IT Operations Management Software Market Size To Hit USD 105.09 Billion By 2030


 San Francisco, 18 Oct 2024: The Report IT Operations Management Software Market Size, Share & Trends Analysis Report By Deployment (Cloud, On-Premises), By Enterprise Size (Large Enterprises, SMEs), By Vertical (BFSI, IT & Telecom), By Region, And Segment Forecasts, 2024 - 2030

The global IT operations management software market size to reach at USD 105.09 billion in 2023 and is projected to grow at a CAGR of 10.9% from 2024 to 2030,driven by the digital transformation across industries and the adoption of cloud and hybrid IT environments. Growing demand for automation and AI solutions is enhancing operational efficiency, while the need for improved user experience and regulatory compliance is fueling further adoption of IT operations management (ITOM) tools. These solutions are increasingly essential for managing complex IT ecosystems and ensuring performance, security, and service continuity. Enterprises are investing in advanced ITOM technologies to address rising IT complexity, optimize operations, and meet evolving security and compliance requirements.

The adoption of DevOps practices, expansion of IoT, and demand for real-time data analytics are driving the need for ITOM software as organizations strive to streamline operations and enhance decision-making. ITOM solutions help manage the growing complexity of IT environments, ensuring smooth collaboration between development and operations teams while optimizing the performance of connected devices. As businesses adopt multi-cloud and hybrid cloud strategies, ITOM tools are essential for managing diverse infrastructures, improving resource allocation, and enhancing operational coordination. The push for cost optimization further accelerates ITOM adoption, enabling automation, efficient resource utilization, and cost savings.

Access Research Report of IT Operations Management Software Market @ https://www.grandviewresearch.com/industry-analysis/it-operations-management-software-market-report

The rise of edge computing and 5G networks presents new opportunities and challenges, requiring advanced ITOM tools to ensure low latency and high-speed connectivity. AIOps is transforming IT operations by automating tasks such as anomaly detection and predictive maintenance, enhancing operational efficiency. Sustainability efforts are also gaining importance, with organizations adopting ITOM software to monitor energy consumption and reduce carbon footprints in data centers. In addition, the shift to remote work has increased IT complexity, making ITOM software essential for managing remote infrastructures, ensuring business continuity, and enhancing the remote workforce experience.

Recent Developments

  • In June 2024, Freshworks Inc.announced that it had completed the acquisition of Device42, a company known for providing complete, real-time visibility of assets across an organization’s whole IT infrastructure. This acquisition marks a major advancement in offering more holistic IT solutions, enabling organizations to enhance IT operations and achieve greater business success
  • In May 2023, SoftwareOne AG, a global provider of comprehensive software and cloud technology solutions, announced its agreement to acquire Beniva Consulting Group Inc., a prominent provider of IT and Operations Management (ITOM), ServiceNow, Configuration Management Database (CMDB), Cloud Advisory, and Application Services. This acquisition enhances SoftwareOne AG’s market-leading IT Asset Management (ITAM) services by adding advanced process automation and service management expertise.
  • In March 2023, Hewlett Packard Enterprise Development LP, an American multinational information technology company, entered into a definitive agreement for the acquisition of OpsRamp, LLC, an IT operations management (ITOM) company. The acquisition aims to reduce the operational complexity of multi-cloud and multi-vendor IT environments spanning public cloud, colocation, and on-premises setups.

Key IT Operations Management Software Company Insights

Key players in the industry have strengthened their market presence through a strategic mix of product launches, expansions, mergers and acquisitions, contracts, partnerships, and collaborations. These initiatives serve as vital tools for enhancing market penetration and strengthening their competitive edge within the industry. For instance, in May 2024, SolarWinds Worldwide, LLC, a leading provider of secure, powerful, and user-friendly observability and IT management software, introduced SolarWinds AI to revolutionize IT operations and equip technology experts to handle the complexities of modern digital environments. The generative AI engine was specifically developed using SolarWinds' newly launched AI by Design framework, which focuses on ensuring privacy, security, and reliability in the development of advanced AI technologies.

Key IT Operations Management Software Companies:

The following are the leading companies in the IT operations management software market. These companies collectively hold the largest market share and dictate industry trends.

  • BMC Software, Inc.
  • Cisco Systems, Inc.
  • Elasticsearch B.V.
  • Freshworks Inc.
  • IBM Corporation
  • Microsoft
  • ServiceNow
  • SolarWinds Worldwide, LLC.
  • Splunk Inc.
  • Zoho Corporation Pvt. Ltd.

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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