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IT Operations Analytics (ITOA) Market worth $127.4 billion by 2029- Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 13, 2024 /PRNewswire/ — The IT Operations Analytics Market is estimated to grow from USD 26.8 billion in 2024 to USD  127.4 billion in 2029, at a CAGR of 36.6% during the forecast period, according to a new report by MarketsandMarkets™. The growth of ITOA market is driven by the surge in IT operations data, which mandates advanced analytics, that allows efficient handling and management of the data. The complexity of multi-cloud environments pushes demand for unified analytics solutions and the growing need for real-time insights and automation.

Browse in-depth TOC on “IT Operations Analytics (ITOA) Market”

332 – Tables
63 – Figures
362 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

USD Billion

Segments Covered

Offering solutions [Cloud and On-Premises] and Services [Professional Services {Consulting, System Integration & Implementation, Support & Maintenance} and Managed Services]]), Data Source (Machine Data, Wire Data, Agent Data, Synthetic Data, Human Data), Technology (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Diagnostic Analytics) Application (Log Management & Analysis, Application Performance Monitoring, Anomaly Detection and Root Cause Analysis, Network Management, IT Service Management, Infrastructure Management, Security & Event Management and Other Applications [BPM, cost management, and capacity management]) and End User (BFSI, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences, IT&ITeS, Telecommunication, Transportation & logistics, Government & Defense, Energy & Utilities Telecommunication and Other end users [Media & Entertainment, Travel & Hospitality, and Education]).

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Companies covered

Key players are Microsoft (US), IBM (US), Oracle (US), Cisco (US), OpenText (Canada), Hitachi (Japan), Dynatrace (US), Broadcom (US), SolarWinds (US), BMC Software (US), NetApp (US), Elastic (US), Nexthink (Switzerland), HCL Technologies (India), New Relic (US), ServiceNow (US), Dell Technologies (US), HPE (US), Cloud Software Group (US), Veritas Technologies (US), BigPanda (US), ExtraHop Networks (US), Squadcast (US), ScienceLogic (US), Apica (Sweden), Diamanti (US), MCG (Denmark), Evolven (US), XPLG (US), HEAL Software (US), Sumo Logic (US), Devo (US), meshIQ (US), and CloudFabrix (US).

By offering, the services segment to account for higher CAGR during the forecast period.

The service segment is projected to grow the fastest, due to the growing complexity of IT systems in organizations and the need for specialized expertise. Organizations have now begun the adoption of advanced analytics tools that will require an end-to-end service to help implement the integration of the organizational analytics program while continuing to optimize the program over time. Companies need consulting service support in order to help develop and implement tailored solutions or initiatives leveraging analytic tools for their unique business needs and environments. It is expected that companies will begin to transition to the use of managed services as third parties are willing to take over the management of the ITOA solutions so that the organization can focus on their core business. The growth in services is largely driven by the continuous support and maintenance that is required to support the ITOA program especially when organizations want to ensure that ITOA tools are continuously providing value (effectiveness/ROI).

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By end user, BFSI is expected to hold the largest market size for the year 2024.

The BFSI sector is projected to have the largest market share in the ITOA market, owing to the growing demand for data analytics to manage complex IT environments and provide uninterrupted services. IT operations analytics has a important role in maintaining system uptime and security and improving the performance of IT infrastructure within the closely regulated BFSI industry. The benefit of using ITOA solutions for real-time monitoring, predictive maintenance, and automated issue resolution is especially important for this sector, where downtime can be a cause of considerable financial losses and regulatory fines. Online banking and financial institutions are taking the digital transformation approach by adopting the most cutting-edge IT operations analytics tools that are capable of managing such huge data, as well as being integrated with the existing systems, thus consolidating the sector’s leadership in the ITOA market.

By Application, IT service management is projected to grow at the highest CAGR during the forecast period.

Companies are increasingly adopting ITSM applications embedded with ITOA solutions to gain deeper insights into service performance, automate workflows and proactively address issues as they strive to improve service delivery, customer satisfaction. This application help in smoothing incident management, change management, and service request processes by providing deep insights through data analytics. The possibility of predicting and preventing service outages with the help of ITOA-driven ITSM tools has become a differentiator that enables high service levels while reducing downtime. With increasing digital transformations, there is a subsequent increase in demand for ITSM applications that use advanced ITOA capabilities in the support of agile and responsive IT environments, further expected to boost this market segment at exponential rates.

