Global AIOps Platform Market by Current Industry Status, Growth Opportunities, Top Key Players, and Forecast till 2027- A Report by Absolute Markets Insights

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Absolute Markets Insights

19 Aug, 2020, 00:00 GMT

PUNE, India, Aug. 19, 2020 /PRNewswire/ --

  • The global AIOps platform market was valued at US$ 2721.66 Mn in 2018 and is anticipated to witness a compound annual growth rate of 16.30% over the forecast period.
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Rising Need of Decreasing Downtime in IT Systems is Driving the Demand of AIOps Platform Market.
Rising Need of Decreasing Downtime in IT Systems is Driving the Demand of AIOps Platform Market.

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  • The recent outbreak of COVID-19 pandemic has accelerated adoption of cloud technology as businesses are encouraging employees to work from home. This trend is expected to inflate the demand of AIOps platform to securely migrate and monitor the new infrastructure.
  • AIOps platform providers are adopting service-centric approach to eliminate the complexity in adoption of AIOps which is expected to propel the share of services segment in the market.
  • Root cause analysis is an important application of AIOps. The use of previous data for analysing system issues can help in optimising process workflow. It is estimated that the use of AIOps platforms can reduce root cause analysis delay by more than 60%.  
  • The use of AIOps platforms in the BFSI industry is gaining momentum off late. The automation of root cause analysis is being increasingly observed in BFSI. STACKSTATE INC., for instance, provides these platforms to the BFSI industry and helps them identifying IT-related issues almost 80% faster as compared to the traditional systems.

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  • Asia Pacific is expected to register the highest growth rate in the global AIOps platform market over the forecast period owing to the growing IT industry in the region.
  • Some of the players operating in the AIOps platform market are Aisera, Inc., Anodot Ltd., AppDynamics, BigPanda, Inc., BMC Software, Inc., Broadcom, Digitate, Dynatrace LLC, EdgeVerve Systems Limited, HCL Technologies Limited, IBM Corporation, ITRS Group Ltd, LogicMonitor Inc., Loom Systems, Micro Focus, Moogsoft, Netreo, New Relic, Inc., Optanix, Resolve Systems, Tech Mahindra Limited, Stackstate Inc, VMware, Inc. and Zenoss Inc. amongst others. 
  • The detailed research study provides qualitative and quantitative analysis of the AIOps platform market. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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