What is the Global market size of the Enterprise Resource Planning (ERP) Software Market?

Global IT Operations Analytics Market size was valued at USD 26.2 billion in 2021 and is poised to grow from USD 27.8 billion in 2022 to USD 51.57 billion by 2030, growing at a CAGR of 7% in the forecast period (2023-2030).

What is the key market trend for the Global Enterprise Resource Planning (ERP) Software Market?

Increase in use of cloud computing: The global IT Operations Analytics market is expected to develop significantly throughout the estimated period as a result of rising telco cloud computing use, declining data storage costs, high data growth rates, and rising acceptance of advanced call routing technologies. when expected.

IT Operations Analytics Market Size, Share, Growth Analysis, By Type(Visual, Predictive, Behavior, Root Cause.), By Application(Asset Performance Management, Network Management, Security Management, Log Management), By Deployment Type(On-premise, Cloud), By End Use(BFSI, Healthcare, Retail, Manufacturing), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45B2093 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 121 | Figures: 77

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IT Operations Analytics Market size was valued at USD 26.2 billion in 2019 and is poised to grow from USD 27.8 billion in 2023 to USD 51.57 billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).

The market is consolidated, with well-known players holding sizable shares. Some of the key players include Oracle Corporation, Microsoft Corporation, BMS Software Inc., and IBM Corporation. To maintain their market positions throughout the forecast period, the major players are likely to consolidate in the upcoming years through strategic partnerships, agreements, acquisitions, and mergers. Some of the start-ups expected to pose potential competition in the market include Numerfiy, SignalFx, Wavefront, ControlUp, InfluxDB, and Nexthink. 'IBM Corporation', 'Splunk Inc.', 'Micro Focus International PLC', 'SAP SE', 'HCL Technologies Limited', 'Microsoft Corporation', 'Oracle Corporation', 'Cisco Systems Inc.', 'CA Technologies Inc.', 'VMware Inc.', 'Hewlett Packard Enterprise Development LP', 'ExtraHop Networks Inc.', 'Evolven Software Inc.', 'Zenoss Inc.', 'Corvil Inc.', 'Apptio Inc.', 'Nexthink SA', 'OpsDataStore Inc.', 'Sumo Logic Inc.', 'SolarWinds Worldwide LLC'

An enormous amount of operational data is produced as a result of the fast- evolving IT sector and the growing complexity of IT environments. Enterprises formerly relied on conventional data analytics technologies, which were ineffective and produced lower ROI for huge operational data.

Increase in use of cloud computing: The IT Operations Analytics market is expected to develop significantly throughout the estimated period as a result of rising cloud computing use, declining data storage costs, high data growth rates, and rising acceptance of advanced call routing technologies. when expected.

Due to the early adoption of IT operations analytics solutions, North America accounted for a significant revenue share of around 38% in 2022. Companies situated in the United States have the most advanced and successful operational analytics programmes. Since 17 of the top 20 big data companies are based in the US, this country is primarily responsible for the regional market growth. The American government also plays a crucial role in the domain's actual decisions. Six federal agencies and more than US$ 200 million were committed to the Big Data Research and Development Initiative, which was announced by the United States in 2021. Additionally, compared to 28% in Europe, more than 45% of US-based businesses have integrated analytics into their core decision-making procedures.Businesses in China and India are becoming more aware of operational analytics the regional markets in Asia Pacific is predicted to witness the highest CAGR during the projected period.

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