Artificial Intelligence for IT Operations Platform Market

Artificial Intelligence for IT Operations Platform Market by Offerings (Service and Platform), Applications (Real-time Analytics, Infrastructure Management, Network & Security Management, Application Performance Analysis, and Others), Deployment Modes (On-premises and Cloud), Organization Size (Large Enterprises and Small & Medium Enterprises), Verticals (Retail & E-commerce, BFSI, IT & Telecom, Healthcare & Lifesciences, Media & Entertainment, Energy & Utilities, Government & Public Sector, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

  • Report ID: ICT-SE-2147
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 188
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The global artificial intelligence for IT operations platform market size was valued at 6.07 billion in 2020 and is estimated to expand at a substantial CAGR over the forecast period, 2021-2028. The growth of the market is attributed to the increasing level of awareness among the targeted population base.


Artificial Intelligence for IT Operations Platform Market summary

Big data functionality and machine learning are combined together by artificial intelligence for IT operations (AIOps) platform to analyze or inspect the increasing variety, velocity, and volume of data generated accounting to digital transformation in order to support operations. Artificial intelligence for IT operations platform has various capabilities or functionalities such as analytics of data using machine learning, accessing & storing data, gobbling data from various sources, and recommending suitable responses to data post-analysis. These platforms also help in predicting and modeling requirements for workload capacity which performs as an opportunity for the market growth. Several advancements occurring in technology have also helped the market to pave the way. To improve the services offered by the AIOps platform, techniques such as machine learning (ML) and natural language processing (NLP) are used by a number of companies.

The COVID-19 pandemic had a significant impact on various industries; however, the pandemic had a positive impact on the artificial intelligence for the IT operations platform market. Work-from-home became mandatory for everyone due to the pandemic which is anticipated to encourage the growth of tech domains of next-generation which includes artificial intelligence. For instance, an increase has been seen in the new signups for SaaS and cloud-based services provided by LogMeIn, Inc. (U.S.) amid the pandemic. Moreover, the products and services provided by the tech companies are being expanded in order to increase their availability worldwide. For instance, Rapid Response Virtual Agent was launched by Google LLC in April 2020 to respond to COVID-19 related concerns of customers over voice, chat, and social networking channels.

Market Trends, Drivers, Restraints, and Opportunities

  • Various sectors approaching automation by using artificial intelligence in order to increase the organization’s productivity is expected to propel the market growth.
  • Growing adoption of cloud-based services and applications is anticipated to fuel the market growth during the forecast period.
  • Rising cost of data breaches and the increasing harmful insider attack threats are estimated to boost the market growth over the forecast period.
  • Skilled users for artificial intelligence are available in limited numbers which is a key challenge that can restrain the market expansion.
  • Adoption of cloud infrastructure by small & medium enterprises and the increasing government initiatives for adoption of artificial intelligence are projected to create lucrative opportunities for the market growth.

Scope of the Report

The report on the global artificial intelligence for IT operations platform market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Artificial Intelligence For IT Operations Platform Market– Global Industry Analysis, Growth, Share, Size, Trends, And Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Offerings (Service and Platform), Applications (Real-time Analytics, Infrastructure Management, Network & Security Management, Application Performance Analysis, and Others), Deployment Modes (On-premises and Cloud), Organization Size (Large Enterprises and Small & Medium Enterprises), and Verticals (Retail & E-commerce, BFSI, IT & Telecom, Healthcare & Lifesciences, Media & Entertainment, Energy & Utilities, Government & Public Sector, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

VMware, Inc.; BMC Software, Inc.; HCL Technologies Ltd.; Broadcom; International Business Machines Corp.; Moogsoft; Micro Focus; ProphetStor Data Services, Inc.; Splunk Inc.; Resolve Systems; and AppDynamics

Market Segment Insights

Services segment is expected to expand at a significant CAGR

On the basis of offerings, the artificial intelligence for the IT operations platform market is bifurcated into services and platforms. The platform segment dominated the market in 2019 in terms of revenue owing to rapid digital transformation, providing business benefits, orderly data processing, and better decision-making. The demand for the AIOps platform is increasing in organizations due to the surging need for automation as they help to identify the root cause of an issue occurring and providing required solutions to fix them. On the other hand, the services segment is expected to expand at a significant CAGR attributed to the rising need for the AIOps platform’s implementation services that are installed in the existing systems.

