Your Shopping Cart Is Empty
| Report Code: A12506 | Pages: 361 | ||
| Tables: 183 | Charts: 83 |
| |
The global AIOps market size was valued at $26.33 billion in 2020, and is projected to reach $644.96 billion by 2030, registering a CAGR of 37.90% from 2021 to 2030. AIOps is the application of artificial intelligence to IT operations. It has become essential for monitoring and managing modern IT environments that are hybrid, dynamic, distributed and componentized. In a real world setting, the AIOps platform ingests heterogeneous data from many different sources about all components of the IT environment networks, applications, infrastructure, cloud instances, storage and more.
AIOps Market is expected to grow post the COVID-19 pandemic, due to rapid spread of coronavirus across the world and work-from-home policies introduced to counter the spread of the virus by minimizing contacts. Many businesses invested in AIOps solutions to ease the growing complexity in the IT needs of many business enterprises
In 2020, the global AIOps industry share was dominated by the platform segment, and is expected to maintain its dominance in the upcoming years. Conversational AIOps platforms come in all shapes and sizes. Some are point solutions to address specific needs, others such as Teneo provide enterprise needs to develop a global conversational AI interface. By application, the real-time analytics is estimated to emerge as fastest growing application. It applies logic and mathematics to data to provide insights for making better decisions quickly. For some use cases, real time simply means the analytics is completed within a few seconds or minutes after the arrival of new data. On-demand real-time analytics waits for users or systems to request a query and then delivers the analytic results. Continuous real-time analytics is more proactive and alerts users or triggers responses as events occur.
Asia-Pacific is predicted to grow at the highest CAGR during the AIOps market forecast period, as it is witnessing dynamic changes within the adoption of automation in various business functions across verticals. The demand for AI-powered solutions and services is growing across Asia-Pacific due to rapid generation of huge volumes of knowledge. AI-powered solutions and services, such as ML, drive innovations within the realm of knowledge analytics and address gaps associated with the previously used tools. This boosts the growth of the enterprises within Asia-Pacific to adopt big data technologies. APAC governments are actively investing in AI, but long-term solutions would take time to return into effect, due to structural reasons like insufficient data for ML and a shortage of AI professionals. As a result, progress within the implementation is going to be largely driven by the private sector innovation and at an equivalent time their ability to figure with local governments to tackle the infrastructure challenges and therefore the availability of the required skillset among the local manpower.
The report focuses on the growth prospects, restraints, and AIOps market analysis. The study provides Porter’s five forces analysis of the network security industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the AIOps market trends.
The AIOps industry is mainly segmented on the basis of component, deployment mode, and application & industry verticals. Based on component, the market is segmented into platform and service, while on the basis deployment mode, the market is segmented into on premise and cloud. On the basis of application, it is segmented into real-time analytics, infrastructure management, network and security management, application performance management, and others. By industry verticals, the market is segmented into BFSI, healthcare and life sciences, retail and consumer goods, telecom and it, manufacturing, government, media and entertainment, and others. By region, the AIOps market is studied across North America, Europe, Asia-Pacific, and LAMEA.
AIOps Market is expected to grow post the COVID-19 pandemic, due to rapid spread of coronavirus across the world and work-from-home policies introduced to counter the spread of the virus by minimizing contacts. Many businesses invested in AIOps solutions to ease the growing complexity in the IT needs of many business enterprises.
Furthermore, the limited availability of staff during the pandemic made it difficult for a traditional operational mode to function properly. Moreover, remote working exerted a lot more pressure on manual operational modes.
Factors such as amount of data and alerts to be assessed and faster and more accurate root cause analysis drive the market growth. However, need for highly skilled professionals to implement and update and heavy functional demand restrain the market growth. Further, growth in awareness regarding the capabilities of AIOps in the enterprise and corporate world, increase in cloud adoption, and rise in data volumes are estimated to create lucrative opportunity for the AIOps market growth.
With AIOps, enterprises can avail the benefit of faster root and more accurate root cause analysis for many internal and supply chain complications, which is difficult with manual processes traditionally used in enterprise and business environments. According to the poll conducted by Broadcom, around 97% of IT professionals believe that AIOps will provide actionable insights to assist in automating and improving overall IT operations activities. Such factors influence the overall growth of the global AIOps market opportunity in the coming years.
As IT tools and devices become more and more sophisticated, DevOps systems have been evolving to be smarter for seamless and efficient business operations, resulting in an increase in the adoption of AIOps. Automation of these procedures is also being fueled by the growing usage of cloud computing throughout the world. As a result, more businesses are migrating to the cloud, and this is most likely to cause the need for AIOps platforms to surge even more in their AIOps market demands in the coming few years.
Moreover, growth of the AIOps market is also supported by digitization trends in small scale business enterprises, as more and more small and medium scale enterprises shift toward digital platforms for their operational needs, automation through AI becomes more viable and cost-effective for their business, paving new opportunities for their business.
Key Benefits For Stakeholders
Key Market Segments
By Component
By Deployment Mode
By Application
By Industry Vertical
BY REGION
KEY MARKET PLAYERS
AIOps Market Report Highlights
| Aspects | Details |
|---|---|
| By Component |
|
| By Deployment Mode |
|
| By Application |
|
| By Industry Vertical |
|
| By Region |
|
| Key Market Players | MICRO FOCUS, BMC SOFTWARE, INC., APPDYNAMICS, HCL TECHNOLOGIES LIMITED, FIXSTREAM, VMWARE, INC., CA TECHNOLOGIES, SPLUNK INC., MOOGSOFT, INTERNATIONAL BUSINESS MACHINES CORPORATION |
Loading Table Of Content...
The AI Ops market is experiencing a rapid growth, as the number of users and their digital activities increase so does the number of alerts (security threats and system anomalies) to process all this information through traditional manual operation functions. Machine learning and Artificial Intelligence based IT operations solutions with automation functionality can help resolve many of such issues much faster and can help with better monitoring of the enterprise operations networks.
According to a survey conducted by Broadcom, more than 47% of the participating organizations reported over 50,00 alerts per month, with a traditional IT team these could occupy a large chunk of valuable human resources of an enterprise and come out to be way more costly. With AIOps such scenarios can be handled with minimal human intervention, freeing up the time and resources of a business.
Automation of business operations is providing top-level executives and business corporations newer ways to minimize their losses while enhancing efficiency and optimizing their workflow patterns in regular day-to-day business operations. With the help of Artificial Intelligence empowering the usual IT operations of a business organization, the whole process can be automated, making organizations to reassign their human capital to focus on stuff that is more dependent on manual operations and functioning. Furthermore, large-scale automation can reduce the risks of errors that manual human operations might introduce. These factors are becoming more and more solid as the capabilities of AIOps are expanding, leaving suggestions of a high market growth in the coming years.
The AI Ops market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 45-50% of the share. The degree of concentration is expected to remain same during the forecast period. Furthermore, the growing use of cloud computing, big data, and the Internet of Things, among other technologies, has altered the corporate landscape by fostering maximum agility to attain competitiveness.
Start reading instantly.
This Report and over 71,233+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time for readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers
Contact Details
Need to talk to an expert? Book your free consultation and let our research experts help you with your needs/problems.
Global Report 
Regional Report
Country Report
Related Report