Information Technology (IT) Operations Management Software Market: Major Trends Reshaping the Future of the Industry

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What Will the Information Technology (IT) Operations Management Software Industry Market Size Be by 2025?
The market size for software used in managing information technology (IT) operations has seen a significant expansion in the previous years. The market, valued at $2.46 billion in 2024, is projected to increase to $2.61 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.0%. This increase during the historical period is primarily due to the escalating utilization of cloud computing technologies by enterprises, the explosive evolution of the banking sector, e-commerce, and services based on the cloud, a rise in the use of cloud video streaming services, and the expansion of data center infrastructure.

What's the Long-Term Growth Forecast for the Information Technology (IT) Operations Management Software Market Size Through 2029?
In the coming years, the IT operations management software market is anticipated to witness robust growth, set to reach a value of $3.28 billion by 2029 with a CAGR of 5.8%. Several factors might fuel this growth during the projected period including the adoption of emerging technologies, investment in advanced data centers, shift of IT companies towards BYOD and CYOD systems, increasing demand for cloud management services, use of multi-cloud platforms, and heightened expenditure on IT infrastructure and process automation. In addition, the period under review will also witness fast-paced technological advancements, real-time monitoring of systems, effective and quick issue resolution, continuous operations, and an increase in innovative initiatives, along with the application of virtualization technologies.

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What Are the Key Growth Drivers Fueling the Information Technology (IT) Operations Management Software Market Expansion?
The escalating issues surrounding cybersecurity are anticipated to fuel the expansion of the IT operations management software market in the future. Issues regarding cybersecurity relate to the risk and predicaments involved in safeguarding digital properties, data, systems, and networks from unsanctioned access, data violations, cyber transgressions, and other harmful activities. The concerns about cybersecurity are rising due to the surge in cyber threats, lack of qualified cybersecurity professionals, the shift to telecommuting, and the embracement of nascent technologies. IT operations management software is crucial in reinforcing cybersecurity protections, amplifying threat detection and reactive measures, and assuring IT infrastructure's robustness against cyber threats and assaults. For example, in February 2023, the Australian Cyber Security Centre, a cybersecurity agency from Australia, reported receiving 76,000 cybercrime reports in 2022, marking a 13% increase from the previous year. Consequently, the escalating cybersecurity concerns are propelling the growth of the IT operations management software market.

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What Are the Key Trends Driving Information Technology (IT) Operations Management Software Market Growth?
In the IT operations management software market, leading businesses concentrate on creating sophisticated software like IoT platform software. This particular software is crafted to incorporate with Internet of Things (IoT) devices while providing comprehensive management, monitoring, and protective solutions for interconnected networks and devices. This type of software makes it easier to manage, control and monitor IoT applications and devices within an organization's technology structure. As an example, in April 2022, the US-based software solutions business, Manufacturing Automation & Software Systems Group Inc. (MASS Group), introduced an inventive IoT platform software solution called ScannerIO. This advanced technology integrates flawlessly with their manufacturing execution system (MES), providing it with the capabilities to automate the formulation of digital work instructions for various manufacturing processes. ScannerIO aids in gathering data from multiple devices such as Bluetooth, barcode scanners, RFID readers, and even IoT devices.

How Is the Information Technology (IT) Operations Management Software Market Segmented?
The information technology (IT) operations management software market covered in this report is segmented -

1) By Type: Cloud Based, On-Premise
2) By Application: Large Enterprises, Small And Midsize Enterprises (SMEs)
3) By End-User: Banking, Financial Services And Insurance (BFSI), Information Technology And Telecom, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Government, Healthcare, Other End-Users

Subsegments:
1) By Cloud-Based - Public Cloud, Private Cloud, Hybrid Cloud
2) By On-Premise - Local Servers, Infrastructure

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Which Companies Are Leading the Charge in Information Technology (IT) Operations Management Software Market Innovation?
Major companies operating in the information technology (IT) operations management software market are Microsoft Corporation, Amazon Web Services Inc., Siemens AG, Hewlett-Packard Company, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Efecte Oyj, Adobe Systems Inc., ServiceNow Inc., Autodesk Inc., OpenText Corporation, Citrix Systems Inc., SAP SE, Atlassian Corporation Plc, Splunk Inc., BMC Software Inc., IFS AB, Zendesk Inc., Zoho Corporation, LogMeIn Inc., Ivanti Inc., Elastic N.V., SolarWinds Worldwide LLC, SymphonyAI Corporation, Freshworks Inc., EasyVista Inc., Binmile LLC

Which Regions Are Leading the Global Information Technology (IT) Operations Management Software Market in Revenue?
North America was the largest region in the IT operations management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) operations management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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