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(Wireless-NewsWire.Com, February 27, 2020 ) According to 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", the IT Operations Analytics (ITOA) 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.
Major growth drivers for this market include the high growth of IT operations data and adoption of BYOD and IoT in organizations across industries
Some of the major vendors of IT operations analytics solutions 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.)
• Prelert Inc. (U.S.)
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 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 are leveraging the benefits of ITOA solutions to manage infrastructure effectively and analyse huge amounts of IT operations data.
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 revenues 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.
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Mr. Sanjay Gupta
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