Global Information Technology Operations Analytics Market to Exhibit 23.7% CAGR between 2014 and 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/29/2017 -- According to the report, global demand for IT operations analytics was valued at USD 2.5 billion in 2014 and is expected to reach USD 9.2 billion in 2020, growing at a CAGR of 23.7% between 2015 and 2020. Zion Market Research has published a new report titled "Information Technology Operations Analytics Market by Software Solution (Visual Analytics, Machine-Based Learning, Predictive Analytics, User-Behavior Analytics and Root-Cause Analytics), for Real-Time Log Analytics, Application Performance Management, Infrastructure Management, Network and Security Management and Others Application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020."
IT operations analytics technology is still relatively immature and it will take another 2 to 5 years to reach maturity. However, the smart MSP's are moving fast to integrate these technologies in their portfolio. In the coming few years it is predicted that the high majority of global 2000 organizations will incorporate IT operations analytics platforms as a central component of their architecture for supervising vital IT services and applications. Factors supporting market growth include exponential increase in data (structured and unstructured) generated by consumers, trending digital consumers and rise in fraudulent practices causing financial losses, and many others.
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The IT operations analytics market is primarily driven by growing demand for IT operational data from end-user industry. Advancement in technology and trends coupled with shifting preference towards cloud computing technology is expected to propel the market growth during the year to come. However, lack of technological and analytical staff in IT industry may hinder the growth of the market. Moreover, emerging new data centers across the globe are expected to open up new opportunities in IT operations analytics market.
Real-time log analytics application segment dominated the global It operation analytics in 2014 with over 30% share in total revenue generated. This is due to increasing number of organizations have realized the advantages of log data analysis, as it offers actionable insights which assist the IT department to keep the organization's IT structure up to date.
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The network and security management application are expected to grow at the highest CAGR during the forecast period. This application of IT analytics aids organizations in the on-demand monitoring of data plus protects them from security breaches.
In terms of a software solution, root-cause analytics shows great opportunities and holds the majority of share over 25% share of the overall market. This segment is predicted to grow at the highest CAGR by 2020. Root-cause analytics is followed by predictive analytics and user-behavior learning segment.
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On-premise is a most preferred mode of delivery of global IT operations analytics market in 2014 and further, it is predicted to remain to prolong segment of delivery mode. In terms of organization size, large enterprises contribute to the biggest share of the market in 2014. Due to the high installed capacity and strong investment capabilities, large enterprises implement advancing technology and trends rapidly compared to small and medium enterprises.
Across the different end-user industry, IT and communications were dominating segments that accounted around 25% shares of global IT operation analytics market in 2014. They are expected to remain the largest markets throughout the forecast period ending 2020. Moreover, cloud or on-demand IT operation analytics segment is expected to witness increasing demand during the forecast period due to their cost benefits.
In terms of regions, North America exhibits the largest share of IT operations analytics market in 2014. It accounted more than half of the share of the market and it is also predicted to remain to prolong regional market during the forecast period. North America was followed by Europe and Asia Pacific region.
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