The market refers to the industry encompassing tools and solutions designed to monitor, analyze, and optimize IT operations. It includes software platforms, services and technologies that facilitate real-time monitoring, predictive analytics, and automation for enhanced IT performance and efficiency. This market caters to various sectors such as finance, healthcare, telecommunications, and manufacturing, addressing the growing need for proactive IT management and decision-making. Key players in this market include major software vendors, analytics firms, and IT service providers, driving innovation and competition within the sector.
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Data Bridge Market Research analyzes that Global Information Technology (IT) Operations Analytics Market is expected to reach USD 264,419.00 million by 2031 from USD 24,922.59 million in 2023 growing with a CAGR of 34.6% in the forecast period of 2024 to 2031.
Key Findings of the Study
Proliferation of Big Data in IT Operations
The demand for advanced analytics solutions that can effectively manage, monitor, and optimize IT operations will continue to grow as organizations strive to harness the power of data to drive business outcomes. Businesses can gain a competitive edge in today's rapidly evolving digital landscape, enabling them to enhance efficiency, agility, and resilience while delivering superior customer experiences by investing in IT operations analytics. The proliferation of big data in IT operations is a key driver for the market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Component (Solution and Services), Deployment Mode (Cloud and On-Premises), Organization Size (Large Enterprises, Medium-Sized Enterprises, and Small Enterprises), End-User (Banking, Financial Services, and Insurance, Retail and Consumer Goods, Telecom, Healthcare and Life Sciences, Manufacturing, Government and Defense, Energy and Utilities, Transportation and Logistics, and Others)
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Countries Covered
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U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Russia, Switzerland, Sweden, Denmark, Belgium, Poland, Norway, Finland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Indonesia, Taiwan, Thailand, Malaysia, New Zealand, Philippines, Vietnam, Rest of Asia-Pacific, Israel, U.A.E., Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, Oman, Bahrain, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Splunk Inc. (U.S.), Microsoft (U.S.), Broadcom (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Oracle (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Sumo Logic (U.S.), BMC Software, Inc. (U.S.), Hitachi Vantara LLC (U.S.), ExtraHop Networks (U.S.), ScienceLogic (U.S.), SAP SE (Germany), SolarWinds Worldwide, LLC (U.S.), Nexthink (Switzerland), Paessler AG (Germany), Fortra, LLC (U.S.), Evolven Software (U.S.), BigPanda (U.S.), and Zenoss Inc. (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis:
The global Information Technology (IT) operations analytics market is segmented into four notable segments which are based on component, deployment mode, organization size, and end user.
- On the basis of component, the market is segmented into solution and services
In 2024, the solution segment is expected to dominate the global Information Technology (IT) operations analytics market
In 2024, the solution segment is expected to dominate the market with the market share of 79.02% due to the growing dependence on software for operations, increased consumption of data facilitated by mature big data and analytics technologies, digitalization of industries powered by mobility and cloud, IoT-led data explosion, and the widespread adoption of cloud-based networks and services.
- On the basis of deployment mode, the market is segmented into cloud and on-premises
In 2024, cloud segment is expected to dominate the global Information Technology (IT) operations analytics market
In 2024, the cloud segment is expected to dominate the market with the market share of 73.05% due to the widespread adoption of cloud-based infrastructures, providing scalability, flexibility, and cost-effectiveness.
- On the basis of organization size, the market is segmented into large enterprises, and medium-sized enterprises, and small enterprises. In 2024, the large enterprises segment is dominating the market with the market share of 50.76%
- On the basis of end-user, the market is segmented into banking, financial services, and insurance, retail and consumer goods, telecom, healthcare and life sciences, manufacturing, government and defense, energy and utilities, transportation and logistics, and others. In 2024, the banking, financial services, and insurance segment is expected to dominate the market with the market share of 30.43%
Major Players
Data Bridge Market Research analyzes Splunk Inc. (U.S.), Microsoft (U.S.), Broadcom (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.) as major players in global Information Technology (IT) operations analytics market.
Market Developments
- In November 2023, IBM Corporation Operational Log and Data Analytics released version 5.1.x.14, introducing enhanced authentication management, streamlined container configurations, and expanded platform support. These updates optimize data analytics processes, improve security with multi-factor authentication, and ensure seamless integration across various platforms, ultimately enhancing operational efficiency for the company
- In July 2023, Broadcom Inc. unveiled the Broadcom Trident 4-X7 Ethernet switch ASIC, boasting a fully programmable 4.0 Terabits/second switch for enterprise data center ToR boxes. With native 400G connectivity, it aligns with next-gen spine/fabric tech, enhancing performance and slashing power consumption by over half. The Trident 4-X7 introduces hardware features for analytics and telemetry, automating data center operations, improving reliability, and reducing operational costs. Fully programmable and upgradeable, it ensures long-term platform viability and investment protection for extended enterprise life cycles. This benefited company to expand its product portfolio
- In June 2023, Microsoft and Moody’s Corporation have forged a partnership, unveiling advanced data, analytics, and risk solutions for global knowledge workers in the financial services sector. Utilizing Moody’s robust data and analytics paired with Microsoft Azure OpenAI Service, the collaboration brings innovative offerings, bolstering corporate intelligence and risk assessment with Microsoft AI. Leveraging Moody’s extensive solutions, including the powerful Orbis database, the partnership delivers applications spanning third-party reference data, counterparty risk assessment, and supply chain management
- In June 2023, BMC Software, Inc. introduced generative AI upgrades to the BMC Helix Service and Operations Management platform, delivering an intelligent assistant for swift issue resolution. Using AI to analyze operational data, organizations gain an unadulterated view of reality, enhancing efficiency. The BMC HelixGPT solution integrates large language models for harmonized data, providing actionable insights and autonomous issue resolution. This benefited company to expand its product portfolio
- In April 2023, Cisco Systems, Inc. unveiled Advanced Cybersecurity Solution. Cisco Extended Detection and Response (XDR) offering unmatched visibility, XDR streamlines security operations in hybrid landscapes. It prioritizes and remediates incidents efficiently with evidence-backed automation. In addition, all editions of Duo now include advanced features to safeguard against multi-factor authentication attacks, reinforcing its position as a secure, cost-effective access management solution
Regional Analysis
The countries covered in the report are U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Russia, Switzerland, Sweden, Denmark, Belgium, Poland, Norway, Finland, Turkey, rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Indonesia, Taiwan, Thailand, Malaysia, New Zealand, Philippines, Vietnam, rest of Asia-Pacific, Israel, U.A.E., Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, Oman, Bahrain, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
As per Data Bridge Market Research analysis:
North America is expected to dominate the global Information Technology (IT) operations analytics market
North America region is expected to dominate market due to its advanced technological infrastructure and early adoption of IT analytics solutions. The region benefits from a robust IT ecosystem, fostering innovation and creating a favorable environment for the widespread implementation of IT operations analytics. Moreover, a high concentration of key market players and a proactive approach towards digital transformation contribute to North America's leadership in this market.
Asia-Pacific is the fastest-growing region in the global Information Technology (IT) operations analytics market
Asia-Pacific is expected to be the fastest growing region in the market due to due to its rapid digital transformation, increasing adoption of cloud technologies, and a rising demand for advanced analytics tools to optimize IT operations across diverse industries.
For more detailed information about the global Information Technology (IT) operations analytics market report, click here – https://www.databridgemarketresearch.com/reports/global-it-operations-analytics-market
