AIOps Market – Top Companies, Business Growth & Investment Opportunities, Share and Forecast 2022-2031

Market Overview

The AIOps market was valued at USD 1.64 billion in 2019 and is expected to reach USD 6.88 billion by 2025, at a CAGR of 27% over the forecast period
– With AIOps gaining traction in the market due to its ability to provide real-time data by eliminating silos, better tracking, and management, automated problem solving, and also helps in digital conversion IT organizations have started the implementation of AIOps which is expected to boost the market growth over the forecast period.
– According to OpsRamp, a leading service-centric AIOps platform provider has revealed that AIOps tools are successful in delivering value for 87% of organizations. With the technology growing at a greater pace, the IT industry is poised to see the further deployment of AIOps.
– Some of the prominent players in the market are entering into strategic partnerships to further the technology which would not only augment the organization’s efforts in providing better customer experience but also help them gain a stronger footprint. This, in turn, would fuel the demand for the AIOps in the market over the forecast period.
– For instance, in June 2019, Wipro Limited announced a partnership with Moogsoft, a pioneer and leading provider of artificial intelligence for IT operations (AIOps), to deliver next-generation artificial intelligence for IT operations solutions for its customers.
– The rising trend for timely problem identification by analyzing the infrastructure behavior coupled with the increasing digitization and cloud migration is expected to drive the growth of the market over the forecast period.
– In June 2019, BMC announced an update for its TrueSight portfolio to help IT-teams more easily extend and adopt the value for AIOps both on-premise and cloud throughout the organizations.

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Scope of the Report

In order to speed service delivery, increase IT efficiency and deliver superior user experience, organizations have started using AIOps i.e Artificial Intelligence in IT Operations that uses advanced algorithms and AI techniques used for analyzing big data from various IT and business operations tools. this report segments the market by Type (Solution, Service), Deployment (On-premises, Cloud), End-user Industry (Media and Entertainment, IT and Telecom, Retail, Healthcare, BFSI) and Geography.

Key Market Trends

BFSI is Expected to Hold Significant Share

– Banking operations include many periodic and aperiodic activities and transactions performed by employees, customers and external agencies. Thes activities are complex which makes its monitoring essential. With AIOps delivering realtime information, automated problem solving amongst others, it is expected to boost the market growth over the forecast period.
– The AIOps platform from CA technologies, i.e. CA Digital Experience Insights, enables the financial firms in solving complex IT problems, including performance, capacity and configuration issues.
– According to the RBI, the share of electronic transactions in the total volume of retail payments increased from 88.9% in 2016-2017 to 92.6% in 2017-2018. With the advent of the third-party payments app coupled with the banks moving towards digitizing the banking services is expected to fuel the demand for the AIOps over the forecast period.

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