Log management software is a valuable monitoring platform that proactively seizes issues attacking a network. It also identifies various exceptions and network related issues. Log management platform helps to reduce operational costs, improves management activities through real-time network interruption issue detection system and self-remediation, reduces the additional cost expenditure in business operations.
Global log management software market has been segmented into solution and services on the basis of component. The solution segment in the log management market is anticipated to hold largest market in terms of revenue throughout the forecast period. This is owing to increasing demand for secure IT infrastructure solutions to protect data or information from advanced cyber-attacks, such as ransomware, zero-day attacks, and malware.
The global log management software market has been segmented into banking, financial services, and insurance (BFSI), government, healthcare, IT and telecom, and others on the basis of vertical. The government vertical is anticipated to grow at highest CAGR during next ten years. However, the BFSI vertical is projected to contribute largest market share in terms of revenue in next five years.
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The global log management software market report has been segmented on the basis of component, organization size, vertical, and region. On the basis of region, the global log management software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is considered to be a predominant market owing to the presence of innovative technologies and advanced hardware and software providers in this region. In addition, high awareness of log management platform services among end users is another factor supporting growth of the global log management software market.
Key players operational in the global market include IBM, Cisco Systems, Intel Corporation, Symantec Corporation, SolarWinds Worldwide, LLC., LogRhythm, Inc., Alert Logic, Inc., Loggly, Splunk, and Veriato Inc.