AIops Platform Market Explore Future Growth:Machines Corporation, Splunk, CA Technologies, VMware & Micro Focus International

The AIOps is a platform used for Artificial Intelligence and advance algorithm techniques to analyzing big data for various IT and business operation tools. Increasing adoption of various technologies to enhance efficiency in businesses and for digital transformation is a major factor aiding in growth of the AIOps platform market. The global AIops Platform market generated revenue of US$ 1,270 billion in 2016. The global AIops Platform market is expected to generate a revenue of US$ 20,428 billion with a CAGR of 36.2% by 2025.

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Market Dynamics

Increasing demand for real time data analysis plays a major role in growth of the AIOps Platform market, owing to the ability of AIOps platform to analyze vast volumes of data through application of various algorithms in real time. In today’s world, due to increasing stiff competition in the market, the analysis of real time data has become one of the major requirement in various organization. Implementation of new technology, such as stream mining in-database analytics and in-memory analytics provides real time analysis for situational intelligence, fraud detection, and customer interactions. Moreover, the increasing installation of Internet of things (IoT) devices has generated large amount of real time data. For instance, according to Coherent Market Insights, in 2015, around 145 zeta byte of data was generated by IoT devices, annually and is projected to reach 600 zeta byte by 2020.

Key Takeaways of the Market:

Asia Pacific is projected to witness significant growth in the market with the highest CAGR over the forecast period. India, China, and Japan are some of the key economies contributing to growth of the market in the region. This is owing to increasing development in IT infrastructure for adopting new technologies to work efficiently with existing systems and data. For Instance, according to Coherent Market Insights’ analysis, in 2016, the IT spending in Asia Pacific region was US$ 933 billion and is expected to reach US$ 1.36 trillion by 2021. Rising trend of digitization across sectors, especially by small and medium enterprises is expected to fuel growth of market in the region. Moreover, rising trend of adopting cloud-based solutions has accelerated growth of the market in the region. For instance, according to Coherent Market Insights’ analysis, in 2016, in Asia Pacific, the cloud data traffic was 908 EB per month and is expected to reach 3469 EB per month by 2021.

Small and mid-size company segment is expected witness significant growth with the highest CAGR during the forecast period. This is owing to increasing adoption of cloud computing technology and advance technologies such as machine learning, analytics, and others in the segment. For instance, business analytics tool is a resource-intensive software or solution, which requires huge data storage capacity provided by cloud platform.

"Key Players- Global AIops Platform Market"

The major players operating in the global AIops Platform industry include, International Business Machines Corporation, Splunk Inc., CA Technologies, VMware, Inc, Micro Focus International plc, HCL Technologies Limited, AppDynamics, BMC Software, Inc., Moogsoft, and FixStream Network Inc.

Detailed Segmentation:

Global AIOps Platform Market, By Component:
- Platform
- Services

Global AIOps Platform Market, By Verticals
- Banking, Financial Services, and Insurance
- Healthcare and Life Sciences
- Retail and Consumer Goods
- IT and Telecom
- Government
- Manufacturing
- Media and Entertainment
- Others

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This release was published on openPR.