The IT Operations Analytics (ITOA) Market is expected to reach USD 70.87 Billion by 2026, according to a new report by Reports and Data. IT operations analytics (ITOA) is a developing technology adopted by various businesses to understand intricate patterns. The systems are intended to clean the massive amount of data utilizing numerical algorithms and other extraction mechanisms to recover vital information. Digitization trend is inspiring the SME’s and other large businesses to opt for IT infrastructure, further accelerating the growth in choosing IT operational analytics solutions. Therefore, boosting the increase in revenue of the global market.
The market in the APAC region is expected to witness the highest CAGR of 38.8% during the forecast period. The Asia-Pacific region is supposed to witness growth in the market with emerging countries like China, Japan, and India that are investing in technology hugely coupled with the presence of several manufacturing enterprises which are further expected to expand the market growth. A growing number of data centers and the increasing demand for high-level IT infrastructures are also kindling the growth of the market. Rising adoption of cloud computing in this region presents possibilities for vendors to implement ITOA solutions on the cloud. There has been a rise in the market for ITOA tools that recognize security gaps in network infrastructure and decrease risks.
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IT operational analytics is indeed a crucial tool for improving capacity planning and enhancing overall business performance. It enables organizations to analyze their IT operations data in real-time, identify patterns, and make informed decisions to optimize resource allocation and improve efficiency. The market for IT operations analytics has experienced significant growth due to several factors.
One key factor driving the growth of the IT operations analytics market is the industrialization of IT operations. IT analytics enables organizations to streamline and automate various aspects of their IT operations, such as data organization, collection, and pattern identification. This automation and standardization of processes contribute to improved productivity and effectiveness in complex work environments.
Furthermore, the increasing adoption of the Internet of Things (IoT) applications in organizations has also contributed to the growth of the IT operations analytics market. As IoT devices generate vast amounts of data, IT analytics provides the necessary capabilities to handle and analyze this data effectively. This allows organizations to derive actionable insights, identify potential issues, and optimize IoT infrastructure performance.
The growing importance of IT departments in organizations has further accelerated the demand for advanced solutions to manage complex IT functions. IT operations analytics offers real-time analysis capabilities, enabling organizations to gain immediate visibility into their IT infrastructure and quickly respond to potential issues. The ability to identify patterns and trends in IT data supports proactive decision-making and enhances operational efficiency.
In terms of regional market share, North America has been a significant player, accounting for the largest share in 2018. The thriving IT industry in the region, coupled with the increasing adoption of IoT, cloud computing, and big data technologies, creates additional opportunities for the IT operations analytics market. North American organizations recognize the value of IT analytics in optimizing their operations and are actively investing in these solutions.
some leading companies operating in the global IT Operations Analytics (ITOA) Market:
Evolven Software Inc., Oracle Corporation, IBM Corporation, SAP SE, Splunk Inc., Hewlett Packard Enterprise Company, ExtraHop Networks, Prelert Inc., VMware Inc., and Microsoft Corporation.
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Further key findings from the report suggest
- The IT Operations Analytics (ITOA) Market is estimated to reach USD 70.87 Billion by 2026, at a CAGR of 37.7% during the forecast period.
- The root-cause analytics technology accounted for the largest share of 21.1% of the market in 2018.
- The cloud deployment is anticipated to grow at a higher rate of 38.3% during the forecast period.
- It and Telecommunication end user segment is anticipated to grow at the highest rate of 37.9% during the forecast period.
- The Small & Medium Enterprises (SMEs) organization is anticipated to grow at a higher rate of 37.8% during the forecast period.
- North America region accounted for the largest share of 30.2% of the market in 2018. The booming IT industry in the region and the emergence of IoT, cloud, and big data will generate further opportunities for visual analytics.
- Various players are developing strategies to mark their presence in the industry.
- Evolven Software Inc. announced in June 2018 that New York Community Bank (NYCB) practices Evolven. This allows a proactive approach to IT service management, IT operations, and release management. NYCB believes it can produce the best possible assistance to its customers with Evolven.
The global market is further segmented into type and application:
Deployment Outlook (Revenue, USD Million; 2016-2026)
End User Outlook (Revenue, USD Million; 2016-2026)
- IT and Telecommunication
- Media and Entertainment
Application Outlook (Revenue, USD Million; 2016-2026)
- Real-time Log Analytics
- Application Performance Management
- Infrastructure Management
- Network and Security Management
Technology Outlook (Revenue, USD Million; 2016-2026)
- Root-Cause Analytics
- Predictive Analytics
- Machine-Based Learning
- Visual Analytics
- User-Behavior Analytics
Organization size Outlook (Revenue, USD Million; 2016-2026)
- Large Enterprises
- Small & Medium Enterprises (SMEs)
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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