[Research Report] The global 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.
North America is expected to account for the majority of global revenue of the AIOps platform market. AI-based financial advising consumer applications are gaining traction in the US to help people make better investment decisions. This can be attributable to the region's abundance AIOps platform suppliers. AIOps platforms are being developed by several enterprises, including tech start-ups and industry leaders. The region's use of AIOps platforms is fueled by substantial R&D spending and continuous digital transformation in wealthy nations.
The quantity of data created, recorded, duplicated, and consumed in the world increased from 1.2 trillion gigabytes to 59 trillion gigabytes between 2010 and 2020 and is projected to grow to more than 180 zettabytes by 2025. This growth is attributed to the enormous increase in people working, studying, and researching. However, only 2% of the data was saved and kept until 2021; the remainder was either produced or copied solely for utilization or cached and overwritten with newer data. As a result, businesses are increasingly turning to automation to manage these massive amounts of data. Digitalization is critical for every firm to resume business operations and profit from changing conditions. Having more data helps the company confirm its product and opens up new revenue streams in their overburdened product portfolios. As a result, AI is projected to play a significant role in bifurcating data and offering profitable insights, fueling the AIOps platform market.
Impact of COVID-19 Pandemic on North America AIOps Platform Market
The COVID-19 pandemic had a favorable impact on the North America AIOps Platform Market. The use of the AIOps Platforms to answer queries across various verticals, such as healthcare, BFSI, retail, and e-commerce, surged due to governments’ announcement of lockdown in this region. In addition, the AIOps platform aided several enterprises in establishing stable remote work environments. According to IBM Security Report 2020, in response to COVID-19, approximately 54% of enterprises demanded remote working. With the rising need for cloud-based solutions due to the pandemic, the demand for AIOps platforms is augmenting substantially.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
AIOps Platform Market: Strategic Insights
Market Size Value in US$ 2,831.2 Million in 2021 Market Size Value by US$ 19,933.5 Million by 2028 Growth rate CAGR of 32.2% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
AIOps Platform Market: Strategic Insights
| Market Size Value in | US$ 2,831.2 Million in 2021 |
| Market Size Value by | US$ 19,933.5 Million by 2028 |
| Growth rate | CAGR of 32.2% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Lucrative Regions for AIOps Platform Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
AIOps Platform
Market Insights
IT Data Exceeding Human Scale Boosts AIOps Platform Market Growth
Traditional ways of controlling IT complexity (offline, manual activities requiring human intervention) do not even operate in dynamic, elastic contexts. It is no longer possible to track and manage this complexity by manual, human monitoring. For years, ITOps has exceeded the human scale, and the situation is only getting worse. Organizations want their critical applications to be available and operate well. They are also seeking a highly automated setup that makes it easier to take clear decisions about new product development by leveraging classified data. Hence, the introduction of the AIOps platforms has catered to these demands.
AIOps platforms consolidate all applications and infrastructure operations into a single management portal with a dashboard view. Studies claim that AIOps can automatically perform 90% of the operative tasks, and human interaction is required only for 10% of tasks. Hence, the rise in global digital data and the premium support offered by the AIOps platform are driving the AIOps platform market growth.
AIOps are beneficial for any company wishing to modernize to a digital platform incorporating cutting-edge automation, analytics, artificial intelligence, and machine learning technologies. AIOps systems decrease the flood of warnings and can perform everyday tasks, such as backups, server restarts, and low-risk maintenance. AIOps are expected to become widely used and mainstream soon.
Component-based Market Insights
Based on component, the market is segmented into platforms and services. In 2021, the platforms segment led the market with a larger AIOps platform market share.
AIOps Platform Market, by Component, 2020 and 2028 (%)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Deployment-based Market Insights
AIOps Platform market analysis by deployment, the AIOps Platform market is segmented into on-premises and cloud-based. In 2021, the cloud-based segment accounted for a larger AIOps platform market share.
Organization Size-based Market Insights
AIOps Platform market analysis by organization size, the AIOps Platform market is segmented into small and medium enterprises and large enterprises. In 2021, the large enterprises segment accounted for a more prominent market share.
