The global artificial intelligence for IT operations platform market size is expected to be worth around US$ 32.5 billion by 2030, according to a new report by Vision Research Reports.
The global artificial intelligence for IT operations platform market size was valued at US$ 7.30 billion in 2020 and is anticipated to grow at a CAGR of 22.2% during forecast period 2021 to 2030.
|Market Size||US$ 32.5 billion by 2030|
|Growth Rate||CAGR of 22.2% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Offering, Application, Deployment mode, Organization size, vertical|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||AppDynamics; BMC Software, Inc.; Broadcom; HCL Technologies Limited; International Business Machines Corporation; Micro Focus; Moogsoft; ProphetStor Data Services, Inc.; Resolve Systems; Splunk Inc.|
Rapid digital transformations in global business organizations have brought about increasingly complex datasets. Businesses spend a significant amount of time, cost, and effort 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, AIOps has emerged as a way for IT operations teams to keep up with business demands, trends, and aggressive digitization of IT infrastructure.
By Offering Analysis
The platform offering segment held the AIOps platform market in 2020, accounting for over 89% share of the global revenue. AIOps vendors deliver reliable, responsive, and innovative platform experiences for business organizations to gain a competitive edge in the market.
Several companies offer AI technology for different IT applications, such as real-time analytics, infrastructure management, and network management. This platform enables infrastructure monitoring and business and IT service monitoring. The AIOps services segment is also expected to record a significant CAGR, owing to the growing need for implementation services for AIOps platforms that are deployed into existing systems.
By Deployment Mode Analysis
The on-premises deployment model segment held the market in 2020, accounting for over 71% share of the global revenue. Organizations mostly prefer deploying AI models on-premises owing to the risk associated with public cloud deployment.
The cloud deployment model segment is anticipated to witness substantial growth over the forecast period. This growth can be attributed to the fact that cloud-based AIOps platforms remove firewall restrictions that can hamper access to an on-premises solution.
By Organization Size Analysis
The large enterprises' segment held the market in 2020, accounting for over 76% share of the global revenue. Large enterprises are deploying AIOps solutions for different industries, such as media and entertainment.
The SMEs segment is anticipated to witness substantial growth over the forecast period. This growth can be attributed to the fast-gained acceptance of digital solutions in every industry. Multiple AIOps solutions are being adopted by SMEs to improve their IT infrastructure management.
By Vertical Analysis
The BFSI segment held the market in 2020, accounting for over 20% share of the global revenue. AIOps technology for securing financial and banking-related data has grown considerably in this sector.
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.
AIOps platform is used to improve IT agility for enterprises with extensive IT infrastructure or architecture and deal with multiple technologies with massive data. Application performance analysis is one of the most used applications in every vertical.
By Application Analysis
The real-time analytics application segment held the market in 2020, accounting for over 34% share of the global revenue. The manufacturing industry is leveraging real-time analytics in terms of production quality (vendor quality, data accuracy, and cost overruns), lead times (cycle time and customer service time), delivery reliability (schedule adherence and vendor delivery performance), and costs (waste rates, inventory turns, system complexity, and overhead efficiency).
The infrastructure management application segment is anticipated to witness substantial growth over the forecast period. This growth can be attributed to the fast-gained acceptance of AI across heavy IT infrastructure workloads.
By Regional Analysis
North America led the market in 2020, accounting for over 40% share of the global revenue. In the U.S., AI-based investment advisory consumer applications are getting traction to improve investment decisions. This can be attributed to the presence of numerous AIOps platform vendors in the region.
Asia Pacific is led to witness significant growth over the forecast period. This can be attributed to the rapid adoption of automation across various industries in the region. Furthermore, the fast generation of data in large volumes has paved the way for AI-based solutions and services, such as data analytics.
BMC Software, Inc.
HCL Technologies Limited
International Business Machines Corporation
ProphetStor Data Services, Inc.
Application Performance Analysis
Network & Security Management
Healthcare & Life Sciences
Retail & E-Commerce
IT & Telecom
Energy & Utilities
Government & Public Sector
Media & Entertainment
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 2020 and the forecast between 2021 and 2030. 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 2017 to 2030. 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.
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
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.
The study objectives of this report are:
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