack. For instance, SolarWinds Worldwide, LLC provides an APT security platform for advanced persistent threat defense with the help of centralized log analysis and reporting. The SolarWinds’ centralized log analysis and reporting tool are critical in the APT defense toolbox. Critical aspects of an APT attack can remain hidden without centralized logging, such as the attack moving laterally across environments. Further, with centralizing log management tools, SolarWinds’ Security Event Manager (SEM) can help admins catch potential errors and suspicious traffic patterns by providing real-time visibility. The centralized log analyzer is designed to provide information such as source machine IP, event name and severity, time of insertion/detection, and protocol usage. Therefore, the advanced persistent threats can easily be traced through a centralized log analysis system. Thus, using a centralized log analysis system is a driving factor for log management market growth.

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