IT Operations Analytics Market Size, Share & Industry | 2031
IT Operations Analytics Market Size, Share & Industry | 2031
Segments - IT Operations Analytics Market by Types (Root Cause Analytics, Predictive Analytics, Behavior Analytics, and Visual Analytics), Applications (Security Management, Asset Performance Management, Log Management, and Network Management), Deployments (Cloud and On-premise), End-users (Retail, BFSI, Manufacturing, Healthcare, IT & Telecom, Government, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031
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| Report ID :ICT-SE-2278
| 4.7 Rating
| 84 Reviews
| 170 Pages
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Report Description
IT Operations Analytics Market Outlook 2031
The global IT operations analytics market size was valued at USD 17.51 Billion in 2022 and is estimated to reach USD 301.63 Billion by 2031, expanding at a considerable CAGR of 37.2% over the forecast period, 2023-2031. The growth of the market is attributed to the growing reliance on software for operations purposes along with the rapid digitalization of numerous industries that get triggered by cloud and mobility.
In order to monitor systems and to analyze, process, collect and conclude data obtained from various sources, IT operations analytics is used. It assists the users to identify any potential threat and helps them in decision-making. Holders of various industry verticals have taken the efforts for digitization due to which operation analytics has become one of their major strategies.
Consumption of big data has also been increasing rapidly and with it being growing the access to operation analytics tools is increasing for general IT purposes. According to a recent report on industries, a survey was performed on approximately 600 executives based in Germany, the U.S., France, China, and the U.K. around 70% of the organizations are majorly shifting their attention towards operation analytics than consumer-focused processes.
The answerers also agreed that operation analytics solutions help in gaining a competitive advantage along with increasing profits. Very limited resources are available for the entire IT industry to manage the dynamic infrastructure of IT as a result of which a maximum number of companies have logged in the operational data of IT.
IT applications, technology infrastructure, and IT services are continuously used and generate data continuously. This generated data is unstructured and creates barriers to the efficient management of IT operations. Several powerful tools are provided by IT operations analytics that dynamically check for risks, impacts, and disruption arising out of IT operations of a business environment.
The COVID-19 pandemic had an adverse effect on the demand, production, and supply for goods and services worldwide. High disruption was caused to the market and supply chain and financially affected both the governments and the industries.
However, the IT operations analytics market is expected to grow at a lucrative rate attributed to inexpensive cloud computing services, better internet connectivity, rising expenditures by the government on IT operations, growing insistence for connected devices, and declining cost of components across the globe.
IT Operations Analytics Market Trends, Drivers, Restraints, and Opportunities
- Increasing use of operations analytics along with enhanced real-time decision-making is estimated to propel the market growth over the forecast period.
- Depletion in cost of IT operations and better perceptibility into operations and processes are expected to fuel the market growth.
- Enhanced network privacy and security provides a better experience to the customers which is anticipated to drive the market expansion during the forecast period.
- IT architecture is dynamic and complex in nature and continual changes occurring in IT operations is a key challenge restricting the market growth.
- Growing use of machine learning and artificial intelligence for operation analytics is projected to present key opportunities for the market growth in the coming years.
Scope of IT Operations Analytics Market Report
The report on the global IT operations analytics market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
IT Operations Analytics Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Types (Root Cause Analytics, Predictive Analytics, Behavior Analytics, and Visual Analytics), Applications (Security Management, Asset Performance Management, Log Management, and Network Management), Deployments (Cloud and On-premise), and End-users (Retail, BFSI, Manufacturing, Healthcare, IT & Telecom, Government, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Splunk Inc.; BMC Software Inc.; Glassbeam Inc.; ExtraHop Networks; IBM Corp.; Hewlett Packard Enterprise Development LP; Microsoft Corp.; SAP SE; Oracle Corp.; and Apptio, Inc. |
IT Operations Analytics Market Segment Insights
Type Segment Analysis
On the basis of types, the IT operations analytics market has been segmented into root cause analytics, predictive analytics, behavior analytics, and visual analytics. The root cause analytics segment held a large share of the market in 2019 owing to the increased demand for root cause analytics in the enterprises due to increasing internet of things (IoT) devices, rising usage of sensors for diagnosis of faults, and growing IT operations data.
