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

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).

Analytics tools in operations are becoming more accessible for general-purpose IT and analysis due to an increase in data sources, data volumes, and use cases as big data and analytics technologies have matured. Additionally, the long-term market growth is likely to be aided by the IoT-led data explosion and the application of AI and ML for operational analytics. In order to help the users to make decisions and recognise potential threats, IT Operations Analytics (ITOA) is used to monitor systems and collect, process, analyse, and infer data from various sources of IT operations. 

Due to the digitization initiatives made by incumbents across various industry verticals, operational analytics has elevated to the status of a strategic priority for organisations. According to a recent industry report, about 600 executives from the US, China, Germany, France, and the UK claim that  the organisations are focusing their analytics initiatives more on operations than consumer-focused processes. 

The IT landscape has been  limited with resources to manage the dynamic IT infrastructure despite the variety of business types. Almost all aspects of a business are recorded in the operational IT data. Data is generated continuously throughout  as a result of the constant use of IT services, technology infrastructure, and IT applications. To manage IT operations effectively, all raw, poly-structured, and unstructured data is essential. IT operation analytics solutions are probably going to provide strong tools that can assist in generating the necessary insights to proactively assess the impacts, risks, and identify potential outages arising from IT operations in a business environment.

The COVID-19 pandemic  had a significant influence on global production, supply, and demand for goods and services. Because it had a financial impact on both governments and industries equally, it has disrupted the market and the supply chain. Despite this economic unrest, the ITOA market is predicted to develop because of improved internet connectivity, lower component costs, rising demand for connected devices, reasonably priced cloud computing services, and rising IT spending by governments around the globe. Additionally, the market is expected to rise after 2022 due to the easing of limitations around the world and the restart of industrial operations.

US IT Operations Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.