The global artificial intelligence for IT operations platform market size is expected to reach USD 33.82 billion by 2030, registering a CAGR of 17.7%, according to a new report by Grand View Research, Inc. Rapid digital transformations in global business organizations have brought about increasingly complex datasets. Businesses spend a significant amount of time, cost, and effort on processing large volumes of data. IT operations are also on the edge of this transformation, wherein IT teams are required to manage complex datasets to sustain their business. Besides, there has been a considerable increase in data loads over the last few years due to the distributed architecture and dynamic nature of business applications and services.
Artificial Intelligence For IT Operations Platform Market Report Highlights
- Organizations are deploying AIOps platforms specifically for real-time analytics and network & security management
- Most AIOps platforms focus on providing enriched company data over data about individuals, called intent data. Intent data is collected behavioral information about an individual’s online or digital activities
- The rising adoption of machine learning for infrastructure management in IT environments is one of the major factors driving the market growth
- Key players are leveraging AI and machine learning technologies to improve resilience and enhance productivity in IT operations
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With the increasing IT agility requirement, the artificial intelligence for IT operations (AIOps) platform has emerged as a way for IT operations teams to keep up with business demands, trends, and aggressive digitization of IT infrastructure. AIOps platform refers to the AI platform for IT operations that combines human intelligence with automated algorithms to provide full visibility into IT systems’ performance. For instance, in March 2022, HCL Technologies, a leading global technology company, announced a center of excellence in collaboration with IBM. This Center of Excellence will assist CSPs in modernizing their network infrastructure, simplifying operations, and transforming service delivery.
The COVID-19 outbreak has created significant challenges and uncertainties for several businesses. AIOps platform can align with the industries, operating in the digital environment amid such a challenging era of business infrastructural transformations. The increasing digital transformation during the pandemic has led to various challenges concerning user experience, security, and the downfall of the industries. Organizations are restructuring operational infrastructure as security-related vulnerabilities in the digital environment have increased, significantly.
Under such highly dynamic circumstances, the AIOps platform helps businesses to take vigilant security measures. For instance, security teams can benefit from AIOps for cybersecurity, where they can gain data security visibility and intelligence. These devices can perform various vital tasks, such as surveillance, threat response, and engagement.
The adoption of cloud computing has been increasing rapidly in recent years. Cloud-hosting services such as Microsoft Azure (Microsoft), AWS (Amazon Web Services, Inc.), and Google Cloud (Alphabet Inc.) appeal to many enterprises, owing to features such as the ability to scale up or down based on usage, pay-per-use, self-service, and high resiliency. These advantages, in turn, lead to lower IT expenditure, better service quality, and faster time-to-market than traditional IT offerings.
AIOps solutions enable new IT operations efficiencies by offering centralized visibility across all environments, which helps diagnose and resolve IT issues, faster. For instance, in February 2022, Deloitte, a consulting and advisory services company, has announced the launch of AIOPS.D. This “AI-fueled, plug-and-play modular” micro-services platform automates business functions such as procurement, supply chain, and finance.
Artificial Intelligence For IT Operations Platform Market By Region
North America dominated the market, accounting for over 36.0% share of the global revenue. In the U.S., AI-based investment advisory consumer applications are getting traction to improve investment decisions. This can be attributed to the presence of numerous AIOps platform vendors in the region. The high investments in R&D activities and continued digital transformation in developed economies are also significant factors driving the adoption of AIOps platforms in the region. Asia Pacific is anticipated to witness significant growth during r the forecast period. This can be attributed to the rapid adoption of automation across various industries in the region.
Industry Share Analysis By Major Companies
The AIOps market vendors are focused on developing cutting-edge platforms, expanding their customer base, and global reach to attain a competitive edge. Along with increasing their offerings based on AIOps products and solutions in various industries including financial services, retail, insurance, government, media & entertainment, and healthcare. Therefore, key players are taking several strategic initiatives, such as partnerships & collaborations, mergers & acquisitions with other key players, and new product or technology development. Some prominent players in the global artificial intelligence for IT operations platform market include:
- AppDynamics
- BMC Software, Inc.
- Broadcom
- HCL Technologies Limited
- International Business Machines Corporation
- Micro Focus
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Artificial Intelligence For IT Operations (AIOps) Platform Market Segmentation
Grand View Research has segmented the global artificial intelligence for IT operations platform market based on offering, application, deployment mode, organization size, vertical, and region:
- AIOps Platform Offering Outlook (Revenue, USD Million, 2017 – 2030)
- AIOps Platform Application Outlook (Revenue, USD Million, 2017 – 2030)
- AIOps Platform Deployment Mode Outlook (Revenue, USD Million, 2017 – 2030)
- AIOps Platform Organization Size Outlook (Revenue, USD Million, 2017 – 2030)
- AIOps Platform Vertical Outlook (Revenue, USD Million, 2017 – 2030)
- AIOps Platform Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players of Artificial Intelligence For IT Operations Platform Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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