Artificial Intelligence For IT Operations Platform Market Size, Share & Trends Analysis Report By Offering, By Application, By Deployment Mode, By Organization Size, By Vertical, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global artificial intelligence for IT operations platform market size was valued at USD 7.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.7% from 2022 to 2030. Artificial intelligence for IT operations (AIOps) platform refers to the AI platform for IT operations. It combines human intelligence with automated algorithms to provide full visibility into the performance of IT systems. The key factor driving the adoption of AIOps in the IT environment is the fulfillment of adequate speed and agility, required for the business.

Also, advanced machine learning algorithms capture the useful information running in the background to provide actionable insights. For instance, in October 2021, BMC, a global leader in software solutions, announced several new Control-M innovations and BMC Helix, which enabled enterprises to gain more value-added insights, provide better service to the customers, and increase resilience as well as agility. This is extending data science in the enterprise.

Recent technological advancements have paved the way for AI in IT operations. Several companies are adopting the connection of knowledge, Natural Language Processing (NLP), and domain-enriched Machine Learning (ML) techniques, to offer improved AIOps platforms and services. For instance, in February 2021, for self-driving cars, several elements were identified, analyzed, and acknowledged, simultaneously. Deep learning algorithms are applied to assist self-driving cars in contextualizing information picked up by their sensors, such as speed of movement, the distance from other objects, and a prediction of where they will be in 5-10 seconds.

AIOps platform uses intelligence and self-learning algorithms, backed by ML to automate regular IT tasks. It also detects and anticipates any possible events via historical and behavioral data analysis. Moreover, it provides a cognitive analysis of data by leveraging big data analytics and derives meaningful information from data for comprehensive processing. The integration of IT operations with AI ensures real-time data correlation, multi-dimensional data normalization, severity-based incident prioritizing, and predefined response plans to mitigate future events.

This ability to derive actionable insights from scratch data helps build a responsive ITOps infrastructure. For instance, in March 2022, TSB Bank plc, a retail and commercial bank based in the United Kingdom, is leveraging the Dynatrace platform to speed up innovation as it extends digital offerings for its clients.

The COVID-19 outbreak is expected to stimulate the market growth of next-generation tech domains, including artificial intelligence, owing to the mandated work-from-home policy. For instance, LogMeIn, Inc. (U.S.), a cloud and SaaS-based remote connectivity and customer engagement services provider, has realized a significant increase in new sign-ups across its all-service portfolios, amid the outbreak.

Additionally, enterprise IT workers increasingly depend on commercial AIOps solutions to keep their computing systems running smoothly despite technical workforce issues during the pandemic. For instance, in January 2021, IBM and other major IT suppliers have made AIOps a critical thread for connecting their disparate platforms and capabilities. In fact, for multi-cloud management tool suppliers, AI-driven IT service management is making a significant difference.

Offering Insights

The platform offering segment led the Artificial Intelligence for IT Operations (AIOps) platform market in 2021, accounting for over 85.0% share of the global revenue. AIOps vendors deliver reliable, responsive, and innovative platform experiences for business organizations to gain a competitive edge in the market. This high market share can be attributed to its business benefits, such as better decision-making, faster digital transformation, efficient data processing, and cohesive agility. Automation is a crucial component fueling the demand for AIOps platforms in organizations.

Besides, it enables the deployment of correlation analytics, which helps identify the root cause of the issues taking place in IT infrastructure and fix them as required. For instance, in February 2022, MetTel, a global leader in digital transformation and communications, announced it would provide customers with a managed secure access service edge solution, driven by VMware SASE. IT firms will deploy networking, cloud-based security, and edge compute capabilities to applications, running at the edge more efficiently thanks to the SASE solution.

Several companies offer AI technology for different IT applications, such as real-time analytics, infrastructure management, and network management. For instance, in June 2021, Dynatrace, a well-known application performance monitoring (APM) provider, and another publicly traded company that focuses on various IT solutions ranging from application and micro-services support to application security. The company provides automated AIOps solutions including Davis, an assistant that analyses dependencies and events using open APIs and AI, recognizes IT problems, and performs root cause analysis.

Application Insights

The real-time analytics application segment led the market in 2021, accounting for over 30.0% share of the global revenue. The manufacturing industry is leveraging real-time analytics in terms of production quality (vendor quality, data accuracy, and cost overruns), lead times (cycle time and customer service time), delivery reliability (schedule adherence and vendor delivery performance), along with costs (waste rates, inventory turns, system complexity, and overhead efficiency).

