IT Operation Analytics Market Overview:
The IT operation analytics market industry is projected to grow from USD 9.3 Billion in 2023 to USD 124.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 38.17% during the forecast period (2023 – 2032). In the field of IT, IT operational analytics is a method or approach to retrieve, report, and analyze data for IT operations. They are primarily used for discovering complex patterns in high volumes of noisy IT system availability as well as performance data.
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Key Companies in the IT operation analytics market include,
- Oracle Corporation (U.S.)
- IBM Corporation (U.S.)
- AP SE (Germany)
- Hewlett Packard Enterprise Company (U.S.)
- Splunk Inc. (U.S.)
Various factors are fuelling the global IT operation analytics market. As per the recent MRFR market estimates, such factors include the increasing need for IT operation analytics solutions, growing need for real-time analytics owing to huge amount of data, the proliferation of huge amount of IT operations data, increasing focus on adoption of cloud-based IT operation analytics, frequent changes in IT operations, limited investments by the organization to upgrade the prevailing IT system, the growing dependence on software for operations, increasing use during the COVID-19 pandemic post relaxation of lockdown, rising consumption of big data, and growing number of data centers. Digitalization of industries powered by mobility is the latest IT operation analytics market trends.
On the contrary, increasing complexities, dynamic nature of IT architecture, and limited investments by organizations to upgrade the prevailing IT system may limit the global IT operation analytics market growth over the forecast period.
The MRFR report throws light on an inclusive segmental analysis of the global IT operation analytics market based on vertical, application, deployment, organization size, and technology.
By technology, the global IT operation analytics market is segmented into root-cause analytics, user-behavior analytics, predictive analytics, machine-based learning, and visual analytics. Of these, the root cause will lead the market over the forecast period.
By organization size, the global IT operation analytics market is segmented into large enterprises and SMEs. Of these, the large enterprises will dominate the market over the forecast period.
By deployment, the global IT operation analytics market is segmented into on-premise and cloud. Of these, the on-premise segment will spearhead the market over the forecast period.
By application, the global IT operation analytics market is segmented into network and security management, infrastructure management, application performance management, real-time log analytics, and others.
By verticals, the global IT operation analytics market is segmented into government, media and entertainment, IT and telecommunication, retail, manufacturing, healthcare, BFSI, and others. Of these, the BFSI segment will have the lions share in the market over the forecast period.
By region, the global IT operation analytics market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America and the Rest of the World (RoW). Of these, North America will remain the driving force over the forecast period. Technological advances, increasing amount of data being generated, growing adoption of social media and mobiles, use of BYOD in organizations, and rising applications of IoT across different industry verticals are adding to the global IT operation analytics market growth in the region.
In Europe, the IT operation analytics market is predicted to hold the second-largest share over the forecast period. The presence of key players in Germany, growth of IT operational data, and the rising demand for next-generation IT operation analytics are driving the global IT operation analytics market growth in the region.
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In the APAC region, the IT operation analytics market is predicted to grow at a fast pace over the forecast period. The presence of a huge population, developing infrastructure and technology, rapid rise in technology adoption from manufacturing industry verticals, transportation and logistics, and consumer goods and retail to improve customer experience, is adding to the global IT operation analytics market growth in the region.
In RoW, the IT operation analytics market is predicted to have sound growth over the forecast period.
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