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IT Monitoring Tools Market: Key Drivers and Challenges
The market is driven by improving the efficiency of IT operations. With the help of IT monitoring, businesses are now capable of tracking the real-time performance of critical IT infrastructures such as downtime, bandwidth use, performance metrics, hardware outages, and other parameters. This helps businesses maintain their online presence and improve overall operational efficiency. Such benefits are increasing the adoption of IT monitoring tools among prospective end-users, which is driving the growth of the market.
In addition, the growing use of big data for IT monitoring and analytics will further accelerate the growth of the market during the forecast period.
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IT Monitoring Tools Market: Segmentation Analysis
The IT monitoring tools market is analyzed by product and geography and geography landscape. By product, the market is generating high revenue in the ITOA segment. Growing complexity in business operations is driving organizations to embrace automation by investing in ITOA tools. In addition, the increasing integration of machine learning and natural language algorithms into ITOA tools is further driving the growth of the segment.
Similarly, in terms of geography, North America will emerge as the largest market for IT monitoring tools during the forecast period. The emergence of the US as the major hub for data center hosting and large-scale server installations is one of the key factors driving the growth of the regional market. In addition, the rising demand for cloud-based services, increasing investments in the telecom industry, intensified adoption of IoT devices, and the launch of new software and hardware platforms are contributing to the growth of the IT monitoring tools market in North America.
Companies Mentioned
The global IT monitoring tools market is fragmented due to the presence of many domestic and international vendors offering a wide range of products and services. The growing complexity of technology platforms and data and infrastructure is driving vendors to focus on developing automated and AI-driven product solutions that track, monitor, analyze, and apply diagnostic solutions automatically. These are some of the players currently dominating the global IT monitoring tools market.
- BMC Software Inc.: The company offers TrueSight. It is an AIOps platform, powered by machine learning and analytics. It elevates IT operations to improve the quality and performance of digital services that run in hybrid and multi-cloud environments.
- Broadcom Inc.: The company offers network monitoring software for traditional, SDN, and cloud networks.
- Hewlett Packard Enterprise Co.: The company offers HPE Adaptive Management Services. These are tools to remotely monitor and operate IT infrastructure and applications, detect and help resolve issues, and provide advice on ways to continuously improve operations.
- International Business Machines Corp.: The company offers IBM Tivoli Monitoring. The product monitors the performance and the availability of distributed operating systems and applications. These products are based on a set of common service components, referred to collectively as Tivoli Management Services.
- Microsoft Corp.: The company offers Azure Log Analytics. It is used for IT management by collecting telemetry and other data from a variety of sources and providing a query language and analytics engine that gives insights into the operation of applications and resources.
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IT Monitoring Tools Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 29% |
Market growth 2021-2025 |
USD 30.10 billion |
Market structure |
Fragmented |
YoY growth (%) |
23.45 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 45% |
Key consumer countries |
US, China, UK, Germany, Canada, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
BMC Software Inc., Broadcom Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., New Relic Inc., SAS Institute Inc., Splunk Inc., VMware Inc., and Zoho Corp. Pvt. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- ITOA - Market size and forecast 2020-2025
- ITIM - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by Product
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BMC Software Inc.
- Broadcom Inc.
- Hewlett Packard Enterprise Co.
- International Business Machines Corp.
- Microsoft Corp.
- New Relic Inc.
- SAS Institute Inc.
- Splunk Inc.
- VMware Inc.
- Zoho Corp. Pvt. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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