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IT Operation Analytics (ITOA) Market to Reach $191.1 Billion, Globally, by 2032 at 32.5% CAGR: Allied Market Research

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The global IT operation analytics market is driven by an increase in focus on enhancing operational efficiency, and rising need for real-time insights and proliferation of huge amounts of IT operations data

PORTLAND, Ore., Aug. 16, 2023 /PRNewswire/ — IT operations analytics (ITOA) is a way of retrieving, analyzing, and reporting information about IT operations. Cloud computing services enable enterprises to store and handle massive volumes of data by providing scalable infrastructure. ITOA solutions assist enterprises to maintain a high standard of service quality by offering real-time data on IT system efficiency, accessibility, and security. 

Allied Market Research published a report, titled, “IT Operation Analytics Market Component (Solution, and Service) Type (Predictive Analytics, Visual Analytics, Root Cause Analytics, Behavior Analytics, and Others) Deployment Mode (On-Premise, and Cloud) Enterprise Size (Large Enterprises, and Small and Medium-Sized Enterprises) and End User (BFSI, Healthcare, Retail and E-Commerce, Manufacturing, Government, Telecom, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global IT operation analytics industry generated $11.7 billion in 2022, and is anticipated to generate $191.1 billion by 2032, witnessing a CAGR of 32.5% from 2023 to 2032.  

Prime determinants of growth  

The convergence of IT operations and security analytics and surge in adoption of cloud-based infrastructures drive the growth of the IT operation analytics market. However, the limited investments by organizations to upgrade the prevailing IT system is expected to hamper market growth. On the contrary, the proliferation of Internet of Things (IoT) devices and edge computing is anticipated to provide lucrative development opportunities for the IT operation analytics market in the forthcoming years.  

Download Sample Report athttps://www.alliedmarketresearch.com/request-sample/157641

Report coverage & details:

Report Coverage 

Details 

Forecast Period 

2023–2032 

Base Year 

2022

Market Size in 2022 

$11.7 Billion

Market Size in 2032 

$191.1 Billion

CAGR

32.5 %

No. of Pages in Report 

310

Segments covered 

Component, Type, Deployment Mode, Enterprise Size, End user, and Region.  

Drivers  

Proliferation of huge amounts of IT operations data 

Increase in focus on enhancing operational efficiency  

Rise in need for real-time insights  

Opportunities

Increase in adoption of artificial intelligence and machine learning.

Growth in need of companies for holistic 360-degree visibility.  

Restraints 

Increase in complexities and data security concerns  

 

Covid-19 Scenario 

  • The pandemic accelerated the digital transformation efforts of many businesses. As organizations rapidly adopted remote work arrangements, online services, and digital platforms, the complexity and volume of IT infrastructure grew significantly. This created a greater need for advanced analytics tools to monitor, manage, and optimize these complex IT environments effectively.  
  •  Overall, ITOA solutions had played an important role in improving business continuity and resilience by providing visibility into IT performance and identifying inefficiencies for cost optimization. In addition, the increased demand for cloud-based services during the pandemic prompted IT operation analytics providers to expand their cloud-based offerings. Therefore, the COVID-19 pandemic had a positive impact on the IT operation analytics market. 

Buy this Complete Report (310 Pages PDF with Insights, Charts, Tables, and Figures) at:

https://www.alliedmarketresearch.com/it-operation-analytics-itoa-market/purchase-options

The root cause analytics segment garnered the major share in 2022 

Based on type, the root cause analytics segment held the highest market share in 2022, accounting for more than one-third of the global IT operation analytics market revenue and is estimated to maintain its leadership status throughout the forecast period. Increasing IT operations data, a number of sensors for fault diagnosis, and the number of Internet of Things (IoT) devices has led to an increase in the demand for root cause analytics in enterprises. The root cause is the primary reason for the drop in the quality or the overall device/equipment effectiveness of an asset. The use of analytics in this domain has gained prime importance. However, the predictive analytics segment is projected to manifest the highest CAGR of 35.9% from 2023 to 2032, Predictive analytics helps by analyzing vast amounts of data and by providing meaningful insight into the problems thus leading to proactive planning, decision-making, and actions. Therefore, these trends are expected to drive the growth of the IT operation analytics market.   

The BFSI segment to maintain its leadership status throughout the forecast period 

Based on end user, the BFSI segment held the highest market share in 2022, accounting for more than one-fourth of the global IT operation analytics market revenue, owing to the increasing adoption of analytics solutions by banking and financial companies for their in-house operations. Operational analytics is likely to help banks in risk management, fraud management, and customer understanding to develop and retain a profitable customer base. However, the manufacturing segment is projected to manifest the highest CAGR of 38.6% from 2023 to 2032, as ITOA provides manufacturers with actionable insights derived from data analysis. These insights can inform decision-making processes, such as optimizing production schedules, improving supply chain management, and enhancing overall operational efficiency.  

