The global AIOps market size is projected to reach $23.9 billion by 2027, from $4.0 billion in 2020, at a CAGR of 30% during 2021-2027, according to Valuates Reports.
Major factors driving the growth of AIOps market size are:
- Increasing infrastructure complexity and scale is driving the AIOps market. AIOps helps to quickly extract actionable insights from the operational data to help automate tasks and processes that have traditionally required human intervention.
- Increasing adoption of cloud-based IT solutions, along with increasing modes of online payments, are expected to propel the AIOps market.
- AIOps helps increase the operational efficiency of the service delivery infrastructure. This is driven by the ability to glean insights from large volumes of data – and then transform these insights into action. These features further drive the AIOps market.
Trends influencing the AIOps market size
The need for real-time analysis and diagnosis of issues and actionable insights is expected to drive the growth of the AiOps market. The real-time analytics offered by AiOps provides organizations a data-driven approach for detecting, prioritizing, diagnosing, and resolving incidents. It helps reduce mean time to detect and repair. With faster mean time to repair, organizations can eliminate repetitive events, alerts, and respond quickly to production incidents.
The increasing need for delivering exceptional user experience is expected to drive the AIOps market size. Delivering superior user experiences is considered to be one of the most important business outcomes.
AIOps delivers a superior user experience due to its predictive analytics capabilities. By leveraging data, it can predict probable future events that may impact availability and performance and even proactively remediate those before they become an issue. These predictive analytics go beyond what is possible by humans alone and help make the case for adopting AIOps.
Network security and IT leaders are struggling to turn data into actionable insights and action as the volume and velocity of data continue to rise. AIOps strives to deliver the appropriate information to the appropriate personnel at the appropriate moment. AIOps combines and improves functionalities present in a variety of network monitoring tools into a single, multifunction analytics platform that spans the whole network, from the LAN to the cloud. These features of AIOps are expected to drive the AIOps market.
Digital transformation necessitates a delivery architecture that combines in-house and third-party systems, as well as on-premise and cloud systems, each with its management and monitoring requirements. As a result, there is a proliferation of tools with overlapping capabilities.
AIOps platforms provide the capacity to look at the big picture by combining and aggregating data from various sources. They can, for example, provide a top-to-bottom and end-to-end picture of the whole supply chain that supports a specific service or business function. This property of AIOps is expected to increase the growth of the AIOPs market.
AIOps market share
Based on application, as AIOps analyze massive volumes of data from different sources in real-time, using various types of algorithms to give real-time pattern discovery, the real-time analytics segment is predicted to be the most lucrative segment during the forecast period.
Based on region, North America is expected to be the most lucrative segment during the forecast period due to its technologically advanced economy.
The ongoing expansion of digital transformation across industries, as well as the growing convergence of various technologies such as AI, ML, big data, and analytics, have had an impact on the region, resulting in an increase in IT budget, which is expected to further support the AIOps market growth.