IT Operations Analytics Market Size Worth $15.55 Billion By 2027 | Grand View Research, Inc.

Read 110 page research report with ToC on "IT Operations Analytics Market Size, Share & Trends Analysis Report By Type (Visual, Predictive, Behavior, Root Cause), By Application, By Deployment, By End Use, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/it-operations-analytics-market

The introduction of ITOA solutions has enabled organizations to analyze operational data effectively and to gain meaningful insights. These solutions offer higher efficiency compared to traditional data analytics tools. Moreover, the impact of IT operation analytics is not limited to improving the performance and efficiency of operational processes. Several companies have started using these efficiency gains as an underlying basis to improve customer experience. For instance, Tesco PLC, a U.K.-based retail company, has been using analytics for improving its supply chain processes and has realized savings of around USD 125 million annually since 2013. Retailers also use the supply chain statistics model to predict customer behavior and understand stock holdings. The analytics capabilities have ensured an increase in the footfall of in-store and online customers, along with an increase in customer satisfaction levels.

The analytics industry is witnessing an increase in the number of niche players compared to traditional players owing to the need for less capital investment and the dynamic nature of technological innovations. Although the market is characterized by the presence of prominent vendors such as IBM Corporation; BMS Software Inc.; and Microsoft Corporation, the growth of start-ups such as Splunk Inc.; ExtraHop; and SignalFx has been noteworthy. Moreover, the market is also witnessing a significant rise in the pay-as-you-go (SaaS-based solutions) delivery model for delivering ITOA solutions as it offers convenience for vendors and customers. However, concerns such as data security, lack of awareness among enterprises, and lack of investment are likely to be the key challenges in the IT operation analytics market. Additionally, the recent outbreak of the COVID-19 pandemic is expected to temporarily slow down the growth rate of the market globally.

Grand View Research has segmented the global IT operations analytics market based on type, application, deployment, end-use, and region:

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