Vertical-based Market Insights
Based on vertical, the AIOps Platform 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 players operating in the AIOps Platform market adopt various strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the AIOps Platform market. A few developments by key players are listed below:
- In December 2020, Broadcom launched the latest generation of AIOps, an open platform with artificial intelligence, machine learning, and end-to-end observability that aids organizations in achieving operational excellence. Broadcom's AIOps now include new AI/ML techniques and customizable views for more actionable data. Full-stack observability, DX dashboards, service and alarm analytics, intelligent automation, capacity analytics, and continuous feedback loops are just a few of the new features.
- In February 2021, Operations Bridge – SaaS deployments are flexible and quick, removing the need for ongoing maintenance, complex upgrades, and capital expenditure approvals. Micro Focus has released Operations Bridge – SaaS, a software-as-a-service offering, which combines the company's proven full-stack AIOps platform with the agility of SaaS. This new offering enables IT organizations to gain complete visibility, solve problems faster, automate processes, and transform data into actionable insights.
Company Profiles
- IBM
- AppDynamics
- BMC Software, Inc
- Broadcom Inc
- Dynatrace LLC
- HCL Technologies Limited
- Micro Focus
- Moogsoft Inc.
- Resolve Systems, LLC
- Splunk Inc.
- BigPanda
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Organization Size, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
Businesses are increasingly turning to automation to manage these massive amounts of data. Digitalization is critical for every firm to resume business operations and profit from changing conditions. Having more data helps the company confirm its product and opens up new revenue streams in their overburdened product portfolios. As a result, AI is projected to play a significant role in bifurcating data and offering profitable insights, fueling the AIOps platform market.
In 2020, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is a prospective market for AIOps platform vendors.
The major companies in AIOps platform includes IBM Corporation, BMC, Splunk, Moogsoft and Broadcom Inc.
The global AIOps platform market was dominated by the cloud-based segment led the AIOps platform with a market share of 63.5% in 2020.
The global AIOps platform market was dominated by the platforms segment led the AIOps platform with a market share of 76.5% in 2020.
The List Of Companies - AIOps Platform Market
- IBM
- AppDynamics
- BMC Software, Inc
- Broadcom Inc
- Dynatrace LLC
- HCL Technologies Limited
- Micro Focus International plc
- Moogsoft
- Resolve Systems, LLC
- Splunk Inc.
- BigPanda
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to AIOps Platform Market
Apr 2022
Engineering Professional Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Consulting, Non-Consulting), Service Type (Designing and Construction, ESG, Program Management, Others), Sector (Private, Public), Vertical (Advanced Manufacturing, Infrastructure, Energy and Utilities, Environmental, Transportation, Others), Advanced Manufacturing (Data Center, Life Sciences, Electronics, and Semiconductor, EV and EV Battery, Others), Infrastructure (Buildings and Cities, Health Infrastructure, Telecommunication Infrastructure, Others), Energy And Utilities (Renewables, Energy Storage, Transmission and Distribution), Transportation (Aviation, Highways and Bridges, Ports and Maritime, Rail and Transit), Water (Water, Wastewater), and Geography (Americas, Europe, Asia Pacific and Middle East and Africa)
Apr 2022
Virtual Reality Puzzle Games Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Age (18 to 34 Years, Above 35 Years, 13 to 17 Years, and Upto 12 Years), Player Type (Single Player and Multi Player), and End Users (Individuals and Professionals)
Apr 2022
Inspection Software for Government Services Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Services (Implementation and Deployment, Support and Maintenance, Training, and Consulting), Deployment (Cloud and On-premises), Application (Permitting and Licensing Management, Inspection and Scheduling Management, Contract Management, and Others), and End User (Local Government, State Government, and Federal Government)
Apr 2022
Spend Analytics for Electronics and Semiconductor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
Apr 2022
Photonic Design Automation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Academic Research and Industrial Research & Manufacturing)
Apr 2022
Voice-based Payments Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), By Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises), By Industry (BFSI, Automotive, Healthcare, Retail, Government, and Others), and by Geography
Apr 2022
Private 5G Network Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services); Frequency (Sub-6 GHz and mmWave), End User (Manufacturing, Energy and Utilities, Automotive, Military and Defense, Government and Public Safety, and Others)
Apr 2022
Unified Threat Management Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End Users (BFSI, Manufacturing, Healthcare, Retail, Government, IT & Telecom, and Others)