The IT operations analytics (ITOA) market is projected to grow at a high CAGR of 38.7%, to reach USD 19.84 billion by 2022. The market is driven by the increasing IT operations data in organizations across industries. The adoption of BYOD and IoT by organizations is also expected to drive the ITOA market during the forecast period.
The demand for analytical solutions to analyze increasing IT operational data has resulted in the increased adoption of ITOA solutions across various industries. IT operations analytics is used in applications, such as real-time log analytics, application performance management, infrastructure management, and network and security management, among others. Organizations are using ITOA solutions developed based on technologies, such as visual analytics, machine-based learning, predictive analytics, user-behavior analytics, and root-cause analytics to enhance their IT operations.
The network and security management application segment market is expected to grow at the highest rate during the forecast period. The increase in adoption of cloud and mobile technologies, rise in threat of security breaches, and increase in the number of connected devices are making effective network security and management crucial for businesses. Security is the most critical aspect of businesses, and information security is highly important in creating a secure environment and increasing productivity. A large number of organizations have adopted network and security management solutions and a rising number of organizations are expected to invest in these solutions in the coming years.
The root-cause analytics technology segment market is expected to grow at the highest rate during the forecast period. Organizations are deploying ITOA solutions based on the root-cause analytics technology to eliminate root causes in organizations IT systems. With this technology, the requirement for manpower to analyze and rectify issues is reduced. Organizations rely on the integration of multiple technologies for smooth operations, and with such complex integrations and technologies, identifying the root causes of incidents is becoming challenging for organizations. Hence, these organizations need solutions which will systematically identify the root-causes and subsequently resolve problems.