North America garnered the major share in 2022 

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global insurance chatbot market revenue, owing to increasing adoption of cloud computing across the region provides opportunities for vendors to provide ITOA solutions. Furthermore, with the growth of IIoT across Industry 4.0 platform, ITOA is gaining traction within hybrid IT operations environment. However, the Asia-Pacific region is expected to witness the fastest CAGR of 36.0% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to the increasing awareness of operational analytics among enterprises in emerging countries such as China and India. The growing popularity of cloud computing and the adoption of IoT and smart technologies are the key growth drivers expected to boost the regional ITOA market.  

Leading Market Players: –

  • Oracle 
  • IBM 
  • Cisco Systems, Inc. 
  • SAS Institute Inc. 
  • Broadcom 
  • Microsoft 
  • Hitachi, Ltd. 
  • Micro Focus 
  • BMC Software, Inc. 
  • SAP SE  

The report provides a detailed analysis of these key players of the global IT operation analytics (ITOA) market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/157641

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
United States
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Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]

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Blockchain Press Releases

Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

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Blockchain Press Releases

Bitget Wallet now supports the Blast Mainnet, pioneering full ecosystem support as a Web3 wallet

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VICTORIA, Seychelles, March 1, 2024 /PRNewswire/ — The globally leading Web3 trading wallet Bitget Wallet has now integrated support for the Blast Mainnet, making it the first all-in-one Web3 wallet for the Blast ecosystem. Users can effortlessly add and switch mainnets within the wallet with just one click, without the need for manual configuration. This integration enables users to manage, transfer, swap, and interact on one of the largest L2 launches in 2024.

Bitget Wallet has aggregated liquidity from mainstream DEXs within the Blast ecosystem, such as BlasterSwap and MonoSwap, into its Swap feature. This allows for mainnet token Swap transactions, providing users with convenient services for trading assets on the Blast blockchain.

During the Blast testnet phase, Bitget Wallet was among the first to offer support, unveiled a dedicated zone in its DApp page for Blast. This section featured over 40 elite projects from Blast’s Big Bang incentive program, enabling users to easily explore, interact, and potentially receive future airdrops in the Blast ecosystem. Following the launch of the Blast mainnet, Bitget Wallet plans to continue integrating popular projects from the Blast ecosystem, offering users extensive asset management features and a comprehensive ecosystem experience.

Bitget Wallet’s COO, Alvin Kan, highlights Blast as a Layer 2 solution with staking at its core, gaining market attention since launch. He says, “We’re committed to cutting-edge tech, lowering Web3 engagement barriers. Collaborating with quality mainnets like Blast, we aim to drive Web3 ecosystem growth.”

This week, Bitget Wallet engages with popular Blast ecosystem projects, exploring market traction, “Stake Layer 2” narrative, TVL enhancement strategies by staking and earning points, notable projects, and effective ways for users to participate in the Blast ecosystem upon mainnet launch. This provides users with valuable insights for meaningful ecosystem engagement.

Additionally, Bitget Wallet is organizing major events to support the Blast ecosystem, providing users with opportunities for discovering new assets.

About Bitget Wallet

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

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Blockchain Press Releases

Cashback and Crypto: Bybit’s Monthly Bonanza

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DUBAI, UAE, March 1, 2024 /PRNewswire/ —Bybit, one of the world’s top three crypto exchanges by volume, now unveils March’s Fiat Cashback Splash for both fresh and seasoned users who make fiat deposits.

This effort celebrates both new and familiar faces within the Bybit fold. The “Fiat Cashback Splash” is part of Bybit’s pledge to be the world’s Crypto Ark, leading the way to the new financial system, and offering straightforward chances for anyone to get involved. Indeed, any crypto users, including newcomers, will be able to walk the crypto path with Bybit as a reliable ally.

“We aim to always offer more to our users, and the Fiat Cashback Splash is our latest move to improve their journey,” said Ben Zhou, Bybit’s co-founder and CEO. “The Fiat Cashback Splash is our way of saying thank you to our community, both old and new, for their trust and support.”

This event spans the first week of every month and any one of Bybit’s 20 million users who bring fiat to the table will see rewards. Newcomers putting down $100 through fiat or a single click buy will get up to $10 back on fees. Those already with Bybit, depositing $500 or more, will see $5 returned.

For the heavy hitters depositing over $5,000, Bybit adds a $30 Buy Crypto Coupon into the mix, widening the horizon for investment.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Bybit Logo

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