The global Artificial Intelligence For IT Operations Platform market size is expected to be worth around US$ 39.96 billion by 2027, according to a new report by Vision Research Reports.
The global Artificial Intelligence For IT Operations Platform market size was valued at US$ 4.35 billion in 2019 and is anticipated to grow at a CAGR of 30.5% during forecast period 2020 to 2027.
Growth Factors
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.
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.
Report Highlights
The platform offering segment led the market in 2019, accounting for over 85.01% share of the global revenue. This high market share can be attributed to its business benefits, such as better decision-making, faster digital transformation, efficient data processing, and cohesive agility. Automation is a crucial component fueling the demand for AIOps platform in organizations. Besides, it enables the deployment of correlation analytics, which helps identify the root cause of the issues taking place in IT infrastructure and fix them as required.
The on-premises deployment model segment led the market in 2019, accounting for over 70.01% share of the global revenue. This high share can be attributed to enhanced security and privacy provided by on-premises solutions in IT operations. These solutions also incorporate edge analytics that minimizes the bandwidth requirement. The integration of AIOps solutions across premises brings improved speed and reliability in results.
The large enterprise segment led the market in 2019, accounting for over 72.01% share of the global revenue in 2019. This high share can be attributed to the increasing competition among key players and rising data decay rates in several industry verticals. Additionally, higher technological proficiency in large enterprises compared to SMEs promotes the deployment of AIOps platforms and related services to improve IT agility. Large enterprises also leverage AIOps in terms of data enrichment capabilities to keep up with the competition.
The BFSI segment led the market in 2019, accounting for over 20.01% share of the global revenue. This high share can be attributed to the increasing IT operations and digital experiences in the financial services and banking sector. AI finds wide applications in banking and financial IT operations, including real-time analytics, solving complex IT issues, banking automation, and enhancing scalability, among other use-cases. For instance, Broadcom, an American semiconductor manufacturing and software development company, offers AIOps platform solutions for banking, finance, and the FinTech industry. The company's solutions cater to data management, operational intelligence, and analytics & reporting requirements in the BFSI industry.
The real-time analytics application segment led the market in 2019, accounting for over 30.01% share of the global revenue. The high share can be attributed to the increasing penetration of real-time leaderboards among businesses to build competitive intelligence. Real-time analytics provides organizations with a data-driven approach for identifying, prioritizing, diagnosing, and resolving events or issues. For instance, GAVS Technologies, a U.S.-based software company, offers the Zero Incident Framework (ZIF) platform that performs real-time mapping of IT infrastructural events and executes real-time data processing. This platform comprises Bot-based remediation, AI-based predictive analytics, and virtualized desktop infrastructure.
North America dominated the market in 2019, accounting for over 40.01% share of the global revenue. This can be attributed to the presence of numerous AIOps platform vendors in the region. Several organizations, including tech start-ups and giants, are developing AIOps platforms for different verticals. The high investments in R&D activities and continued digital transformation in developed economies are also significant factors driving the adoption of AIOps platforms in the region.
Key Players
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.
Market Segmentation
Offering Outlook
Platform
Service
Application Outlook
Infrastructure Management
Application Performance Analysis
Real-Time Analytics
Network & Security Management
Others
Deployment Mode Outlook
Cloud
On-Premises
Organization Size Outlook
SMEs
Large Enterprises
Vertical Outlook
BFSI
Healthcare & Life Sciences
Retail & E-Commerce
IT & Telecom
Energy & Utilities
Government & Public Sector
Media & Entertainment
Others
Regional Outlook
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Asia Pacific
China
Japan
India
South America
Brazil
Middle East and Africa (MEA)
The Artificial Intelligence For IT Operations Platform market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Artificial Intelligence For IT Operations Platform market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Artificial Intelligence For IT Operations Platform market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Artificial Intelligence For IT Operations Platform market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Artificial Intelligence For IT Operations Platform market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Artificial Intelligence For IT Operations Platform capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Artificial Intelligence For IT Operations Platform by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Artificial Intelligence For IT Operations Platform market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Artificial Intelligence For IT Operations Platform market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Artificial Intelligence For IT Operations Platform market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Artificial Intelligence For IT Operations Platform industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Artificial Intelligence For IT Operations Platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Artificial Intelligence For IT Operations Platform market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Artificial Intelligence For IT Operations Platform market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Artificial Intelligence For IT Operations Platform market. These factors have benefited the growth of the global market for Artificial Intelligence For IT Operations Platform. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Artificial Intelligence For IT Operations Platform. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Artificial Intelligence For IT Operations Platform are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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