AIOps Market
Rise in cloud adoption and rising data volumes creates new opportunities in the coming years.
PORTLAND, PORTLAND, OR , UNITED STATES , August 16, 2022 /EINPresswire.com/ — Faster and more accurate root cause analysis and amount of data to be assessed & rise in awareness regarding the capabilities of AIOps in the enterprise and corporate world drive the growth of the global AIOps industry.
Major key market players such as – IBM, Splunk, CA Technologies, VMware, Micro Focus, HCL Technologies, Appdynamics, BMC Software, Moogsoft, and Fixstream.
The global AIOps industry generated $26.33 billion in 2020, and is estimated to garner $644.96 billion by 2030, witnessing a CAGR of 37.90% from 2021 to 2030.
Based on component, the platform segment accounted for the highest share in 2020, contributed to more than four-fifths of the global AIOps industry, and is expected to continue its leadership status during the forecast period. This is owing to increasing connectivity within the IT operations, growing demand for image recognition system and used for 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 advancement in AI technologies and adoption of varied deployments.
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Based on deployment mode, the on premise segment held the highest share in 2020, contributing to around three-fourths of the global AIOps industry, and is estimated to maintain its lead position during the forecast period. On the 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 industry, and is expected to continue its dominance by 2030. This is due to 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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Covid-19 Scenario:
• The emergence of covid-19 positively affected the AIOps Market due to work-from-home policies.
• Many businesses invested in AIOps solutions to ease the growing complexity in IT requirements for many business enterprises.
Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
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