Global AIOps market is growing at a significant CAGR during the forecast period. AIOps is used to automate and enhance IT operations by using Artificial Intelligence (AI). AIOps uses analytics and machine learning to analyze a large amount of data that are collected from various sources in the IT infrastructure. AIOps, directly and indirectly, enhance IT operations including automation, monitoring, and service desk. AIOps consists of two primary components big data and machine learning. AIOps enables the simultaneous use of data collection methods, multiple data sources, presentation technologies, and analytical technologies.
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Factors Driving global AIOps Market
As IT operation personnel (IT Ops) is experiencing a revolution. A change to traditional IT management techniques is necessary for digital business forces. Additionally, there has been a significant change in current IT Ops procedures and IT ecosystem management have been restructured. Moreover, current IT infrastructure is getting more complex with the increasing use of modern IT environment such as unmanaged cloud, third party services, SaaS integrations, and so on. In this dynamic IT environment, managing complexity with the traditional approach is difficult and tracking and managing these complexities with human sight is not possible anymore. As current IT Ops is getting weak in management the need for AIOps is increasing, hence driving the AIOps market.
Another major factor is the amount of data needed by IT Ops is increasing. With the introduction of application program interfaces (API), IoT devices, digital and machine users, mobile applications service function ticket volumes are experiencing step function increases. Additionally, a large number of events and alerts are being generated, due to which manual reporting and analysis are becoming much complex than before. Additionally, computing power is boosting which results in easy availability of third party services and cloud infrastructure. Due to this, line of business functions can build their own IT applications and solutions using these services.
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The delivery infrastructure being complex makes it very hard to understand the impact of issues in IT infrastructure. Some of the AIOps products are able to overcome this issue by fusing the business services delivered to the exact network set and infrastructure elements that present the service. Due to this, AIOps products are capable to provide a true picture of the topology of services.
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Segmentation Analysis of the Industry
The global AIOps market is segmented on the basis of the deployment method, and end-user. On the basis of the deployment method, the market is segmented into on-premises and cloud-based services. The cloud-based services segment is expected to grow at a considerable rate during the forecast period owing to the ease of operation and low capital cost as compared to on-premises services. Further, AIOps platform is adopted in various end-user industries such as BFSI, IR & telecom, healthcare, media & entertainment, and others.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world. On the basis of geography, the market is analyzed into North America, Europe, Asia-Pacific, and rest of the world. North America is expected to hold a significant share in the global AIOps market. The major factor contributing to the significant market share include the presence of major market players in the region. Moreover, developed an understanding of technology in the region is supporting the adoption of technology-assisted operations.
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Industry Key Players
Moreover, the market growth is influenced by the presence of market players. Some of the players operating in the market include Broadcom Inc (CA Inc), Splunk, Inc., Micro Focus International PLC GAVS Technology, Inc., IBM Corp., Loom Systems Ltd., CloudfabriX Software, Inc., FixStream Networks, Inc., and AppDynamics LLC.
Global AIOps market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.
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