AIOps Platform Market – Global Forecast to 2023: Rising Need of Businesses for Holistic 360 Visibility

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Jul 25, 2018

DUBLIN, July 25, 2018 /PRNewswire/ —

The “AIOps Platform Market by Component, Service (Implementation, Consulting, and Managed Services), Application (Real-time Analytics, Infrastructure Management, and Application Performance Management), Vertical, and Region – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The global AIOps platform market size to grow from USD 2.55 billion in 2018 to USD 11.02 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 34.0% during the forecast period.

Major growth factors for the market include the growing demand of AI-based services in IT operations, increasing shift of organization core business toward the cloud, and increasing end-to-end business application assurance and uptime. In addition, investments in the AIOps technology boost the market growth. The global AIOps platform market is segmented by component (platforms and services), application, deployment, organization size, vertical, and region.

In the AIOps platform market, the platforms segment is expected to account for the largest market share. AIOps platform encompasses a combination of various AI strategies including data output, aggregation, analytics, algorithms, automation and orchestration, ML, and visualization. These platforms enable the use of multiple sources of data, data collection methods, and analytical and presentation technologies.

The platform provides multiple IT operations disciplines with advanced analytical capabilities directly and indirectly. The platform is centralized and flexible, and helps to deliver data insights continuously provided by automated algorithmic ML capability analyzing unprecedented amounts of data. To use these technologies, AIOps platforms contain multiple layers that address different functionalities, such as data collection and storage, analytical tools, visualization, and integrations with other applications and services.

The real-time analytics segment under the application is expected to have the largest market size, as AIOps platforms analyze the large volumes of data from disparate sources, by applying various types of algorithms to the data in real time to provide real-time pattern discovery. This platform helps in getting real-time analysis and diagnosis of issues, and actionable insights.

The small and medium-sized enterprises segment is expected to record growth at a higher CAGR during the forecast period. Building AI applications is not a solo endeavor; it involves a team of experts within the business including the expert professionals of AI technology. Putting such a team together is challenging even for large enterprises.

AI professionals are much in demand with global tech companies, such as Facebook, Google, and Amazon, implementing innovative ideas with respect to AI/ML. As a result, AI talent can demand significantly high compensation. However, many small businesses have budget constraints to hire them. Hence, the SMEs segment is expected to adopt AIOps platform solutions at a higher rate than large enterprises.

North America is expected to have the largest market size in the global AIOps platform market, owing to its dominance with developed economies, empowering them to invest in R&D activities heavily. The continued spread of digital transformation across industries and growing convergence of different technologies, such as AI, ML, big data, and analytics, have created an impact in the region and led to an increase in IT budget.

Additionally, to meet the demands of AI-powered solutions, the region’s tech giants, such as IBM, BMC Software, CA Technologies, VMware, and Splunk, are focusing on delivering AI-powered services to help their customers in building intelligent applications. For instance, BMC Software partnered with IBM to integrate ML, predictive capabilities, and AI from IBM Watson into BMC’s leading IT service management solutions. Growing government initiatives in the region are also boosting the AIOps platform market. They are enhancing the existing IT infrastructure by launching programs, such as National Artificial Intelligence Research and Development and smart city programs.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the AIOps Platform Market
4.2 Market Top 3 Services and Regions
4.3 Market By Component, 2018
4.4 Market By Organization Size, 2018
4.5 Market By Region, 2018-2023
4.6 Market Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand of Ai-Based Services for IT Operations
5.2.1.2 Increasing Shift of Organizations’ Core Business Toward Cloud
5.2.1.3 Increasing End-To-End Business Application Assurance and Uptime
5.2.2 Restraints
5.2.2.1 Lack of Skilled Professionals
5.2.3 Opportunities
5.2.3.1 Exponentially Growing Data
5.2.3.2 Rising Need of Businesses for Holistic 360 Visibility
5.2.3.3 Increasing Investments in the AIOps Technology
5.2.4 Challenges
5.2.4.1 Growing Complexities and Dynamic Nature of the IT Architecture
5.2.4.2 Increasing Number of Changes in IT Operations
5.3 Technological Trends
5.3.1 Machine Learning
5.3.2 Big Data Analytics
5.4 Use Cases

6 AIOps Platform Market, By Component
6.1 Introduction
6.2 Platform
6.3 Services

7 Market By Service
7.1 Introduction
7.2 Implementation Services
7.3 License and Maintenance Services
7.4 Training and Education Services
7.5 Consulting Services
7.6 Managed Services

8 Market By Application
8.1 Introduction
8.2 Real-Time Analytics
8.3 Application Performance Management
8.4 Infrastructure Management
8.5 Network and Security Management
8.6 Others

9 AIOps Platform Market, By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Market By Deployment
10.1 Introduction
10.2 On-Premises
10.3 Cloud

11 AIOps Platform Market, By Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Healthcare and Life Sciences
11.4 Retail and Consumer Goods
11.5 IT and Telecom
11.6 Government
11.7 Manufacturing
11.8 Media and Entertainment
11.9 Others

12 AIOps Platform Market, By Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Rest of the World

13 Competitive Landscape
13.1 Overview
13.2 Market Ranking
13.3 Competitive Scenario
13.3.1 New Product Launches and Product Enhancements
13.3.2 Partnerships, Collaborations, and Agreements
13.3.3 Mergers and Acquisitions

14 Company Profiles
14.1 IBM
14.2 Splunk
14.3 CA Technologies
14.4 VMware
14.5 Micro Focus
14.6 HCL Technologies
14.7 AppDynamics
14.8 BMC Software
14.9 Moogsoft
14.10 FixStream
14.11 Key Innovators
14.11.1 Correlsense
14.11.2 AIMS Innovation
14.11.3 Corvil
14.11.4 ExtraHop
14.11.5 Devo
14.11.6 Tech Mahindra
14.11.7 ITRS
14.11.8 Loom Systems
14.11.9 Interlink Software
14.11.10 Grok
14.11.11 CloudFabrix
14.11.12 Dynatrace
14.11.13 Logz.io
14.11.14 Appnomic Systems
14.11.15 OpsDataStore
14.11.16 GAVS Technologies