The high share can be attributed to the increasing penetration of real-time leader boards among businesses to build competitive intelligence. In addition, real-time analytics provides organizations with a data-driven approach for identifying, prioritizing, diagnosing, and resolving events or issues. For instance, in October 2021, Moogsoft, one of the market leaders in AIOps solutions that enable IT, teams to work more efficiently and effectively, provided DevOps teams and SREs with real-time visibility into IT issues, allowing them to detect, diagnose, and remediate incidents before negatively impacting the customer experience.  

The infrastructure management application segment is anticipated to witness substantial growth over the forecast period. This growth can be attributed to the fast-gained acceptance of AI across heavy IT infrastructure workloads. For instance, in January 2021, BMC Software, Inc., a U.S.-based multinational information technology services and consulting firm, offers a wide range of traditional cloud and IT operations solutions to primarily large enterprises. TrueSight Infrastructure Management, a software solution from the company, combines infrastructure monitoring, incident management, and operational analytics to give IT teams a centralized view of IT infrastructures.

Deployment Mode Insights

The on-premises deployment model segment led the market in 2021, accounting for over 65.0% of the global revenue share. Organizations mostly prefer deploying AI models on-premises owing to the risk associated with public cloud deployment. This high share can be attributed to enhanced security and privacy, provided by on-premise solutions in IT operations. These solutions also incorporate edge analytics that minimizes the bandwidth requirement.

The integration of AIOps solutions across premises brings improved speed and reliability in results. For instance, in April 2021, Broadcom Inc. and Google Cloud announced a strategic partnership to strengthen cloud services integration and accelerate innovation across Broadcom's core software franchises. Furthermore, while Broadcom's migration to Google Cloud began with its security software, the company intends to migrate other applications as well, including AIOps. This collaboration will allow Broadcom to leverage Google Cloud's infrastructure more easily to accelerate development, reduce latency, and scale, allowing it to diversify its public Internet options.

The cloud deployment model segment is anticipated to witness substantial growth over the forecast period. This growth can be accredited to the fact that cloud-based AIOps platforms remove firewall restrictions that can hamper access to an on-premises solution. Cloud-based and SaaS platforms also eliminate overhead and maintenance costs.

Moreover, cloud object storage service offers unlimited virtual storage capacity, which removes the storage volume and scalability restrictions of locally placed hardware. For instance, in October 2021, Extra Hop, the pioneer in cloud-native network detection and response, announced that its Reveal(x) Advisor services had been expanded to include threat detection and hunting as well as network assurance analysis. Threat analysts and security experts are available through Reveal(x).

Organization Size Insights

The large enterprises segment held the largest revenue share of over 70.0% in 2021. Large enterprises are deploying AIOps solutions for different industries, such as media & entertainment. For instance, in June 2020, DataStax announced the release of Astra, a cloud-native Database-as-a-Service (DBaaS) based on the Apache Cassandra database.

Astra provides cloud-native support for Google Kubernetes Engine (GKE) and Amazon Elastic Kubernetes Service (EKS) management planes, based on technologies like Kubernetes, Prometheus, and Envoy. Additionally, higher technological proficiency in large enterprises compared to SMEs promotes the deployment of AIOps platforms and related services to improve IT agility. Large enterprises also leverage AIOps in terms of data enrichment capabilities to keep up with the competition.

The SMEs segment is anticipated to witness substantial growth during the forecast period. This growth can be attributed to the fast-gained acceptance of digital solutions in every industry. Multiple AIOps solutions are being adopted by SMEs to improve their IT infrastructure management. For instance, in January 2021, Amazon Web Services (AWS) announced Amazon DevOps Guru, one of the latest machine learning-driven services. DevOps Guru digs out operational issues, generates reports and notifications, and provides actionable insights and recommendations.

Vertical Insights

The BFSI segment led the market in 2021, accounting for a revenue share of over 18.0%. AIOps technology for securing financial and banking-related data has grown considerably in this sector. AI finds wide applications in banking and financial IT operations, including real-time analytics, solving complex IT issues, banking automation, and enhancing scalability, among other use-cases.

