LONDON--(BUSINESS WIRE)--Technavio projects the global IT monitoring tools market is expected to post a CAGR of more than 34% during the period, 2018-2022. The need for improving the efficiency of IT operations is a significant driver that will impact growth during the forecast period.
IT monitoring tools allow businesses to track the performance of critical IT infrastructure including servers, websites, and applications in real-time. The tool monitor downtime, bandwidth use, performance metrics, hardware outages and other issues. The use of monitoring tools helps businesses to maintain their online presence and improve operational efficiency.
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In this report, Technavio highlights the increasing use of Big Data for IT monitoring and analytics as one of the key emerging trends to drive the global IT monitoring tools market:
Increasing use of Big Data for IT monitoring and analytics
At present, the primary users of IT monitoring tools are significant IT infrastructure and server operators. These end-users usually maintain large and complex networks of hardware and equipment. However, with the advent of Big Data, smaller businesses are also encouraged to install and maintain additional hardware for infrastructure and business monitoring.
According to a senior analyst at Technavio for IT professional services research, “Big Data analytics software breaks down a large set of data into smaller subsets for further analysis. The software then assigns key performance indicators to each data set and then compare the historical KPI data to the current data to identify deviations in performance and transaction failures. This helps IT managers in analyzing the problem areas and the source of issues within the network.”
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Market segmentation and analysis through 2022
This market research report segments the global IT monitoring tools market by product (ITOA, ITIM, and others) and key regions (the Americas, APAC, and EMEA).
The ITOA segment dominated the market in 2017 with a market share of more than 63%. This segment is expected to witness a significant increase of over 9% during the forecast period while the remaining segments are slated to see a decline in their market shares.
In 2017, the global IT monitoring tools market was dominated by the Americas with a revenue share of close to 50% followed by EMEA and APAC respectively. The market share of APAC will witness the maximum increase over the forecast period while EMEA will see a decline in its market share.
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