USD 8.36 Billion
Global Artificial Intelligence for IT Operations Platform Market Size, Share, Growth Analysis, By Offering(Platform, Service), By Application(Infrastructure Management, Application Performance Analysis) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2213 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
64 |
Figures:
75
Global Artificial Intelligence for IT Operations Platform Market Insights
Global Artificial Intelligence For IT Operations Platform Market size was valued at USD 8.36 Billion in 2022 and is poised to grow from USD 9.84 Billion in 2023 to USD 36.24 Billion by 2031, at a CAGR of 17.70% during the forecast period (2024-2031).
Advancements in artificial intelligence (AI) technology and growing complexity of IT infrastructure are projected to be key factors driving artificial intelligence for IT operations platform market growth in the future. Rising focus on enhancing the efficiency and productivity of IT operations in different industry verticals is estimated to promote the adoption of artificial intelligence for IT operations platforms over the coming years.
Leveraging machine learning and AI technologies these innovative platforms are capable of analyzing huge volumes of data and providing meaningful insights from the same in a short timeframe. These insights help companies detect issues, identify patterns, and potentially eliminate issues before they are developed to improve productivity and reduce downtime. The productivity of IT teams can be enhanced exponentially by the deployment of artificial intelligence for IT operations platforms.
Expanding volume of data generated by complex IT systems, high demand for quick troubleshooting, and growing focus on IT security are other prospects that promote market growth. The rising popularity of cloud computing and robust digitization has bolstered the importance of IT infrastructure and this is slated to positively impact artificial intelligence for IT operations platform demand.
Artificial intelligence platforms are becoming essential for IT infrastructure as more and more companies across the world opt for these solutions. Integration of predictive analytics with these platforms is also a key trend that companies might want to focus on in the long run.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Platform
Fastest Growth
Platform
Growth Rate
17.70% CAGR
Global Artificial Intelligence for IT Operations Platform Market ($ Bn)
Country Share for North America Region (%)
Global Artificial Intelligence for IT Operations Platform Market By Offering ($ Bn)
Global Artificial Intelligence for IT Operations Platform Market By Offering (%)
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Global Artificial Intelligence for IT Operations Platform Market Segmental Analysis
The Global Artificial Intelligence for IT Operations Platform Market is segmented on the basis of Offering, Application, Deployment Mode, Organization Size, Vertical, and Regional. Based on Offering, the market is bifurcated into Platforms and Services. In terms of Application, the market is segmented into Infrastructure Management, Application Performance Analysis, Real-Time Analytics, Network & Security Management, and Others. On the basis of Deployment Mode, the market is divided into, Cloud and On-premise. Based on Organization Size, the market is segmented into SMEs and Large Enterprises. In terms of Vertical, the market is bifurcated into BFSI, Healthcare & Life Sciences, Retail & E-commerce, IT & Telecom, Energy & Utilities, Government & Public Sector, Media & Entertainment, and Others. On a regional level, the market is divided into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis By Offering
The platform segment accounts for a dominant share of the global artificial intelligence for IT operations platform marketplace at present. AIOps platforms are the foundational block of implementation of AI-driven IT operation solutions by providing facilities such as automation and data analysis along with data collection. Platforms are essential to integrate with any kind of IT system or infrastructure to allow access to data. AIOps platforms are continually improving their capability by integrating other advanced technologies that could further enhance the productivity of IT operations.
Effective use of AIOps platforms necessitates the demand for services and this is why it is projected to emerge as the fastest-growing segment in the global marketplace over the coming years. Companies that lack in-house expertise or don’t have the resources to service their AIOps platform are projected to boost demand for AIOps services in the future. Small and medium enterprises are estimated to significantly contribute to the growth in this segment going forward. Efforts of organizations to harness the full potential of AIOps platforms will lead to increased demand for AIOps services across the forecast period and beyond.
Analysis By Application
The increasing complexity of IT infrastructure allows infrastructure management applications to account for a significant artificial intelligence for IT operations platform market share. Monitoring and optimization of IT infrastructure comes under infrastructure management and this involves an enterprise’s storage, network, and servers. Automated insights provided by artificial intelligence for IT operations platforms allow the IT team to enhance the performance of their IT infrastructure by facilitating proactive maintenance and reducing downtime.
Meanwhile, the real-time analytics segment is anticipated to emerge as the fastest-growing segment in the global artificial intelligence for IT operations platform market. AIOps platforms that provide real-time analytics will be preferred in the future as they allow IT teams to instantly monitor IT operations and fix potential issues in real-time, which in turn, boosts overall productivity. The increasing need for data-driven decisions to stay competitive and ahead of other businesses is slated to boost demand for real-time analytics over the coming years.
Global Artificial Intelligence for IT Operations Platform Market By Offering, 2022 (%)
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Global Artificial Intelligence for IT Operations Platform Market Regional Insights
The high concentration of technology companies in the North American region allows it to account for a dominant share of the global artificial intelligence for IT operations platform market. Rapid adoption of advanced technologies makes the United States a highly opportune space in this region. Rising focus on enhancing the overall productivity and efficiency of businesses and the rising integration of digital solutions are promoting the uptake of artificial intelligence for IT operations platforms in this region. High focus on cybersecurity and the rising incidence of cyberattacks is also favoring artificial intelligence for IT operations platform demand in this region.
