IT Operations Analytics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global IT Operations Analytics Market - Snapshot
The professional intelligence studies predict that the global IT operations analytics market expanded at a record breaking annual compound growth rate of 39.15 % over the forecast period of 2020 to 2028.
It also informs the readers that the initial evaluation of the global IT operations analytics market was placed at US$ 10.51 billion at the base year of the study i.e. 2020.
Furthermore, the report also projects that the global IT operations analytics market will surpass the evaluation of US$ 147.67 billion at the end of the forecast years i.e. in 2028.
The increasing number of data centres around the world is the strongest motivators for the global IT operations analytics market.
Furthermore, the increasing usage of digitalized platforms and smart devices is resulting in generation of massive volume of data. This trend is also supporting the expansion of the global IT operations analytics market in coming years.
Additionally, the increasing usage of AI as well as ML enabled technological solutions and the advent and increasing usage of internet of things technologies is also propelling the growth of the global IT operations analytics market.
The global ID operations analytics market is witnessing a hydro, riding on the back of the strength of the offerings of leading vendors. Leading vendors have developed applications and infrastructure which troubleshoot complex problems and provide love management and analysis.
Players are also developing applications that support machine learning and provide predictive solution for preventing future problems.
Heather factors with your pushing the grilled of the global idea operations analysis market is the increasing adoption of bring your own device. The growth in the IT operation day detective as well as widespread use of internet of Things in industries in organizations is driving the growth of the global ideal operations analysis market. On the other hand, the frequently changing IT infrastructure as well as operations so as to align with the dynamic and changing demands of business environments with pose a challenge for the growth of the global IT operations analytics market.
In terms of deployment type, the on-demand segment within the global IT operational analytics market will expand at the fastest pace in the years to come. The growth of the cloud-based deployment segment will be extremely high primarily due to the growing adoption of cloud for ITOA solutions by organizations due to benefits such as effective monitoring of data, reduced cost of physical infrastructure, and ease of access.
Global IT Operations Analytics Market: Overview
IT operations analytics (ITOA) is an emerging technology used by several enterprises to understand complicated patterns. The systems are designed to scour humungous amount of data using mathematical algorithms and other extraction mechanisms to retrieve meaningful information. The tool used by end users in the global ITOA market are machine-based learning, visual analytics, user-behavior analytics, predictive analytics, and root-cause analytics.
Global IT Operations Analytics Market: Key Trends
The mushrooming IT industry in various parts of the world has been the driving force behind the success of the global IT operations analytics market. Today, IT is an integral part of every business operation, which has led to generation of copious amount of data. This data requires a systematic approach to retrieve, analyze, and report the various ongoing trends in a given industry. Application of ITOA in a wide range of areas has resulted in reduction of operational costs of companies and improved revenue.
The various end users of ITOA are healthcare and life sciences, manufacturing, retail and consumer goods, BFSI, travel and hospitality, media and entertainment, IT and telecommunication, government, and others. Analysts expect that the BFSI will lead the pack in the coming years as the industry will use these solutions to improve their IT operations and transform their businesses through digitization. For instance, facilities such as mobile banking is expected to offer several remunerative opportunities to the overall market in the BFSI sector.
Global IT Operations Analytics Market: Market Potential
The growing adoption of IT solutions across the world and the strengthening IT industry have offered the global market several growth opportunities. The market potential of the global market is being honed by innovative approaches taken by companies and investments made by them in delivering better solutions. To stay ahead of the game, companies are focusing on mergers and acquisitions as well.
For instance, Nexthink announced its plans to work with Onsoft. The partnership is aimed at developing trustworthy services and solutions that will be developed using latest technologies to help customers get the best out of their investments. Some of the key features these companies will focus on are transparency, quick resolution, and easy access. Keeping the customers happy with comprehensive reporting and management capabilities, and a quick return on investment will be the primary outlook of this partnership.
Global IT Operations Analytics Market: Regional Outlook
Geographically, the global IT operations analytics market is segmented into Asia Pacific, North America, Asia Pacific, the Middle East and Africa, and Latin America. Of these, North America will be the predominant player in the market. The regional market will be driven by rising IT operational data and soaring demand for advanced ITOA solutions. The research report states that data generated by several organizations in North America will rise exponentially over the forecast period, which will offer the market several lucrative opportunities. The emerging trend of bring-your-own-device (BYOD), usage of social media, and soaring sales of smartphones have positively influenced the global IOTA market.
The increasing expenditure on building and strengthening of IT infrastructure in developing economies of Asia Pacific are also expected to boost the growth of Asia Pacific IOTA market. Growing pool of smartphone users, adoption of IoT in various spheres, and increasing penetration of social media are expected to bolster the demand for IOTA in Asia Pacific region over the forecast period.
Key Players Mentioned in this Report are:
The leading players operating in the IT operations analytics market are Oracle Corporation, Evolven Software Inc., IBM Corporation, Hewlett Packard Enterprise Company, SAP SE, Splunk Inc., ExtraHop Networks, VMware Inc., Prelert Inc., and Microsoft Corporation.
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