Key Market Players in the IT Operations Analytics Market and Its Opportunities for growth

Posted on 2019-11-13 by MarketsandMarkets in Technology // 0 Comments

The IT Operations Analytics Market is projected to grow from estimated USD 2.78 Billion in 2016 to USD 19.84 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 38.7% from 2016 to 2022, as per a report by MarketsandMarkets.

Major growth drivers for this market include the high growth of IT operations data and adoption of BYOD and IoT in organizations across industries.

How increasing numbers of data centers presents opportunities in IT Operations Analytics?

Factors such as generation of extensive mobile data increase in IoT and mobile devices, rich connectivity of internet, and increased requirement for data storage in various industries has led to a rise in the number of data centers. Data centers have proven to be effective to organizations in terms of cost saving, risk mitigation, and data delivery speed. Hence, many organizations are backing up their data with data centers. Technologies such as visual analytics, predictive analytics, user-behavior analytics, root-cause analytics, and real-time log analytics, if implemented on the data stored in data centers can increase the efficiency of an organizations’ IT operations. Hence, increase in the number of data centers will be enabling solution vendors to develop better analytical solutions for the IT operations teams to manage data at such data centers effectively.

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Key Market Players for IT Operations Analytics Market

The primary vendors in the IT operations analytics market include Oracle Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Hewlett Packard Enterprise Company (U.S.), Splunk Inc. (U.S.), Microsoft Corporation (U.S.), Evolven Software Inc. (U.S.), ExtraHop Networks Inc. (U.S.), VMware Inc. (U.S.), and Prelert Inc. (U.S.). Companies have adopted both, organic and inorganic growth strategies. The primary growth strategy adopted by market players is partnerships, followed by the new product launches strategy.

North America is expected to hold the largest share of the global IT operations analytics market during the forecast period

Among regions, the global ITOA market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is one of the highest revenue generating regions in the ITOA market. The growth of IT operational data and the increasing demand for next-generation ITOA solutions are the major factors driving the ITOA market in this region. It has been estimated that in North America, the amount of data generated as well as collected by various organizations is increasing tremendously on a daily basis. The primary reason for such growth in data in this region is the increasing use of mobiles and social media, BYOD in organizations, and the adoption of IoT, among others.

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