For the 7th year in a row, IDC has ranked Splunk as #1 in ITOA*. We're thrilled with this news, but let me start by saying that our success is due to the continued success of our customers, and we're very grateful for the opportunity to be a part of it.
Need a refresher on ITOA? We know we know, another day another acronym. ITOA is IT Operations Analytics. IDC derived this market from portions of their IT Operations management (ITOM) software market. ITOA focuses on a number of analytics, including faster root cause analysis and increased operational efficiencies, to name a couple.
The ITOA segment is growing every year as more and more organizations move to modernize their IT Operations. IDC estimates the worldwide ITOA software market totaled $3.7 billion USD in 2020, which is up 6.7% from 2019. So many 7's - it must be more than plain luck.
Back to talking about lucky 7's, which makes me think of Vegas, which makes me think… .conf21!
I digress. Back to the report.
The 2020 ITOA report notes that Splunk holds the majority of the market share at 27.6% on $1B of revenue. Following Splunk are VMware at 17.8% and ServiceNow at 7.2%.
The IDC market share report noted:
"The number of data sources, data volumes and use cases continued to expand, driving increased customer adoption. Capabilities for big data capture, indexing, management and search across a wide variety of machine-generated data are increasingly being augmented by dashboards that combine data query, analysis and graphical displays into panel-based packages."
Pointing out the increased depth and breadth of Splunk's ITOA capabilities, IDC noted that "Splunk supports prepackaged content and visualization for a variety of use cases including IT operations, APM and IT service intelligence, making Splunk-based analytics available to an increasing variety of IT and business users. IDC expects to see further expansion in supported data sources and use cases in the future."
The report also mentions the growth of cloud-based ITOA solutions and how vital it is for vendors to be able to integrate critical data sources into cloud-based solutions. Once again, we're happy to see our vision aligns with theirs.
I'm especially pleased to see IDC's recognition of the value we place on data and expanding our capabilities in that dimension. Splunk helps IT organizations make better, faster decisions with real-time visibility across the enterprise. Splunk's data-driven AIOps capabilities use the power of machine learning to give teams 360° insights into the health and performance of critical business services across their hybrid environment, reducing alerts and noise in the process. By delivering business-critical insights and predictive analytics, Splunk lets teams stay ahead of service degradations, resource constraints and outages.
Our growth and market leadership correlates directly to the value we bring to organizations in support of their IT operations modernization initiatives - so while we can joke about this being "lucky 7's," we're proud and excited to lead the pack of awesome vendors as we help our customers through their digital transformation and journey to and through the cloud.
Get Your Copy of IDC's Worldwide IT Operations Analytics Software Market Shares, 2020 Report
If you'd like to read the report, download a complimentary copy of IDC's Worldwide IT Operations Analytics Software Market Shares 2020 today. And if you're interested in learning how Splunk can help your organization with our leading ITOA solutions, please contact our team.
You can also learn more about Splunk's industry-leading IT solutions at .conf21. We're going virtual this year and would love for you to join us. Once you've registered, be sure to sign up for our IT Operations tracks.
*IDC Worldwide IT Operations Analytics Software Market Shares, 2020: Market Growth Accelerates, Doc #US48125121, Tim Grieser, August 2021