IT Operation Analytics Market Size was valued at USD 6.8 billion in 2022. The IT operation analytics market industry is projected to grow from USD 9.3 Billion in 2023 to USD 124.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 38.17% during the forecast period (2023 - 2032). Rapidly changing IT industry followed by the increased complexity of IT environments and Help organizations to quickly discover the root cause of IT system performance problems are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Growth of big data and need for its management led to the market growth
The rapid growth of the IT industry has resulted in an increase in the complexity of operations and data. The enormous and complicated nature of this data, frequently referred to as "big data," necessitates the use of a management and analytics system. According to IDC, new data generation will expand at a market CAGR of 23% from 2022 to 2032, culminating in roughly 175ZB of data creation by 2032. According to IDC, by 2032, over 30% of all data generated will be real-time. As a result, in order to manage this volume of big data in real time in the future, IT operation analytics will be required. It can process large amounts of data from many applications and deliver real-time analytical results. According to Gartner, about 15% of organizations would actively use ITOA (IT Operations Analytics) technology to provide insight into both business execution and IT operations. These big data operations analytics solutions can aid with better performance, analysis to enable leaders make more educated investment decisions, and therefore drive the market.
Additionally, artificial and human intelligence interfaces are rapidly driving digital supply chains, requiring cyber-physical viewpoints in operations and supply chain management. The Internet of Things has a big market impact. This is because the demand for effective IT operational analytics, as well as data extraction and administration, is increasing. The increased use of 5G networks opens up new opportunities for AI-based applications in industrial systems and supply chains employing IT operations analytics. 5G networks expand support for machine-to-machine communication while striving for lower prices and lower battery consumption. According to the findings, 65% of enterprises intend to build 5G networks by 2020, primarily for IoT and video communications. A 2017 CEO survey of 5G potential applications revealed five different services that could be supported. In 2021, Capgemini Whitepapers showcases that customer analytics only creates a profit of $38 billion ly while operational improvement has a massive profit increase of up to $117 billion. As a result of growing automated technology, there are more innovative solutions in IT operations analytics which is predicted to drive this market in future.
For instance, in 2021, Capgemini Whitepapers showcases that customer analytics only creates a profit of $38 billion ly while operational improvement has a massive profit increase of up to $117 billion. As a result of growing automated technology, there are more innovative solutions in IT operations analytics which is predicted to drive this market in future. Thus, driving the IT operation analytics market revenue.
The IT operation analytics market segmentation, based on technology includes visual analytics, machine-based learning, predictive analytics, user-behavior analytics and root-cause analytics. In 2022, the root cause analytics sector held the greatest market share of more than 30%. The growth of IT operations data, the amount of sensors for problem detection, and the number of Internet of Things (IoT) devices has increased organizational need for root cause analytics. The root cause is the primary reason for a decrease in an asset's quality or overall device/equipment efficacy. The application of analytics in this industry has grown in relevance. Furthermore, the development of additional technologies such as industrial IoT and AI has increased demand for advanced root cause analytics solutions.
The predictive analytics category is predicted to increase at a higher rate over the projection period. According to a market analysis, the application of predictive analytics for operational tasks can save the manufacturing industry up to USD 700 billion over the next two decades.
Figure1: IT Operation Analytics Market, by Technology, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America dominated the IT Operations Analytics Market in 2022, accounting for 38% of total market size, and is expected to increase significantly during the forecast period 2022-2032. With the support of IT operation analytics, IoT-connected devices collect a vast amount of unstructured data, which is processed and analyzed for root cause analysis, log and inventory management, and customer relationship management.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: IT OPERATION ANALYTICS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s IT operation analytics market accounts for the second-largest market share due to rise in technology adoption from retail and consumer goods, transportation & logistics, and manufacturing end-user to improve consumer experience is predicted to provide to the growth of the market in the region. Further, the German IT operation analytics market held the largest market share, and the UK IT operation analytics market was the fastest-growing market in the European region
The Asia-Pacific IT Operation Analytics Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing awareness of operational analytics among businesses in emerging markets such as China and India. Moreover, China’s IT operation analytics market held the largest market share, and the Indian IT operation analytics market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in R&D in order to expand their product lines, which will help the IT operation analytics market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, IT operation analytics industry must offer cost-effective items.
