IT Operations Analytics Market Worth 19.84 Billion USD by 2022
PUNE, India, April 7, 2017 /PRNewswire/ --
According to a new market research report ""IT Operations Analytics Market by Application (Real-Time Log Analytics, Application Performance Management), Technology/Tool (Visual Analytics, Machine-Based Learning), Deployment Model, Organization Size, Vertical & Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from USD 2.78 Billion in 2016 to USD 19.84 Billion by 2022, at a CAGR of 38.7% during the forecast period.
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Browse 73 market data Tables and 47 Figures spread through 136 Pages and in-depth TOC on "IT Operations Analytics Market"
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Major growth drivers for this market include the high growth of IT operations data and adoption of BYOD and IoT in organizations across industries.
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Among applications, the real-time log analytics segment is expected to lead the market during the forecast period
Among applications, the real-time log analytics application segment is expected to hold the largest market share during forecast period. With the consistent increase in log and machine-generated data, organizations need to adopt real-time log analytics applications to provide faster, efficient, and innovative ways of log analysis. Adopting real-time log analytics applications is a high priority for organizations, and several of these have already adopted this application in their IT systems.
Among verticals, the media and entertainment segment is projected to grow at the highest CAGR from 2016 to 2022
Among all industry verticals, the market for media and entertainment is expected to grow at the highest rate during the forecast period. Organizations in this industry struggle with legacy business models, legacy infrastructure, and data, as these organizations attempt to understand the difference between content offered and customer demands. The media and entertainment industry is leveraging the benefits of ITOA solutions t manage infrastructure effectively and analyze huge amounts of IT operations data.
North America is expected to hold the largest share of the global IT Operations Analytics Market during the forecast period
Among regions, the global ITOA market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is one of the highest revenue generating regions in the ITOA market. The growth of IT operational data and the increasing demand for next-generation ITOA solutions are the major factors driving the ITOA market in this region. It has been estimated that in North America, the amount of data generated as well as collected by various organizations is increasing tremendously on a daily basis. The primary reason for such growth in data in this region is the increasing use of mobiles and social media, BYOD in organizations, and the adoption of IoT, among others.
The report also encompasses different growth strategies, such as mergers & acquisitions, partnerships & collaborations, and new product launches adopted by various key players to increase their shares in the global IT Operations Analytics Market.
Some of the major vendors of IT Operations 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 Inc. (U.S.), VMware Inc. (U.S.), and Prelert Inc. (U.S.).
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