Global Information Technology (IT) Operations Management Software Market Report 2024

The information technology (IT) operations management software market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to growing enterprise use of cloud computing technologies, explosive growth of the banking industry, e-commerce, and cloud-based services, increased use of cloud video streaming services, growing data center infrastructure.

The information technology (IT) operations management software market size is expected to see strong growth in the next few years. It will grow to $3.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The projected growth in the forecast period can be attributed to several factors, including investments in emerging technologies, the establishment of advanced data centers, the adoption of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) systems by IT companies, increased demand for cloud management services, the adoption of multi-cloud platforms, growing expenditure on IT infrastructure, and the rising need for process automation. Key trends expected in this period include rapid technological advancements, real-time monitoring of systems, swift and effective issue resolution, continuous operational enhancement, innovation stimulation, and the implementation of virtualization technologies.

The escalating concerns surrounding cybersecurity are poised to be a driving force behind the expansion of the IT operations management software market in the foreseeable future. Cybersecurity concerns encompass the array of risks and threats associated with safeguarding digital assets, information, systems, and networks from unauthorized access, data breaches, cyberattacks, and other malicious activities. This heightened apprehension regarding cybersecurity stems from various factors, including the surge in cyber threats, the shortage of skilled cybersecurity professionals, the transition to remote work models, and the adoption of emerging technologies. Within this landscape, IT operations management software emerges as a crucial tool for fortifying cybersecurity defenses, bolstering threat detection and response capabilities, and fortifying the resilience of IT infrastructure against cyber threats and attacks. For example, as per the Australian Cyber Security Centre's findings in November 2022, Australia witnessed a significant uptick in cybercrime reports during the 2021-22 financial year, underscoring the urgency of addressing cybersecurity challenges. With cybercrime reports being lodged at an average rate of one every 7 minutes, up from one every 8 minutes in the previous year, the imperative for robust cybersecurity solutions has become more pronounced. Consequently, the escalating cybersecurity concerns are fueling the growth of the IT operations management software market.

Leading companies in the IT operations management software market are directing their efforts towards developing cutting-edge solutions, such as IoT platform software, aimed at seamlessly integrating with Internet of Things (IoT) devices to deliver comprehensive monitoring, management, and security capabilities for interconnected networks and devices. IoT platform software is tailored software designed to facilitate the efficient management, monitoring, and control of IoT devices and applications within an organization's IT infrastructure. For instance, in April 2022, Manufacturing Automation & Software Systems Group Inc. (MASS Group) introduced ScannerIO, an innovative IoT platform software solution. ScannerIO seamlessly integrates with the company's manufacturing execution system (MES) offering, empowering it to automate the generation of digital work instructions for manufacturing processes. By enabling data collection from diverse devices such as Bluetooth, barcode scanners, RFID readers, and IoT devices, ScannerIO enhances operational efficiency and security in manufacturing environments.

In May 2023, Hewlett-Packard Enterprise Company made a strategic move by acquiring OpsRamp Inc. This acquisition underscores Hewlett-Packard Enterprise's commitment to simplifying IT operations in complex multi-cloud environments by providing end-to-end visibility and control. OpsRamp Inc., a renowned IT operations management software provider, brings valuable expertise and technology assets to Hewlett-Packard Enterprise, enabling the delivery of innovative solutions tailored to meet the evolving needs of organizations navigating multi-cloud ecosystems. Through this acquisition, Hewlett-Packard Enterprise aims to empower organizations to thrive and innovate in the dynamic landscape of multi-cloud computing.

Major companies operating in the information technology (IT) operations management software market are Microsoft Corporation, Amazon Web Services Inc., Siemens AG, Hewlett-Packard Company, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Efecte Oyj, Adobe Systems Inc., ServiceNow Inc., Autodesk Inc., OpenText Corporation, Citrix Systems Inc., SAP SE, Atlassian Corporation Plc, Splunk Inc., BMC Software Inc., IFS AB, Zendesk Inc., Zoho Corporation, LogMeIn Inc., Ivanti Inc., Elastic N.V., SolarWinds Worldwide LLC, SymphonyAI Corporation, Freshworks Inc., EasyVista Inc., Binmile LLC.

North America was the largest region in the IT operations management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) operations management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the information technology (IT) operations management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Information technology (IT) operations management software encompasses a suite of tools and solutions engineered to monitor, govern, and enhance the performance and accessibility of IT infrastructure, systems, and applications within an organization. This software aids IT teams in ensuring the seamless operation of critical business services by offering real-time visibility into diverse components of the IT environment, including servers, networks, databases, applications, and cloud services.

The primary types of IT operations management software include cloud-based and on-premise solutions. Cloud-based IT operations management software denotes solutions hosted on remote servers and accessed via the internet. These applications cater to a wide array of industries, including banking, financial services and insurance (BFSI), information technology and telecom, retail and consumer goods, manufacturing, energy and utilities, media and entertainment, government, healthcare, and others.

The information technology (IT) operations management software market research report is one of a series of new reports that provides information technology (IT) operations management software market statistics, including information technology (IT) operations management software industry global market size, regional shares, competitors with information technology (IT) operations management software market share, detailed information technology (IT) operations management software market segments, market trends, and opportunities, and any further data you may need to thrive in the information technology (IT) operations management software industry. This information technology (IT) operations management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The information technology (IT) operations management software market includes revenues earned by entities by software licensing, subscription services, professional services, and usage-based pricing models. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.