Splunk Ranks First in Both IT and Security Market Share Reports by Gartner
Splunk Inc., provider of the Data-to-Everything Platform, announced it is ranked No. 1 in market share for IT Operations Management (ITOM) in the Gartner Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2020 report* and Security Information and Event Management (SIEM) in the Gartner Market Share: All Software Marketing Worldwide, 2020 report**. In the two reports, Splunk has once again maintained its leading position in both IT and security markets.
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“We have been making material strides in updating our pricing and packaging approaches aligned to customer value, as well as releasing new solutions including the industry’s first full-stack, enterprise-grade Observability Cloud for IT and DevOps teams, along with the new modern security operations platform, Splunk Security Cloud, for security teams”
“As the types, sources and volume of data our customers need to analyze continually grows, having a trusted data-centric platform is imperative for our application development, cybersecurity, IT and business users’ success,” said Sendur Sellakumar, Chief Product Officer, Splunk. “We believe that Splunk’s ranking across both IT and security segments in the Gartner market share reports are a testament to our commitment toward helping customers unlock the power of their data, accelerating their digital transformation journeys and driving impact with the full Splunk portfolio.”
Gartner Market Share reports analyze vendors based on revenue and revenue growth relative to the rest of the market. Splunk is in the midst of a business model change in support of its transition to the cloud, which has had an adverse impact on reported revenues. Splunk reported Fiscal Year 2021 revenues of $2.23 billion. The company reported annual recurring revenue growth of 41% to $2.36 billion for the same period.
“We have been making material strides in updating our pricing and packaging approaches aligned to customer value, as well as releasing new solutions including the industry’s first full-stack, enterprise-grade Observability Cloud for IT and DevOps teams, along with the new modern security operations platform, Splunk Security Cloud, for security teams,” continued Sellakumar.
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Splunk Ranks First in Gartner Market Share Report for IT Operations Management Market
According to the Gartner Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2020 report, Splunk is ranked No. 1 for the ITOM Performance Analysis software market with 7.8% market share, as well as the AIOps, ITIM and Other Monitoring Tools subsegment with 12.7% market share. This is the second year in a row Splunk ranked No. 1 in both segments. Gartner estimates that the entire ITOM performance analysis software market grew 7.2% year-over-year to $13.3 billion, in 2020 with the AIOps, ITIM and Other Monitoring Tools subsegment consisting of $6.1 billion.
For the analysis of Market Share*** Gartner evaluated Splunk IT and observability offerings including Splunk® APM, Splunk Infrastructure Monitoring, Splunk IT Essentials, Splunk IT Service Intelligence (ITSI), Splunk Log Observer, Splunk On-Call, Splunk Real User Monitoring (RUM) and Splunk Synthetic Monitoring.
Splunk Ranks First in Gartner Market Share Report for Security Information and Event Management
This year’s Gartner Market Share: All Software Markets, Worldwide 2020 report places Splunk’s as No. 1 in the SIEM market with 29% market share. This is the third year in a row Splunk’s was named the leader in this segment. Gartner estimates that the entire security market grew 10% year-over-year to $49.7B billion, with the SIEM market consisting of $3.6 billion.
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For the analysis, Gartner evaluated Splunk’s security solutions including Splunk’s Enterprise Security, Splunk’s Mission Control, Splunk’s Phantom, Splunk’s Security Essentials and Splunk’s User Behavior Analytics. For more information on Splunk’s solutions for IT, observability and security, visit the Splunk’s website.
*Gartner, Inc., Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2020; Laurie Wurster and Shailendra Upadhyay, June 11, 2021
**Gartner, Inc., Market Share: All Software Markets, Worldwide 2020, Neha Gupta et al, April 14, 2021
***Gartner, Inc., Market Definitions and Methodology: Software, Neha Gupta et al, 21 July 2020
Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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