PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1558153
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1558153
The global IT operations analytics (ITOA) market is valued at USD 26.8 billion in 2024 and is estimated to reach USD 127.4 billion in 2029, registering a CAGR of 36.6% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2019-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | USD (Billion) |
Segments | by Technology, Application, Security & Event Management, Network Management, BPM) |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
With the rapidly changing IT industry and increased complexity of IT environments, a huge amount of operational data is generated. Earlier, enterprises used to rely on traditional data analytics tools that were not efficient which led to less ROI for large operational data. With the introduction of ITOA solutions, organizations could analyze operational data effectively to derive meaningful insights. ITOA solutions help organizations to quickly discover the cause of IT system performance problems and analyze them in a more scalable and cost-effective manner. Organizations can deploy these solutions to analyze significant amounts of operational data obtained from different applications. Deploying ITOA solutions with real-time analytical capabilities provides better analytical results.
"By application, the infrastructure management segment is projected to hold the largest market size during the forecast period."
Infrastructure management involves supervision and optimization of the IT infrastructure, which consists of both physical and virtual elements in an enterprise, including server and storage management. This assures smooth and effective operation of systems, networking equipment, and data centers. Infrastructure management oversees performance and configurations while maintaining hardware and software for the overall IT environment. In this respect, infrastructure management tools in the ITOA market provide real-time insights about the health and performance of IT assets. Routine maintenance activities are carried out to undertake patching, updates, and hardware replacement for avoiding disruptions and system stability. Companies using predictive analytics technology are able to know and prepare for a number of problems in advance, before they begin to affect the company's operations.
"By technology, hybrid segment is registered to grow at the highest CAGR during the forecast period."
Predictive analytics tech helps companies foresee and tackle potential problems before they affect operations. By using past data and machine learning predictive analytics in the ITOA market lets IT teams spot patterns, predict system actions, and stop outages or slowdowns. This capability is particularly important in today's complex IT environments, where failures or downtime can result in severe operational and financial consequences. With seamless and efficient IT operations remaining on the radar of every business, predictive analytics within the ITOA market accelerates very fast and moves to the top of the growth agenda.
"Asia Pacific is projected to witness the highest CAGR during the forecast period."
The Asia Pacific region is currently undergoing rapid expansion and is emerging as the most rapidly growing market in the IT operations analytics market. Most of the organizations have started using analytics in an isolated way to address specific business issues, limiting the potential value to increase performance and efficiency. Countries like China, India, Japan, and South Korea are observing substantial investments in network and security management and anomaly detection solutions that would reduce downtime and total cost of ownership. The increasing adoption of cloud computing in this region provides opportunities to vendors to provide ITOA solutions in cloud. There has been a rapid rise in the demand for ITOA tools that identify security gaps in network infrastructure as well as web and mobile applications. These tools also reduce risks. Organizations have started deploying high-end ITOA solutions for analyzing huge chunks of IT operational data to extract valuable insights.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the ITOA market.
Major vendors offering IT operations analytics solutions and services across the globe are Microsoft (US), IBM (US), Oracle (US), Cisco (US), OpenText (Canada), Hitachi (Japan), Dynatrace (US), Broadcom (US), SolarWinds (US), BMC Software (US), NetApp (US), Elastic (US), Nexthink (Switzerland), HCL Technologies (India), New Relic (US), ServiceNow (US), Dell Technologies (US), HPE (US), Cloud Software Group (US), Veritas Technologies (US), BigPanda (US), ExtraHop Networks (US), Squadcast (US), ScienceLogic (US), Apica (Sweden), Diamanti (US), MCG (Denmark), Evolven (US), XPLG (US), HEAL Software (US), Sumo Logic (US), Devo (US), meshIQ (US), and CloudFabrix (US).
Research Coverage
The market study covers IT operations analytics (ITOA) across segments. It aims at estimating the market size and the growth potential across different segments, such as offering (solutions [cloud & on-premises] and services), technology, data source, application, end user and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market for IT operations analytics and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.