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AIOps Market to Grow at a CAGR of 37.9% to Reach USD 644.96 Billion by 2030

11-28-2022 12:23 PM CET | IT, New Media & Software

Press release from: Allied Market Research

AIOps Market to Grow at a CAGR of 37.9% to Reach USD 644.96 Billion

Allied Market Research published a new report, titled, "AIOps Market to Grow at a CAGR of 37.9% to Reach USD 644.96 Billion by 2030." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Faster and more accurate root cause analysis and amount of data to be assessed drive the growth of the global AIOps Market. However, requirement for highly skilled professionals to implement and update and heavy functional demand hinder the market growth. On the other hand rise in awareness regarding the capabilities of AIOps in the enterprise and corporate world and rise in cloud adoption and rising data volumes creates new opportunities in the coming years.

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Based on component, the platform segment accounted for the highest share in 2020, contributed to more than four-fifths of the global AIOps market, and is expected to continue its leadership status during the forecast period. This is owing to increasing connectivity within the IT operations, growing demand for image recognition system and used for growth of knowledge. However, the services segment is estimated to witness the highest CAGR of 40.6% from 2021 to 2030. This is owing to advancement in AI technologies and adoption of varied deployments.

Based on deployment mode, the on premise segment held the highest share in 2020, contributing to around three-fourths of the global AIOps market, and is estimated to maintain its lead position during the forecast period. On the premise AI Ops market is more reliable because it is taken into account by the IT teams that provide control and reliability, which propels the growth of the market. On the other hand, the cloud segment is projected to manifest the fastest CAGR of 39.1% from 2021 to 2030. This is attributed to the fact that cloud is way more scalable than on-premises deployment.

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Based on region, North America accounted for the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global AIOps market, and is expected to continue its dominance by 2030. This is due to technologically advanced economy and growing convergence of varied technologies like AI, ML, big data, and analytics in this region.

Asia-Pacific is projected to portray the fastest CAGR of 40.3% during the forecast period, as the region is witnessing dynamic changes within the adoption of automation in various business functions across verticals. Some of the key companies mentioned within the report are BM, Splunk, CA Technologies, VMware, Micro Focus, HCL Technologies, Appdynamics, BMC Software, Moogsoft, and Fixstream.

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Covid-19 scenario-

• The emergence of covid-19 positively affected the AIOps Market due to work-from-home policies.

• Many businesses invested in AIOps solutions to ease the growing complexity in IT requirements for many business enterprises.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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