Infrastructure management segment is anticipated to exhibit a substantial growth

Based on applications, the market is segmented into real-time analytics, infrastructure management, network & security management, application performance analysis, and others. The real-time analytics segment held a key share of the market in 2018 owing to the increasing insights of real-time leader boards building competitive intelligence between various businesses. Real-time analytics bestows the organizations with a data-driven way to identify, prioritize, diagnose, and resolve the issue.  However, the infrastructure management segment is anticipated to exhibit a substantial growth owing to the rapid acceptance of artificial intelligence in the heavy IT infrastructure workloads.


Artificial Intelligence for IT Operations Platform Market application

Cloud segment is estimated to grow at a substantial rate

On the basis of deployment modes, the artificial intelligence for the IT operations platform market is bifurcated into on-premises and cloud. The on-premises segment led the market in 2019 owing to the enhanced privacy and security solutions provided by it in the operations of IT. On-premises deployment models also provide reliable results and improved speed.  On the other hand, the cloud segment is estimated to grow at a substantial rate as they remove the maintenance cost along with removing firewall restrictions that are expected to hamper the on-premises solution access.

Small & medium enterprises segment is expected to grow at a considerable rate

Based on the organization size, the market is bifurcated into large enterprises and small & medium enterprises. The large enterprises segment held the major share of the market in 2019 owing to the increasing data decay rates in verticals of several industries and growing competition among the major key players of the market. However, the small & medium enterprises segment is expected to grow at a considerable rate due to the acceptance of digital solutions at a rapid pace among all the industries.


Artificial Intelligence for IT Operations Platform Market organization size

BFSI segment is anticipated to grow at a significant rate

On the basis of verticals, the market is divided into retail & e-commerce, BFSI, IT & telecom, healthcare & lifesciences, media & entertainment, energy & utilities, government & public sector, and others. The BFSI segment held a considerable share of the market in 2019 and is anticipated to grow at a significant rate owing to the digital experiences and IT operations in the banking sector and financial services.


Artificial Intelligence for IT Operations Platform Market verticals

Asia Pacific market is estimated to exhibit a significant growth

In terms of regions, the artificial intelligence for IT operations platform market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

North America led the market in 2019 owing to the presence of a major number of AIOps platform vendors in the region. On the other hand, Asia Pacific market is estimated to exhibit a significant growth attributed to the increasing adoption of automation among several industries present in the region.


Artificial Intelligence for IT Operations Platform Market region
 

Segments

Segments Covered in the Report
The global artificial intelligence for IT operations platform market has been segmented on the basis of
Offerings

  • Service
  • Platform

 Applications

  • Real-time Analytics
  • Infrastructure Management
  • Network & Security Management
  • Application Performance Analysis
  • Others

Deployment Modes

  • On-premises
  • Cloud

Organization Size

  • Large Enterprises
  • Small & Medium Enterprises

Verticals

  • Retail & E-commerce
  • BFSI
  • IT & Telecom
  • Healthcare & Lifesciences
  • Media & Entertainment
  • Energy & Utilities
  • Government & Public Sector
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • VMware, Inc.
  • BMC Software, Inc.
  • HCL Technologies Ltd.
  • Broadcom
  • International Business Machines Corp.
  • Moogsoft
  • Micro Focus
  • ProphetStor Data Services, Inc.
  • Splunk Inc.
  • Resolve Systems
  • AppDynamics

 

Competitive Landscape

Key players competing in the global artificial intelligence for IT operations platform market are VMware, Inc.; BMC Software, Inc.; HCL Technologies Ltd.; Broadcom; International Business Machines Corp.; Moogsoft; Micro Focus; ProphetStor Data Services, Inc.; Splunk Inc.; Resolve Systems; and AppDynamics. Many of these players have adopted business strategies such as launching new products, developing new technology, acquisitions, mergers partnerships, and alliances in order to increase their operation expansion, consumer base, and market position globally. For instance, Loom Systems was acquired by ServiceNow in January 2020 to drive the efficiency of operations and boost their productivity.

