The global AIOps market is estimated to garner notable revenue by growing at a robust CAGR of ~30% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing penetration of artificial intelligence (AI) into various end-user industries, and increasing dependence on cloud and virtual infrastructure backed by the constant work-from-home situation globally. AIOps encompasses various services, such as, data output, aggregation, analytics, automation, ML, and visualization, along with providing flexible, and centralized multi-layered platform. The increasing acceptance of AIOps in the place of DevOps in the IT sector is estimated to be the primary growth driver for the market. Along with this, various advantages of artificial intelligence over human intelligence, such as, reducing false positives, and building alert correlation, is increasing the demand for AIOps platforms worldwide. Moreover, accuracy and speed provided by AIOps platforms for handling large volume of data, is another factor estimated to boost the growth of the market. It is anticipated that in the coming years more than 9 businesses out of 10 would be investing in artificial intelligence. The growing investments of organizations in the field of artificial intelligence, backed by the boost in productivity witnessed by businesses post implementation, is further anticipated to drive the growth of the AIOps market in the coming years. Furthermore, the impact of COVID-19 on work patterns, and increasing adoption of work from home is estimated to positively influence the market growth.
The global AIOps market is segmented by deployment type into on-premise, and cloud-based, out of which, the cloud-based segment is anticipated to hold the largest share in the market during the forecast period on account of increasing penetration of cloud computing among various end-user verticals, along with the increasing population of the tech-savvy generation in developing countries. More than 80% of all enterprises across the globe used multi-cloud strategy by 2019. In fact, with the increasing usage of smartphones, an average person used more than 30 cloud-based applications on a daily basis. CLICK TO DOWNLOAD SAMPLE REPORT
Based on application, the global AIOps market is segmented into real-time analytics, infrastructure management, application performance management, and others, out of which the real-time analytics segment is estimated to grow at the highest CAGR during the forecast period, as it provides real-time numbers and data, which is time conserving and convenient.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, internet of things (IoT), and artificial intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global AIOps market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of higher adoption of IoT, AI and cloud computing, among other advanced technologies. Moreover, growing IT sector, and increasing implementation of cloud-based technology in the region are estimated to boost the growth of the regional market. There were more than 3 million people employed in the IT sector in US, as of 2019, and this sector generated a revenue of over USD 1.5 trillion.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on the back of increasing technological development in the countries, including Japan, China, and India. Furthermore, increasing population working from home, due to severe affects of coronavirus pandemic, is another major factor estimated to boost the regional market growth over the years.
The global AIOps market is further classified on the basis of region as follows:
Our in-depth analysis of the global AIOps market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing adoption of cloud-based technology in majority businesses is one of the major factors driving the market growth.
The market is anticipated to attain ~30% CAGR over the forecast period, i.e., 2022-2030.
Lack of technically skilled workers is a major factor estimated to hamper the market growth.
The market in the North America will provide the highest growth opportunities for the market during the forecast period on the back of growing IT sector and presence of major market players in the region.
The major players dominating the market include IBM, Micro Focus International plc, BMC Software, Inc., Dell Inc., Splunk Inc., HCL Technologies Limited, AppDynamics and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, deployment type, application, vertical, and by region.
The real-time analytics segment is anticipated to hold a significant market size during the forecast period owing to the increasing demand for real-time and quick solutions amongst the IT industries.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization