AIOps Platform Market Growth Drivers and Opportunities 2031
The AIOps platform market size is projected to reach US$ 46.2 billion by 2031 from US$ 4.9 billion in 2023. The market is expected to register a CAGR of 32.2% during 2023–2031. Increasing integration of AIOps platforms and human-AI collaboration in IT are likely to remain key trends in the market.
AIOps Platform Market Analysis
AIOps solutions leverage a data-driven approach to identify and resolve prevalent IT issues. They utilize a centralized platform to aggregate essential data from various sources, analyze it, and deliver precise resolutions and actionable insights, ultimately improving user experience. This all-inclusive post will investigate into the concept of AIOps, providing multiple examples and use cases to illustrate how AIOps can optimize and streamline technical and operational business processes.
AIOps Platform Market Overview
AIOps, short for 'artificial intelligence for IT operations,' covers platforms that utilize machine learning (ML) and analytics to streamline IT operations. By tapping into substantial amounts of operational data, AIOps can rapidly identify and address issues. Through the application of ML, AIOps utilizes diverse data sources to generate automated insights that endlessly refine and evolve. AIOps is designed to tackle the rapidly changing IT environment by integrating machine learning, automation, and big data capabilities.
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AIOps Platform Market: Strategic Insights
Market Size Value in US$ 2,831.2 Million in 2021 Market Size Value by US$ 19,933.5 Million by 2028 Growth rate CAGR of 32.2% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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AIOps Platform Market: Strategic Insights
| Market Size Value in | US$ 2,831.2 Million in 2021 |
| Market Size Value by | US$ 19,933.5 Million by 2028 |
| Growth rate | CAGR of 32.2% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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AIOps Platform Market Drivers and Opportunities
Increasing Integration of AIOps Platforms to Favor Market
The increasing integration of AIOps platforms into well-established IT ecosystems is one noteworthy trend in recent years. Businesses are realising how important it is for AIOps technologies and existing IT management solutions to work together seamlessly. A complete approach to IT operations is made possible by this integration, which also improves visibility, speeds up problem response, and streamlines decision-making procedures. AIOps act as a unifying force that harmonizes IT operations with overarching organizational objectives by removing barriers and fostering collaboration.
The Collaboration between Edge Computing and AIOps
As edge computing gains traction, AIOps is expanding beyond traditional data centers. It is anticipated that AIOps systems will provide real-time monitoring and management capabilities by integrating with edge computing environments. The combination of edge computing and AIOps improves the agility of IT operations, particularly in sectors where high-performance computation and low latency are essential.
AIOps Platform Market Report Segmentation Analysis
Key segments that contributed to the derivation of the AIOps platform market analysis are component, deployment, organization size, and vertical.
- Based on component, the market is segmented into platforms and services. The platforms segment held a significant market share in 2023.
- In terms of deployment, the market is divided into on-premises and cloud. The on-premises segment held a substantial share of the market in 2023.
- Based on organization size, the market is segmented into SMEs and large enterprises. The large enterprises segment held a significant market share in 2023.
- In terms of vertical, the market is divided into BFSI, telecom and IT, manufacturing, government, and others. The telecom and IT segment held a substantial share of the market in 2023.
AIOps Platform Market Share Analysis by Geography
The geographic scope of the AIOps platform market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America is projected to hold a significant revenue share of the AIOps platform market. AI-powered consumer financial advisory applications are gaining push in the US, aiming to assist individuals in making informed investment choices. This trend can be accredited to the proliferation of AIOps platform providers in the region. Various enterprises, encompassing both tech start-ups and industry frontrunners, are actively engaged in the development of AIOps platforms. The widespread adoption of AIOps platforms in the region is supported by substantial investment in research and development, as well as a sustained drive towards digital transformation in prosperous nations.
AIOps Platform Market Report Scope
AIOps Platform Market News and Recent Developments
The AIOps platform market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the AIOps platform market are listed below:
- Dell Technologies (NYSE: DELL) announced it has signed a definitive agreement to acquire Moogsoft, an AI-driven provider of intelligent monitoring solutions that support DevOps and ITOps. This transaction will further enhance Dell’s AIOps capabilities as part of its longstanding approach of embedding AI functionality within its product portfolio and as a critical component of its “multi-cloud by design” strategy.
(Source: Dell Inc., Press Release, July 2023)
- Riverbed, the leader in AI Observability, introduced the most advanced AI-powered observability platform to optimize digital experiences and launched several new solutions and a unified agent built on this open architecture. Expanding on its broad collection of full-fidelity data across the IT landscape, Riverbed’s new observability capabilities now enable IT to overcome visibility blind spots around public cloud, Zero Trust and SD-WAN architectures, and remote work environments. Additionally, with Aternity Mobile, IT can now monitor enterprise-owned Apple iOS and Android mobile device performance to proactively identify digital experience issues and take targeted actions to improve the productivity of front-line employees. The Company also released the next generation of Riverbed IQ 2.0. This AIOps service reduces alert fatigue and enables IT to identify and solve issues faster by using AI-driven correlation and automation of Riverbed and third-party data.
(Source: Riverbed Technology, Press Release, May 2024)
AIOps Platform Market Report Coverage and Deliverables
The “AIOps Platform Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- AIOps platform market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- AIOps platform market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- AIOps platform market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the AIOps platform market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Organization Size, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global AIOps platform market is estimated to register a CAGR of 32.2% during the forecast period 2023–2031.
Increasing integration of AIOps platforms and focus on sustainable IT operations are driving market growth.
Human-AI collaboration in IT operations is a key trend in the market.
IBM, AppDynamics, BMC Software, Inc., Broadcom Inc., Dynatrace LLC, HCL Technologies Limited, Micro Focus International plc, Moogsoft, Resolve Systems, LLC, and Splunk Inc. are key players operating in the market.
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Some of the customization options available based on the request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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