Artificial Intelligence
The Worldwide AIOps Platform Industry is Expected to Reach $19.9 Billion by 2028
Dublin, June 08, 2022 (GLOBE NEWSWIRE) — The “Global AIOps Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Component, Deployment, Organization Size, and Vertical” report has been added to ResearchAndMarkets.com’s offering.
The AIOps platform market size is expected to grow from US$ 2,831.2 million in 2021 to US$ 19,933.5 million by 2028. It is estimated to grow at a CAGR of 32.2% from 2021 to 2028.
The Artificial Intelligence for IT Operations (AIOps) platform mixes human intelligence with automated algorithms to give users complete visibility into IT system performance. The achievement of necessary speed and agility required for companies is a crucial driver pushing the adoption of AIOps in the IT environment. Furthermore, modern machine learning algorithms gather essential data collected in the background and provide actionable insights.
The AIOps platform employs intelligence and self-learning algorithms supported by machine learning to automate routine IT processes. It also analyses historical and behavioral data to detect and predict potential incidents. Factors such as the IT Data Exceeding Human Scale and AIOps assists enterprises in integrating diverse technologies and reducing the overhead time by automating various procedures thus, need for resource optimization are influencing the market growth. However, concerns regarding the adoption of modern solution over traditional methodology are restraining AIOps Platform market growth. Moreover, integration of AIOps Platform with Observability Platforms are among other factors contributing toward the AIOps platform market growth.
Processes that formerly required human involvement have been automated by installing AIOps platform, allowing employees to focus on their core tasks. This results in the most efficient use of resources; resource optimization becomes more important when demand exceeds available resources. AIOps assists enterprises in integrating diverse technologies and reducing the overhead time by automating various procedures. Corporate process automation removes manual quality assurance, execution procedures, and maximizes the use of resources.
According to a survey by Smartsheet, 69% of employees believe that automation decreases spare time, and out of which 59% believe if repetitive jobs were automated, they would have more than 6 spare hours each week. Organizations that operate in the global information technology market have offices in various parts of the globe. As a result, onboarding employees, tracking employee performance, maintaining employee time and attendance gets complicated. AIOps platform and communication tools make it easier for distant teams and personnel to manage projects from a long distance. AIOps platform also aids in the automation and streamlining of HR activities.
According to Wynhurst Group, a structured onboarding program helps firms retain 58% of their employees for at least 3 years. A good AIOps platform saves money and paves the way to improve business operations. As a result, automated business processes speed up and simplify activities, allowing employees to be more productive, motivated, and engaged at work. Hence, the factors mentioned above boost the growth of the AIOps platform market.
Impact of COVID-19 Pandemic on Europe AI Ops Platform Market
Russia, the UK, France, Italy, Spain, and Germany were most affected by the COVID-19 outbreak. Due to severe economic challenges, businesses in the region have had to cease or significantly restrict their operations. The region witnessed an economic recession in 2020 and 2021 due to business closures, travel prohibitions, and supply chain disruptions. However, Morning Consult surveyed 500 top decision-makers of the tech industry in the UK, France, Germany, Italy, and Spain. Surprisingly 36% of respondents said the COVID-19 outbreak had expedited their companies’ AI adoption. Hence, COVID-19 had a positive impact on the Europe AIOps platform market share.
AIOps platform market analysis by component, the AIOps platform market is segmented into platform and services. In 2021, the platform segment led the market with a larger AIOps platform market share. Based on deployment, the market is segmented into on-premises and cloud-based. In 2021, the cloud-based segment accounted for a larger market share. Based on organization size, the market is segmented into small and medium enterprises and large enterprises. In 2021, the large enterprises segment accounted for a more prominent market share. AIOps platform market analysis by vertical, the market is segmented into BFSI, IT & telecom, aerospace and defense, government, transportation, and others. In 2021, the BFSI segment accounted for the largest market share.
The key companies operating in the AIOps platform market are IBM; AppDynamics; BMC Software, Inc; Broadcom Inc; Dynatrace LLC; HCL Technologies Limited; Micro Focus; Moogsoft Inc.; Resolve Systems, LLC; BigPanda; and Splunk Inc.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. AIOps Platform Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. AIOps Platform Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 IT Data Exceeding Human Scale
5.1.2 Need for Resource Optimization
5.2 Market Restraints
5.2.1 Concerns Regarding the Adoption of Modern Solution Over Traditional Methodology
5.3 Market Opportunities
5.3.1 Increasing Data Globally
5.4 Future Trends
5.4.1 Integration of AIOps Platform with Observability Platforms
5.5 Impact Analysis of Drivers and Restraints
6. AIOps Platform Market – Global Market Analysis
6.1 Global AIOps Platform Market Overview
6.2 Global AIOps Platform Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. AIOps Platform Market Analysis – By Component
7.1 Overview
7.1.1 AIOps Platform, by Component (2020 and 2028)
7.2 Platform
7.2.1 Overview
7.2.2 Platform: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
7.3 Services
7.3.1 Overview
7.3.2 Services: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
8. AIOps Platform Market – By Deployment
8.1 Overview
8.2 AIOps Platform, by Deployment (2020 and 2028)
8.3 On-Premises
8.3.1 Overview
8.3.2 On-Premises: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
8.3.3 On-Premises: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Cloud
8.4.1 Overview
8.4.2 Cloud: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
9. AIOps Platform Market – By Organization Size
9.1 Overview
9.1.1 AIOps Platform, by Organization Size (2020 and 2028)
9.2 Small and Medium Enterprises
9.2.1 Overview
9.2.2 Small and Medium Enterprises: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
9.3 Large Enterprises
9.3.1 Overview
9.3.2 Large Enterprises: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
10. AIOps Platform Market – By Vertical
10.1 Overview
10.1.1 AIOps Platform, by Vertical (2020 and 2028)
10.2 BFSI
10.2.1 Overview
10.2.2 BFSI: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.3 IT And Telecom
10.3.1 Overview
10.3.2 IT And Telecom: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Manufacturing
10.4.1 Overview
10.4.2 Manufacturing: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Government
10.5.1 Overview
10.5.2 Government: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: AIOps Platform Market – Revenue and Forecast to 2028 (US$ Million)
11. AIOps Platform Market – Geographic Analysis
12. Impact of COVID-19 Pandemic on AIOps Platform Market
12.1 Overview
12.2 North America: Impact Assessment of COVID-19 Pandemic
12.3 Europe: Impact Assessment of COVID-19 Pandemic
12.4 APAC: Impact Assessment of COVID-19 Pandemic
12.5 MEA: Impact Assessment of COVID-19 Pandemic
12.6 SAM: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. Company Profiles
14.1 BMC Software, Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 IBM Corporation
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 AppDynamics
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Broadcom Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Dynatrace LLC
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 HCL Technologies
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Micro Focus
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Moogsoft Inc.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Resolve Systems, LLC
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Splunk, Inc.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 BigPanda
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/smh4r6
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