Overview and Scope
Information technology (IT) operations management software refers to a suite of tools and solutions designed to monitor, manage, and optimize the performance and availability of IT infrastructure, systems, and applications within an organization. This software helps IT teams ensure the smooth operation of critical business services by providing real-time visibility into various components of the IT environment, including servers, networks, databases, applications, and cloud services.
Sizing and Forecast
The information technology (IT) operations management software market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to growing enterprise use of cloud computing technologies, explosive growth of the banking industry, e-commerce, and cloud-based services, increased use of cloud video streaming services, growing data center infrastructure.
The information technology (IT) operations management software market size is expected to see strong growth in the next few years. It will grow to $3.10 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to emerging technologies Investing into advanced data centers, IT companies turning to BYOD and CYOD Systems, demand for cloud management services, adoption of multi-cloud platform, the growing spending on IT infrastructure, increasing demand for the automation of processes. Major trends in the forecast period include rapid technological improvements, monitor their systems in real-time, resolve issues quickly and effectively, ongoing operations and spur innovation, implementation of virtualization technologies.
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Segmentation & Regional Insights
The information technology (IT) operations management software market covered in this report is segmented –
1) By Type: Cloud Based, On-Premise
2) By Application: Large Enterprises, Small And Midsize Enterprises (SMEs)
3) By End-User: Banking, Financial Services And Insurance (BFSI), Information Technology And Telecom, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Government, Healthcare, Other End-Users
North America was the largest region in the IT operations management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) operations management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in cybersecurity concerns is expected to drive the growth of the IT operations management software market going forward. Cybersecurity concerns refer to the risks and threats of protecting digital assets, information, systems, and networks from unauthorized access, data breaches, cyberattacks, and other malicious activities. The cybersecurity concern is rising due to the proliferation of cyber threats, shortage of cybersecurity professionals and skilled personnel, shift to remote work, and adoption of emerging technologies. IT operations management software plays a vital role in strengthening cybersecurity defenses, enhancing threat detection and response capabilities, and ensuring the resilience of IT infrastructure against cyber threats and attacks. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the 2021–22 financial year saw over 76,000 cybercrime reports in Australia, a 13% rise from 2020. Further, on average, a cybercrime report is lodged approximately every 7 minutes, up from one report every 8 minutes in 2020–21. Therefore, the rise in cybersecurity concerns is driving the growth of the IT operations management software market.
Key Industry Players
Major companies operating in the information technology (IT) operations management software market are Microsoft Corporation, Amazon Web Services Inc., Siemens AG, Hewlett-Packard Company, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Efecte Oyj, Adobe Systems Inc., ServiceNow Inc., Autodesk Inc., OpenText Corporation, Citrix Systems Inc., SAP SE, Atlassian Corporation Plc, Splunk Inc., BMC Software Inc., IFS AB, Zendesk Inc., Zoho Corporation, LogMeIn Inc., Ivanti Inc., Elastic N.V., SolarWinds Worldwide LLC, SymphonyAI Corporation, Freshworks Inc., EasyVista Inc., Binmile LLC
The information technology (it) operations management software market report table of contents includes:
1. Executive Summary
2. Information Technology (IT) Operations Management Software Market Characteristics
3. Information Technology (IT) Operations Management Software Market Trends And Strategies
4. Information Technology (IT) Operations Management Software Market – Macro Economic Scenario
5. Global Information Technology (IT) Operations Management Software Market Size and Growth
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32. Global Information Technology (IT) Operations Management Software Market Competitive Benchmarking
33. Global Information Technology (IT) Operations Management Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Information Technology (IT) Operations Management Software Market
35. Information Technology (IT) Operations Management Software Market Future Outlook and Potential Analysis
36. Appendix
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