IT Operations Analytics Market Grow at a CAGR of 38.7% to Reach USD 19.84 Billion by 2022

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.

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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.

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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.

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