The global AIOps platform market size is foreseen to progress from $ 5.73 billion in 2020 to $ 19.02 billion by 2025, at a compound annual growth rate (CAGR) of 34.0% over the outlook period.
AIOps enables organizations to operate their ITOMs with the level of speed and agility necessary to meet the expectations and demands of the end user. The shift to cloud computing and digital transformation will create more complexity at ITOM. Implementing these technologies and processes will increase repetitive manual activities, creating a difficult environment for IT operations to keep up with the ever-increasing pace and volume of requests.
With increasing awareness of how AI can address these challenges and help manage IT operations, companies are focusing on adopting AI-powered solutions. For example, a recent New Relic study found that 89% of the world's 750 top IT decision makers surveyed believe that artificial intelligence and machine learning are essential to the way organizations run IT operations. Almost 84% mentioned artificial intelligence and machine learning will make its function more manageable. This positive outlook for AI is expected to translate into widespread use of AIOps in the coming years.
Also, as devices get smarter, systems have become more complicated with increasing data volumes, increasing the adoption of AIOps. The growing adoption of the cloud around the world is also driving the automation of these processes. Therefore, as more and more companies migrate to the cloud, the need for AIOps platforms is also expected to increase.
Recent Developments:
The COVID-19 pandemic epidemic has increased the need for faster incident diagnosis, rapid response and restoration of services between businesses. Since AIOps offer this, companies operating in the market focus on increasing awareness of the technology for which they offer free solutions for a few months. Through their offering, they enable internal corporate IT teams and staff from external partners to securely access, troubleshoot, and restore business services through remote consoles. For example, California-based Aisera provides 24/7 AI-based support to healthcare providers and government agencies, offering its remote work virtual assistant and collaboration app free for 60 days from date.
Market growth and trends:
BFSI is expected to maintain a significant growth in the AIOps Platform Market
Market Drivers and Restraints:
The main factor driving the growth of the AIOps Platform market includes the high demand for AI-based software services in IT operations, increasing the warranty and availability of end-to-end business applications, and the transfer increased core business of the organization to the cloud. In addition, large investments in AIOps technology positively influence the growth of the market.
This platform offers the use of multiple data sources, analysis and presentation technologies, and data collection methods. The platform provides multiple disciplines of IT operations as well as advanced analytical skills directly and indirectly. It is also a centralized system that assists in delivering data insights that are provided by algorithmic machine learning skills to analyze large volumes of data. To use the technologies, AIOps platforms offer several layers that deal with different functionality, including data collection and storage, visualization, analysis tools, and integrations with other applications. The above factors are driving its adoption and are likely to drive the growth of the global AIOps Platforms market.
However, the shortage of professionals along with recent changes in IT operations are likely to acts as major constraints for the development of the global AIOps platform business. Nonetheless, recent developments and new product launches along with increasing acquisitions to carry advanced technologies by major market players are expected to drive the market growth.
Market Segmentation:
AIOps Platform Market by Component
AIOps platform market by Services
Market by Application
AIOps platform market by Vertical
Regional Analysis:
Depending on the region, the global AIOps platform market could be segmented into North America, South America, Europe, Asia-Pacific, Middle East and Africa. Among these, North America is expected to dominate the global AIOps Platforms market due to the presence of several key players operating in the market. In addition, the growing government initiatives for the development of PIAs platforms in the region are boosting the Global AIOps platform market.
Key market players:
The Global AIOps Platforms market includes several vendors like IBM (US), CA Technologies (US), Micro Focus (UK), VMware (US), Splunk (US), HCL (India), AppDynamics (United States), MoogSoft (United States), BMC Software (United States), FixStream (United States) and Correlsense (Israel)
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 AIOps Platform Market, By Component
6.1.1 Platform
6.1.2 Services
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 AIOps Platform Market, By Application
6.2.1 Real-time Analysis
6.2.2 Infrastructure Management
6.2.3 Network and Security Management
6.2.4 Application Performance Management
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 AIOps Platform Market, By Service
6.3.1 Implementation Service
6.3.2 License and Maintenance Service
6.3.3 Training and Education Service
6.3.4 Consulting Service
6.3.5 Managed Service
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
6.4 AIOps Platform Market, By Vertical
6.4.1 BFSI
6.4.2 Health and Life Sciences
6.4.3 Consumer Goods and Retail
6.4.4 Telecommunications and IT
6.4.5 Manufacturing
6.4.6 Government
6.4.7 Media and Entertainment
6.4.8 Market Size Estimations & Forecasts (2019-2024)
6.4.9 Y-o-Y Growth Rate Analysis
6.4.10 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Component
7.2.3 By Application
7.2.4 By Service
7.2.5 By Vertical
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Component
7.3.3 By Application
7.3.4 By Service
7.3.5 By Vertical
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Application
7.4.4 By Service
7.4.5 By Vertical
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Component
7.5.3 By Application
7.5.4 By Service
7.5.5 By Vertical
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Component
7.6.3 By Application
7.6.4 By Service
7.6.5 By Vertical
8. Key Player Analysis
8.1 IBM
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 CA Technologies
8.3 Micro Focus
8.4 Vmware
8.5 Splunk
8.6 AppDynamics
8.7 HCL
8.8 MoogSoft
8.9 BMC Software
8.10 FixStream
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