Artificial Intelligence for IT Operations Platform Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Artificial Intelligence for IT Operations Platform Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Artificial Intelligence for IT Operations Platform Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Artificial Intelligence for IT Operations Platform Market - Supply Chain
  4.5. Global Artificial Intelligence for IT Operations Platform Market Forecast
     4.5.1. Artificial Intelligence for IT Operations Platform Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Artificial Intelligence for IT Operations Platform Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Artificial Intelligence for IT Operations Platform Market Absolute $ Opportunity
5. Global Artificial Intelligence for IT Operations Platform Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Artificial Intelligence for IT Operations Platform Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Artificial Intelligence for IT Operations Platform Demand Share Forecast, 2019-2026
6. North America Artificial Intelligence for IT Operations Platform Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Artificial Intelligence for IT Operations Platform Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Artificial Intelligence for IT Operations Platform Demand Share Forecast, 2019-2026
7. Latin America Artificial Intelligence for IT Operations Platform Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Artificial Intelligence for IT Operations Platform Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Artificial Intelligence for IT Operations Platform Demand Share Forecast, 2019-2026
8. Europe Artificial Intelligence for IT Operations Platform Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Artificial Intelligence for IT Operations Platform Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Artificial Intelligence for IT Operations Platform Demand Share Forecast, 2019-2026
9. Asia Pacific Artificial Intelligence for IT Operations Platform Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Artificial Intelligence for IT Operations Platform Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Artificial Intelligence for IT Operations Platform Demand Share Forecast, 2019-2026
10. Middle East & Africa Artificial Intelligence for IT Operations Platform Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Artificial Intelligence for IT Operations Platform Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Artificial Intelligence for IT Operations Platform Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Artificial Intelligence for IT Operations Platform Market: Market Share Analysis
  11.2. Artificial Intelligence for IT Operations Platform Distributors and Customers
  11.3. Artificial Intelligence for IT Operations Platform Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. VMware, Inc.
     11.4.2. BMC Software, Inc.
     11.4.3. HCL Technologies Ltd.
     11.4.4. Broadcom
     11.4.5. International Business Machines Corp.
     11.4.6. Moogsoft
     11.4.7. Micro Focus
     11.4.8. ProphetStor

Segments Covered in the Report
The global artificial intelligence for IT operations platform market has been segmented on the basis of
Offerings

  • Service
  • Platform

 Applications

  • Real-time Analytics
  • Infrastructure Management
  • Network & Security Management
  • Application Performance Analysis
  • Others

Deployment Modes

  • On-premises
  • Cloud

Organization Size

  • Large Enterprises
  • Small & Medium Enterprises

Verticals

  • Retail & E-commerce
  • BFSI
  • IT & Telecom
  • Healthcare & Lifesciences
  • Media & Entertainment
  • Energy & Utilities
  • Government & Public Sector
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • VMware, Inc.
  • BMC Software, Inc.
  • HCL Technologies Ltd.
  • Broadcom
  • International Business Machines Corp.
  • Moogsoft
  • Micro Focus
  • ProphetStor Data Services, Inc.
  • Splunk Inc.
  • Resolve Systems
  • AppDynamics

 

Key players competing in the global artificial intelligence for IT operations platform market are VMware, Inc.; BMC Software, Inc.; HCL Technologies Ltd.; Broadcom; International Business Machines Corp.; Moogsoft; Micro Focus; ProphetStor Data Services, Inc.; Splunk Inc.; Resolve Systems; and AppDynamics. Many of these players have adopted business strategies such as launching new products, developing new technology, acquisitions, mergers partnerships, and alliances in order to increase their operation expansion, consumer base, and market position globally. For instance, Loom Systems was acquired by ServiceNow in January 2020 to drive the efficiency of operations and boost their productivity.

Artificial Intelligence for IT Operations Platform Market keyplayers

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