The global artificial intelligence for IT operations platform market size is expected to reach USD 39.97 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 30.6% from 2020 to 2027. Rapid digital transformations in global business organizations have brought about increasingly complex datasets. Businesses spend a significant amount of time, cost, and efforts on processing large volumes of data. IT operations are also on the edge of this transformation, wherein IT teams are required to manage complex datasets to sustain their business. Besides, there has been a considerable increase in data loads over the last few years due to the distributed architecture and dynamic nature of business applications and services. With the increasing IT agility requirement, Artificial Intelligence for IT Operations (AIOps) has emerged as a way for IT operations teams to keep up with business demands, trends, and aggressive digitization of IT infrastructure. AIOps platform refers to the AI platform for IT operations that combines human intelligence with automated algorithms to provide full visibility into IT systems' performance.
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The COVID-19 outbreak has created significant challenges and uncertainties for several businesses. AIOps platform can align with the industries operating in the digital environment amid such a challenging era of business infrastructural transformations. The increasing digital transformation during the pandemic has led to various challenges concerning user experience, security, and the downfall of industries. Organizations are restructuring operational infrastructure as security-related vulnerabilities in the digital environment have increased significantly. Under such highly dynamic circumstances, the AIOps platform helps businesses to take vigilant security measures. For instance, the platform helps ensure the Confidentiality, Integrity, and Availability (CIA) triad information security through its online security applications, such as AI-powered identity verification systems.
The adoption of cloud computing has been increasing rapidly in recent years. Cloud-hosting services such as Microsoft Azure (Microsoft), AWS (Amazon Web Services, Inc.), and Google Cloud (Alphabet Inc.) appeal to many enterprises owing to features such as the ability to scale up or down based on usage, pay-per-use, self-service, and high resiliency. These advantages, in turn, lead to lower IT expenditure, better service quality, and faster time-to-market than traditional IT offerings. AIOps solutions enable new IT operations efficiencies by offering centralized visibility across all environments, which helps diagnose and resolve IT issues faster.
AI For IT Operations Platform Market Report Highlights
• Organizations are deploying AIOps platforms specifically for real-time analytics, and network and security management
• Most AIOps platforms focus on providing enriched company data over data about individuals, called intent data. Intent data is collected behavioral information about an individual's online or digital activities
• The rising adoption of machine learning for infrastructure management in IT environments is one of the major factors driving the market growth
• Key players are leveraging AI and machine learning technologies to improve resilience and enhance productivity in IT operations
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AI For IT Operations Platform Market Segmentation
Grand View Research has segmented the global AIOps platform market based on offering, application, deployment mode, organization size, vertical, and region:
AI For IT Operations Platform Offering Outlook (Revenue, USD Million, 2016 - 2027)
• Platform
• Service
AI For IT Operations Platform Application Outlook (Revenue, USD Million, 2016 - 2027)
• Infrastructure Management
• Application Performance Analysis
• Real-Time Analytics
• Network & Security Management
• Others
AI For IT Operations Platform Deployment Mode Outlook (Revenue, USD Million, 2016 - 2027)
• Cloud
• On-Premises
AI For IT Operations Platform Organization Size Outlook (Revenue, USD Million, 2016 - 2027)
• SMEs
• Large Enterprises
AI For IT Operations Platform Vertical Outlook (Revenue, USD Million, 2016 - 2027)
• BFSI
• Healthcare & Life Sciences
• Retail & E-Commerce
• IT & Telecom
• Energy & Utilities
• Government & Public Sector
• Media & Entertainment
• Others
AI For IT Operations Platform Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o Japan
o India
• South America
o Brazil
• Middle East and Africa (MEA)
List of Key Players of AI For IT Operations Platform Market
• AppDynamics
• BMC Software, Inc.
• Broadcom
• HCL Technologies Limited
• International Business Machines Corporation
• Micro Focus
• Moogsoft
• ProphetStor Data Services, Inc.
• Resolve Systems
• Splunk Inc.
• VMware, Inc
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.