Financial and technology sectors in Europe have been leading the demand for artificial intelligence for IT operations platforms and this has made it the second-largest regional market in the world. The rising use of AIOps platforms to manage complex IT infrastructure and the launch of several digital transformation initiatives in this region are slated to boost market growth in the future. The United Kingdom and Germany are slated to be top markets for artificial intelligence for IT operations platform providers in Europe going forward
Global Artificial Intelligence for IT Operations Platform Market By Geography, 2024-2031
- Largest
- Fastest
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Global Artificial Intelligence for IT Operations Platform Market Dynamics
Drivers
Complex IT Environments:
- Increasing complexity of IT infrastructure in different organizations owing to the rising number of interconnected networks and systems is driving up the demand for AI-powered IT operations solutions to efficiently manage, monitor, and safeguard IT platforms.
Data Explosion:
- The amount of data being generated by massive and complex IT infrastructure needs to be managed and analyzed to detect issues and troubleshoot them. Integration of artificial intelligence allows IT operation officials to make informed decisions with better insights from heaps of data that enterprises generate.
Restraints
Integration Challenges:
- Integrating an AIOps platform with any kind of IT system or infrastructure is an extremely complex task and requires a lot of time to do it correctly. This also increases the cost of deployment and thereby slows down market growth.
Data Privacy and Security:
- AI operations platforms manage and handle sensitive IT data of organizations and the security of this data is of the utmost importance. The inability to comply with data security and confidentiality regulations could lead to limited adoption of artificial intelligence for IT operations platforms and hamper market growth in the long run.
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Global Artificial Intelligence for IT Operations Platform Market Competitive Landscape
Strategic acquisitions and continual innovation have allowed established artificial intelligence for IT operations platform market players to account for a prominent market share and this has also contributed to the highly competitive nature of this marketplace. Collaborations and partnerships are also influential strategies that are being adopted by different artificial intelligence for IT operations platform providers to improve their business reach and revenue generation potential. Integration of predictive analytics and machine learning is also estimated to be a key trend that new as well as established artificial intelligence for IT operations platform companies will focus on going forward. Market players will be focusing on providing a complete IT operations platform that can manage monitoring, troubleshooting, and data security as well. Growing digitization and the increasing complexity of IT infrastructure in different industries will further open up new avenues of opportunities for artificial intelligence for IT operations platform companies in the long run.
Top Player’s Company Profile
- IBM Corporation
- Sumo Logic Inc.
- Splunk Inc.
- Evolven Software
- AppDynamics (Cisco)
- ScienceLogic Inc.
- Broadcom Inc.
- Zenoss Inc.
- New Relic Inc.
- LogicMonitor Inc.
- Resolve Systems LLC
- OpsRamp Inc.
- Ayehu Software Technologies Ltd.
- Loom Systems
- BigPanda Inc.
- Dynatrace LLC
- CloudFabrix Software Inc.
- Micro Focus International
- Moogsoft Inc.
- Nexthink S.A.
Recent Developments
- A new AIOps platform that utilizes machine learning to help automate IT operations and tasks was launched by Dynatrace in January 2023.
- In September 2023, Cisco, a leading digital technology company, announced that it entered into a definitive agreement to acquire Splunk for a sum of USD 28 billion. This acquisition was intended to help Cisco bolster its AIOps and provide better digital resilience solutions for its clients.
- In May 2023, IBM, a renowned American technology organization, announced the launch of a new AI and data platform for enterprises. IBM watson is projected to help improve IT operations by deploying different AI models to enhance efficiency.
Global Artificial Intelligence for IT Operations Platform Key Market Trends
- Adoption of Machine Learning and Predictive Analytics: Artificial intelligence operations platforms are focusing on utilizing machine learning and predictive analytics technologies to help improve enterprise operations. The integration of these advanced technologies will improve IT performance and even help in reducing downtime.
- Integration with DevOps Practices: Modern AIOps platforms are combining IT operations and DevOps to identify and resolve issues in real-time allowing organizations to improve their IT operations productivity.
Global Artificial Intelligence for IT Operations Platform Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component type’s team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, the growing complexity of IT infrastructure and systems around the world is slated to primarily boost demand for artificial intelligence for IT operations platforms across the forecast period. Advancements in artificial intelligence technology and the growing digitization of different businesses are also slated to favor market growth in the future. Rising investments in boosting the productivity of organizations are also slated to bolster the adoption of AIOps platforms. However, the time-consuming nature of AIOps platform integration and data privacy issues associated with it are projected to be key constraints hindering market growth prospects. North America accounts for a significant share of the global artificial intelligence for IT operations platform marketplace and is estimated to hold this stance through 2030. The presence of key technology companies and the rising adoption of AI technology are slated to make this region a highly lucrative one for artificial intelligence for IT operations platform market players. artificial intelligence for IT operations platform providers should focus on innovation and collaboration to stand out in the highly competitive marketplace. Growing digital transformation and the rising popularity of predictive analytics are slated to offer money making opportunities for artificial intelligence for IT operations platform companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.36 Billion |
| Market size value in 2031 | USD 36.24 Billion |
| Growth Rate | 17.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Artificial Intelligence for IT Operations Platform Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Artificial Intelligence for IT Operations Platform Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Artificial Intelligence for IT Operations Platform Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Artificial Intelligence for IT Operations Platform Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Artificial Intelligence for IT Operations Platform Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Artificial Intelligence for IT Operations Platform Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Artificial Intelligence for IT Operations Platform Market Report Snapshots
- Global Artificial Intelligence for IT Operations Platform Companies
- Global Artificial Intelligence for IT Operations Platform Market Size
- Global Artificial Intelligence for IT Operations Platform Market Analysis
- Global Artificial Intelligence for IT Operations Platform Geographic Analysis
- Global Artificial Intelligence for IT Operations Platform Market News
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