Rising Surge in Integration of Artificial Intelligence and Machine Learning Technologies to Create Lucrative Opportunities for Log Management Market during 2021–2028
According to our latest market study on “Log Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Organization Size, and Industry,” the market is expected to grow from US$ 2,246.12 million in 2021 to US$ 5,216.67 million by 2028; it is estimated to grow at a CAGR of 12.8% from 2021 to 2028.
Information technology IT administrators struggle when facing many operational logs and false alarms. With the help of artificial intelligence (AI), log management systems easily manage IT infrastructure and report false errors. Log management tools with AI-enabled features provide enough functionality to reduce the amount of collected operations data into a common, manageable format and then into useful reports, alarms and warnings. Further, currently, in a critical situation where the rate of cyberattacks is increasing, features including AI easily manage large volumes of data. Furthermore, bringing AI features into log management systems opens up a range of opportunities for data-rich IT operators. Adding AI into log detection security allows real-time detection of vulnerabilities and attacks, effectively turning log analysis into an actual monitoring system.
Further, machine learning (ML) application in log management market analysis helps create intelligent algorithms with more information gathered in a log analysis tool. These intelligent log algorithms are used to detect and identify patterns resulting in timesaving as time spent sifting through logs is reduced. Through a log analysis method powered by AI and ML, the deployment of log intelligence is gaining traction among enterprises. Therefore, the log intelligence powered by AI and ML analyzes logs automatically, finds the root cause of issues, and surfaces anomalies within log data. It also helps organizations prevent an issue even before its occurrence. Thus, the surge in the integration of AI and ML technologies into log management market analysis helps create opportunities for the log management platform developers due to its high acceptance rate among large and small global enterprises.
Based on component, the market is bifurcated into solutions and services. In 2021, the solutions segment led the market and accounted for a larger log management market share. Based on deployment, the market is bifurcated into on premise and cloud based. In 2021, the cloud based segment accounted for a larger market share. Based on organization size, the market is bifurcated into small & medium enterprises and large enterprises. In 2021, the large enterprises segment led the market and accounted for a larger log management market share. Based on industry, the market is segmented into IT & telecom, BFSI, healthcare, education, retail & ecommerce, and others. In 2021, the IT & telecom segment led the market and accounted for the largest log management share. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest log management market share.
Impact of COVID-19 Pandemic on Log Management Market
Businesses faced new challenges due to the COVID-19 pandemic and the development of remote work environments. Further, as per log management market analysis in 2020, the COVID-19 pandemic arrival in 2020 prompted a slew of challenges for global market operations. Healthcare infrastructures of developed economies collapsed due to the rising number of COVID-19 cases. As a result, the public healthcare emergency requires the governments and market players to intervene and assist in the revival of market operations and revenue through collaborative efforts of research and development initiatives to recover the losses during the forecast period.
With ease in restrictions and reopening of business units, the demand for adoption of IoT platforms, cloud-based solutions, and artificial intelligence experienced a change in spending pattern to more integrated utilization of cloud, analytics, data, and software. From the second half of 2020, market players significantly invested in adopting advanced technologies, leveraging the demand for log management tools to make them more intelligent and secure. The COVID-19 pandemic forced businesses to restructure their business models, focusing on strengthening strategies to achieve growth prospects. Furthermore, the COVID-19 pandemic invoked a rising need for featured log management solutions that enable the application within IoT, cloud platforms, and Artificial Intelligence (AI), which are trending among various industries. Therefore, although the global log management market growth plummeted initially due to the adverse impact of the COVID-19 pandemic and the related regulations. However, it remarkably recovered from the COVID-19 pandemic due to the rise in the adoption of advanced technologies globally.
Alert Logic; Cisco Systems, Inc.; IBM Corporation; Datadog; LogRhythm, Inc.; Splunk, Inc; ManageEngine; SolarWinds Worldwide, LLC; Sematext Group Inc.; and AT&T Inc are a few key players operating in the global log management market. Several other market players have been analyzed to understand the market.
Log Management Market — by Geography, During 2021 to 2028 (%)
Log Management Market Size, Growth and Analysis 2028
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