AIOps Market Projected To Reach USD 31,799.17 Million by 2026
Posted on Sep 15 2021 12:12 PM
"The global AIOps market was valued at about USD 11,041.04 Million in 2020 and is anticipated to produce revenue of roughly USD 31,799.17 Million by the end of 2026, expanding at a CAGR of nearly 19.3% between 2021 and 2026."
According to Facts & Factors, the global AIOps market was valued at about USD 11,041.04 Million in 2020 and is anticipated to produce revenue of roughly USD 31,799.17 Million by the end of 2026, expanding at a CAGR of nearly 19.3% between 2021 and 2026.
Artificial Intelligence for IT Operations (AIOps) is a term that refers to systems that employ artificial intelligence and machine learning to automate jobs and processes without the need for human participation. AIOps uses a range of algorithms to acquire, review, and analyze massive amounts of IT data in real time. AIOps is concerned with real-time data and assists a corporation in recognizing and automatically resolving problems through the use of various algorithms. It allows companies and IT departments to get a better understanding of their operations.
Information technology (IT) is being challenged with rising challenges as more programs, systems, and platforms must be kept functioning at peak performance. As an organization's complexity rises, the amount of data generated by both business and IT activities climbs tremendously. AIOps analyses data from IT operations using artificial intelligence algorithms. In order to improve responsiveness, the platform detects the root cause of occurrences in real time and automates activities.
Increased Migration of Core Business to the Cloud
Growing demand for AI-based services in IT operations, increased migration of core business to the cloud, and increased end-to-end business application assurance and uptime are all important market growth factors. Additionally, investments in AIOps technology aid industry expansion.
The AIOps Market can be divided into platforms and services based on the component of AIOps. Platforms are expected to account for the largest portion of the market. Data output, aggregation, analytics, algorithms, automation & orchestration, machine learning, and visualization are all included in the AIOps platform. These platforms support a variety of data sources, data collection methods, and analytical and display technologies. The platform's sophisticated analytical capabilities serve a variety of IT operations disciplines both directly and indirectly. infrastructure management, real-time analytics, application performance management, network and security management, and others are the different segments of AIOps applications. Because AIOps systems analyze massive volumes of data from different sources in real time using various types of algorithms to provide real-time pattern recognition, the real-time analytics of the application segment is expected to have the largest market size. Real-time issue analysis and diagnosis, as well as actionable insights, are possible with this platform. Using a data-driven strategy, organizations can employ real-time analytics to detect, prioritize, diagnose, and resolve incidents. It helps to shorten the time it takes to detect and fix problems. Organizations can reduce the meantime to fix production accidents by avoiding recurrent events, notifications, and responding quickly to production incidents. The AIOps Market can be segmented into two categories based on AIOps deployment: on-premises and cloud. On-premise accounted for more than half of the market in 2020, and it is predicted to grow at a healthy CAGR during the forecast period. The cloud offers a wide range of services that on-premises services cannot, such as automating all aspects of infrastructure setup and administration. In 2019, the cloud was the second-largest market, and it is predicted to grow at a faster rate than on-premises over the projection year. Healthcare and Life Sciences, BFSI, Telecom and IT, Retail and Consumer Goods, Government, Manufacturing, Media and Entertainment, and Others are the verticals in which the AIOps Market may be segmented.
North America Is expected to have the largest AIOps market
North America is expected to have the largest market size in the Global AIOps Market due to its dominance among developed economies. This permits them to put a lot of money into research and development. As a result of the continuing expansion of digital transformation across businesses and the growing convergence of many technologies, such as AI, ML, big data, and analytics, the region has seen an increase in IT spending. In addition, regional IT behemoths such as IBM, BMC Software, CA Technologies, VMware, and Splunk are focusing on providing AI-powered services to support their customers in developing intelligent applications in order to meet the need for AI-powered solutions.
Asia Pacific (APAC) is expected to grow at the fastest CAGR throughout the forecast period as a consequence of dynamic changes in the application of automation in various business processes across sectors. The need for AI-powered products and services is expanding across APAC, thanks to the rapid generation of vast amounts of data. Machine learning (ML), for example, is an AI-powered solution that promotes data analytics innovation and fills gaps left by previous tools. This provides APAC companies more confidence in implementing big data solutions. Governments in APAC are investing substantially in AI, but long-term solutions will take longer to implement due to structural constraints like a dearth of machine learning data and a paucity of AI professionals.
Top Market Player
Some of the major market players in the AIOps Market are Splunk, BMC Software, HCL, MoogSoft, AppDynamics, Correlsense, Micro Focus, VMware, IBM, CA Technologies, and FixStream among others.
This report segment of the AIOps market as follows:
AIOps Market: By Component Segmentation Analysis:
AIOps Market: By Application Segmentation Analysis:
- Infrastructure management
- Real-time analytics
- Application performance management
- Network and security management
- Others (Root cause and App experience analytics, Cloud monitoring, Log and Event management, and Anomaly Detection)
AIOps Market: By Deployment Segmentation Analysis:
AIOps Market: By Vertical Segmentation Analysis:
- Healthcare and Life Sciences
- Telecom and IT
- Retail and Consumer Goods
- Media and Entertainment
- Others (Energy and Utilities, Education, Transport and Logistics, and Automotive)
AIOps Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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