The global ITOA market size is projected to grow from USD 9.3billion in 2020 to USD 45.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 37.2% during the forecast period. The increasing focus on adoption of cloud-based ITOA solutions and proliferation of huge amounts of IT operations data are expected to drive the market growth. However, increasing complexities and dynamic nature of the IT architecture is one of the factors hindering the market growth. The objective of the report is to define, describe, and forecast the ITOA market size based on component, solutions, services, deployment mode, organization size, end user, and region.
In a short time, the COVID-19 outbreak has affected markets and customers’ behavior and is making a substantial impact on economies and societies. With offices, educational institutions, and manufacturing facilities shutting down for an indefinite period; major sports and events being postponed; and work-from-home and social distancing policies in effect, businesses are increasingly looking for technologies to help them sail through these difficult times. The COVID-19 pandemic is impacting businesses across the globe. Analytics companies are trying to fight this pandemic by keeping their assets online and ensuring the privacy and security of data across networks.
“Services: The fastest-growing segment of the ITOA market, by component”
The ITOA market, based on component, covers solutions and services. The services market in the ITOA is expected to grow, as major players are focused on offering services. The adoption of ITOA services has become essential to manage data and detect the ITOA analytics market. It is one of the core components and for the effective working of any system, services need to be installed to increase the efficiency of the entire process.These services are essential to troubleshoot problems related to IT infrastructure and reduce the time it takes to resolve them.
“Cloud deployment mode: The larger growing segment of the ITOA market”
The ITOA market has been segmented on the basis of deployment mode, cloud and on-premises. The on-premises deployement mode has the higher contribution segment owing to the ever-increasing demand for customer engagement and remote asset monitoringfor businesses.The adoption of on-premises ITOA solutions helps IT teams build a dashboard to quickly spot problems. The secure feature of on-premises solutions leads to modernized operations to speed response rates, boost efficiency, and reduce costs. Today, most of the organizations are in need of deploying on-premises solutions to deliver more affordable, safer, sustainable, and reliable services.
“APAC: The fastest-growing region in the ITOA market.”
The growing digitalization across the APAC region to deal with a massive amount of data would drive the adoption of ITOA solutions and services in the region. Moreover, the increasing number of startups and growing government investments in analytics are expected to drive the adoption of ITOA in the APAC region. Furthermore, the existence of a large population, and developing infrastructure and technology are the major factors contributing to the growth of the ITOA market in APAC. The rapid rise in technology adoption from retail and consumer goods, transportation and logistics, and manufacturing end user to enhance customer experience is projected to contribute to the growth of the ITOA market in the region.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
- By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
- By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%
TheITOA market is dominated by a few globally established players such as Oracle (US), IBM (US), SAP (Germany), Micro Focus (UK), Splunk (US), Hitachi (Japan), SAS Institute (US), Broadcom (US), Microsoft (US), SolarWinds (US), Cisco (US), BMC (US), NetApp (US), VMware (US), Elastic (US), Evolven (US), XPLG (US), ExtraHoop (US), NexThink (Switzerland), Appnomic (US), Apptio (US), Sumo Logic (US), Loom Systems (US), Moogsoft (US), iOPEX (US), Nastel Technologies (US), Devo (US), Optanix (US), StackState (US), OpsRamp (US), Humio (UK), OpsDataStore (US), CloudFabrix (US), Digitate (US), and Resolve (US).
The report segments the ITOA market and forecasts its size, by volume and value, based on region (North America, Europe, APAC, MEA, and Latin America), component (solutions and services), by solution (log management, Application Performance Management, root cause analysis, network and security management, anomaly detection, and others [cost management, capacity management, infrastructure management, and business process monitoring]), by service (professional services [consulting, system integration and implementation, and support and maintenance] and managed services), and by deployment mode (cloud and on-premises ), by organization size (SMEs and large enterprises), and end user (BFSI, telecom, manufacturing, transportation and logistics, energy and utilities, retail and consumer goods, healthcare and life sciences, government and defense, and others [media and entertainment, education, and travel and hospitality]).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in ITOA market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
- The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ITOA market and its subsegments.
- It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
- It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.