Global Artificial Intelligence for IT Operations (AIOps) Platform Market Ascends at a Healthy CAGR of 17.2%

Introduction

AIOps provide total visibility into the performance of IT systems by fusing human intelligence with automated algorithms. The main reason for deploying AIOps in the IT environment is the company's need for speed and agility. Modern machine learning algorithms also capture the vital data analyzed in the background to provide valuable insights. The application of AI in IT operations has been made possible by recent technological advancements. The AIOps platform uses intelligent, self-learning algorithms enabled by ML to automate common IT operations.

Market Dynamics

Rapid Adoption of Cloud-Based Infrastructure in the IT Sector Drives the Global Market

The popularity of cloud computing has rapidly increased in recent years. According to their stated features, which include the ability to scale up or down based on usage, pay-per-use, self-service, and high resiliency, among others, many businesses are drawn to cloud hosting services like Microsoft Azure (Microsoft), AWS (Amazon Web Services, Inc.), and Google Cloud (Alphabet Inc.). With these advantages, cloud computing outperforms conventional IT solutions regarding IT costs, service quality, and time to market. AIOps solutions' integrated insight across all environments enables rapid detection and resolution of IT issues.

Increasing Need for Risk Mitigation in the IT Organizations Creates Tremendous Opportunities

Given the constantly shifting market demands and the rapid pace of innovation, large firms can reduce risk and ensure business continuity without losing their core products. Effective risk mitigation strategies are essential for IT companies. Solutions for risk mitigation analyze a business from top to bottom to find unmet threats and danger points. The type of risk will dictate how the firm intends to decrease the effects of the risk or the occurrence. Therefore, IT companies are stepping into the AIOps sector to lower risks and boost the value of automation investments. An AIOps platform reduces risk and flexibility by reducing the disruption of essential digital services and accelerating issue discovery and response.

Regional Analysis

Asia-Pacific is the most significant shareholder in the global artificial intelligence for IT operations (AIOps) platform market and is expected to grow at a CAGR of 38.5% during the forecast period. The Asia-Pacific market is more receptive to AI-based goods and services like data analytics because of quick and massive data collecting. For instance, 3,000 Chinese firms were to be evaluated by the financial advisory company Zheshang Fund Management Co. using about 300 artificial intelligence-based investment models. The analysis's findings will be applied to enhance data management techniques and decision-making processes. In India, KRTI 4.0 is a machine learning-based AI platform offered by Infosys Limited, one of India's top IT service providers. KRTI 4.0 is designed to act as an enterprise-wide decision-making support tool, supporting the quick and smooth transmission of analytical knowledge from one facility to the entire business. The proliferation of AI start-ups in the Asia-Pacific region has significantly increased the usage of AIOps platforms and services to enable process automation in IT infrastructure.

North America is expected to grow at a CAGR of 25.3%, generating USD 26,431.81 million during the forecast period. In the US, consumer applications for AI-based financial guidance are gaining traction to assist consumers in making wiser investment decisions. Many businesses, including established IT organizations and start-ups, are also developing AIOps platforms. In addition, significant R&D investments and continuous digital transformation in developed countries significantly impact the adoption of AIOps platforms in the North American market.

Key Highlights

• The global artificial intelligence for IT operations (AIOps) platform market size was valued at USD 3.68 billion in 2021. It is projected to reach USD 28.37 billion by 2030, growing at a CAGR of 17.2% during the forecast period (2022-2030).  
• Based on the offering, the global artificial intelligence for IT operations (AIOps) platform market is bifurcated into platforms and services. The platform segment is the highest contributor to the market and is expected to grow at a CAGR of 30.2% during the forecast period.
• Based on deployment mode, the global artificial intelligence for IT operations (AIOps) platform market is bifurcated into on-premises and cloud. The on-premises segment owns the highest market share and is expected to grow at a CAGR of 28.0% during the forecast period.
• Based on organization size, the global artificial intelligence for IT operations (AIOps) platform market is bifurcated into large enterprises and small and medium-sized enterprises (SMEs). The large enterprise segment is the highest contributor to the market and is expected to grow at a CAGR of 29.9% during the forecast period.
• Based on application, the global artificial intelligence for IT operations (AIOps) platform market is bifurcated into infrastructure management, application performance analysis, software asset management, network and security management, and others. The software asset management segment owns the highest market share and is expected to grow at a CAGR of 32.2% during the forecast period.
• Based on vertical, the global artificial intelligence for IT operations (AIOps) platform market is bifurcated into BFSI (banking, financial services, and insurance), healthcare and life sciences, retail and e-commerce, IT and telecom, energy and utilities, government and public sector, media and entertainment, and others. The BFSI (banking, financial services, and insurance) segment is the highest contributor to the market and is expected to grow at a CAGR of 29.1% during the forecast period.
• Asia-Pacific is the most significant shareholder in the global artificial intelligence for IT operations (AIOps) platform market and is expected to grow at a CAGR of 38.5% during the forecast period.

Competitive Players

1. AppDynamics
2. BMC Software
3. Broadcom
4. HCL Technologies Limited
5. International Business Machines Corporation
6. Micro Focus
7. Moogsoft
8. ProphetStor
9. Resolve Systems
10. Splunk Inc
11. VMware Inc

Recent Developments

• November 2022- SHI International, one of the world's biggest IT solutions providers, teamed up with ScienceLogic, a pioneer in artificial intelligence for IT operations (AIOps), to give customers more insight while seamlessly integrating best-in-class solutions and generating outcomes more quickly.
• October 2022- IBM and Red Hat formed a partnership to develop an open-source initiative to improve AIOps.

Segmentation

1. By Offering
   1. Platform
   2. Services
2. By Deployment Mode
   1. On-Premises
   2. Cloud
3. By Organization Size
   1. Large Enterprises
   2. Small and Medium-Sized Enterprises (SMEs)
4. By Application
   1. Infrastructure Management
   2. Application Performance Analysis
   3. Software Asset Management
   4. Network and Security Management
   5. Others
5. By Vertical
   1. BFSI (Banking, Financial Services, and Insurance)
   2. Healthcare and Life Science
   3. Retail and E-Commerce
   4. IT and Telecom
   5. Energy and Utilities
   6. Government and Public Sector
   7. Media and Entertainment
   8. Others