For instance, in February 2021, Relic Explorer, a product created by New Relic, a technology company based in the United States. Its reinvented Full-Stack Observability endure introduces advanced new visualizations and capabilities to provide engineers with unequaled visibility across their entire estate. Engineers can help detect emerging issues and restore systems to full functionality before impacting customers or employees.

Artificial intelligence for IT operations platforms is used to improve IT agility for enterprises with extensive IT infrastructure or architecture and deal with multiple technologies with massive data. Application performance analysis is one of the most used applications in every vertical. For instance, in January 2021, AIOps could determine that an application performance issue is caused by a cyber-attack against the underlying server rather than an IT fault because a hostile hacker exploited an unpatched vulnerability by accessing security data.

In that circumstance, security procedures should be initiated to mount a defense. These would show up as performance concerns in standard tools, and the relationship to security dangers would be missed. This will provide the advantage of using operations as a first line of defense, such as shutting down an infected server or blocking access to a hacked storage system.

Regional Insights

North America dominated the market in 2021, accounting for over 36.0% share of the global revenue. In the U.S., AI-based investment advisory consumer applications are getting traction to improve investment decisions. This can be attributed to the presence of numerous AIOps platform vendors in the region. Several organizations, including tech start-ups and giants, are developing AIOps platforms for different verticals.

The high investments in R&D activities and continued digital transformation in developed economies are also significant factors driving the adoption of AIOps platforms in the region. For instance, in October 2021, Broadcom is a U.S.-based company, specializing in LED technology production. While supplying LEDs and a portfolio of other technology-related products, the company also improves the digital experience through AIOps solutions that provide full-stack observability, actionable insights, and intelligent automation.

Asia Pacific is anticipated to witness significant growth during r the forecast period. This can be attributed to the rapid adoption of automation across various industries in the region. Furthermore, the fast generation of data in large volumes has paved the way for AI-based solutions and services, such as data analytics. For instance, in December 2021, Micro Focus has launched a brand-new software as a service platform that merges SaaS with full-stack AIOps to encourage innovation in the AIOps development process. Micro Focus intends the SaaS platform, termed Operations Bridge, to give a "quick path" to a full-stack AIOps platform by providing observability, problem resolution, automation, and data translation capabilities.

Key Companies & Market Share Insights

The AIOps market vendors are focused on developing cutting-edge platforms, expanding their customer base, and global reach to attain a competitive edge. Along with increasing their offerings based on AIOps products and solutions in various industries including financial services, retail, insurance, government, media & entertainment, and healthcare. Therefore, key players are taking several strategic initiatives, such as partnerships & collaborations, mergers & acquisitions with other key players, and new product or technology development.

For instance, in February 2022, Monq Lab, a Latvian AIops startup, has released a free version of its incident control and automation platform to assist corporations and SMEs with proactive IT system maintenance. The system, based on a topological database and uses machine learning and robust correlation to detect and address impending IT incidents, is officially termed Monq Free Community Edition. It analyses data from various monitoring systems, detects topology automatically, assesses application and infrastructure health, and delivers rapid root cause analysis, allowing enterprises to figure out what's wrong with their IT systems swiftly. Some prominent players in the global artificial intelligence for IT operations platform market include:

• AppDynamics

• BMC Software, Inc. 

• Broadcom

• HCL Technologies Limited

• International Business Machines Corporation

• Micro Focus

• Moogsoft

• ProphetStor Data Services, Inc.

• Resolve Systems

• Splunk Inc.

• VMware, Inc

Artificial Intelligence For IT Operations Platform Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global artificial intelligence for IT operations platform market report based on offering, application, deployment mode, organization size, vertical, and region:

• Offering Outlook (Revenue, USD Million, 2017 - 2030)

  • Platform

  • Service

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Infrastructure Management

  • Application Performance Analysis

  • Real-Time Analytics

  • Network & Security Management

  • Others

• Deployment Mode Outlook (Revenue, USD Million, 2017 - 2030)

  • Cloud

  • On-premise

• Organization Size Outlook (Revenue, USD Million, 2017 - 2030)

  • SMEs

  • Large Enterprises

• Vertical Outlook (Revenue, USD Million, 2017 - 2030)

  • BFSI

  • Healthcare & Life Sciences

  • Retail & E-commerce

  • IT & Telecom

  • Energy & Utilities

  • Government & Public Sector

  • Media & Entertainment

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  •  Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

  • South America

    •  Brazil

  • Middle East and Africa (MEA)