Global IT Operations Analytics Market Size, Share & Trends Analysis Report By Enterprise Size, By Technology, By Deployment Type, By Application, By End Use, By Regional Outlook and Forecast, 2024 - 2031

Global IT Operations Analytics Market Size, Share & Trends Analysis Report By Enterprise Size, By Technology, By Deployment Type, By Application, By End Use, By Regional Outlook and Forecast, 2024 - 2031

The Global IT Operations Analytics Market size is expected to reach $69.3 billion by 2031, rising at a market growth of 24.9% CAGR during the forecast period.

The increasing adoption of digital services and e-governance initiatives propels the segment's growth. Governments worldwide are leveraging ITOA tools to monitor critical IT infrastructure, ensure the reliability of public services, and safeguard sensitive citizen data from cyber threats. With growing concerns about cybersecurity and the need for efficient resource allocation, ITOA supports government agencies in managing large-scale IT networks, detecting anomalies, and maintaining operational continuity during crises. Thus, the government segment procured 14% revenue share in the IT operations analytics market in 2023.

The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, 2024, August, Alteryx partnered with Udacity, an American educational company, to launch a comprehensive data preparation course using Alteryx Designer. This partnership aimed to expand AI and data literacy, offering hands-on training to equip learners with essential skills for predictive analytics, and supporting the growing demand for data-savvy professionals in modern organizations. Additionally, In June, 2024, IBM Corporation partnered with Telefónica Tech, a Spanish telecommunications company, to enhance AI, analytics, and data governance solutions in Spain. This partnership would develop an open, hybrid, multi-cloud platform, SHARK.X, featuring IBM's Watson AI and Data platform.

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the IT Operations Analytics Market. Companies such as IBM Corporation, Oracle Corporation, and SAP SE are some of the key innovators in IT Operations Analytics Market. In June, 2023, Microsoft Corporation signed a partnership with Moody’s, a financial services company. The partnership aimed to develop advanced data, analytics, and risk solutions using Microsoft Azure OpenAI Service.

Market Growth Factors

The widespread adoption of big data analytics and artificial intelligence (AI) is revolutionizing how organizations manage their IT operations. With the exponential growth of data generated by IT systems, tools powered by big data analytics have become essential for processing and analyzing vast amounts of information.

Additionally, the increasing complexity of modern IT environments has significantly heightened the demand for real-time monitoring solutions. As organizations adopt hybrid cloud infrastructures, edge computing, and Internet of Things (IoT) devices, their IT landscapes have become more dynamic and interconnected. Thus, these factors are aiding in the growth of the market.

Market Restraining Factors

Adopting IT operations analytics (ITOA) solutions often requires substantial initial investments. These costs typically include the procurement of specialized software and hardware infrastructure, which are necessary to handle the data collection, storage, and analysis demands of ITOA systems. Furthermore, the implementation process often necessitates the hiring or training of skilled personnel capable of managing and interpreting the insights these tools provide. Hence, this financial hurdle often results in a slower adoption rate among SMEs, limiting the market's overall growth, particularly in emerging economies with higher cost sensitivity.

Enterprise Size Outlook

Based on enterprise size, the market is bifurcated into large enterprises and small & medium enterprises. The small & medium enterprises segment procured 37% revenue share in the market in 2023. SMEs increasingly adopt cost-effective and scalable ITOA solutions to enhance operational efficiency, minimize downtime, and improve customer satisfaction.

Technology Outlook

On the basis of technology, the market is classified into behavior analytics, machine-based learning, predictive analytics, root-cause analytics, and visual analytics. The predictive analytics segment witnessed 20% revenue share in the market in 2023. The segment is driven by its capability to foresee potential IT issues and recommend preventive measures.

Deployment Type Outlook

By deployment type, the market is divided into cloud and on-premise. The on-premise segment procured 43% revenue share in the market in 2023. On-premise ITOA solutions provide greater control over sensitive data, making them the preferred choice for finance, healthcare, and government industries.

Application Outlook

Based on application, the market is segmented into security management, application performance management, network management, log management, asset performance management, infrastructure management, and others. The network management segment witnessed 16% revenue share in the IT operations analytics market in 2023.

End Use Outlook

By end use, the market is divided into BFSI, government, healthcare, manufacturing, media & entertainment, telecom & IT, retail, travel & hospitality, and others. The manufacturing segment acquired 13% revenue share in the market in 2023. The segment's expansion is fueled by the adoption of Industry 4.0 technologies and IoT-enabled devices.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment garnered 31% revenue share in the market in 2023. European organizations are leveraging ITOA tools to comply with regulatory frameworks like GDPR while optimizing IT operations.

Recent Strategies Deployed in the Market

• Aug-2024: Alteryx partnered with Udacity, an American educational company, to launch a comprehensive data preparation course using Alteryx Designer. This partnership aimed to expand AI and data literacy, offering hands-on training to equip learners with essential skills for predictive analytics, and supporting the growing demand for data-savvy professionals in modern organizations.
• Aug-2024: Alteryx introduced new features enhancing its AI Platform for Enterprise Analytics. Key updates include Alteryx Auto Insights' improved Playbooks for self-service data exploration and Alteryx Location Intelligence's new orchestration capabilities with Alteryx Analytics Cloud (AAC) Plans, boosting efficiency and simplifying analytics for non-technical users.
• Jun-2024: IBM Corporation partnered with Telefónica Tech, a Spanish telecommunications company, to enhance AI, analytics, and data governance solutions in Spain. This partnership would develop an open, hybrid, multi-cloud platform, SHARK.X, featuring IBM's Watson AI and Data platform.
• Apr-2024: Fair Isaac Corporation signed a partnership with Atto, an American manufacturing company, to enhance UK lenders' credit risk assessment by integrating Open Banking data into credit scoring. This partnership combined Atto's Open Banking technology with FICO's transaction data analytics, offering predictive models that improve risk management, customer acquisition, and portfolio performance for lenders in the UK.
• Apr-2024: Fair Isaac Corporation teamed up with Cognizant, an American IT company, to launch a cloud-based, real-time payment fraud prevention solution using FICO Falcon Fraud Manager. This AI and ML-powered offering would protect banks and payment providers in North America from fraud in instant digital payments, enhancing transaction security and reducing losses.

List of Key Companies Profiled

• IBM Corporation
• Oracle Corporation
• SAP SE
• Microsoft Corporation
• SAS Institute Inc.
• NTT Data Corporation
• TIBCO Software, Inc. (Vista Equity Partners Management, LLC)
• Salesforce, Inc.
• Alteryx, Inc.
• Fair Isaac Corporation (FICO)

Global IT Operations Analytics Market Report Segmentation

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By Technology

• Behavior Analytics
• Machine-Based Learning
• Predictive Analytics
• Root-Cause Analytics
• Visual Analytics

By Deployment Type

• Cloud
• On-Premise

By Application

• Security Management
• Application Performance Management
• Network Management
• Log Management
• Asset Performance Management
• Infrastructure Management
• Other Application

By End Use

• BFSI
• Government
• Healthcare
• Manufacturing
• Media & Entertainment
• Telecom & IT
• Retail
• Travel & Hospitality
• Other End Use

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA