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HomeITAIOps Market Set to Reach New Heights with Advanced Automation and Analytics

AIOps Market Set to Reach New Heights with Advanced Automation and Analytics

AIOps Market Size

Faster and more accurate root cause analysis and amount of data to be assessed drive the growth of the global AIOps market.

PORTLAND, PORTLAND, OR, UNITED STATE, May 3, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, the global AIOps market size was valued at $26.33 billion in 2020, and is projected to reach $644.96 billion by 2030, registering a CAGR of 37.90% from 2021 to 2030.

AIOps stands for Artificial Intelligence for IT Operations. It’s an approach that combines big data, analytics, and machine learning to automate and enhance IT operations processes. AIOps platforms analyze vast amounts of data generated by various IT systems and applications to detect patterns, anomalies, and trends, helping IT teams identify and resolve issues more efficiently. By leveraging AI and automation, AIOps aims to streamline IT operations, improve system performance, and reduce downtime.

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The AIOps (Artificial Intelligence for IT Operations) market has been rapidly expanding in recent years. AIOps refers to the use of artificial intelligence (AI) and machine learning (ML) techniques to enhance IT operations. Its primary goal is to automate and improve various aspects of IT operations, such as monitoring, troubleshooting, incident management, and performance analysis.

Key drivers for the growth of the AIOps market include the increasing complexity of IT environments, the proliferation of data generated by IT systems, and the need for faster incident resolution and proactive problem prevention. Organizations are increasingly adopting AIOps solutions to streamline their operations, reduce downtime, improve efficiency, and enhance the overall user experience.

The AIOps sector is anticipated to experience growth in the aftermath of the COVID-19 pandemic. With the widespread impact of the coronavirus and the implementation of remote work policies to mitigate its spread, numerous businesses turned to AIOps solutions to alleviate the escalating complexity of their IT requirements. Additionally, the constraints on personnel availability during the pandemic posed challenges for conventional operational approaches. Moreover, the shift to remote work placed added strain on manual operational methods.

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Based on components, the platform segment accounted for the highest share in 2020, contributed to more than four-fifths of the global AIOps market, and is expected to continue its leadership status during the forecast period. This is owing to increasing connectivity within IT operations, growing demand for image recognition systems and used for the growth of knowledge. However, the services segment is estimated to witness the highest CAGR of 40.6% from 2021 to 2030. This is owing to advancements in AI technologies and the adoption of varied deployments.

Based on deployment mode, the on-premise segment held the highest share in 2020, contributing to around three-fourths of the global AIOps market, and is estimated to maintain its lead position during the forecast period. On this premise AI Ops market is more reliable because it is taken into account by the IT teams that provide control and reliability, which propels the growth of the market. On the other hand, the cloud segment is projected to manifest the fastest CAGR of 39.1% from 2021 to 2030. This is attributed to the fact that cloud is way more scalable than on-premises deployment.

Based on region, North America accounted for the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global AIOps market, and is expected to continue its dominance by 2030. This is due to the technologically advanced economy and growing convergence of varied technologies like AI, ML, big data, and analytics in this region. Asia-Pacific is projected to portray the fastest CAGR of 40.3% during the forecast period, as the region is witnessing dynamic changes within the adoption of automation in various business functions across verticals.

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In 2020, the global AIOps market share was dominated by the platform segment, and is expected to maintain its dominance in the upcoming years. Conversational AI platforms come in all shapes and sizes. Some are nothing more than point solutions to address specific needs, others such as Teneo provide everything an enterprise needs to develop a global conversational AI interface. By application, the real-time analytics is estimated to emerge as fastest growing application, as it applies logic and mathematics to data to provide insights for making better decisions quickly. For some use cases, real time simply means the analytics is completed within a few seconds or minutes after the arrival of new data. On-demand real-time analytics waits for users or systems to request a query and then delivers the analytic results. Continuous real-time analytics is more proactive and alerts users or triggers responses as events occur.

North America is anticipated to lead the global AIOps market, primarily due to its strong presence in developed economies, which enables significant investments in research and development. Moreover, the region’s technology giants, including IBM, BMC Software, CA Technologies, VMware, and Splunk, are focusing on providing AI-driven services to support their clients in developing intelligent applications. For instance, BMC Software collaborated with IBM to incorporate machine learning, predictive capabilities, and AI from IBM Watson into BMC’s leading IT service management solutions. Government initiatives in the region, such as National AI Research and Development programs and smart city initiatives, are further propelling the growth of the AIOps market by enhancing existing IT infrastructure.

Leading Market Players:

• HCL Technologies
• Appdynamics
• BMC Software
• Moogsoft
• Fixstream
• BM
• Splunk
• CA Technologies
• VMware
• Micro Focus

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Related Report:

1. MLOps Market

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Originally published at https://www.einpresswire.com/article/708613577/latest-research-shows-aiops-market-set-to-reach-new-heights-with-advanced-automation-and-analytics

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