Splunk Leads ITOM Performance Analysis and SIEM Market Share Rankings for the Second and Third Consecutive Year in 2020 Reports
Splunk Inc., provider of the Data-to-Everything Platform, announced on Thursday, July 1st that it is ranked first in the Gartner Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2020 report* and second in the Gartner Market Share: All Software Marketing Worldwide, 2020 report** for IT Operations Management (ITOM). Splunk has maintained its leadership position in both the IT and security markets, according to the two reports.
“As the types, sources and volume of data our customers need to analyze continually grows, having a trusted data-centric platform is imperative for our application development, cybersecurity, IT and business users’ success,” said SendurSellakumar, Chief Product Officer, Splunk. “We believe that Splunk’s ranking across both IT and security segments in the Gartner market share reports are a testament to our commitment toward helping customers unlock the power of their data, accelerating their digital transformation journeys and driving impact with the full Splunk portfolio.”
Gartner Market Share reports compare vendors based on revenue and revenue growth relative to the market. Splunk is in the midst of a business model shift in support of its cloud transition, which has had a negative impact on reported revenues. Splunk reported $2.23 billion in revenue for Fiscal Year 2021. For the same period, the company reported a 41 percent increase in annual recurring revenue to $2.36 billion.
“We have been making material strides in updating our pricing and packaging approaches aligned to customer value, as well as releasing new solutions including the industry’s first full-stack, enterprise-grade Observability Cloud for IT and DevOps teams, along with the new modern security operations platform, Splunk Security Cloud, for security teams,” continued Sellakumar.
According to the Gartner Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2020 report, Splunk is ranked first in the ITOM Performance Analysis software market with 7.8 percent market share, as well as the AIOps, ITIM, and Other Monitoring Tools subsegment with 12.7 percent market share. Splunk has ranked first in both segments for the second year in a row. According to Gartner, the overall ITOM performance analysis software market will grow 7.2 percent year on year to $13.3 billion in 2020, with the AIOps, ITIM, and Other Monitoring Tools subsegment accounting for $6.1 billion.