aiops platform Market

The 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.

The adoption of Artificial Intelligence for IT Operations (AIOps) is driven by the need for companies to achieve the necessary speed and agility in their IT systems. AIOps platforms combine human intelligence with automated algorithms to offer users complete visibility into their system performance. Advanced machine learning algorithms collect important data in the background and provide actionable insights to users. This approach provides companies with the capability to make informed decisions and quickly identify and address issues, ensuring their IT environment operates smoothly.  

The AIOps platform integrates self-learning algorithms, machine learning, and intelligence to automate routine IT processes. It analyses behavioural and historical data to identify and predict potential incidents. The market growth of the AIOps platform is driven by several factors, including the need for resource optimization, the challenge of managing IT data that exceeds human scale, and the ability of AIOps to integrate diverse technologies and automate various procedures, reducing overhead time. However, concerns over replacing traditional methodologies with modern solutions are limiting the growth of the AIOps platform market. In addition, the integration of AIOps Platform with Observability Platforms is another contributing factor to the growth of the AIOps platform market.

The implementation of AIOps platforms has allowed for the automation of processes that previously required human intervention. This frees up employees to focus on core tasks, leading to more efficient use of resources, which is particularly important when demand exceeds available resources. AIOps also aids enterprises in integrating diverse technologies and automating various procedures, reducing overhead time and streamlining corporate process automation. According to a Smartsheet survey, 69% of employees believe automation decreases spare time, with 59% stating that if repetitive tasks were automated, they would have over 6 extra hours per week. With global IT organizations having offices in various regions, AIOps and communication tools make managing distant teams and projects simpler. AIOps also streamlines HR activities and aids in the automation of onboarding processes. The implementation of a well-structured onboarding program, according to the Wynhurst Group, increases employee retention rates by 58% for at least three years. Ultimately, a good AIOps platform saves money and improves business operations. By speeding up and simplifying activities, automated business processes allow employees to be more productive, motivated, and engaged in their work. These factors are key drivers for the growth of the AIOps platform market.

Impact of COVID-19 Pandemic on Europe AIOps Platform Market
The COVID-19 outbreak had a severe impact on the economies of several European countries, including the UK, France, Italy, Spain, and Germany, leading to business closures, travel restrictions, and supply chain disruptions. However, a survey of 500 top decision-makers in the tech industry conducted by Morning Consult revealed that 36% of respondents from the UK, France, Germany, Italy, and Spain believed that the pandemic had accelerated their companies' adoption of AI. This unexpected trend has had a favourable impact on the Europe AIOps platform market share.

The AIOps platform market can be analysed based on different segments, such as components, deployment, organization size, and verticals. The component segment comprises platform and services, with the platform segment leading the market in 2021. The deployment segment is divided into on-premises and cloud-based, with the cloud-based segment accounting for a larger market share. The market is also segmented based on organization size into small and medium enterprises and large enterprises, with the latter accounting for a more significant market share in 2021. Finally, the market can be analysed based on verticals such as BFSI, IT & telecom, aerospace and defense, government, transportation, and others. Among these, the BFSI segment held the largest market share in 2021.

By geography, the AIOps Platform market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the global market.

The AIOps Platform market size has been determined through a comprehensive research process that includes both primary and secondary sources. In the initial stage, extensive secondary research was conducted using internal and external sources to gather qualitative and quantitative information related to the market. This process was aimed at obtaining an overview and forecast for the AIOps platform market across all segments, as well as for the five major regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America.

To validate the data and gain further analytical insights, primary interviews were conducted with industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants including valuation experts, research analysts, and key opinion leaders, who specialize in the AIOps Platform market. Overall, this research process has provided a comprehensive understanding of the AIOps Platform market, its trends, opportunities, and challenges, and will help stakeholders make informed decisions.

The key companies operating in the AIOps platform market are IBM; AppDynamics; BMC Software, Inc; Broadcom Inc; Dynatrace LLC; HCL Technologies Limited; Micro Focus; Moogsoft Inc.; Resolve Systems, LLC; BigPanda; and Splunk Inc.