ID: MRFR/ICT/4460-HCR | February 2021 | Region: Global | 100 pages
Synopsis of IT operation analytics Market
IT operational analytics helps in increasing operational efficiencies, providing better capacity planning, reducing MTTR/MTTI by up to 70% and also helps in growing the overall business efficiency. IT operations analytics helps in automating the process of collecting, organizing, and identifying patterns in highly distributed, diverse and fast-changing service and application data. This aids in identifying problems faster and improving IT system performance. Operational analytics provides the right information, at the right time. It also allows the users to quickly focus their efforts on solving the problems and reducing the time required to do the same.
Oracle Corporation, IBM Corporation, SAP SE, Hewlett Packard Enterprise Company, Splunk Inc., and Microsoft Corporation are a few major players in the global IT operation analytics market. Increasing amount of IT operations data being generated is one major factor responsible for driving the growth of the global market. Also, advancements in bring your device and internet of things applications is further fuelling the growth of IT operation analytics market.
The application segment comprises of real-time log analytics, application performance management, infrastructure management, network and security management, and others. Real-time analytics sub-segment is expected to hold the largest share of the global IT operation analytics market. This market share is owing to the consistent increase in the log and machine-generated data which needs real-time analysis to provide faster, efficient, and innovative ways of log analysis. Adoption of real-time log analytics applications possesses a high priority for organizations to improve efficiency and reduce operation time.
The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growth of IT operational data and the increasing demand for next-generation IT operational analytics solutions are the major factors driving the market growth in the region.
The global IT operation analytics market is expected to grow at a CAGR of approximately 39% during the forecast period 2017-2023.
Global IT operation analytics Market
Source: MRFR Analysis
Some of the prominent players in the global IT operation analytics 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.), VMware Inc. (U.S.), and Prelert Inc. (U.S.) among others.
The global IT operation analytics market is segmented by technology, organization size, deployment, application and vertical. Based on the technology, the market is segmented into visual analytics, machine-based learning, predictive analytics, user-behavior analytics and root-cause analytics. Based on the organization size, the market is segmented into SMEs and large enterprises. Based on the deployment, the market is segmented into the cloud and on-premise. Based on the application, the market is segmented into real-time log analytics, application performance management, infrastructure management, network and security management, and others. Whereas, based on vertical, the market is segmented into BFSI, healthcare, manufacturing, retail, IT & telecommunication, media & entertainment, government, and others.
The global IT operation analytics market is studied for Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market and is also expected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements and increasing amount of data being generated owing to growing adoption of mobiles and social media, BYOD in organizations, and increasing applications of the internet of things across various industry verticals.
Frequently Asked Questions (FAQ) :
The IT operation analytics market can thrive at 39% CAGR by 2023
The IT operation analytics market can value at USD 26 Bn by 2023.
Splunk Inc. (U.S.), Evolven Software Inc. (U.S.), Microsoft Corporation (U.S.), and ExtraHop Networks (U.S.) are some key players of the IT operation analytics market.
The IT operation analytics market expansion can be propelled by growing adoption of predictive analytics.
The IT operation analytics market in North America can hold the pole position due to the growing appreciation for the BYOD culture.