IT Operations Analytics Market to Surpass USD 126.01 Billion by 2030, Proliferation of Huge Amount of IT Operations Data and Increasing Focus on Adoption of Cloud-based ITOA Solutions

Increasing consumption of big data, and the digitalization of industries powered by Mobility, implementation of operational analytics initiatives, these Factors help to drive Market Expansion.
The global IT Operations Analytics (ITOA) Market is poised to reach a staggering USD 126.01 billion by 2030, with a substantial CAGR of 37.4% over the forecast period of 2023-2030. This growth is fueled by the proliferation of vast amounts of IT operations data and a growing emphasis on the adoption of cloud-based ITOA solutions.

Market Overview:

IT Operations Analytics (ITOA) is used to monitor systems and collect processes, analyze, and infer data from multiple sources of IT operations to assist users in decision-making and identifying potential threats. IT Operations Analytics (ITOA) has emerged as a strategic priority for organizations, leveraging digitization efforts across various industry verticals. According to a recent industry report, approximately 70% of surveyed organizations in the U.S., China, Germany, France, and the U.K. prioritize operations over consumer-focused processes in their analytics initiatives. Respondents highlighted the significant role of operation analytics solutions in increasing profits and gaining a competitive advantage.

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Key Players:

The major key players in the IT Operations Analytics Market are Apptio, Inc., BMC Software Inc., ExtraHop Networks, Glassbeam Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Splunk Inc., and other players.

Market Analysis:

The market's expansion is driven by the growing reliance on software for operations, increased consumption of big data, and the digitalization of industries propelled by mobility and cloud technologies. The maturity of big data and analytics technologies, coupled with the use of Artificial Intelligence (AI) and Machine Learning (ML) for operation analytics, further contributes to long-term market growth.

Segmentation Analysis:

- By Type: Root cause analytics holds the largest market share, surpassing 29%, driven by the increasing demand for analytics in fault diagnosis, IoT devices, and industrial IoT technologies.
- By Application: Asset Performance Management (APM) dominates with a market share of approximately 38.5%, witnessing significant growth in various industries for managing asset performance and reducing operating expenses.

Market Segmentation and Sub-Segmentation Included Are:

By Type:
• Predictive Analytics
• Visual Analytics
• Root Cause Analytics
• Behavior Analytics

By Application:
• Asset Performance Management
• Network Management
• Security Management
• Log Management

By Deployment:
• On-premise
• Cloud Based

By End-User:
• BFSI
• Healthcare
• Retail
• Manufacturing
• Government
• IT
• Telecom
• Others

Key Regional Insights:

North America leads with a significant revenue share of around 34%, driven by early adoption, particularly in the U.S. The most developed and successful operational analytics efforts are being implemented by U.S.-based companies. The United States, which is home to many of the leading big data companies, is the main driver of the regional market growth. Furthermore, the U.S. government has a key role in deciding on specific matters in the field.
The Asia Pacific region is expected to experience the highest market growth rate, attributed to its large population, developing infrastructure, and technology adoption across various industry verticals.

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Key Takeaway:

• In the end-user segment, the BFSI sector claims the largest market share of around 24%, highlighting the increasing adoption of analytics solutions for in-house operations, aiding in risk management, fraud prevention, and customer understanding.
• As industries witness rapid change and IT infrastructures become more complex, the IT Operations Analytics Market stands as a crucial solution, providing actionable insights to improve performance, streamline processes, and optimize IT systems.

Recent Developments:

• In March 2023, Cisco launched the ThousandEyes Cloud Intelligence platform, offering cloud-based insight and analytics on the performance of cloud-based apps and services.
• In February 2023, IBM introduced the Watson AIOps platform, utilizing AI and machine learning to automate IT operations activities and enhance decision-making.
• In June 2020, SAP launched the German government's Corona Warn App, showcasing the application of IT operations analytics in addressing real-world challenges.

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Table of Contents:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
1. COVID-19 Impact Analysis
2. Impact of Ukraine- Russia war
3. Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. IT Operations Analytics Market Segmentation, by Type
9. IT Operations Analytics Market Segmentation, by Application
10. IT Operations Analytics Market Segmentation, by Deployment
11. IT Operations Analytics Market Segmentation, by End-User
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion

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