One of the most important business strategies employed by manufacturers in the IT operation analytics industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the most important benefits to medicine have recently been provided by the IT operation analytics industry. Major players in the IT operation analytics market, such as 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 (U.S.), and others, are attempting to boost market demand by investing in research and development activities.
Microsoft Corporation is a multinational technology company based in Redmond, Washington. The Windows operating system, the Microsoft Office suite, and the Internet Explorer and Edge web browsers are among Microsoft's most well-known software products. The Xbox video game consoles and the Microsoft Surface family of touchscreen personal PCs are its major hardware products. Microsoft placed 14th in the 2022 Fortune 500 list of the largest US firms by total revenue; as of 2022, it was the world's largest software maker by revenue. Together with Alphabet (parent company of Google), Amazon, Apple, and Meta, it is regarded one of the Big Five American information technology corporations (formerly Facebook). In October 2020, Microsoft announced the broad availability of the Desktop Analytics product This cloud-connected service connects with System Center Configuration Manager, to control Windows endpoints based on the data. It combines data from your organization with data aggregated from millions of devices connected to Microsoft cloud services to save time of IT personnel.
Citrix Systems, Inc. is a worldwide cloud computing and virtualization technology business based in the United States that offers server, application, and desktop virtualization, networking, software as a service (SaaS), and cloud computing solutions. Citrix claims that its solutions are used by over 400,000 clients ly, including 99% of the Fortune 100 and 98% of the Fortune 500. Ed Iacobucci, who served as chairman until his resignation in 2000, launched the company in Richardson, Texas, in 1989. It began by producing remote access products for Microsoft operating systems, licensing source code from Microsoft, and has worked in close collaboration with the firm ever since. Citrix sprang to prominence as an industry leader in thin client technology by the 1990s, allowing purpose-built devices to connect to remote servers. In July 2020, Citrix and Microsoft will collaborate on tools and services to make the migration of on-premises Citrix clients to Microsoft Azure easier and faster. Through the deepening of this partnership, Citrix and Microsoft are helping CIOs to minimize the risk, cost, and complexity in accelerating their transformation to cloud for greater agility, productivity, and security.
Oracle Corporation (U.S.)
IBM Corporation (U.S.)
AP SE (Germany)
Hewlett Packard Enterprise Company (U.S.)
Splunk Inc. (U.S.)
Microsoft Corporation (U.S.)
Evolven Software Inc. (U.S.)
ExtraHop Networks (U.S.)
VMware Inc. (U.S.)
Prelert Inc. (U.S.)
In April 2019:Splunk Inc. announced the general availability of Splunk Connected Experiences and Splunk Business Flow, new products that bring Splunk customers even closer to their data. Splunk Connected Experiences deliver insights on-the-go through augmented reality (AR), mobile devices such as the iPhone, and mobile applications that provide users with the ability to access their data anywhere and at any time.
In July 2020:
SolarWinds’ announced that, IT operations management portfolio was upgraded to satisfy the needs of IT professionals working in hybrid IT environments and to adapt to economic pressures. This product adds new HCI monitoring support for Nutanix in the market. With the latest set of updates, channel vendors have an opportunity to sell monitoring solutions which are enhanced to address modern infrastructure and software solutions
In June 2020:SAP announced the deployment of the Corona Warn App commissioned by the German government, where More than 109,000 visitors viewed the code and approximately 7,250 community and project members participated.This solution has digitalized the process for successfully interrupting the chain of infection in view of the COVID-19 pandemic -from a possible infection to warning potential contact persons, from smart phones to laboratories.
Visual Analytics
Machine-Based Learning
Predictive Analytics
User-Behavior Analytics
Root-Cause Analytics
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 6.8 billion |
| Market Size 2023 | USD 9.3 billion |
| Market Size 2032 | USD 124.8 billion |
| Compound Annual Growth Rate (CAGR) | 38.17% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 (U.S.), VMware Inc. (U.S.), and Prelert Inc. (U.S.). |
| Key Market Opportunities | Growing need of companies for holistic 360degree visibility. |
| Key Market Dynamics | Proliferation of huge amounts of IT operations data. |
IT Operation Analytics Market Highlights:
Frequently Asked Questions (FAQ) :
The IT operation analytics market size was valued at USD 6.8 Billion in 2022.
The market is projected to grow at a CAGR of 38.17% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are 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 (U.S.).
The root-cause IT operation analytics category dominated the market in 2022.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
