Kenneth Research, in its repository of market research reports, has recently added a report on IT Operations Analytics Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The IT Operations Analytics Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for IT Operations Analytics Market products.
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The Global IT Operations Analytics Market was valued at USD 2.87 billion in 2016 and is projected to reach USD 55.41 billion by 2025, growing at a CAGR of 38.95% from 2017 to 2025.
IT operations analytics (ITOA) is the practice of monitoring systems and gathering, processing, analyzing and interpreting data from various IT operations sources to guide decisions and predict potential issues. IT operations analytics provides several benefits to an organization that includes – reduced mean-time-to-repair, avoiding downtime and service degradations, cost reduction, efficient use of skilled personal, and resolve issues quickly and efficiently.
1. Market Drivers
1.1 Growing number of data centers
1.2 Rising amount of IT operations data
1.3 Increasing trends of BYOD and IoT
2. Market Restraints
2.1 Rapid changes in IT operations
2.2 Lack of technical expertise
2.3 Low investments by enterprises in ITOA solutions
The Global IT Operations Analytics Market is segmented on the technology, organization size, deployment model, application, vertical, and region.
1.1 Predictive Analytics
1.2 Visual Analytics
1.3 Machine-Based Learning
1.4 Root-Cause Analytics
1.5 User-Behavior Analytics
2. Organization Size:
2.1 Large Enterprises
2.2 Small and Medium Organizations
3. By Deployment Mode:
4. By Application:
4.1 Real-time Log Analytic
4.2 Cloud Monitoring
4.3 Application Performance Management
4.4 Virtualization Monitoring
4.5 Network and Security Management
4.6 Infrastructure Management
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5. By Vertical:
5.3 IT and Telecom
5.4 Banking, Financial Services, and Insurance (BFSI)
5.5 Travel and Hospitality
5.6 Retail and Consumer Goods
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. SAP SE
3. Hewlett Packard Enterprise
4. Microsoft Corporation
5. Evolven Software Inc.
6. VMware, Inc.
7. Extrahop Networks
8. Oracle Corporation
9. Prelert Inc
10. Splunk Inc
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global IT Operations Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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