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AIOps Global Market Report 2022

AIOps Global Market Report 2022

  • September 2022
  • 175 pages
  • ID: 6319244
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the AIOps market are BMC Software Inc, IBM Corporation, Moogsoft Inc, Splunk Inc, Appdynamics LLC (Cisco Systems Inc), Dynatrace LLC, CA Technologies, VMware, Micro Focus, HCL Technologies, Dell Inc, Bigpanda Inc, Broadcom Inc, Elasticsearch BV, New Relic Inc, and Loom Systems Ltd (Service Now Inc).

The global AIOps market is expected to grow from $4.58 billion in 2021 to $5.81 billion in 2022 at a compound annual growth rate (CAGR) of 26.76%. The AIOps market is expected to grow to $15.10 billion in 2026 at a compound annual growth rate (CAGR) of 26.95%.

The AlOps market consists of sales of the AIOps platform and services by entities (organizations, sole traders, partnerships) that refer to the use of natural language processing and machine learning models to help simplify and automate operational processes.Large enterprises’ systems, services, and applications generate massive amounts of log and performance data.

This data is used by AIOps to monitor assets and get visibility into dependencies within and outside IT systems. AIOps is beneficial in time and cost savings, increases IT capabilities, and accelerates digital transformation.

The main components of AIOps include platforms and services.AIOps Platform refers to a platform that integrates big data and machine learning capability to support all core IT operations activities via scalable data intake and analysis of IT’s ever-increasing amount, diversity, and velocity of data.

Small, medium and large-scale enterprises use AIOps to increase their efficiency of the enterprises.It can be deployed on-premise or cloud.

They are widely used in banking, financial services & insurance (BFSI), information technology (IT) & telecom, healthcare, retail, government, manufacturing, media & entertainment, and other sectors for real-time analytics, infrastructure management, network & security management, and application performance management.

North America was the largest region in the AIOps market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the AIOps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The AIOps market research report is one of a series of new reports that provides AIOps market statistics, including AIOps industry global market size, regional shares, competitors with a AIOps market share, detailed AIOps market segments, market trends and opportunities, and any further data you may need to thrive in the AIOps industry. This AIOps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Increasing adoption of artificial intelligence is driving the AIOps market.Artificial intelligence (AI) is a replication of human intelligence that is programmed to think and act like humans.

AI improves organizations in various ways, from boosting customer experiences to automating repetitive labor.AI collects and combines the enormous and expanding amounts of data produced by IT infrastructure components and removes unwanted data or noise to identify occurrences and patterns associated with problems with application availability and performance.

It reduces this hectic work and works efficiently due to this organization adopting AI.According to a Forbes report, AI is already benefiting 86% of organizations, and 25% of organizations with significant AI deployment anticipate the technology to pay off in higher revenue by 2021.

Therefore, increasing adoption of AI in various sectors is expected to boost demand for AIOps during the forecast period.

Strategic Partnership is a key trend gaining popularity in the AIOps market.The companies operating in AIOps sector are focusing on a strategic partnership to expand their new product development activities and penetrate into new markets.

In July 2020, Avantra, a UK-based AIOps platform for SAP Operations, entered a partnership with Google Cloud.Through this partnership, the organizations will automate their IT processes, resulting in a better business experience and a faster migration of SAP workloads to the cloud.

Google Cloud is a platform that enables creating, launching, and scaling of apps, websites, and services on Google’s infrastructure.

In June 2021, IBM, a US-based technology company that manufactures and sells computer hardware, middleware, and software acquired Turbonomic for an undisclosed amount.The acquisition adds to IBM’s ongoing investment in ecosystem partners such as Cisco to assist clients in accelerating their path to hybrid cloud and AI.

The purchase follows IBM’s recent acquisition of Instana for application performance monitoring (APM) and observability and the release of IBM Cloud Pak for Watson AIOps, which uses AI to automate IT operations. Turbonomic is a US-based company that provides Application Resource Management (ARM) and Network Performance Management (NPM).

The countries covered in the AIOps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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