IT Operation Analytics Market Scope

Global IT Operation Analytics Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global It operation analytics (IOTA) market is estimated to garner significant revenue by the end of 2031 by growing at a CAGR of ~25% over the forecast period, i.e., 2023 – 2033. Further, the market generated a handsome revenue in the year 2022. The growing need to utilize IT operation data is expected to increase the demand for IT operation analytics (IOTA). The companies supervising and managing the data and analytics are likely to grow faster than other companies. Data and analytics are overseen by the chief information officers of nearly 37% of industries.

GET A SAMPLE COPY OF THIS REPORT

The increased number of devices connected to Internet of Things (IoT) is acceleration the demand of root cause analytics among enterprises. Root-cause analytics maintains the quality of overall device. In 2020, approximately 10 billion devices were connected to IoT and it is forecasted the total number of IoT-connected devices will reach over 30 billion by 2030. Additionally, digital transformation in organizations and rising demand of cloud deployment is expected to accelerate the market growth of It operation analytics.

Global IT Operation Analytics Market: Growth Drivers and Challenges

Growth Drivers

• Rapid Increase in Amount of Big Data

IT industry is rapidly increasing and changing, with its unprecedented changes, there has been generation of huge amount of data. Companies use this data to draw meaningful insights. In 2020, it is estimated that every human on the earth will be producing data of worth of approximately 2 MB in every second.

• Proliferation of Internet Connectivity

Internet connectivity has driven after the onset of pandemic. The pandemic led to shut down of schools, offices and other public areas, thus the trend of work from home, online schooling all together surged internet connectivity. In comparison to pre-pandemic levels, internet connectivity surged from around 40% to almost 100%.

• Increased Usage of Artificial Intelligence

Nearly 80% of organizations are favoring AI technology for cyber security. AI is used for product and service development, approximately 35% of the high-tech industry and 45% of telecom industry relies on AI-based technology.

• Government Expenditure on IT Infrastructure

In order to cope up with rapid digitization, the government is investing in IT infrastructure to avail its benefits. Software technology Parks of India (STPI) is scheme launched to promote IT & ITES sector of India. It promotes export of software and focuses on startups and SMEs. As per the Ministry of Electronics and Information Technology, total export by STPI increased from Rs. 4,74,183 crores in FY 2019-2020 to Rs. 4,96,313 crores in FY 2020-2021.

• Digital Transformation of Organization

With the increased new product innovation and change in consumer taste, manufacturing is likely to become much faster. Digitization further unites the scattered manufacturing units. These are a few benefits to drive industries undergo digital transformation. Digitally transformed organizations are expected to contribute more than half of nominal GDP.

Challenges

• Dynamic and Complex Nature of IT Infrastructure

• Constrained Amount of Investment to Upgrade IT Systems

• Business Application Might Get Affected by Underlying IT Operational Glitches

ITOA solutions are expected to produce higher return of investment but many companies are oblivious to its benefit and thus do not invest in its installment. These company remain dependent on traditional tools which are less expensive. Therefore, limited investment in IT operation analytics is likely to hamper its market growth.

The It operation analytics market is segmented and analyzed for demand and supply by deployment into on premise and cloud. Out of two, cloud segment is anticipated to hold the largest market size by the end of 2033. Rising need to blow off the upkeep cost of hardware and software functioning and expedited adoption of cloud based service is forecasted to boost the market growth is expected to fuel the market trends. From 2022, share of company using cloud services will reach nearly 65% from around 40% in next 18 months and in past 12 months, approximately 70% organization have already migrated towards cloud.

Global IT Operation Analytics Market Regional Synopsis

Regionally, the global It operation analytics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033. United States has the most progressive software and IT services worldwide. IT industry has nearly 2 million of highly educated and talented people. Furthermore, continuous expansion of IT sector is likely to propel the market growth. In 2020, about 12 million people were working in a tech role and in the same year 261,000 new jobs were generated in IT industry.

Market Segmentation

Our in-depth analysis of the global It operation analytics market includes the following segments:

Customize this Report: Request Customization

Key Companies Dominating the Global IT Operation Analytics Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global It operation analytics market that are included in our report are IBM Corporation, Hewlett Packard Enterprise Development LP, Glassbeam Inc., BMC Software Inc., SAP SE, Microsoft Corporation, Oracle Corporation, SolarWinds, Apptio, Inc., ExtraHop Networks, and others.

Global IT Operation Analytics Market: Latest Developments

• July, 2020: SolarWinds announced modifications across its IT operation management in order to meet the requirements of IT professionals operating in hybrid IT company.

• April, 2022: Microsoft Corporation, announces a 7 years of strategic cloud partnership with Bharat Petroleum Corporation Ltd. (BPCL). Through this collaboration, Microsoft is to leverage BPCL with security related services on cloud including IoT and analytics.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal. 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.