The growth of the segment can also be attributed to the foundation of advanced technology including artificial intelligence and IoT. On the other hand, the predictive analytics segment is anticipated to grow at a fast rate over the forecast period attributed to the rising integration of big data and the production of a huge amount of data.
Application Segment Analysis
Based on applications, the market is divided into security management, asset performance management, log management, and network management. The asset performance management segment held a major share of the market and is expected to grow at a lucrative rate during the forecast period attributed to the growing demand for digital solutions in order to lower the operating expenses and management of assets’ performance of an enterprise.
Usage of such analytics enables companies to plan strategies to lessen maintenance costs, prolongation of assets, lowering downtime, steer clear of unplanned outages, and others. Furthermore, investments are made by asset managers to gain sales productivity and improvement in efforts of marketing.
Deployment Segment Analysis
On the basis of deployments, the IT operations analytics market is bifurcated into cloud and on-premise. The cloud segment led the market in 2019 and is estimated to continue its lead over the forecast period owing to the reduction of the total cost of ownership.
Cloud-based solutions help companies at various aspects such as functional monitoring of data, reducing the cost of physical infrastructure, and enhancing accessibility. It also offers other benefits such as the low requirement of manpower for operation, reduced maintenance, high operational flexibility, and others.
However, various challenges are associated with cloud deployment including reliability, data security, performance, regulatory compliance, data governance, complexity in transformation, and operational control. The incorporation of cloud computing with machine learning, artificial intelligence, and big data have allowed companies to integrate data from several resources and communication channels in order to take right and informed decisions.
End-user Segment Analysis
Based on end-users, the market is segmented into retail, BFSI, manufacturing, healthcare, IT & telecom, government, and others. The BFSI segment held a key share of the market in 2019 and is anticipated to hold a significant share of the market over the forecast period attributed to the rising acquisition of analytics solutions by the financial and banking companies.
Operation analytics assist in various in-house operations of the banks such as fraud management, risk management, and others to retain and develop a customer base that is profitable. Moreover, the availability of several services including online payments, digital wallets, blockchain technology, and payment gateways plays a significant role in complex workflow structures automation.
Regional Outlook
In terms of regions, the IT operations analytics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a large share of the market in 2019 attributed to the timely and speedy adoption of IT operations analytics solutions. The growth of the market can also be attributed to the presence of major key players in the region along with the concrete decision made by the local government.
On the other hand, the market in Asia Pacific is expected to exhibit a high CAGR attributed to the growing awareness among various enterprises regarding operational analytics. The further growth of the market is due to the increasing adoption of smart technology and IoT along with the rising popularity of cloud computing.
Segments
The global IT operations analytics market has been segmented on the basis of
Types
- Root Cause Analytics
- Predictive Analytics
- Behavior Analytics
- Visual Analytics
Applications
- Security Management
- Asset Performance Management
- Log Management
- Network Management
Deployments
- Cloud
- On-premise
End-users
- Retail
- BFSI
- Manufacturing
- Healthcare
- IT & Telecom
- Government
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Splunk Inc.
- BMC Software Inc.
- Glassbeam Inc.
- ExtraHop Networks
- IBM Corp.
- Hewlett Packard Enterprise Development LP
- Microsoft Corp.
- SAP SE
- Oracle Corp.
- Apptio, Inc.
Competitive Landscape
Key players competing in the market are Splunk Inc.; BMC Software Inc.; Glassbeam Inc.; ExtraHop Networks; IBM Corp.; Hewlett Packard Enterprise Development LP; Microsoft Corp.; SAP SE; Oracle Corp.; and Apptio, Inc.
