“Tremendous growth in IT operations data in organizations across industries is expected to drive the IT operations analytics market”
The IT operations market is projected to grow from an estimated USD 2.78 billion in 2016 to USD 19.84 billion by 2022, at a CAGR of 38.7% during the forecast period. Major growth drivers for this market include the tremendous growth of IT operations data and adoption of BYOD and IoT in organizations across industries. The primary restraint for this market is the frequent changes happening in IT infrastructure and operations to meet the growing demands of changing business environments.
“The on-demand segment is expected to account for the fastest growing market during the forecast period” The on-demand segment of IT operations analytics by deployment type is estimated to grow at the fastest rate during the forecast period. Organizations are expected to rapidly adopt on-demand or cloud-based deployment for ITOA solutions in the near future. Cloud deployment offers multiple benefits to organizations, such as reduced cost on physical infrastructure, anytime accessibility, and effective monitoring of data. However, challenges such as legal regulations, data security, performance, reliability, transformation complexity, operational control, and data governance may hinder the rate of deployment of ITOA solutions on the cloud. Reduced total cost of ownership is a key factor that is expected to fuel the cloud deployment of ITOA solutions.
“Asia-Pacific is projected to grow at the highest rate during the forecast period”
The IT operations analytics market in the Asia-Pacific is projected to grow at the highest rate during the forecast period. The APAC region comprises growing economies such as China, India, Australia, and Japan, where the ITOA market is expected to register high growth due to the tremendous increase in the generation of IT data in various organizations. Increasing number of data centers and the growing demand for advanced IT infrastructures is also fueling the growth of the market. Increasing adoption of cloud computing in this region provides opportunities to vendors to provide ITOA solutions on cloud. There has been a rapid rise in the demand for ITOA tools that identify security gaps in network infrastructure as well as web & mobile applications and help reduce risks. Organizations are deploying high-end ITOA solutions to analyze the huge chunks of IT operational data to extract valuable insights with the shift of technologies from on-premises to cloud and the demand for the sustenance of market positions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
• By Company Type: Tier 1: 40%, Tier 2: 40%, and Tier 3: 20%
• By Designation: C-level: 25%, Director level: 37%, and Others: 38%
• By Region: North America: 50%, Europe: 33%, APAC: 17%,
The various key vendors profiled in the report are as follows:
1. Oracle Corporation (U.S.)
2. IBM Corporation (U.S.)
3. SAP SE (Germany)
4. Hewlett Packard Enterprise Company (U.S.)
5. Splunk Inc. (U.S.)
6. Microsoft Corporation (U.S.)
7. Evolven Software Inc. (U.S.)
8. ExtraHop Networks Inc. (U.S.)
9. VMware Inc.(U.S.)
10. Prelert Inc. (U.S.).
The report provides an analysis of IT operations analytics for different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as applications, technology/tools, deployment model, organization size, industry verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the IT operations analytics market comprehensively and provides the closest approximations of the revenues for the overall market and subsegments across different verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand competitors and gain more insights to better their positions in their businesses. The competitive landscape section includes new product launches, partnerships, acquisitions, and expansions.