Log Management Software Market worth USD 11.8 Billion by 2034 with a CAGR of 18.1%

Increasing commercialization of IT and extensive applications across various industry verticals is a key factor driving the global log management software market. Increasing adoption in the financial services and insurance (BFSI) and banking, owing to increasing acceptance of IoT applications and mobile devices for banking and financial applications are some factors propelling growth of the global market. Development of cloud to framework aiming the conjecture time frame is expected to create lucrative opportunity for players operating in the global log management software market.

The report "Global Log Management Software Market, By Component (Solution and Services), By Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, IT and Telecom, and Others), and Region - Global Forecast to 2034"

Key Highlights:

• In May 2018, for instance, Splunk Inc. has announced the general availability of Splunk® insights for infrastructure, provide low-cost way to easily enable systems administrators and DevOps teams to automatically correlate metrics and logs to monitor IT.

Key Market Insights from the report:          

Log management software market size was valued at USD 2.6 Billion in 2024 and is expected to reach USD 11.8 Billion by 2034 growing at a CAGR of 18.1%. The market report has been segmented on the basis of component, organization size, vertical, and region.

• By component, the global log management software market is segmented into small and medium enterprises (SMEs) and large enterprises.
• By organization size, the global log management software market is categorized into banking sector, insurance sector, financial institutes, government and public sector, retail and e-commerce sector, and automotive sector.
• By vertical, the banking, financial services, and insurance (BFSI) segment is accounted for major revenue share in 2018, due to increasing acceptance of IoT applications and mobile devices for banking and financial applications.
• By region, North America log management software market accounted for major revenue share of the global log management software market and is further anticipated to maintain its dominance over the forecast period. This is owing to rising awareness regarding log data assessment services among consumer base, coupled with high adoption rate among the various industries in the countries of the North America region. Asia Pacific log management software market accounted for second-highest market share, in 2018. This is attributed to increasing demand of data, which in turn is expected to increase the popularity and ascent in appropriation of distributed computing technologies crosswise over different end-client ventures.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Log Management Software Market”, By Component (Solution and Services), By Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, IT and Telecom, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2034

The prominent player operating in the global log management software market includes IBM Corp., SolarWinds Worldwide, Splunk Inc., Coralogix LTD., Datadog, Dynatrace LLC., Elasticsearch B.V., Fluentd Project, Fortra LLC, LogicMonitor Inc., Logpoint, LogRhythm Inc., Nagios Enterprises LLC, Netwrix Corp., New Relic Inc., OpenText, Rapid7, Sematext Group, Sumo Logic, and Zoho Corp. Pvt. Ltd.?

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