AIOps Market 2022 – Global Demand and Trends Registering a CAGR of 37.90% in Coming Years
Research Reports
Feb 04, 2022
The global AIOps market generated $26.33 billion in 2020 and is estimated to garner $644.96 billion by 2030, witnessing a CAGR of 37.90% from 2021 to 2030.
Key industry players – BM, Splunk, CA Technologies, VMware, Micro Focus, HCL Technologies, Appdynamics, BMC Software, Moogsoft, and Fixstream
Faster and more accurate root cause analysis and the amount of data to be assessed drive the growth of the global AIOps market. However, the requirement for highly skilled professionals to implement and update and heavy functional demand hinder the AIOps market growth.
Based on region, North America accounted for the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global AIOps market, and is expected to continue its dominance by 2030. This is due to the technologically advanced economy and growing convergence of varied technologies like AI, ML, big data, and analytics in this region. Asia-Pacific is projected to portray the fastest CAGR of 40.3% during the forecast period, as the region is witnessing dynamic changes within the adoption of automation in various business functions across verticals.
Based on deployment mode, the on-premise segment held the highest share in 2020, contributing to around three-fourths of the global AIOps market, and is estimated to maintain its lead position during the forecast period. On the premise AI Ops market is more reliable because it is taken into account by the IT teams that provide control and reliability, which propels the growth of the market. On the other hand, the cloud segment is projected to manifest the fastest CAGR of 39.1% from 2021 to 2030. This is attributed to the fact that cloud is way more scalable than on-premises deployment.
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Based on component, the platform segment accounted for the highest share in 2020, contributed to more than four-fifths of the global AIOps market, and is expected to continue its leadership status during the forecast period. This is owing to increasing connectivity within the IT operations, growing demand for image recognition system and used for growth of knowledge. However, the services segment is estimated to witness the highest CAGR of 40.6% from 2021 to 2030. This is owing to advancement in AI technologies and adoption of varied deployments.
Covid-19 Scenario
- The emergence of covid-19 positively affected the AIOps Market due to work-from-home policies.
- Many businesses invested in AIOps solutions to ease the growing complexity in IT requirements for many business enterprises.
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