Analyst Firm Reports Splunk Moves into Leading Position in IT Operations Management and Security Information & Event Management Markets
SAN FRANCISCO--(BUSINESS WIRE)--Oct. 16, 2019--
Splunk Inc. (NASDAQ: SPLK), provider of the Data-to-Everything Platform, today announced that it was ranked No. 1 for 2018 market share in the IDC Worldwide ITOM Software Market Shares, 2018, report* and ranked No. 1 for 2018 market share in the IDC Worldwide Security Information and Event Management Market Shares, 2018, report.** In both reports IDC cites Splunk growth in the double digits.
“Our customers are at the forefront of digital transformation and understand the value that data provides to their business,” said Sendur Sellakumar, Chief Product Officer, Splunk. “We’re honored by the trust our forward-thinking customers have put in the Splunk® platform to deliver outcomes across their entire organization, and in particular in the IT and Security domains. The market share reports reflect the investments our customers have made in advancing their data journey and recognize that Splunk can play a leading role for these organizations.”
Splunk Takes No. 1 Position in IT Operations Management Market
IDC’s Worldwide ITOM Software Market Shares, 2018 report finds Splunk is the market share leader in 2018 with 11.9 percent market share. Splunk achieved the largest increase in market revenue among ITOM vendors. IDC estimates the worldwide ITOM market grew by 15.5% in 2018 and is valued at $9.7 billion.
According to the report, Splunk's continued rapid growth is based on analytics with big data capture, indexing, management, search, and visualization capabilities that extend across a wide variety of data sources including metrics and logs. For this analysis, IDC evaluated Splunk solutions including Splunk IT Service Intelligence (ITSI) and Splunk Insights for Infrastructure as supported by the Splunk platform. Download the IDC Worldwide ITOM Software Market Shares, 2018.
Splunk Takes No. 1 Position in Security Information and Event Management Market
In this year’s report, IDC Worldwide Security Information and Event Management Market Shares, 2018, IDC estimates that Splunk has the No. 1 market share overall, growing in double digits year-over-year. The report evaluates market share by size of business. Additionally, IDC reports that Splunk has the No. 1 in market share in the segments with 1,000 – 2,499 employees and 2,500 – 9,999 employees.
IDC estimates that global security information and event management (SIEM) products and service providers improved revenue by 12.4% in 2018, realizing sales of just over $3 billion. According to IDC, SIEM has a central and critical role in the overall cybersecurity posture of organizations. The larger organizations become, the more critical the SIEM’s role. For this analysis, IDC evaluated Splunk solutions including Splunk Enterprise Security (ES), Splunk User Behavior Analytics (UBA) and Splunk Phantom. Download the IDC Worldwide Security Information and Event Management Market Shares, 2018.
*IDC Worldwide IT Operations Management Software Market Shares, 2018: Monitoring, Log Analytics, Hybrid IT Drive Strong Growth, Doc #US4513041, June 2019
**Source: IDC Worldwide Security Information and Event Management Market
Shares, 2018: By Size of Business — The Attempt to Serve All Client Needs, Doc #US45161819, June 2019
About Splunk Inc.
Splunk Inc. (NASDAQ: SPLK) turns data into doing with the Data-to-Everything Platform. Splunk technology is designed to investigate, monitor, and analyze and act on data at any scale.
Splunk, Splunk> and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2019 Splunk Inc. All rights reserved.
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Source: Splunk Inc.
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