The it operations analytics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
IT Operations Analytics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The it operations analytics market size has grown exponentially in recent years. It will grow from $14.69 billion in 2023 to $19.09 billion in 2024 at a compound annual growth rate (CAGR) of 29.9%. The growth in the historic period can be attributed to rise of complex it environments, growing volume of data, shift to proactive it management, increasing importance of user experience, need for real-time visibility.
The it operations analytics market size is expected to see steady growth in the next few years. It will grow to $21.65 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to adoption of hybrid and multi-cloud environments, increased integration of artificial intelligence (ai) and machine learning (ml), focus on aiops (artificial intelligence for it operations), rising cybersecurity concerns, continuous growth in it complexity. Major trends in the forecast period include remote work and distributed it operations, digital transformation initiatives, integration of observability solutions, adoption of hybrid and multi-cloud monitoring, continued growth of edge computing monitoring.
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Scope Of IT Operations Analytics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
IT Operations Analytics Market Overview
Market Drivers –
The increasing number of data centers is expected to propel the IT operations analytics market going forward. A data center refers to a specific building, room, or facility designed to house IT infrastructure, facilitate the deployment and operation of applications and services, and store the data. IT operations analytics offers a real-time cloud-based analytics platform for monitoring and optimizing data center infrastructure. For instance, in January 2022, according to the Campfil Group, a US-based air filter company, the number of data centers in the US reached 2,751 in 2022. Moreover, there are 484 data centers situated in Germany, 458 in the UK, 447 in China, and 324 in Canada. Therefore, the increasing number of data centers is driving the IT operations analytics market.
Market Trends –
Major companies operating in the IT operations analytics market are using artificial intelligence (AI) and machine learning (ML) for operations analytics, such as AI-driven auto-remediation solutions, to extend their global reach in the market. AI-driven auto-remediation solutions refer to automated systems that use artificial intelligence (AI) capabilities to identify, analyze, and remediate issues or incidents within an IT environment. For instance, in April 2023, PagerDuty Inc., a US-based digital operations management company, launched the PagerDuty AIOps solution. This offers comprehensive automation, from event ingesting to auto-remediation, ensuring swift processing of vast data quantities and event resolutions. By harnessing machine learning and unique AI capabilities, PagerDuty AIOps enhances its core data model. This streamlines operations further automate incident handling, and wards off potentially expensive issues. A notable feature of PagerDuty AIOps is its visibility console. It provides operational teams with a centralized monitoring dashboard, enabling swift incident management to prevent severe business, IT, and financial impacts.
The it operations analytics market covered in this report is segmented –
1) By Type: Predictive Analytics, Visual Analytics, Root Cause Analytics, Behavior Analytics,
2) By Deployment, On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Organizations
4) By Application: Asset Performance Management, Network Management, Security Management, Log Management
5) By End Use: Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Manufacturing, Government, IT And Telecom, Other End Users
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Regional Insights –
North America was the largest region in the IT operations analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the it operations analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the it operations analytics market report are Microsoft Corporation, Hitachi Ltd., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation , Broadcom Inc., SAP SE, Vmware Inc., NetApp Inc., SAS Institute Inc., Micro Focus International plc, Splunk Inc., BMC Inc., Elastic N.V., iOPEX Technologies, SolarWinds Inc., Appnomic Systems Pvt. Ltd., Sumo Logic Inc., Devo Inc., Nexthink SA, Digitate, ExtraHop Networks Inc., Moogsoft Inc., Optanix Inc., OpsRamp Inc., Nastel Technologies Inc., XpoLog Ltd., StackState Inc., Loom Systems Ltd., Evolven Software Inc.
Table of Contents
1. Executive Summary
2. IT Operations Analytics Market Report Structure
3. IT Operations Analytics Market Trends And Strategies
4. IT Operations Analytics Market – Macro Economic Scenario
5. IT Operations Analytics Market Size And Growth
…..
27. IT Operations Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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