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Top Reasons Why Businesses Today need AIops Platform Market ?

08-27-2020 01:01 PM CET | IT, New Media & Software

Press release from: Coherent Market Insights

AIOPS

AIOPS

Artificial Intelligence for IT Operations (AIOps) is a multilayered technology platform that enhances IT operations by using machine learning and analytics to analyze the big data collected for various IT operations tools and devices to resolve the issues in real-time. 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.

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.

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Increasing adoption of Cloud Platform accelerated growth of the global AIOPs Platform market:

The increasing adoption of cloud platforms from the various organizations of different verticals such as banking, e-commerce, healthcare, and others accelerated demand for the AIOps platform. According to Coherent Market Insights analysis, in 2016, 86% of the workload was processed by cloud data centers, whereas only 14% was processed by conventional data centers. Moreover, by 2016, the global cloud data traffic generated 6.0 ZB data, annually and is expected to reach 19.5 ZB data, annually by 2021. Therefore, increasing the adoption of the cloud platform is a major factor fuelling the growth of the global AIOPs platform market.

Moreover, the advancement in the image recognition system has led to increased system accuracy, which in turn has propelled the demand for Machine learning. For instance, according to Coherent Market Insights’ analysis in image labeling challenge, the accuracy of machine learning was 72% in 2010 and it reached 96% in 2015. The ability of machines to process large volumes of data and to use the data for prediction has made the Machine learning a key tool in various applications such as BFSI, healthcare, and others. Therefore, the high adoption of Machine learning is expected to propel the growth of the AIOps platform market.

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North America held the dominant position in AIops Platform market in 2017

On the basis of geography, the Artificial intelligence for the IT operation Platform market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America held the dominant position in the market in 2017 and is projected to retain its dominance throughout the forecast period. The U.S. and Canada are major economies driving the growth of the AIops Platform market in this region, owing to the region been an early adopter of advanced technologies such as Artificial intelligence, Machine learning, big data, and analytics in the region. Moreover, the presence of IT companies such as Google, Microsoft Corporation, IBM, Oracle, and others plays a major role in the growth of the market in the region.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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