PUBLISHER: 360iResearch | PRODUCT CODE: 1496818
PUBLISHER: 360iResearch | PRODUCT CODE: 1496818
[183 Pages Report] The AIOps Platform Market size was estimated at USD 13.48 billion in 2023 and expected to reach USD 16.37 billion in 2024, at a CAGR 21.76% to reach USD 53.50 billion by 2030.
An artificial intelligence for IT operations (AIOps) platform utilizes advanced algorithms, machine learning, and big data analytics to automate and enhance IT operations. AIOps aid in problem detection, root cause analysis, and proactive resolution of issues by analyzing various IT tools and devices' vast volumes of operational data. This allows organizations to streamline IT operations, reduce downtime, and optimize service performance. The increasing complexity of IT infrastructure and a growing volume of data drives the market growth. However, the market faces limitations, such as a lack of skilled professionals adept at implementing and managing AIOps platforms. In addition, data security and privacy concerns associated with AIOps integration limit the adoption of the AIOps platform. Furthermore, advancements in AI and machine learning technologies further propel the demand for smart IT operations solutions. Enterprises are progressively adopting cloud-based AIOps solutions due to their scalable nature and cost efficiency.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 13.48 billion |
Estimated Year [2024] | USD 16.37 billion |
Forecast Year [2030] | USD 53.50 billion |
CAGR (%) | 21.76% |
Regional Insights
In the Americas region, the demand for AIOps platforms is driven by a mature IT infrastructure and the presence of a significant number of large-scale enterprises that are early adopters of AI technology. The focus on enhancing user experience and optimizing IT operations cost-effectively is prevalent among businesses. The need for agility, scalability, and advanced analytics in IT operations influences customer purchasing behaviors in the region. Investments in AI and ML technologies and a robust research ecosystem lead to ongoing innovation and cater to many verticals, including finance, healthcare, and retail. A high emphasis on regulatory compliance, data privacy, and digital transformation initiatives is observed in the European Union. This has resulted in a strong demand for AIOps solutions that provide insights while adhering to GDPR and other regulations. European enterprises exhibit cautious purchasing behavior, preferring AIOps solutions and prioritizing security and compliance. South America and MEA are promising regions for the AIOps platform market, with both displaying strong growth trends influenced by economic diversification, digital transformation initiatives, and the rise of smart infrastructure investments. The Asia-Pacific region is rapidly embracing AIOps platforms, with countries such as China, Japan, and India leading the way. The government's initiatives underline the national strategy for AI and, by extension, AIOps, showing strong commitment and investment in this technology. Companies focus on technological innovation, and the need to manage complex IT systems effectively drives the AIOps market. The burgeoning IT sector has a vast pool of tech-savvy professionals contributing to adopting AIOps solutions.
Market Insights
The market dynamics represent an ever-changing landscape of the AIOps Platform Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the AIOps Platform Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the AIOps Platform Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
LTIMindtree Introduces Canvas CloudXperienz
LTIMindtree introduced its groundbreaking SaaS offering, the Canvas CloudXperienz. This hybrid cloud management platform is infused with artificial intelligence for IT operations (AIOps) designed to elevate the management of hybrid cloud infrastructures and applications. It brings efficiency, heightened security, and scalability to the forefront. [Published On: 2024-01-10]
Kyndryl and Dynatrace Announce Global Alliance to Enhance Customers' Insights
Kyndryl and Dynatrace joined forces to forge a strategic global partnership and deliver cutting-edge solutions by integrating Kyndryl's comprehensive suite of services from Kyndryl Consult with Dynatrace's groundbreaking technologies. Clients benefit from an enriched experience through Unified Observability, ensuring minimal system disruptions, resource efficiency, swift diagnostics, and user experience enhancements. The alliance further facilitates application modernization, empowering seamless digital transitions and safeguarding against potential downtime. [Published On: 2023-11-01]
BMC Revolutionizes Observability and AIOps With BMC HelixGPT
BMC integrated GPT into its AI-driven service and operations management suite, enhancing the BMC Helix Operations Management solution with advanced AIOps features. These new capabilities leverage BMC HelixGPT, offering state-of-the-art AI functionalities such as dynamic service blueprints, situation explainability, and innovative fingerprinting. These enhancements enable IT operations to achieve unparalleled service availability and efficiency by significantly reducing the mean time to identify and repair IT issues. [Published On: 2023-11-01]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the AIOps Platform Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the AIOps Platform Market, highlighting leading vendors and their innovative profiles. These include Amazon Web Services, Inc., BigPanda, Inc., BMC Software, Inc., Broadcom Inc., Cisco Systems, Inc., CloudFabrix Software Inc., Cloudwise, Datadog, Inc., Dell Inc., Dynatrace, Inc., Elasticsearch B.V., GAVS Technologies, Google LLC by Alphabet Inc., HCL Technologies Limited, Hewlett Packard Enterprise Company, Hexaware Technologies Limited, Infosys Ltd., International Business Machines Corporation, Knot Solutions Pvt. Ltd., LogicMonitor Inc., LTIMindtree Limited, MeshIQ, Microsoft Corporation, Netreo, Inc., New Relic, Inc., OKESTRO Co., Ltd., OpenText Corporation, Oracle Corporation, PagerDuty, Inc., Prodapt Solutions Private Limited, ProphetStor Data Services, Inc., ScienceLogic, Inc., Selector Software, Inc., ServiceNow, Inc., Sigma Data Systems, Tata Consultancy Services Limited, Tech Mahindra Limited, VuNet Systems Private Limited, Wipro Limited, Zenoss Inc., and Zoho Corporation.
Market Segmentation & Coverage