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The IT operation analytics (ITOA) market size is forecast to increase by USD 82.7 billion at a CAGR of 49.5% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for near-real-time insights to address performance issues and security risks in complex and dynamic IT architectures. AIOps teams are leveraging ITOA solutions to gain holistic 360-degree visibility into their IT environments, enabling them to perform root-cause analysis and implement effective maintenance strategies. The growing complexity of IT infrastructure and the need for proactive identification and resolution of issues are key market drivers. Additionally, resource management and network security risks are major concerns, making ITOA an essential tool for IT operations teams seeking to optimize their operations and mitigate potential threats.
With the increasing adoption of cloud computing, digital services, and IoT devices, IT infrastructure has become more intricate, leading CIOs to prioritize data-driven processes. Operation analytics, which includes AIOPs (Artificial Intelligence for IT Operations), utilizes advanced technologies like artificial intelligence (AI), machine learning, DevOps, and automation to streamline the decision-making process. This tech stack focuses on observability, monitoring metrics, events, logs, and traces using tools like Melt. By analyzing these data points, IT teams can proactively identify potential issues, minimize downtime, and optimize network services. Business intelligence and root cause analysis are essential benefits, enabling organizations to make informed decisions, improve overall performance, and maintain a healthy digital ecosystem. Infrastructure, software, and digital services all benefit from operation analytics. By automating routine tasks, IT teams can focus on strategic initiatives, enhancing the efficiency and effectiveness of their IT operations. The future of IT lies in data-driven, AI-assisted management, ensuring seamless technology transformation and a competitive edge.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The cloud segment is estimated to witness significant growth during the forecast period. In the IT Operations Analytics (ITOA) market landscape of 2023, the cloud segment held a significant share. For companies, this segment presents a profitable deployment model due to the seamless integration of AI and cognitive functions, superior scalability, flexibility, efficient capacity management, and lower investment.
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The cloud segment was the largest segment and valued at USD 3 billion in 2018. Buyers' expectations in the global ITOA market remain fluid, making the cloud model an advantageous choice for companies. It allows for cost-effective modifications and upgrades to cater to evolving customer requirements. From a company standpoint, the cloud model offers benefits such as effective quality control, user-friendly interface, and effortless maintenance. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 61% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In today's dynamic business landscape, IT systems have become increasingly complex, with the integration of digital services, cloud computing, and various technologies like artificial intelligence (AI) and machine learning. CIOs are leading digital initiatives to transform their tech stacks, focusing on data-driven processes and AIOPs for improved decision-making. Operational analytics, a critical component of IT operations, is essential for managing complex IT environments.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Recent developments is notably driving market growth. The market has witnessed significant advancements, with key players in the technology sector responding to the increasing complexity of IT systems and the shift towards cloud computing and digital services. CIOs continue to prioritize technology transformation to maintain a competitive edge in the ever-evolving IT landscape. Thus, such factors are driving the growth of the market during the forecast period.
Growing demand for holistic 360-degree visibility is the key trend in the market. In today's complex IT landscape, organizations face challenges in ensuring the health and optimal performance of their IT systems, particularly in managing hybrid cloud ecosystems. Traditional IT Operations Analytics (ITOA) solutions offer valuable insights into specific domains but lack the ability to provide a comprehensive, end-to-end view.
Furthermore, this gap creates obstacles in identifying and addressing cross-domain issues, such as database timeouts and transaction problems. To overcome these challenges, ITOA solutions with a holistic 360-degree perspective are increasingly being adopted. These advanced solutions enable organizations to correlate and cluster issues, as well as collaborate on procedures, ensuring a more integrated approach to IT management. Thus, such trends will shape the growth of the market during the forecast period.
Increasing complexities and dynamic nature of IT architecture is the major challenge that affects the growth of the market. In today's business landscape, IT systems have become increasingly complex as organizations adopt advanced technologies such as cloud computing, virtualization, and digital services for their technology transformation. The use of containers and virtual machines has become commonplace, leading to an increase in cloud solution acceptance and the migration of applications to the cloud.
However, this shift brings about new challenges, including decreased visibility into workflows and workloads that are no longer physically co-located with traditional IT infrastructure. This complexity can impact IT health and the ability to effectively manage devices and digital initiatives. Despite these challenges, CIOs continue to prioritize IT analytics (ITOA) to gain insights into their dynamic IT environments and optimize resource utilization.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Broadcom Inc: The company offers IT operation analytics such as Broadcom Mainframe Resource Intelligence, Mainframe Operational Intelligence, and Dynamic Capacity Intelligence.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In today's dynamic business landscape, IT systems have become increasingly complex, with the integration of digital services, cloud computing, and various technologies like artificial intelligence (AI) and machine learning. CIOs are leading digital initiatives to transform their tech stacks, focusing on data-driven processes and AIOPs for improved decision-making. Operational analytics, a critical component of IT operations, is essential for managing complex IT environments. It involves the use of software and infrastructure for business intelligence, observability, and performance monitoring. This includes metrics, events, logs, and traces using tools like Melt for event correlation and root cause analysis. Cloud monitoring and cloud deployment are crucial aspects of operational analytics.
AIOPs teams leverage AI and machine learning to identify patterns, anomalies, and near-real-time insights for predictive maintenance and resource management. This leads to operational efficiency, improved customer engagement, and trusted business insights. However, with the increasing complexity of IT systems, IT operations face challenges like downtime, security risks, and performance issues. Operational analytics helps address these challenges by providing near-real-time insights into environments, enabling quick incident management and workflow automation. Network services and infrastructure are also essential components of operational analytics. Software agents, hypervisors, and network logs are analyzed to identify patterns and anomalies, ensuring optimal performance and security. Overall, operational analytics plays a vital role in the enterprise cloud journey, enabling organizations to make informed decisions and maintain digital products and services.
Market Scope |
|
Report Coverage |
Details |
Page number |
144 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 49.5% |
Market growth 2024-2028 |
USD 82.7 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
36.7 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 61% |
Key countries |
US, China, UK, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Broadcom Inc., Cisco Systems Inc., Evolven Software Inc., ExtraHop Networks Inc., Hitachi Ltd., International Business Machines Corp., iOPEX Technologies Inc., Microsoft Corp., Moogsoft Inc., Nastel Technologies Inc., NetApp Inc., Nexthink SA, Open Text Corporation, Oracle Corp., Resolve Systems LLC, SAP SE, SAS Institute Inc., Splunk Inc., and XpoLog Ltd. |
Market dynamics |
Parent market analysis, market report , market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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