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AIOps Market - Growth, Trends, and Forecasts (2020 - 2025)

  • ID: 5175921
  • Report
  • August 2020
  • Region: Global
  • 112 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • CloudfabriX Software Inc.
  • GAVS Technology Inc.
  • HCL Technologies Ltd
  • IBM Corporation
  • ITRS Group Ltd
  • Moogsoft Inc.
  • MORE
The AIOps Market is expected to grow at a CAGR of 12.9% during the forecast period 2020 to 2025. Large volumes of alerts, significant IT noise, and signals distributed across disparate tools hold back DevOps professionals. Meanwhile, teams' requirement to improve performance across IT infrastructure and more accurately solve and resolve incidents faster is growing.
  • With the increasing awareness of how AI can address these challenges and help run IT operations, enterprises are shifting focus towards the adoption of the AI-based solutions. For instance, a recent study from New Relic found that 89 % of 750 global senior IT decision-makers surveyed believe that AI and machine learning are essential for how organizations run IT operations. Nearly 84 % have mentioned AI, and machine learning will ultimately make their role more manageable. This positive outlook for AI is set to transform into widespread usage of AIOps over the next few years.
  • Further, as devices are gaining intelligence, systems have become more complicated with increasing data volume, thus increasing the adoption of AIOps. The increasing cloud adoption across the world is also fueling automation of these processes. Therefore, as more enterprises migrate to the cloud, the need for AIOps platforms is also expected to increase.
  • Some of the prominent players in the market are entering into strategic partnerships to further the technology, which would augment the organization's efforts in providing better customer experience and 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.
  • Further, vendors in the market are now developing AIOps platforms, which primarily use technologies such as machine learning, AI technologies to provide increased visibility into the IT operations with much fewer false alarms and more accurate predictive warnings. For instance, IBM Corporation announced the launch of its Watson AI platform at its recent Think Digital conference aimed at CIOs facing disruptions brought on by the pandemic COVID-19. IBM Watson AIOps uses artificial intelligence (AI) technologies to automate how enterprises self-detect, diagnose, and respond to IT anomalies in real-time.
  • Further, the COVID-19 pandemic outbreak has increased the need for faster incident diagnosis, rapid response, and service restoration among the enterprises. As the AIOps offer this, companies operating in the market are focusing on increasing awareness of the technology for which they are offering free solutions for a few months. Through their offering, they allow enterprises' internal IT teams and external partner staff to securely access, troubleshoot, and restore business services using remote consoles. For instance, California-based Aisera has been providing 24/7 AI technology-based assistance to health care providers and government agencies, offering its remote working virtual assistant and collaboration app free for 60 days as of March 2020.
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. These 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. For instance, 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.
  • The rising implementation of regulatory standards and the increasing adoption of cloud-based IT solutions and increasing modes of online payments are expected to drive the market. Further, banks are increasingly deploying robust IT applications and services, to meet the rising needs of internal users and consumers, as there is a constant shift toward online digital platforms and mobile forms of financial services.
  • The integration of artificial intelligence across the IT services makes it possible for the banks to automate their traditional business process, thereby significantly decreasing the need for manual realtime monitoring. For instance, when implemented, facial-recognition technology is expected to benefit banks and financial institutions while providing a higher degree of security.
  • Thefts related to the banking sector payments are prominent, which is propelling the banking and financial institutions to look for solutions that would enable them to better serve their end-users. This presents the AIOps providers with a potential opportunity to boost the growth of the market over the forecast period.
Asia-Pacific to Witness Fastest Growth

The Asia-Pacific region is expected to witness significant growth during the forecast period, owing to the increasing digitization initiatives of various governments. Additionally, the rapid increase in cloud computing in this region is expected to be a significant driver for cloud-based AIOps solutions. For instance, the Digital India initiative’s primary goal is to provide government services to citizens, electronically, by improving the IT infrastructure and increasing internet connectivity.
  • Also, the hybrid cloud is emerging as a favorable method for cloud adoption in AsiaPacific, as it offers a variety of infrastructure depending on application requirements for integration and security. In addition, factors, including a high penetration rate in healthcare, retail, IT, and BFSI verticals, are expected to further drive the market growth across the region.
  • Countries including China, India, South Korea, Japan, Singapore, and Australia are some major consumers and investors in the regional AI Ops market. The region is heavily investing in AI technologies and adopting its use cases. For instance, China is betting on AI and investing in AI and deploying AI on a scale no other country is doing. The country has announced billions in funding for startups and launched programs to attract researchers overseas and streamline its data policies.
  • The regional telecom industry is emerging as one of the significant investors and adopters of the AI Ops platforms. An initiative like AIOps Catalyst is further creating awareness and investment in the studied market. Some of the major contributors to this joint innovation, mostly in Asia-Pacific based, are China Mobile, China Telecom, China Unicom, KDDI Research, and PCCW/Hong Kong Telecommunications (HKT), Smart Communications and Telefonica Deutschland. The members who also provide solutions are BOCO Inter-telecom, BONC, Huawei, Tech Mahindra, and Si-Tech.
Competitive Landscape

The competitive rivalry amongst the players in the market is high owing to the presence of some key players such as IBM, HCL, Tech Mahindra, amongst others. The ability to continually innovate their products and services has allowed them to gain a competitive advantage over other players in the market. Through strategic partnerships, mergers & acquisitions, and research and development activities, these players can attain a greater market footprint.

May 2020: IBM Corporation partnered with PagerDuty to connect the human and machine data to provide a more powerful AIOps solution for the PagerDuty’s customers. By leveraging PagerDuty’s 350+ integrations and over 11 years of analytics on how customers respond to incidents, IBM Watson AIOps will be able to provide users with comprehensive insights on events that may impact IT to take action in real-time to resolve the issues.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
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FEATURED COMPANIES

  • CloudfabriX Software Inc.
  • GAVS Technology Inc.
  • HCL Technologies Ltd
  • IBM Corporation
  • ITRS Group Ltd
  • Moogsoft Inc.
  • MORE
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Market Drivers
4.4 Market Restraints

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Solution
5.1.2 Service
5.2 By Deployment
5.2.1 On-premise
5.2.2 Cloud
5.3 By End-user Industry
5.3.1 Media and Entertainment
5.3.2 IT and Telecom
5.3.3 Retail
5.3.4 BFSI
5.3.5 Other End-user Industries
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Rest of the World

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Splunk Inc.
6.1.2 IBM Corporation
6.1.3 Broadcom Inc. (CA Technologies Inc.)
6.1.4 Micro Focus International PLC.
6.1.5 HCL Technologies Ltd
6.1.6 AppDynamics LLC (CISCO Systems)
6.1.7 BMC Software, Inc.(Kohlberg Kravis Roberts & Co. L.P.)
6.1.8 Moogsoft Inc.
6.1.9 Tech Mahindra Ltd.
6.1.10 ITRS Group Ltd
6.1.11 CloudfabriX Software Inc.
6.1.12 GAVS Technology Inc.

7 INVESTMENT ANALYSIS

8 FUTURE OF THE MARKET
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  • Splunk Inc.
  • IBM Corporation
  • Broadcom Inc. (CA Technologies Inc.)
  • Micro Focus International PLC.
  • HCL Technologies Ltd
  • AppDynamics LLC (CISCO Systems)
  • BMC Software, Inc.(Kohlberg Kravis Roberts & Co. L.P.)
  • Moogsoft Inc.
  • Tech Mahindra Ltd.
  • ITRS Group Ltd
  • CloudfabriX Software Inc.
  • GAVS Technology Inc.
Note: Product cover images may vary from those shown
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