According to a recent report published by Allied Market Research, titled, “AIOps Market by Component, Deployment mode, Application and Industry Verticals: Global Opportunity Analysis and Industry Forecast, 2020-2030,” 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.
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, as more businesses are migrating to the cloud, and this is most likely to cause the need for AIOps market trends to surge even more in their market demands in the coming few years.
Moreover, growth of the AIOps industry 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.
In 2020, the global AIOps market share was dominated by the platform segment, and is expected to maintain its dominance in the upcoming years. Conversational AI platforms come in all shapes and sizes. Some are nothing more than point solutions to address specific needs, others such as Teneo provide everything an enterprise needs to develop a global conversational AI interface. By application, the real-time analytics is estimated to emerge as fastest growing application, as 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.
The AIOps industry is expected to grow post COVID-19 pandemic, owing to the fact that the 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.
Key Findings Of The Study
- By component, in 2019 the platform segment dominated the AIOps market size. However, the services segment is expected to exhibit significant growth during the forecast period.
- By application, the infrastructure management segment generated the highest revenue in 2020. However, the real-time analytics segment is expected to witness highest growth rate in the AIOps market.
- By deployment type, the on-premise segment accounted for the highest revenue in 2020; however, the cloud is expected to witness highest growth rate during the forecast period.
- By industry vertical, the BFSI segment accounted for the highest revenue in 2020; however, the healthcare and life science segment is expected to witness highest growth rate during the AIOps market forecast period.
- By Region, the AIOps market analysis was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
Some of the key companies mentioned within the report are BM, Splunk, CA Technologies, VMware, Micro Focus, HCL Technologies, Appdynamics, BMC Software, Moogsoft, and Fixstream.