The AIOps Platform market is projected to grow from USD 8.9 Billion in 2023 to USD 33.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.20% during the forecast period (2023 - 2032).

AIOps Platform Market Overview:

The integration of AI and machine learning technologies into IT operations and management is the primary emphasis of the AIOps (Artificial Intelligence for IT Operations) platform market. Advanced analytics and automation are used by AIOps platforms to boost the effectiveness, dependability, and security of IT infrastructure and services. The increasing complexity of IT environments, the demand for proactive monitoring and problem solving, and the desire to streamline IT operations all contribute to the growth of this industry.

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Key Players:

Key Companies in the AIOps Platform market include,

• AppDynamics
• BMC Software, Inc.
• Broadcom
• HCL Technologies Limited
• International Business Machines Corporation
• Micro Focus
• Moogsoft
• Prophet Stor Data Services, Inc.
• Resolve Systems
• Splunk Inc.

Segment Analysis:

The global AIOps platform market has been segmented based component, service, application, deployment mode, organization size, and verticals

On the basis of component, the market is segmented into platforms and services. In 2022, the platforms category was the largest globally. AIOps suppliers help businesses get a competitive edge in the marketplace by providing dependable, responsive, and innovative platform experiences..

Based on service, the global AIOps platform market has been segmented into implementation service, license and maintenance service, training and education service, consulting service, and managed service. In 2022, the global market was dominated by the implementation service sector. Its corporate advantages, including improved decision-making, quicker digital transformation, effective data processing, and integrated agility, should be credited for this significant market share.

On the basis of application, the market is segmented into real-time analytics, infrastructure management, network and security management, application performance management, and others. In 2022, the worldwide AIOps platform market was dominated by real-time analytics. Production quality (vendor quality, data accuracy, and cost overruns), lead times (cycle time, and customer service time), delivery dependability (schedule adherence, and vendor delivery performance), and costs (waste rates, inventory turns, system complexity, and overhead efficiency) are all areas where the manufacturing sector is utilising real-time analytics.

On the basis of deployment mode, the market is segmented into on-premise and cloud. In 2022, the on-premise segment dominated the world market. The increased security and privacy offered by on-premise solutions in IT operations is responsible for this high proportion.

On the basis of organization size, the market is segmented into SMEs and large enterprises. In 2022, the large enterprise sector dominated the world market. Large businesses are implementing AIOps solutions for several sectors, including media & entertainment.

On the basis of verticals, the market is segmented into BFSI, healthcare and life sciences, retail and consumer goods, telecom and IT, manufacturing, media and entertainment, and others. In 2022, the BFSI segment will rule the world market. The use of AIOps technology for protecting banking and financial data has increased significantly in this industry.

Regional Analysis

The global AIOps platform market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe AIOps Platform market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The AIOps Platform market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World AIOps Platform market comprises of Middle East, Africa, and Latin America.

The largest market share for AIOps platform was maintained by the North American regional sector. In the U.S., AI-based investment advisory consumer applications are getting traction to improve investment decisions. This can be attributed to the presence of numerous AIOps platform vendors in the region. Several organizations, including tech start-ups and giants, are developing AIOps platforms for different verticals.

Moreover, the Europe market has been persistently growing over the forecast period. The high investments in R&D activities and continued digital transformation in developed economies are significant factors driving the adoption of AIOps platforms in the region.

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Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. This can be attributed to the rapid adoption of automation across various industries in the region. Furthermore, the fast generation of data in large volumes has paved the way for AI-based solutions and services, such as data analytics.

Furthermore, the rest of the world's AIOps Platform market is divided into the Middle East, Africa, and Latin America. Due to the growing complexity of IT environments, the demand for proactive monitoring and issue resolution, and the adoption of AI for IT operations, the AIOps platform market in LATAM is expanding. The main markets in the region for AIOps platforms are Brazil, Mexico, and Colombia.

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