Research and Markets released the IT Operations Analytics Market - Global Forecast to 2022, reporting that the IT operations analytics market is projected to grow from an estimated USD 2.78 billion in 2016 to USD 19.84 billion by 2022, at a CAGR of 38.7% during the forecast period.
Major growth drivers for this market include the tremendous growth of IT operations data and adoption of BYOD and IoT in organizations across industries. The primary restraint for this market is the frequent changes happening in IT infrastructure and operations to meet the growing demands of changing business environments.
The on-demand segment of IT operations analytics by deployment type is estimated to grow at the fastest rate during the forecast period. Organizations are expected to rapidly adopt on-demand or cloud-based deployment for ITOA solutions in the near future. Cloud deployment offers multiple benefits to organizations, such as reduced cost on physical infrastructure, anytime accessibility, and effective monitoring of data. However, challenges such as legal regulations, data security, performance, reliability, transformation complexity, operational control, and data governance may hinder the rate of deployment of ITOA solutions on the cloud. Reduced total cost of ownership is a key factor that is expected to fuel the cloud deployment of ITOA solutions.
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