Splunk has introduced their new Cloud-based platforms to enhance organizations' capability to fast-track their cloud transformation and maximize the value from their data. Together with its market leadership as the leading ITOM player, this indicates its strong market positioning. ![]() One of the main advantages of using Splunk is that it does not need any database to store its data, as it extensively makes use of its indexes to store the data.įurthermore, according to the IDC, the company's average 2-year revenue growth in 2019 was the highest among the top 8 ITOM providers with an average growth rate of 36.1%. Businesses use its capabilities to obtain visibility to their digital processes to deliver better experiences, improve decisions and drive better results in areas including supply chain, inbound and outbound logistics, manufacturing, sales, and service. The real-time insights that Splunk delivers have a wide variety of use cases, including security, application monitoring, web management, and general analytics. Splunk specializes in providing software offerings that deliver insights from data from enterprises' digital systems. It divides it into three categories namely delivery automation, experience management and performance analysis. ![]() Gartner describes IT operations management (ITOM) software as tools needed to manage the provisioning, capacity, performance and availability of computing, networking and application resources as well as the overall quality, efficiency and experience of their delivery. Source: Twilio, Khaveen Investments ITOM Market Leadership with Transition to Cloud-based Offerings However, its profitability has remained a concern as it is still unprofitable since its inception. In SIEM, the company is also a market leader as the most common SIEM vendor for enterprises and is committed to maintaining its edge by enhancing its platforms with the acquisition of TruSTAR and partnerships with Deloitte. It is focused on maintaining its leading position and is transitioning to cloud-based offerings with the introduction of its new cloud-based solutions and notable acquisitions including SignalFX to extend support for its cloud-native applications. Splunk has managed to maintain its market leadership with a 12% market share in the ITOM market. In this analysis, we analyzed the company's market positioning in the ITOM software market as well as its SIEM market leadership. ![]() ( NASDAQ: SPLK) specializes in software solutions for searching, monitoring, and analyzing machine-generated data. David Tran/iStock Editorial via Getty Imagesīased in California, Splunk Inc.
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