Founded in 2003, Splunk is an American-based software company that develops software for searching, monitoring, analyzing, and visualizing machine-generated data through a web-styled interface in real-time.
Also, the company was recognized as one of the top leaders in the Gartner Magic Quadrant SIEM (Security Information and Event Management) in 2021.
The platform creates visualization, graphs, alerts, and dashboards by collecting, indexing, and correlating data in a searchable repository so companies can extract actionable insights.
Plus, 92 of 100 Fortune companies, including Adobe, Visa, Cisco, Bosch, etc., use Splunk for data management processes; here’s why:
Splunk’s Top Features:
- Generates ROI faster.
- Enables search, monitor, analyze, and visualize, empowering all types of users.
- You can build real-time data apps using the software.
- It provides trends and metrics.
Splunk welcomed total annual recurring revenue (ARR) of $2.63 billion in the second quarter for the fiscal year 2021.
Several products are offered under the umbrella of the company, including IT Service Intelligence, Infrastructure Monitoring, Enterprise, Data Stream Processor, Stream, and a lot more.
Also, Splunk expanded its platform in 2019 with the acquisition of cloud monitoring solution SignalFx for $1.05 billion.
Nonetheless, to maintain its dominance in the industry, the company has to fend off its top competitors and alternative, such as Sumo Logic, LogDNA, etc.
That’s because more and more companies are now investing in R&D and coming up with solutions that seamlessly streamline the company’s data.
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Top 10 Alternatives & Competitors to Splunk
Splunk might be one of the best software solutions providers in the industry, but for sure, it isn’t the only solution out there.
Yes, many companies are now offering products that may perfectly fit your business requirements.
Intrigued? Yes, we are the generation living in a golden era where we have so many options to choose from, and here might be the answer to your business needs.
Elastic
- Founded: 2012.
- Headquarters: Mountain View, California.
Elastic is one of the leading open-source log management solutions and a top alternative to Spunk. The company specializes in self-managed and SaaS solutions for security, observability, logging, and search.
Also, the company offers four distinct tools:
- ElasticSearch.
- Logstash.
- Kibana.
- Beats.
ElasticSearch is a search and analytic tool, Logstash is used for log ingestion and processing, Kibana helps visualize data/information, and Beats gather data and send it to Logstash.
Plus, the company reported a revenue of $608.5 million in 2021, almost an increase of 42% year-over-year.
The biggest plus? Users can install a free version of Elastic that provides them access to the developer community, a plethora of plugins, etc.
However, you need to upgrade to a premium version to unlock dedicated features, such as reporting, statistical tools, access controls, etc.
SolarWinds
- Founded: 1999.
- Headquarters: Austin, Texas.
It is a company that produces software to help businesses manage systems, networks, and Information Technology Infrastructure.
Also, SolarWinds complemented its existing cloud platform by acquiring Loggly in 2018, a cloud-based SaaS solution that structures and aggregates real-time data so users can extract insights.
With over 3200 employees, SolarWinds ended 2021 with a revenue of $719 million.
Log analyzer and Loggly solution have revolutionized the way businesses process their data repository, making it one of the top alternatives to Splunk.
Apart from that, the company also provides users with Orion (an IT management solution) used by over 30,000 companies.
Nevertheless, hackers in 2018 hacked the Orion system and accessed the personal data of almost 18,000 customers, significantly dropping its competitive edge.
But that doesn’t mean it has lost all the customer base Loggly has the potential of fetching Splunk’s users.
Sumo Logic
- Founded: 2010.
- Headquarters: Redwood City, California.
It is a cloud-based data analytic company that provides analytic solutions and log management services emphasizing business intelligence, security, and operations.
Also, the company accelerated its expansion across Japan by launching the cloud security information and event management solution to meet the demand for contemporary observability and security concerns.
Plus, Sumo Logic, with over 800 employees, reported a revenue of $62 million in the third quarter of 2021.
Splunk, as well as Sumo logic, employ machine-generated data to extract actionable IT insights in real-time.
Sumo logic’s key competitive advantage over Splunk is its industry-leading Continuous Intelligence Platform. That’s because the solution automates all; from collection to ingestion to analysis in a matter of a few seconds.
Over 2100 customers across the globe use Sumo Logic’s cloud-native-log analysis to find outliers and anomalies in the data and predict disruptive occurrences.
IBM
- Founded: 1911.
- Headquarters: Armonk, New York.
IBM is a global technology giant in the software industry that provides users with IBM QRadar. Splunk and IBM’s QRadar, are the two most popular security information and event management solutions across the globe.
With over 365,000 employees, IBM generated a revenue of $16.7 billion in the fourth quarter of 2021 and is one of the fiercest competitors to Splunk.