Many of these players have adopted business strategies such as collaborations, partnerships, alliances, acquisitions, and mergers in order to increase their operation expansion, consumer base, and market position globally.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. IT Operations Analytics Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. IT Operations Analytics Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. IT Operations Analytics Market - Supply Chain
4.5. Global IT Operations Analytics Market Forecast
4.5.1. IT Operations Analytics Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. IT Operations Analytics Market Size (000’ Units) and Y-o-Y Growth
4.5.3. IT Operations Analytics Market Absolute $ Opportunity
5. Global IT Operations Analytics Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. IT Operations Analytics Market Size and Volume Forecast by Types
5.3.1. Root Cause Analytics Predictive Analytics Behavior Analytics Visual Analytics
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global IT Operations Analytics Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. IT Operations Analytics Market Size and Volume Forecast by Applications
6.3.1. Security Management Asset Performance Management Log Management Network Management
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global IT Operations Analytics Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. IT Operations Analytics Market Size and Volume Forecast by End Users
7.3.1. Retail BFSI Manufacturing Healthcare IT & Telecom Government
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global IT Operations Analytics Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. IT Operations Analytics Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global IT Operations Analytics Demand Share Forecast, 2019-2026
9. North America IT Operations Analytics Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America IT Operations Analytics Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America IT Operations Analytics Market Size and Volume Forecast by Types
9.4.1. Root Cause Analytics Predictive Analytics Behavior Analytics Visual Analytics
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America IT Operations Analytics Market Size and Volume Forecast by Applications
9.7.1. Security Management Asset Performance Management Log Management Network Management
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America IT Operations Analytics Market Size and Volume Forecast by End Users
9.10.1. Retail BFSI Manufacturing Healthcare IT & Telecom Government
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America IT Operations Analytics Demand Share Forecast, 2019-2026
10. Latin America IT Operations Analytics Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America IT Operations Analytics Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America IT Operations Analytics Market Size and Volume Forecast by Types
10.4.1. Root Cause Analytics Predictive Analytics Behavior Analytics Visual Analytics
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America IT Operations Analytics Market Size and Volume Forecast by Applications
10.7.1. Security Management Asset Performance Management Log Management Network Management
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America IT Operations Analytics Market Size and Volume Forecast by End Users
10.10.1. Retail BFSI Manufacturing Healthcare IT & Telecom Government
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America IT Operations Analytics Demand Share Forecast, 2019-2026
11. Europe IT Operations Analytics Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe IT Operations Analytics Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe IT Operations Analytics Market Size and Volume Forecast by Types
11.4.1. Root Cause Analytics Predictive Analytics Behavior Analytics Visual Analytics
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe IT Operations Analytics Market Size and Volume Forecast by Applications
11.7.1. Security Management Asset Performance Management Log Management Network Management
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe IT Operations Analytics Market Size and Volume Forecast by End Users
11.10.1. Retail BFSI Manufacturing Healthcare IT & Telecom Government
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe IT Operations Analytics Demand Share Forecast, 2019-2026
12. Asia Pacific IT Operations Analytics Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific IT Operations Analytics Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific IT Operations Analytics Market Size and Volume Forecast by Types
12.4.1. Root Cause Analytics Predictive Analytics Behavior Analytics Visual Analytics
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific IT Operations Analytics Market Size and Volume Forecast by Applications
12.7.1. Security Management Asset Performance Management Log Management Network Management
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific IT Operations Analytics Market Size and Volume Forecast by End Users
12.10.1. Retail BFSI Manufacturing Healthcare IT & Telecom Government
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific IT Operations Analytics Demand Share Forecast, 2019-2026
13. Middle East & Africa IT Operations Analytics Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa IT Operations Analytics Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa IT Operations Analytics Market Size and Volume Forecast by Types
13.4.1. Root Cause Analytics Predictive Analytics Behavior Analytics Visual Analytics
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa IT Operations Analytics Market Size and Volume Forecast by Applications
13.7.1. Security Management Asset Performance Management Log Management Network Management
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa IT Operations Analytics Market Size and Volume Forecast by End Users
13.10.1. Retail BFSI Manufacturing Healthcare IT & Telecom Government
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa IT Operations Analytics Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global IT Operations Analytics Market: Market Share Analysis
14.2. IT Operations Analytics Distributors and Customers
14.3. IT Operations Analytics Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. Splunk Inc. BMC Software Inc. Glassbeam Inc. ExtraHop Networks IBM Corp. Hewlett Packard Enterprise Development LP
Methodology
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