Aiops Platform Market Research Report and Outlook by 2028

The market for AIOps platforms is projected to expand significantly, increasing from US$ 2,831.2 million in 2021 to US$ 19,933.5 million by 2028. This growth represents a compound annual growth rate (CAGR) of 32.2% over the period from 2021 to 2028.

The surge in the adoption of Artificial Intelligence for IT Operations (AIOps) is primarily fueled by organizations' need to enhance the speed and agility of their IT infrastructures. AIOps platforms merge human intelligence with automated algorithms, providing users with comprehensive insights into system performance. Utilizing sophisticated machine learning algorithms, these platforms gather critical data in the background and deliver actionable insights, empowering organizations to make informed decisions swiftly and effectively address issues, thereby ensuring seamless IT operations.

AIOps platforms leverage self-learning algorithms, machine learning, and intelligence to automate routine IT tasks. They analyze both behavioral and historical data to detect and forecast potential incidents. The growth of the AIOps platform market is influenced by various factors, including the necessity for resource optimization, the challenge of managing IT data that surpasses human capacity, and the ability of AIOps to integrate various technologies and automate numerous processes, thereby minimizing overhead time. Nonetheless, apprehensions regarding the replacement of traditional methods with modern solutions pose challenges to the expansion of the AIOps platform market. Furthermore, the integration of AIOps with Observability Platforms is another factor contributing to the market's growth.

The deployment of AIOps platforms has enabled the automation of processes that once required human involvement. This shift allows employees to concentrate on essential tasks, optimizing resource utilization, which is crucial when demand surpasses available resources. AIOps also facilitates the integration of diverse technologies and the automation of various procedures, streamlining corporate process automation and reducing overhead time. A survey by Smartsheet indicated that 69% of employees feel that automation reduces downtime, with 59% claiming that automating repetitive tasks could free up over six hours of their week. With global IT organizations operating across multiple regions, AIOps, along with communication tools, simplifies the management of remote teams and projects. Additionally, AIOps enhances HR functions and supports the automation of onboarding processes. According to the Wynhurst Group, a well-structured onboarding program can boost employee retention rates by 58% over three years. Ultimately, an effective AIOps platform not only saves costs but also enhances business operations. By expediting and simplifying tasks, automated business processes enable employees to be more productive, motivated, and engaged in their work. These elements are pivotal in driving the growth of the AIOps platform market.

Effects of the COVID-19 Pandemic on the AIOps Platform Market in Europe
The COVID-19 pandemic significantly impacted the economies of several European nations, including the UK, France, Italy, Spain, and Germany, resulting in business closures, travel restrictions, and disruptions in supply chains. However, a survey conducted by Morning Consult among 500 top decision-makers in the technology sector revealed that 36% of respondents from the UK, France, Germany, Italy, and Spain believed that the pandemic had expedited their companies' adoption of AI technologies. This unexpected shift has positively influenced the market share of AIOps platforms in Europe.

The AIOps platform market can be examined through various segments, including components, deployment methods, organization size, and industry verticals. The component segment consists of platforms and services, with the platform segment leading the market in 2021. The deployment segment is categorized into on-premises and cloud-based solutions, with the cloud-based segment holding a larger market share. Additionally, the market is segmented by organization size into small and medium enterprises and large enterprises, with large enterprises representing a more substantial market share in 2021. Finally, the market can be analyzed by verticals such as Banking, Financial Services, and Insurance (BFSI), IT & telecom, aerospace and defense, government, transportation, and others, with the BFSI segment holding the largest market share in 2021.

Geographically, the AIOps platform market is divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America captured the largest share of the global market.

The size of the AIOps platform market has been determined through a thorough research methodology that includes both primary and secondary sources. Initially, extensive secondary research was conducted using both internal and external sources to gather qualitative and quantitative data related to the market. This process aimed to provide an overview and forecast for the AIOps platform market across all segments and the five major regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

To validate the findings and gain deeper analytical insights, primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the AIOps platform market. This comprehensive research process has yielded a thorough understanding of the AIOps platform market, its trends, opportunities, and challenges, assisting stakeholders in making informed decisions.

Key players in the AIOps platform market include IBM, AppDynamics, BMC Software, Inc., Broadcom Inc., Dynatrace LLC, HCL Technologies Limited, Micro Focus, Moogsoft Inc., Resolve Systems, LLC, BigPanda, and Splunk Inc.