IT Operations Analytics Market

Global IT Operations Analytics Market Size (2024 to 2029)

The global IT operations analytics (ITOA) market is predicted to expand by USD 32.96 billion in 2024 and USD 160.21 billion by 2029, growing at a CAGR of 37.2% during the forecast period.

Operational analytics is the interpretation of multiple disciplines that support the continuous flow of initial analytical discovery to the incorporation of predictive analytics into business operations, applications, and machines.

Organizations use analytics to examine the business and all of its aspects, including employees, customers, operations, and finances. Operational analytics focuses on improving existing operations, which involve the use of various data extraction and aggregation tools to gain more transparent information for business planning. Analytical systems are being deployed across all sectors for all key business processes and activities.

Companies can use operational analysis by having software packages that offer different models to show what is happening within a company in real-time or over a period of time. Operational analysis and other business analyses support the idea of enterprise resource planning, where software systems bring information together in a complex business to improve communications among stakeholders, streamline or optimize business processes, and deliver ideas on how to chart a course for the future.

Market Growth and Trends:

The network management and security segment is expected to record a higher growth rate during the forecast period. Network and security management provides results, such as the performance of the individual network component, to determine the level of load and performance of the network equipment. Network and security management also provides complete network visibility and generates data for assets (asset classifications and pools), firewalls, applications, ports, protocols, VPN, and providers' security policies and devices. With the right network management and security solution, businesses can offload security and protect their customers' IT systems, networks, files, and data from attacks and breaches.

Market Drivers and Restraints:

The increasing integration of cloud computing networks enhances the growth of the global IT operations analytics market. Also, increasing digitization is a crucial factor in the growth of this market. In addition, rapid advancements in Bring Your Own Device (BYOD) and the Internet of Things (IoT) are driving this business around the world. Furthermore, the increase in the volume of IT operations and its optimization allow the market to develop more rapidly in the following years.

However, frequent changes in IT operations are seriously threatening the expansion of the global IT operations analytics market.

Impact of COVID-19 on the global IT operations analytics market:

The coronavirus pandemic is affecting global supply chains and logistics, as the lockdown has been imposed geographically, negatively affecting business continuity for most industries. The sectors facing the most significant drawbacks are the retail trade and the food industry. Although essential items are not locked, their availability has suffered from a lack of manpower to work on production lines, supply chains, and transportation.

The COVID-19 outbreak has affected markets and customer behavior and substantially impacted economies and societies. With the temporary closure of working premises, academic institutions, and manufacturing units, the cancellation of several sports and events, and the adoption of work-from-home and social distancing policies, organizations are turning towards novel technologies to help them get through these difficult times. Given the spread of coronavirus, the focus is on remote monitoring of affected patients.

GLOBAL IT OPERATIONS ANALYTICS MARKET REPORT COVERAGE:

The global IT operations analytics market is segmented and sub-segmented based on the component, organization size, application, end-user, and region.

Global IT Operations Analytics Market – By Component:

• Hardware

• Software

• Service

  • Consulting

  • Integration

  • Other Professional Services

Global IT Operations Analytics Market – By Organization Size:

• Small and Medium-Sized Enterprises (SMEs)

• Large Companies.

Global IT Operations Analytics Market – By Application:

• Root Cause Analysis

• Service Impact Analysis

• Real-time Application Behavior Learning

• Proactive Monitoring of service performance and availability

• Others, including problem attribution, etc.

Global IT Operations Analytics Market – By End-user:

• Banking, Financial Services, and Insurance (BFSI

• Consumer goods and retail

• Manufacturing

• Transportation

• Healthcare

• IT and Telecommunications

• Others, including government, etc.

Global IT Operations Analytics Market – By Region:

• North America

• Asia-Pacific

• Middle East and Africa (MEA)

• Latin America

• Europe

Of these, North America and Europe are the most dominant areas for these analytics and are are supposed to witness steady growth in the outlook period. Nevertheless, Asia Pacific is estimated to offer lucrative growth opportunities for the development of the IT operations analytics industry in the future.

Key Market Players:

The industry players leading in the global IT Operations Analytics market with 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.

Recent Developments:

• In July 2020, SolarWinds increased its existing IT operations management portfolio to fulfill the needs of professionals working on hybrid IT realities and combat financial pressures.

• In July 2020, Citrix and Microsoft joined forces to reinvent this new flexible workplace during the COVID-19 pandemic. Citrix and Microsoft will offer common tools and services to help Citrix customers move from on-premises to Microsoft Azure in a simple manner. Companies will also design a connected roadmap to enable a consistent and optimal flexible work experience.

• In June 2020, SAP introduced a Corona Warn application for the government of Germany, which is among the first applications in Europe that are laid on the existing specifications of the exposure notification framework offered by Apple and Google.

• In April 2020, Hitachi signed an agreement with Fusionex, a big data and artificial intelligence technology company in the Asian region that provides artificial intelligence and data analysis services. The agreement will allow Hitachi to integrate Fusionex's data analysis products, services, and SaaS (Software-as-a-Service) business experience into Lumada to strengthen the SaaS business and reduce this development. User-specific personalization and personalization. Achieves easy delivery.