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Almost all businesses make use of IT operational data. IT services, technology infrastructure, and IT applications are in constant use, consequently generating high volumes of data throughout the day. Increasing significance of IT department in various organization propel the need for advanced solutions to manage the complex IT functions.. I Operations Analytics (ITOA) is one such solution.
IT operations analytics (ITOA) (also known as advanced operational analytics, or IT data analytics) is an approach to process, analyze, and infer data for IT operations. It extracts meaningful information from the data extracted by monitoring technologies and converts them into actionable business insights. The implementation of this technology makes the IT organizations adaptable and more versatile by the identification of technical glitches well in advance with respect to their incidence.
The prime applications for IT operations analytics include root cause analytics, real time application behavior learning, complement best-of-breed technology, proactive control of service performance and availability, problem assignment, service impact analysis, dynamically baselines threshold and others.
Operation analytics has become an increasingly high priority tool for organizations owing to the digitization efforts undertaken by different industry verticals and their sub-domains.
The global ITOA market is expected to grow at a steady CAGR in the upcoming years.
The growth of this market is attributed towards major relying factors including the increasing usage of IT operations data and increasing focus on adoption of cloud-based ITOA solutions, the growing need of companies for holistic 360-degree visibility, the growing dependence on software for operations, increasing consumption of big data, the technological advancements and digitization in emerging countries, growing usage and demand from end-users such as healthcare and life sciences, retail and consumer goods, and BFSI, the growing need to enhance IT operational performance and optimize IT infrastructure in under-developed regions etc.
Moreover, the amount of data generated and collected by different organizations is increasing tremendosuly on a daily basis owing to the adoption of IoT, BYOD in organizations and increasing use of social media and mobile. Hence, big data analytics is expected to create large opportunity for the growth of IT operation analytics market. Also, IoT-led data explosion and the use of Artificial Intelligence (AI) and Machine Learning (ML) for operation analytics are likely to fuel the market growth in the long run.
Furthermore, increasing adoption of cloud computing networks and services among the enterprises, increased amount of IT operation and its optimization to increase operational efficiency and reduce problem recovery time, the digitization trend which is prompting the SMBs and other large enterprises to opt for IT infrastructure is further driving the growth in adoption of IT operations analytics solutions.
More importantly, the outbreak of the COVID-19 pandemic has drastically brought traction in the demand for ITOA owing to enhanced internet connectivity, decreased cost of components, increased demand for connected devices, affordable cloud computing services, and an increase in IT expenditure by governments and players across the world. Moreover, with the liberation of restrictions across the globe and the resumption of industrial operations, the market is expected to witness growth from the initial half of 2022.
However, limited investments by the organizations to upgrade the prevailing IT systems and the increasing complexities and dynamic nature of IT architecture are hampering the growth of this market.
IT OPERATIONS ANALYTICS MARKET SEGMENTATION:
By Deployment Mode:
By Organization Size:
By End User:
The North American region holds the largest market share and is dominating in the IT Operations Analytics market followed by Europe. The region is expected to continue to mark the same position in the next few years as well due to the rising demand for next-generation IT operation analytics solutions and growth in IT operational data in the region, early adoption of advanced technologies such as analytics and AI in the countries, the presence of highly efficient network infrastructure, large-scale internet penetration, increasing experiments and developments by integrating AI and ML functionalities with their existing ITOA solutions by the market players, growing government initiatives etc.
The Asia Pacific region is the fastest growing regional market for IT Operations Analytics. This can be attributed to factors such as the growing population in the region, the rapid rise in technology adoption from retail and consumer goods, transportation and logistics, and manufacturing industry verticals, growing industrialization in the region, the increasing awareness of operational analytics among enterprises in emerging countries, the growing popularity of cloud computing and increasing government and private enterprise initiatives etc. The major contributors in the region include India, China and Japan.
FEW KEY PLAYERS IN IT OPERATIONS ANALYTICS MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global IT operations analytics market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global IT Operations Analytics Industry Report
The report offers a comprehensive insight on the IT Operations Analytics Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.