IT Operations Analytics (ITOA) Market Size Hit USD 70.87 Billion By 2026 with CAGR of 37.7% – Reports and Data
The growth of the market is governed by various factors such as rising technological advancements
Market Size – USD 5.45 Billion in 2018, Market Growth – CAGR of 37.7%, Market Trends-Increasing BYOD culture in organizations.
The IT Operations Analytics (ITOA) Market is expected to reach USD 70.87 Billion by 2026, according to a new report by Reports and Data. IT operations analytics (ITOA) is a developing technology adopted by various businesses to understand intricate patterns. The systems are intended to clean the massive amount of data utilizing numerical algorithms and other extraction mechanisms to recover vital information. Digitization trend is inspiring the SME’s and other large businesses to opt for IT infrastructure, further accelerating the growth in choosing IT operational analytics solutions. Therefore, boosting the increase in revenue of the global market.
The market in the APAC region is expected to witness the highest CAGR of 38.8% during the forecast period. The Asia-Pacific region is supposed to witness growth in the market with emerging countries like China, Japan, and India that are investing in technology hugely coupled with the presence of several manufacturing enterprises which are further expected to expand the market growth. A growing number of data centers and the increasing demand for high-level IT infrastructures are also kindling the growth of the market. Rising adoption of cloud computing in this region presents possibilities for vendors to implement ITOA solutions on the cloud. There has been a rise in the market for ITOA tools that recognize security gaps in network infrastructure and decrease risks.
The Key players in the IT Operations Analytics (ITOA) Market include Evolven Software Inc., Oracle Corporation, IBM Corporation, SAP SE, Splunk Inc., Hewlett Packard Enterprise Company, ExtraHop Networks, Prelert Inc., VMware Inc., and Microsoft Corporation.
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Further key findings from the report suggest
- The IT Operations Analytics (ITOA) Market is estimated to reach USD 70.87 Billion by 2026, at a CAGR of 37.7% during the forecast period.
- The root-cause analytics technology accounted for the largest share of 21.1% of the market in 2018.
- The cloud deployment is anticipated to grow at a higher rate of 38.3% during the forecast period.
- It and Telecommunication end user segment is anticipated to grow at the highest rate of 37.9% during the forecast period.
- The Small & Medium Enterprises (SMEs) organization is anticipated to grow at a higher rate of 37.8% during the forecast period.
- North America region accounted for the largest share of 30.2% of the market in 2018. The booming IT industry in the region and the emergence of IoT, cloud, and big data will generate further opportunities for visual analytics.
- Various players are developing strategies to mark their presence in the industry.
- Evolven Software Inc. announced in June 2018 that New York Community Bank (NYCB) practices Evolven. This allows a proactive approach to IT service management, IT operations, and release management. NYCB believes it can produce the best possible assistance to its customers with Evolven.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, End User, Application, Technology, Organization, and region:
Deployment Outlook (Revenue, USD Million; 2016-2026)
End User Outlook (Revenue, USD Million; 2016-2026)
- IT and Telecommunication
- Media and Entertainment
Application Outlook (Revenue, USD Million; 2016-2026)
- Real-time Log Analytics
- Application Performance Management
- Infrastructure Management
- Network and Security Management
Technology Outlook (Revenue, USD Million; 2016-2026)
- Root-Cause Analytics
- Predictive Analytics
- Machine-Based Learning
- Visual Analytics
- User-Behavior Analytics
Organization size Outlook (Revenue, USD Million; 2016-2026)
- Large Enterprises
- Small & Medium Enterprises (SMEs)
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Market Report includes major TOC points:
- IT Operations Analytics (ITOA) market Overview
- Global Economic Impact on Industry
- Global Market Competition by Manufacturers
- Global Production, Revenue (Value) by Region
- Global Supply (Production), Consumption, Export, Import by Regions
- Global Production, Revenue (Value), Price Trend by Type
- Global Market Analysis by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- IT Operations Analytics (ITOA) market Forecast
Conclusively, all aspects of the IT Operations Analytics (ITOA) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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