Chicago, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The global market for AIOps Platform is projected to grow from USD 11.7 billion in 2023 to USD 32.4 billion by 2028, at a CAGR of 22.7% during the forecast period, according to a new report by MarketsandMarkets™.
AIOps is a rapidly growing field that utilizes AI and machine learning to enhance IT operations. It collects and analyzes vast amounts of data from various sources, enabling predictive analytics and intelligent automation. AIOps breaks down silos between IT domains, integrating cloud and hybrid environments while aligning with DevOps and SRE practices. The market has seen significant growth, with various vendors offering powerful AIOps platforms and solutions. As it continues to mature, AIOps is transforming IT management, optimizing infrastructure, improving service reliability, and providing better user experiences, promising a prominent role in the future of IT operations.
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AIOps Platform Market Dynamics:
Drivers:
- Rising complexity and hybridization of IT environments
- Streamlining IT operations for digital transformation through AI and automation
- Growing demand for real-time monitoring, proactive incident response, and predictive analytics
Restraints:
- Growing changes in IT operations
- Insufficient or poor-quality data adversely impact accuracy and reliability of AIOps algorithms
Opportunities:
- Rising demand to enhance automation and increased business innovation
- Growing demand for mitigating security threats and meeting compliance requirements
List of Key Players in AIOps Platform Market:
- IBM (US)
- Splunk (US)
- Broadcom (US)
- OpenText (Canada)
- Dynatrace (US)
- Cisco (US)
- HCL Technologies (India)
- Elastic (US)
- ServiceNow (US)
- HPE (US)
- Datadog (US)
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The AIOps Platform market, by offering, is segmented into platform and services. The platform segment is further bifurcated into Domain-Centric, Monitoring-centric AIOps, ITSM centric-AIOps, Data-Lake centric-AIOps, and Domain-Agnostic. The growth of the AIOps platform market is driven by various platforms that cater to different aspects of IT operations. Domain-centric AIOps focuses on specific IT domains, while monitoring-centric AIOps leverages data from monitoring tools to detect anomalies. ITSM-centric AIOps integrates AI capabilities into ITSM processes for streamlined incident and problem management. Data lake-centric AIOps utilizes large data repositories for advanced analytics and proactive operations. Domain agnostic AIOps provides a unified view of the entire IT environment by combining data from diverse sources. Each platform contributes to the market's expansion, addressing unique challenges and enhancing efficiency, reliability, and scalability in IT operations.
Based on service, the market is segmented into professional service and managed service. The professional services is further bifurcated into implementation services, licenses and maintenance services, training & education services, and consulting services. The managed services is further bifurcated into managed network services, managed cloud services, managed security services, and managed automation services. Managed and professional services have a significant impact on the growth of the AIOps platform market. They offer essential support, from implementation assistance to ongoing management and maintenance, bridging the skills gap and optimizing return on investment. These services ensure smooth deployment and integration of AIOps platforms, tailoring them to specific business needs and providing 24/7 support for incident resolution. Moreover, they offer consultation and training to empower internal teams, fostering a culture of continuous improvement. By providing expertise and comprehensive assistance, managed and professional services accelerate AIOps adoption, leading to improved IT operations, increased efficiency, and better business outcomes.
Based on deployment mode, the market is segmented into on-premises and cloud. The cloud is further bifurcated into public cloud, hybrid cloud and private cloud. The growth of the AIOps platform market is significantly impacted by the increasing adoption of public, private, and hybrid cloud environments. AIOps platforms play a vital role in managing the dynamic and distributed nature of cloud workloads, offering real-time monitoring, incident detection, and resource optimization. In public clouds, AIOps handles massive data volumes and AI algorithms to detect anomalies and improve performance. In private clouds, AIOps enhances operational efficiency and reduces manual efforts. Hybrid clouds benefit from AIOps' ability to provide a unified view and consistent performance across diverse environments. Additionally, AIOps automates incident management, improves cost optimization, and ensures reliable cloud-based services, driving the demand for advanced AIOps solutions.
Based on application, the market is segmented into infrastructure management, ITSM, and Security & Event Management. The infrastructure management includes Anomaly Detection and Root Cause Analysis, Automated Incident Management, Capacity Planning and Optimization, Performance Monitoring and Optimization, Server Monitoring and Management, Storage Monitoring and Management, Application Performance Monitoring, Network Monitoring, Network Performance monitoring, Network Traffic Analysis, Network Security Management, and Self-Healing IT Systems. The ITSM Segment includes Service Level Management, Configuration Management, Actionable Intelligence, IT Asset Management, and Service Desk Automation (Chatbot).
Security & Event Management includes Security Incident and Event Management (SIEM), Threat Intelligence and Detection, Security Automation and Orchestration, Security Event Correlation, User and Entity Behavior Analytics, and Vulnerability Management. Infrastructure management, IT Service Management (ITSM), and Security & Event Management significantly impact the AIOps platform market. AIOps platforms automate tasks like configuration management and performance monitoring, leading to improved system reliability and reduced downtime. Integration with ITSM processes empowers faster issue resolution and optimized resource allocation, enhancing customer satisfaction. In the domain of security and event management, AIOps' real-time monitoring and AI-powered anomaly detection strengthen cybersecurity efforts by enabling swift incident responses. As organizations prioritize efficient infrastructure, streamlined ITSM, and robust security, the demand for AIOps solutions grows, driving the market's expansion and adoption of AIOps technologies across diverse sectors.
Based on industry vertical, the AIOps Platform market is segmented into BFSI, Retail & eCommerce, Transportation and Logistics, Government & Defense, Healthcare & Life Sciences, Telecom, Energy & Utilities, Manufacturing, IT/ITeS, Media & Entertainment, and other verticals (education, and travel and hospitality). AIOps is significantly impacting various verticals, driving its market growth across industries. In finance and banking, AIOps enhances fraud detection and transaction processing. Healthcare benefits from improved patient data management and diagnostic accuracy.
Retail and e-commerce see advantages in demand forecasting and personalized customer experiences. Telecommunications benefit from network performance optimization and proactive maintenance. In manufacturing, AIOps aids predictive maintenance and boosts productivity. Government sectors optimize citizen services and detect security threats. Energy and utilities gain from enhanced energy distribution and maintenance prediction. Transportation and logistics improve fleet management and logistics efficiency. As AIOps addresses industry-specific challenges, its adoption grows, leading to continuous advancements in the market and technology.
The AIOps Platform market has been segmented into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America has been a pioneer in adopting AIOps platforms, driven by its technological advancement, enterprise demand, cloud adoption, and data-driven culture. Large organizations recognize AIOps' potential in optimizing IT operations, resource management, and customer experiences, resulting in early adoption to gain a competitive edge. The region's complex IT infrastructures have further emphasized the need for AIOps to manage diverse systems efficiently. A strong vendor and startup presence, along with early success stories, have inspired other businesses to explore and embrace AIOps solutions. North America's receptiveness to AIOps, combined with its regulatory compliance requirements, has consolidated AIOps' position as an essential technology for driving business growth and innovation.
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