According to the AIOps platform market analysis carried out by Future Market Insights (FMI), the demand registered in the AIOps platform market will grow at a noteworthy CAGR of around 25.4% from 2022-2032.
The report states that the market is expected to reach the valuation of ~US$ 8.3 Bn by the end of 2022. As per Future Market Insights, the pandemic is anticipated to encourage the market growth of emerging tech fields, such as artificial intelligence, as a result of the required work-from-home policy. The AIOps platform automates routine IT operations using intelligent, self-learning algorithms supported by ML. Through the use of behavioral and historical data analysis, it also recognizes and foresees any potential incidents.
Furthermore, it offers a cognitive examination of the data using big data analytics and extracts relevant information from the data for further processing. Real-time data integration, multi-dimensional data normalization, extremity-based issue prioritization, and documented response strategies to avoid recurrences are all made possible by combining IT operations with AI. This capacity for creating actionable insights from raw data contributes to the development of a flexible ITOps architecture.
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A group of algorithms created specially to operate in the AIOps field. They are employed to automatically find, identify, and fix problems in the cloud infrastructure. As new technologies develop and in accordance with the operational objectives and data of business that AI is intended to optimize. For effective performance monitoring of IT operations, organizations are predicted to keep implementing AIOps platform solutions. This has propelled the growth of the AIOps platform market.
Key Takeaways: AIOps Platform Market
- By solution, the AIOps platform segment accounts for the highest market share of around 2% for AIOps platform market in the year 2021. However, the services segment is estimated to grow at a robust CAGR of 26.2% through 2032.
- By application, the real-time analytics segment had the highest market share of around 9% in the AIOps platform market in 2021.
- By vertical, the IT & telecom is predicted to grow at a CAGR of around 5% between 2022 & 2032.
- By region, North America had the largest market share of around 6% in AIOps platform market in 2021, whereas the South Asia & Pacific region is showing the highest growth of around 29.6% CAGR during the forecast period.
“Big data, machine learning, and other cutting-edge analytics technologies are used by AIOps platform to improve IT operations (monitoring, automation, and service desk) tasks in both direct and indirect ways with proactive, customized insight. AIOps platform make it possible to use numerous data sources, data gathering techniques, analytical (deep and real-time) technologies, and presentation technologies all at once.” says FMI analyst.
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Rapid adoption of the cloud-based infrastructure, demand for AI based application is surging and increasing need for risk mitigation and rise in data volumes in IT organizations.
DevOps systems have evolved to be smarter for seamless and efficient business operations as IT technologies and devices have, leading to an increase in the usage of AlOps. The operational risks associated with cloud migration and a hybrid cloud strategy can be significantly decreased using AIOps. It serves as a monitoring tool for virtualization, storage, and cloud infrastructure, reporting on parameters including consumption, availability, and response times.
By integrating them into AIOPs platforms, businesses are replacing several traditional monitoring tool categories. For instance, AIOps platforms are used only for virtual network monitoring, observability, and infrastructure as a service (IaaS) monitoring, particularly if the organization has its whole IT infrastructure in the cloud.
Furthermore, as more organizations switch to digital platforms for their operational requirements, automation using AI becomes more realistic and affordable for their organization, opening up new opportunities for their business. As a result, rise in data volumes and its resulting increase in cloud adoption will probably lead to an increase in the demand for AlOps platforms.
More Valuable Insights on AIOps Platform Market
Future Market Insight’s report on AIOps platform market industry research is segmented into four major sections – solution (AIOps platform, and services (implementation services, license & maintenance services, training & education services, others)), application (real-time analytics, application performance management, infrastructure management, others), vertical (BFSI, healthcare & life sciences, retail & consumer goods, IT & telecom and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and The Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the AIOps platform demand outlook.
AIOps platform providers are developing tactics like acquisition, product innovation to increase their service offerings to better satisfy customer needs. Many organizations are also collaborating with technology professionals to create their own cutting-edge solutions in order to meet end user expectations.
- In April 2022, Dynatrace announced that it has expanded its cutting-edge AIOps capabilities for top database settings. These developments improve the platform’s capacity to provide the most accurate answers from the widest range of data sources, in real time, at scale, and in context. They also make it possible to proactively address problems like inefficient database queries before they have an adverse effect on the availability, performance, and user experience of the service.
- In October 2021, BMC announced the acquisition of StreamWeaver. StreamWeaver expands BMC’s AIOps capabilities with a wide range of pre-made data interfaces built on a complementary, contemporary microservices-based architecture, enabling clients to increase automated remediation and incident and risk forecasting.
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AIOps Platform Outlook by Category
By Solution, AIOps Platform Market is segmented as:
- AIOps Platform
- Implementation Services
- License & Maintenance Services
- Training & Education Services
By Application, AIOps Platform Market is segmented as:
- Real-Time Analytics
- Application Performance Management
- Infrastructure Management
By Vertical, AIOps Platform Market is segmented as:
- Healthcare & Life Sciences
- Retail & Consumer Goods
- IT & Telecom
By Region, AIOps Platform Market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)