Selbyville, Delaware,, Jan. 24, 2023 (GLOBE NEWSWIRE) —
The AIOps market valuation is projected to worth over USD 38 billion by 2032, as reported in a research study by Global Market Insights Inc.
Enterprises’ increasing emphasis on cutting back on IT capital expenditure is set to boost market revenue. Organizations can improve the operational effectiveness of their service delivery infrastructure with the help of AIOps solutions and services. IaaS models are becoming more and more popular among businesses due to their simplicity, speed, and cost-effectiveness. In addition, the Pay-As-You-Go (PAYG) feature eliminates the costs associated with deploying internal infrastructure, supporting the expansion of the IaaS model and market growth.
The AIOps market from service segment accounted for 32% revenue share in 2022. The report claims that a key factor bolstering the demand for managed services is the growing adoption of cloud computing. Furthermore, the emergence of Platform-as-a-Service and Software-as-a-Service is speculated to support the market expansion.
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Under service, the AIOps market from the professional service segment held around 64.5% revenue share in 2022. Service providers offer rapid assistance to customers to solve problems associated with AIOps systems. Companies instruct customers to follow their respective guidelines and maintain the standards for efficient operations, which is estimated to fuel the market demand.
The on-premise segment is poised to witness 26% CAGR between 2023 and 2032. On-premise deployments of AIOps solutions are controlled and managed by internal resources. This allows for the solution to be customized as per corporate infrastructure and business needs, which is likely to contribute to segment development.
The AIOps market from the SMEs segment will expand at a CAGR of 28% through 2032. The demand for AIOps solutions across SMEs is poised to observe an upsurge in the forthcoming years as leading SMEs operating in the market are working on offering their solutions & services to leading organizations.
As per end-user, the IT & telecom segment will observe around 26% growth rate till 2032. Data breaches, identity theft, fraudulent transactions, and other cyberattacks are prevalent across the IT & telecom sector. As a result, the rising necessity for AIOps solutions and services to handle such attacks using cutting-edge ML algorithms on big data is foreseen to push the industry growth.
Based on application, the AIOps market from infrastructure management segment captured above 30% revenue share in 2022. AIOps solutions assist businesses in reducing monitoring workloads, accelerating the mean time to repair, streamlining new deployments, and enhancing end-user satisfaction. Moreover, technological advancements in software-defined infrastructure and cloud computing are anticipated to support the industry outlook.
Asia Pacific artificial intelligence in IT operations market is anticipated to record a CAGR of 30% during the forecast timeline. The huge number of AI startups, coupled with recent M&A, is a significant factor in the evolving the market landscape. Furthermore, the rapid growth of the IT infrastructure, the increasing number of software development start-ups, and the proliferation of AI technologies in the region have all aided in the deployment of AIOps solutions and services.
Some of the leading companies involved in the AIOps market are IBM Corporation, Cisco Systems Inc., Splunk, Dynatrace Inc., Elastic, and Broadcom SA. These companies mainly focus on promoting the development of cutting-edge production techniques and implementing expansion strategies to maintain their market position.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Artificial Intelligence in IT Operations (AIOps) industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2023 – 2032
2.3 Regional trends
2.4 Component trends
2.5 Deployment Model trends
2.6 Enterprise Size trends
2.7 Application trends
2.8 End-user trends
Chapter 3 Artificial Intelligence in IT Operations (AIOps) Market Insights
3.2 Impact of COVID-19 outbreak
3.2.1 By region
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 Middle East & Africa
3.2.2 Strategies by major players to regain pre-COVID level growth
3.3 Impact analysis of Russia-Ukraine war
3.4 Artificial Intelligence in IT Operations (AIOps) industry ecosystem analysis
3.4.1 Domain-centric AIOps providers
3.4.2 Domain-agnostic AIOps providers
3.4.3 Cloud service providers
3.4.4 Third Party Service Providers
3.4.6 Profit margin analysis
3.4.7 Vendor matrix
3.5 Technology & innovation landscape
3.5.1 Real time incident response
3.5.2 Integration with observability platforms
3.5.3 Smart automation
3.5.4 AI enabled cybersecurity
3.6 Patent analysis
3.7 Investment portfolio
3.8 Industry news
3.8.1 North America
3.8.3 Asia Pacific
3.8.4 Latin America
3.8.5 Middle East & Africa
3.9 Regulatory landscape
3.9.1 International Standards
3.9.2 North America
3.9.4 Asia Pacific
3.9.5 Latin America
3.10 Industry impact forces
3.10.1 Growth drivers
188.8.131.52 Growing demand of AI-based services for IT operations
184.108.40.206 Rising affinity of enterprises to shift core business operations on the cloud
220.127.116.11 Increasing end-to-end business application assurance and uptime
18.104.22.168 Rising needs of businesses for holistic 360° visibility into IT operations
22.214.171.124 Surging focus of enterprises on reducing IT capital expenditure
3.10.2 Industry pitfalls & challenges
126.96.36.199 Growing complexities and dynamic nature of the IT architecture
188.8.131.52 Increasing number of changes in IT operations
3.11 Growth potential analysis
3.12 Porter’s analysis
3.12.1 Bargaining power of suppliers
3.12.2 Bargaining power of buyers
3.12.3 The threat of new entrants
3.12.4 The threat of substitute
3.12.5 Competitive rivalry
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.