AIOps Global Market Report 2024

“AIOps Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on aiops market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for aiops? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aiops market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Component: Platform; Services
• 2) By Organization Size: Small and Medium Enterprises; Large Enterprise
• 3) By Deployment Mode: On Premise; Cloud
• 4) By Application: Real-Time Analytics; Infrastructure Management; Network & Security Management; Application Performance Management; Other Applications
• 5) By End-Use: Banking, Financial Services, and Insurance (BFSI); Information Technology (IT) & Telecom; Healthcare; Retail; Government; Manufacturing; Media & entertainment; Other End Users
• Companies Mentioned: BMC Software Inc; IBM Corporation; Moogsoft Inc; Splunk Inc; Appdynamics LLC (Cisco Systems Inc)
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

AIOps, short for Artificial Intelligence for IT Operations, involves the application of natural language processing and machine learning models to streamline and automate operational processes. This is particularly beneficial for large enterprises dealing with substantial volumes of log and performance data, enabling them to monitor assets and gain visibility into dependencies within and beyond their IT systems.

The key components of AIOps encompass platforms and services. An AIOps Platform refers to a system integrating big data and machine learning capabilities to support core IT operations activities through scalable data intake and analysis of the ever-growing amount, diversity, and velocity of IT data. AIOps is utilized by enterprises of varying sizes, including small, medium, and large-scale, to enhance operational efficiency. Deployment options include on-premise or cloud solutions. AIOps finds widespread application across sectors such as banking, financial services & insurance (BFSI), information technology (IT) & telecom, healthcare, retail, government, manufacturing, media & entertainment, and others. Its applications span real-time analytics, infrastructure management, network & security management, and application performance management.

The AIOps market research report is one of a series of new reports from The Business Research Company that provides AIOps market statistics, including AIOps industry global market size, regional shares, competitors with a AIOps market share, detailed AIOps market segments, market trends and opportunities, and any further data you may need to thrive in the AIOps industry. This AIOps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The aiops market size has grown exponentially in recent years. It will grow from $7. 19 billion in 2023 to $9. 09 billion in 2024 at a compound annual growth rate (CAGR) of 26. 4%. The observed growth in the historical period can be attributed to various factors, including regulatory compliance requirements, the widespread adoption of containerization and microservices, a heightened emphasis on root cause analysis, a focus on cost optimization and efficiency, and increased expectations for enhanced user experiences.

The aiops market size is expected to see exponential growth in the next few years. It will grow to $24. 62 billion in 2028 at a compound annual growth rate (CAGR) of 28. 3%. The anticipated growth in the forecast period can be attributed to the evolution in containerization and microservices management, a continued increase in the volume of alerts and false positives, and the growing adoption of agile and DevOps practices. Key trends expected in the forecast period involve increased integration with DevOps practices, a focus on proactive problem resolution, enhanced monitoring of user experiences, advanced analytics for predictive insights, hybrid and multi-cloud management, and context-aware incident management.

The AIOps market is experiencing growth due to the increased adoption of artificial intelligence (AI), which replicates human intelligence and is programmed to emulate human thinking and actions. AI brings significant improvements to organizations, from enhancing customer experiences to automating repetitive tasks. AIOps, in particular, leverages AI to collect and process vast amounts of data generated by IT infrastructure components, filtering out unnecessary data or noise. This process identifies patterns associated with application availability and performance issues, reducing the workload and operating more efficiently within adopting organizations. According to a Forbes report, AI is already benefiting 86% of organizations, with 25% of those significantly deploying AI anticipating higher revenue by 2021. Hence, the increasing adoption of AI across various sectors is projected to drive the demand for AIOps during the forecast period.

The burgeoning adoption of Internet of Things (IoT) devices is anticipated to propel the growth of the AIOps market. IoT devices, which are nonstandard computing devices wirelessly connected to networks, generate substantial data. AIOps assists in managing the complexity of these connected devices within the IoT ecosystem, thus driving market demand. For instance, a report by IoT Analytics in September 2021 highlighted a global IoT connection count of 12. 2 billion active endpoints, indicating an 8% increase. Projections suggest that by 2025, there will be over 30 billion IoT connections, approximately four IoT devices per person. Consequently, the rising number of IoT devices contributes significantly to the expansion of the AIOps market.

Strategic partnerships have emerged as a key trend gaining traction within the AIOps market. Companies operating in the AIOps sector are focusing on strategic partnerships to bolster their new product development initiatives and penetrate new markets. For example, in April 2023, IBM Consulting, a US-based IT service management company, collaborated with CloudFabrix, a US-based data-centric AIOps platform provider. This partnership aims to help clients execute next-generation IT operations use cases by unifying data, AI, and automation, enabling enterprise-wide observability, in-place search capabilities, and asset intelligence analytics. Through such collaborations, companies aim to leverage complementary expertise to offer enhanced solutions and expand their market reach within the AIOps domain.

Major companies within the AIOps market are actively engaged in developing new AIOps platforms, sophisticated software solutions employing AI, machine learning (ML), and analytics to automate IT operations and enhance the efficiency of IT personnel. For instance, in September 2023, Senser Technologies Corp, a US-based software solutions provider, unveiled an Artificial Intelligence for IT Operations (AIOps) platform. These platforms leverage AI and ML technologies to automate, optimize, and monitor various IT processes. They excel in collecting and analyzing vast volumes of data from diverse sources, including monitoring and observability tools, configuration management databases, app performance monitoring service maps, and cloud orchestration systems. The AIOps platform by Senser Technologies Corp utilizes the extended Berkeley Packet Filter (eBPF) technology running in the microkernel of Linux operating systems to gather data from IT environments, ensuring comprehensive insights and analysis.

A significant development occurred in June 2021 when IBM, a US-based technology company specializing in computer hardware, middleware, and software, acquired Turbonomic for an undisclosed sum. This acquisition bolsters IBM's continuous investments in enhancing its capabilities, particularly in partnership with companies like Cisco, to aid clients in accelerating their transition to hybrid cloud and AI technologies. This acquisition builds upon IBM's previous strategic moves, including the acquisition of Instana for application performance monitoring (APM) and observability. IBM also introduced IBM Cloud Pak for Watson AIOps, leveraging AI to automate IT operations efficiently. Turbonomic, the acquired company, is based in the US and specializes in providing Application Resource Management (ARM) and Network Performance Management (NPM) solutions, complementing IBM's efforts in fortifying its position within the AIOps domain while expanding its suite of offerings in IT automation and performance management.

Major companies operating in the in the aiops market report are BMC Software Inc, IBM Corporation, Moogsoft Inc, Splunk Inc, Appdynamics LLC (Cisco Systems Inc), Sumo Logic Inc., Dynatrace LLC, Extrahop Networks Inc., New Relic Inc., Resolve Systems LLC, Stackstate BV, CA Technologies, Micro Focus International plc, Dell Inc., Broadcom Inc., ScienceLogic, Correlata Solutions, Loom Systems, OpsRamp Inc., PagerDuty Inc., BigPanda Inc., Datadog Inc., Elastic N. V., LogicMonitor Inc., Zoho Corporation, Netreo Inc., Atlassian Corporation Plc, Opsview Ltd., Microsoft Azure AI, Google LLC

North America was the largest region in the AIOps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aiops market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the aiops market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The AlOps market includes revenues earned by entities by automating IT operations procedures, such as event correlation, anomaly detection, and causality determination, by combining big data and machine learning. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.