Revenues from AIOps Platform Market to top 11.02 billion USD by 2023

AIOps platform market categorizes the global market by component, by service, by application as real-time analytics, infrastructure management, and application performance management, by vertical, and by region.

(EMAILWIRE.COM, May 08, 2019 ) The growth of the market is fuelled by growing demand of AI-based services in IT operations, increasing shift of organizations core business toward the cloud, and increasing investments in the AIOps technology. In addition, exponentially growing data volumes and increasing end-to-end business application assurance and uptime are some of the other growth factors for the market.

MarketsandMarkets estimates the global AIOps platform market size to grow from USD 2.55 billion in 2018 to USD 11.02 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 34.0% during the forecast period.

The study measures and evaluates the major offerings and key strategies of the key market vendors, including

• IBM (US)
• CA Technologies (US)
• Micro Focus (UK)
• VMware (US)
• Splunk (US)
• HCL (India)
• AppDynamics (US)
• MoogSoft (US)
• BMC Software (US)
• FixStream (US)
• Correlsense (Israel).
These major companies have been offering reliable AIOps platform to commercial clients across diverse locations.

Managed services offerings have been evolved owing to new technological advancements, such as AIOps applications which allow IT professionals to operate beyond the usual specialized scenarios and expand into today’s more complex and heterogeneous business environments. These services refer to the outsourcing of in-house functionalities, so that they can be managed by third-party Managed Service Providers (MSPs). Managed services include consulting, integration, and maintenance of deployed solutions. An MSP is a third-party contractor who delivers network-based services, applications, and equipment to enterprises, residences, and other service providers.

North America is expected to have the largest market size in the global AIOps platform market. The adoption of AI-powered services is expected to grow in the region, owing to the growing demand for analyzing large volumes of data to enhance the consumer experience. Furthermore, technological advancements, coupled with the increasing need for intelligent business processes and rising adoption of digital technologies across the region, are expected to fuel the growth of the global AIOps platform market. The increasing number of initiatives by governments for enhancing the existing infrastructure is expected to drive the demand for AIOps platforms across the region during the forecast period.

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