Although both the companies offer robust SIEM solutions, IBM QRadar has a competitive edge over Splunk as it employs powerful User Behavior Analytics to combat insider threats.
What’s more, the platform also detects security log data and network flow traffic using automation. Thus, enabling users to analyze massive amount of data and get insights much faster than Splunk.
LogRhythm
- Founded: 2003.
- Headquarters: Boulder, Colorado.
It is a security company that specializes in security analytics, networking monitoring, security information, and log and event management solutions.
Also, LogRhythm has over 4000 customers in 9 different locations worldwide, elevating their security operations.
Plus, with over 600 employees, the company generates roughly $111.3 million in revenue annually.
Did you know that company’s NextGen SIEM platform has grabbed several awards in its bag? Yes, LogRhytym’s NextGen SIEM solution offers dedicated user behavior and security analytic tools.
XcelEnergy, NASA, Cargill are some of the prominent names in the industry who rely on LogRhythm for their security operations.
McAfee
- Founded: 1987.
- Headquarters: San Jose, California.
It is a device-to-cloud cybersecurity software company with over 6500 employees 18 million subscribers spread in 43 localities. Moreover, it went public in 2020.
Plus, the company attracted 2.8 million new subscribers in 2020; and since then, its customer base has been growing.
McAfee’s product Enterprise is in direct competition with Splunk’s Enterprise. However, McAfee is reorganizing its business to focus solely on consumer cybersecurity.
Also, in 2021, the company sold a few of its Enterprise assets to Symphony Tech for almost $4 billion.
LogDNA
- Founded: 2015.
- Headquarters: Mountain View, California.
It is a technology company that provides users with log management solutions, enabling DevOps teams to streamline their apps log and systems all in a single platform.
The solution provides them with actionable insights so teams can develop and debug their apps.
Plus, the company has raised almost $50 million in funding to introduce a new platform that will take the observability data software, particularly security management, to a whole next level.
LogDNA was also recognized as one of the 20 Rising Stars of Forbes Cloud 100 in 2019. What’s more, the company usually welcomes $15 million in revenue annually.
The best part? The company uses a usage-based pricing model that goes from $1.5 to $3 per GB/month, making it more affordable than Splunk.
Micro Focus
- Founded: 1976.
- Headquarters: Newbury UK.
It is a British multination tech company that offers mission-critical tech solutions to businesses. Micro Focus offers a complete suite of solutions, including identity access management, big data, IT, security analytics, data center solutions, and many more.
With over 10,000 employees, Micro Focus garnered a revenue of $2.9 billion in 2021. Did you know that over 40,000 customers globally rely on Micro Focus solutions to mitigate the risk involved in their IT investments?
Yes, the company offers intuitive hybrid information tech management, analytics, and enterprise DevOps tools assisting businesses to fill the gap between old and new tech.
Trellix
- Founded: 2004.
- Headquarters: Milpitas, California.
It is a cybersecurity company that provides consultancy, security analytics, and threat intelligence solutions. Also, the company for the full 2020 year generated revenue of a whopping $940 million.
Trellix is more specialized in security-related products than Splunk, so if security is one of your biggest concerns, Trellix might fix your security problems.
Why such a big claim? By no means are we saying it’s the only best security solution, but the products are appreciated by over 10,000 customers spread in 103 countries to remove the complexities of cyber security.
Also, over half of the Forbes Global 2000 companies use the Trellix platform to prevent and respond to cyber threats.
What’s more, the company also sold its security products for $1.2 billion to Symphony Tech Group.
Datadog
- Founded: 2010.
- Headquarters: New York City, New York.
Datadog is a SaaS-based data analytic platform that offers observability services and also provides analytic and monitoring tools for DevOps professionals.
Also, the cloud company has over 2500 employees and generated a revenue of $1.03 billion, an increase of almost 70% year-over-year.
The platform also enables IT professionals and DevOps teams to examine their performance data and even carry out event monitoring for cloud and infrastructure services.
What’s more, you can also use the data analytic solution to monitor databases, services, servers, etc. It is one of the top competitors to Splunk, especially when it comes to data observability software.
The Takeaway
To keep up in this fast-paced tech world, businesses across the globe, from large to small enterprises, rely on log management and security solutions for their day-to-day operations.
The software helps organizations fetch valuable information by identifying trends, calculating metrics, and eliminating outliers in the data.
However, Splunk might not be the right solution as it is a little on the pricier end and, on top of that, the ongoing requirement for new users’ onboarding and training.
Nonetheless, there are so many alternatives to Splunk in the industry that you won’t regret giving it a shot. It’s worth considering some of its top competitors, such as Datadog, IBM QRadar, etc., that may fit your business needs.
Choose wisely! Did we forget any of the log management and SIEM solutions? Drop us a message in the comment section!
