The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Information Technology (IT) Operations Management Software Global Market Report 2024 offers crucial insights into the information technology (IT) operations management software market help businesses analyse and build stronger strategies.

The information technology (IT) operations management software market is experiencing significant growth. In this blog, we’ll explore the key drivers, market trends, and forecasts for this burgeoning industry.

Market Growth and Key Drivers

• Strong Recent Growth: The IT operations management software market grew from $2.33 billion in 2023 to $2.46 billion in 2024, marking a compound annual growth rate (CAGR) of 5.7%.
• Driving Factors:
  • Increased enterprise use of cloud computing technologies.
  • Explosive growth in the banking industry, e-commerce, and cloud-based services.
  • Higher demand for cloud video streaming services.
  • Expansion of data center infrastructure.

Future Market Outlook

• Continued Expansion: The market is projected to grow to $3.10 billion by 2028, with a CAGR of 5.9%.
• Growth Factors:
  • Investment in advanced data centers.
  • Adoption of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) systems.
  • Rising demand for cloud management services and multi-cloud platforms.
  • Increasing IT infrastructure spending.
  • Growing need for automation in processes.

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Role of IT Operations Management Software in Cybersecurity

• Addressing Cybersecurity Concerns: The rise in cybersecurity threats is a significant driver for the IT operations management software market.
• Key Issues:
  • Cyber threats are increasing due to the shift to remote work and the adoption of emerging technologies.
  • There is a shortage of cybersecurity professionals.
• Market Response:
  • IT operations management software enhances cybersecurity defenses and improves threat detection and response.
  • Example: In Australia, over 76,000 cybercrime reports were filed in the 2021–22 financial year, a 13% increase from the previous year. This underscores the growing need for robust cybersecurity measures.

Integration of IoT Platform Software

• Innovative Solutions: Companies are integrating IoT platform software with IT operations management to enhance monitoring, management, and security.
• What Is IoT Platform Software? It’s designed to manage and control IoT devices and applications within an organization’s IT infrastructure.
• Recent Development: In April 2022, Manufacturing Automation & Software Systems Group Inc. launched ScannerIO, an IoT platform that automates data collection from various devices, improving manufacturing processes.

Strategic Acquisitions and Partnerships

• Hewlett-Packard Enterprise’s Move: In May 2023, Hewlett-Packard Enterprise acquired OpsRamp Inc. to enhance its GreenLake platform.
• Purpose of Acquisition: The integration aims to simplify IT operations in complex multi-cloud environments, offering comprehensive visibility and control.
• Impact: This acquisition positions Hewlett-Packard Enterprise to support organizations in navigating multi-cloud strategies effectively.

Market Segmentation and Regional Insights

• Market Segments:
  • By Type: Cloud-based and on-premise solutions.
  • By Application: Large enterprises and small and midsize enterprises (SMEs).
  • By End-User: Industries including BFSI, IT and telecom, retail and consumer goods, manufacturing, energy and utilities, media and entertainment, government, healthcare, and others.
• Regional Insights:
  • North America: The largest market in 2023.
  • Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

Conclusion

The IT operations management software market is poised for strong growth, driven by advancements in cloud computing, cybersecurity needs, and the integration of IoT technologies. As organizations continue to innovate and adapt to changing technological landscapes, this market is set to expand further, offering new opportunities for companies and service providers alike.

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The Information Technology (IT) Operations Management Software Global Market Report 2024  provides a comprehensive outlook of the information technology (IT) operations management software market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The information technology (IT) operations management software market forecast offers a thorough analysis on information technology (IT) operations management software market size, information technology (IT) operations management software market share, prominent players and their strategies.

The Table Of Content For The Information Technology (IT) Operations Management Software Market Include:
1. Information Technology (IT) Operations Management Software Market Executive Summary
2. Information Technology (IT) Operations Management Software Market Segments
3. Information Technology (IT) Operations Management Software Market Size And Information Technology (IT) Operations Management Software Market Growth Rate
4. Key Information Technology (IT) Operations Management Software Market Trends
5. Major Information Technology (IT) Operations Management Software Market Drivers
……
25. Key Mergers And Acquisitions In The Information Technology (IT) Operations Management Software Market
26. Top Information Technology (IT) Operations Management Software Companies
27. Information Technology (IT) Operations Management Software Market Opportunities And Strategies
28. Information Technology (IT) Operations Management Software Market, Conclusions And Recommendations
29. Appendix

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