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Asia Pacific is expected to grow at the highest CAGR during the forecast period.

Asia Pacific has witnessed the advanced and dynamic adoption of new technologies. The region is expected to record the highest CAGR during the forecast period. The existence of a large population, and developing infrastructure and technology are the major factors contributing to the growth of the ITOA market in Asia Pacific. The rapid rise in technology adoption from retail and consumer goods, transportation and logistics, and manufacturing industry verticals to enhance customer experience is projected to contribute to the growth of the ITOA market in the region. Asia Pacific constitutes major countries, such as China, India, Japan, and the rest of Asia Pacific, which are increasingly contributing toward investments in network and security management and anomaly detection solutions that would reduce downtime and total cost of ownership. ITOA adoption across Asia Pacific continues to grow steadily as governments, municipalities, and enterprises move from proof of concept and tests to live deployments as part of a strategy to enhance productivity and efficiency, build smart city infrastructures, capitalize on new technologies, and embrace digital transformation.

Top Key Companies in IT Operations Analytics Market:

The major ITOA solutions and service providers Microsoft (US), IBM (US), Oracle (US), Cisco (US), OpenText (Canada), Hitachi (Japan), Dynatrace (US), Broadcom (US), SolarWinds (US), BMC Software (US), NetApp (US), Elastic (US), Nexthink (Switzerland), HCL Technologies (India), New Relic (US), ServiceNow (US), Dell Technologies (US), HPE (US), Cloud Software Group (US), Veritas Technologies (US), BigPanda (US), ExtraHop Networks (US), Squadcast (US), ScienceLogic (US), Apica (Sweden), Diamanti (US), MCG (Denmark), Evolven (US), XPLG (US), HEAL Software (US), Sumo Logic (US), Devo (US), meshIQ (US), and CloudFabrix (US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the ITOA market.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

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24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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Global Times: China opens 12 nuclear research facilities to global scientists

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The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

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The Ar-King of Spirits: Ed Arking’s Impact on the Liquor Industry

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In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

MOORESTOWN, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — Served Neat is an emerging online platform with a curated selection of some of the world’s most popular luxury spirits. The website offers daily flash deals that highlight a variety of high-end international brands including Pappy Van Winkle, Buffalo Trace, Clase Azul, and more.

“While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Ed and Joe Arking, the father-son team behind the concept of Served Neat, have decades of experience hand-selecting and supplying sought-after liquors. Ed Arking, CEO of New Jersey’s Roger Wilco, grew up in the world of wine and spirits and formed his own business aspirations.

“Growing up, I watched my father navigate and succeed in the ever-evolving wine and spirits industry,” Ed explains. “While I always aspired to create something similar, I knew I needed to wait for the right moment.” Ed has gone on to manage his own liquor store and lead projects for up-and-coming brands, such as the vodka-infused and non-carbonated Smooth Water.

As he evolved in his career, Ed discovered the perfect time to make his lifelong vision a reality. He recalls, “I noticed a gap in the market—especially for whiskey and tequila. These categories have surged in popularity, making it difficult for the everyday consumer to find those elusive sought-after allocated bottles.”

In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

When it comes to Served Neat, quality and knowledge is key. Ed adds, “While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Served Neat is the sister company to WTSO and The Wine Market, two online platforms dedicated to sourcing and distributing top-notch wines from every corner of the globe.

At The Wine Market, an online marketplace for the world’s most popular wine brands, convenience and quality are key. Each bottle in their curated collection is a testament to exceptional flavor and craftsmanship.

Since 2006, WTSO has enjoyed creating a unique wine experience and sharing it with new beginners and seasoned connoisseurs alike. Using an extensive network of wineries and wine makers, WTSO connects customers to thousands of brands from top wine appellations around the globe. The strong relationships they’ve formed within the wine world allow the business to deliver authentic and high-quality bottles to homes across the United States.

Wine and spirits lovers alike are invited to explore Served Neat, WTSO, and The Wine Market to find their next favorite bottle. Visit their websites to learn more about these one-of-a-kind online marketplaces!

Media Contact

Julie Blount, WTSO, 1 8669572795, marketing@wtso.com

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SOURCE WTSO

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