IT Operations Analytics Market to receive overwhelming hike in Revenues by 2023

Virtually for every organization performance of IT resources is a very crucial factor. IT environments have become complex, which are leading to performance problems without the cause being identifiable. This is leading to loss of revenue because of customer dissatisfaction, chronically frustrated end-users and heavy workload for the IT departments. Various new technological possibilities are arising to measure and detect issues and take necessary actions. IT Operations Analytics (ITOA) is one of them. ITOA is an approach to retrieve, report and analyze data for IT operations. It extracts meaningful information from the raw data collected by monitoring technologies and converts them into actionable business insights. In an ongoing work, ITOA produces more effective and more efficient support for business processes. The implementation of this technology makes the IT organizations adaptable and more versatile. The availability of IT resources is also greatly improved leading fewer malfunctions and fewer delays. The key to success lies in making performance predictable and detection of possible problems before they become the risk. Thus, in short, the implementation of ITOA results into more agile organizations, making cost-efficient IT investments and strengthening of organizations in terms of IT security. The impact of IT operation analytics is performance improvement and improvement in operational efficiency. In recent years there has been a growing trend among producers, consumers and distributors to integrate intelligent devices, pervasive broadband networking, social networking and analytics which is redefining the relationships among various stakeholders.

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In today’s business environment, reduction in IT risks has become very critical and important factor. The complexity of dynamic infrastructure tests IT organizations driving them to adopt innovative technologies, accurately predicting how services perform. Hence the optimization of IT operations is driving the adoption of IT operations and analytics market. However, frequent operational changes in IT organizations is restraining the growth of ITOA market. Also, operational analytics requires continuous ingestion of variety of data which result in large data volumes. This poses challenges to integrating, managing and quality of diverse data sets. This is a big challenge for the organizations. The role of IT in organizations is changing from a facilitating to directing. The organizations that are going to deploy IT as a strategic asset for its business processes in the coming years are expected to reap benefits from this which is expected to create opportunities for the growth of the ITOA market during the forecast period. The amount of data generated and collected by different organizations is increasing enormously on a daily basis owing to 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.

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The global IT operations analytics market is segmented on the basis of component, organization size, application, end-user and region. In terms of component, the market can be segmented into hardware, software and service. The service segment is further segmented into consulting, integration and other professional services. The market is classified on the basis of organization size into small and medium enterprises (SME) and large enterprises. The market is segmented in terms of applications into root cause analysis, service impact analysis, real time application behavior learning, proactive control of service performance and availability and others including problem assignment etc. On the basis of end-user, ITOA market is segmented into Banking, Financial Services and Insurance (BFSI), Retail and Consumer goods, manufacturing, transportation, healthcare, IT and Telecommunication and others including Government etc. Geographically, the ITOA market is segmented into North America, Asia-Pacific, Middle-East and Africa (MEA), South America and Europe.

Industry participants leading the IT operations analytics market with the significant developments are Oracle Corporation, IBM Corporation, Microsoft Corporation, SAP SE, Hewlett Packard Enterprise, ExtraHop Networks, Splunk Inc., Evolven Software Inc., Continuity Software and VMware, Inc., among others.

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