Press release
Global AIOps Market Projected to Grow at 30.7% CAGR, Reaching $32.56 Billion by 2029
AIOps
What Will the AIOps Industry Market Size Be by 2025?
The market size of AIOps has witnessed a significant surge in the past few years. It is projected to escalate from $8.91 billion in 2024 to $11.16 billion in 2025, with a compound annual growth rate (CAGR) of 25.3%. Factors such as regulatory compliance necessities, the introduction of containerization and microservices, emphasis on identifying the primary cause of issues, concentration on cost reduction and effectiveness, and elevated user experience expectations contributed to the growth during this historical timeframe.
What's the Long-Term Growth Forecast for the AIOps Market Size Through 2029?
The market size of AIOps is predicted to witness a significant surge in the coming years, expanding to $32.56 billion by 2029, with a compound annual growth rate (CAGR) of 30.7%. The anticipated growth in the forecast period can be attributed to the evolution in containerization and microservices management, the continuing rise in alert volumes and false positives, and the increasing adoption of agile and DevOps practices. Key trends anticipated throughout the forecast period include dovetailing with DevOps operations, heightened concern for proactive problem resolution, better monitoring of user experiences, advanced analytics for predictive insights, hybrid and multi-cloud management, and context-aware incident handling.
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What Are the Key Growth Drivers Fueling the AIOps Market Expansion?
The AIOps market is being propelled by the growing adoption of artificial intelligence (AI), which mirrors human intelligence and is designed to behave similarly. AI enhances organizations in numerous ways, such as improving customer experiences and automating redundant tasks. AI gathers and amalgamates vast and increasing data generated by IT infrastructure components, then sifts out unnecessary data or background noise to spot instances and patterns linked to issues concerning application availability and performance. Owing to this efficiency in handling complex tasks, organizations are embracing AI. For example, data provided by the Gradient Flow, a US-based company offering IT services and content creation and analysis, in April 2024 revealed that AI use is growing rapidly, jumping from 3.7% of firms in the fall of 2023 to 5.4% by February 2024. The increasing incorporation of AI across various sectors is, therefore, projected to stimulate AIOps demand during the predicted period.
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What Are the Key Trends Driving AIOps Market Growth?
The trend of Strategic Partnership is gaining traction within the AIOps market. AIOps sector companies are prioritizing these collaborations to enhance their product development ventures and break into fresh market spaces. For example, in April 2023, the US-based IT service management company, IBM Consulting formed an alliance with CloudFabrix, a U.S. firm that offers a data-centric AIOps platform. This joint effort allows both entities to deliver advanced IT operations use cases like enterprise-wide observability, composable in-place search and asset intelligence analytics by integrating data, AI and automation.
How Is the AIOps Market Segmented?
The AIOps market covered in this report is segmented -
1) By Component: Platform, Services
2) By Organization Size: Small and Medium Enterprises, Large Enterprise
3) By Deployment Mode: On Premise, Cloud
4) By Application: Real-Time Analytics, Infrastructure Management, Network & Security Management, Application Performance Management, Other Applications
5) By End-Use: Banking, Financial Services, and Insurance (BFSI), Information Technology (IT) & Telecom, Healthcare, Retail, Government, Manufacturing, Media & entertainment, Other End Users
Subsegments:
1) By Platform: AIOps Software, Analytics And Visualization Tools, Automation And Orchestration Tools, Incident Management Tools, Integration And API Management Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Which Companies Are Leading the Charge in AIOps Market Innovation?
Major companies operating in the AIOps market include BMC Software Inc, IBM Corporation, Moogsoft Inc, Splunk Inc, Appdynamics LLC (Cisco Systems Inc), Sumo Logic Inc., Dynatrace LLC, Extrahop Networks Inc., New Relic Inc., Resolve Systems LLC, Stackstate BV, CA Technologies, Micro Focus International plc, Dell Inc., Broadcom Inc., ScienceLogic, Correlata Solutions, Loom Systems, OpsRamp Inc., PagerDuty Inc., BigPanda Inc., Datadog Inc., Elastic N. V., LogicMonitor Inc., Zoho Corporation, Netreo Inc., Atlassian Corporation Plc, Opsview Ltd., Microsoft Azure AI, Google LLC
Which Regions Are Leading the Global AIOps Market in Revenue?
North America was the largest region in the AIOps market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AIOps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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