The latest report by IMARC Group, titled “AIOps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global AIOps market size is expected to grow at a CAGR of 21.2% during 2022-2027. Artificial intelligence for information technology operations or AIOps is an online platform used to monitor and manage modern IT environments that are hybrid, dynamic, distributed, and componentized. The platform makes use of artificial intelligence and machine learning to automate tasks and processes with minimal human intervention. AIOps perform vital functions such as taking in heterogeneous data from various sources about components of the IT environment, including network, application, infrastructure, cloud instances and storage. It applies logic and mathematics to provide insights for making better decisions quickly. It is also employed for capacity optimization and network, log, and application monitoring. As a result, AIOps find applications in banking, financial services and insurance (BFSI), healthcare, automation, IT, and logistics industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global AIOps Market Trends:
The market is primarily driven by the increasing adoption of AI-based solutions by enterprises. In addition, the rising amount of data generated on a day-to-day basis is increasing the need to assess faster and more accurate root cause analysis, which is fueling the market growth. Besides this, organizations are using AIOps for internal and supply-chain complications. They also monitor activities and transactions performed by employees, customers, and external agencies, thus propelling their demand across the globe. Nowadays, the widespread adoption of the work-from-home (WFH) trend due to the outbreak of coronavirus disease (COVID-19) pandemic is also significantly impacting the market growth. Furthermore, various technological advancements in cloud-computing solutions, extensive investments in research and development (R&D) activities and improvements in IT infrastructure, especially in developing nations, are expected to facilitate market growth in the upcoming years.
- Based on the organization size, the market has been segmented into small and medium, and large enterprises.
- On the basis of the deployment mode, the market has been classified into on-premise and cloud.
- The market has been categorized based on the end-use industry into media and entertainment, IT and telecom, retail, BFSI, healthcare, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Appdynamics (Cisco Systems Inc.), BMC Software Inc., Broadcom Inc., Dynatrace Inc., HCL Technologies, International Business Machines Corporation, Micro Focus International plc, Moogsoft Inc., Resolve Systems LLC, Splunk Inc., Vmware Inc. (Dell Technologies Inc.) and Zenoss Inc.
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