Home > Sustainable & Smart Technologies > Artificial Intelligence in IT Operations (AIOps) Market
Industry Statistics
AIOps Market size surpassed USD 3 billion in 2022 and is poised to grow at more than 27% CAGR from 2023 to 2032 owing to the rising demand for AI-based services for IT operations.
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The increasing rate of cybercrimes, such as phishing, hacking, online identity theft and ransomware attacks, leading to business interruptions and financial losses globally has raised alarms for many organizations regarding the security of their information. According to a January 2022 report, 2021 witnessed a 50% rise in cyber-attacks per week on corporate networks compared to 2020. Additionally, the growing adoption of automation technologies in businesses even at small levels is increasing the deployment of AI-based platforms that are speculated to bolster the AIOps market growth.
Complexities and dynamic nature of the IT architecture may impede product penetration
IT architecture involves several components and with increasing technological developments, the structural complexities increase. This rise in complexity significantly impacts the manageability, availability and operational costs. Additionally, complex IT architectures result in unpredictable changes, expensive operations & challenging management. The complexity cannot be eliminated, but it can be managed with the right management team, internal cultures, technologies, along with investments in advanced IT components. Subsequently, widespread deployment of these solutions by manufacturers is foreseen to enable them to tackle the constraint in the future.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | 3 Billion (USD) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 27% |
| 2032 Value Projection: | 38 Billion (USD) |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 486 |
| Segments covered: | Component, Deployment Model, Enterprise Size, Application, End-user, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Mounting uptake by retailers for customer management to fuel solution segment expansion
The AIOps market share from the solution component is expected to depict a more than 26.5% growth rate during 2023-2032. Retailers are increasingly implementing AI solutions to enhance customer loyalty through highly relevant and customized offers by leveraging customer management to extract useful information from consumer data, which is likely to create lucrative business opportunities by 2032.
Increasing focus on partnership agreements with IT service providers to foster demand for domain agnostic AIOps solutions
The domain agnostic AIOps solution type held more than 50% share in 2022 and is expected to grow significantly by end of 2032. The surging focus of key participants on partnership agreements with IT services providers to offer sustainable solutions to their customers, is likely to accelerate the demand for these solutions.
Rising adoption of cloud deployment models to supplement industry expansion
The cloud deployment model is anticipated to observe 28.5% growth between 2023 and 2032 due to its high adoption rate. The growing preference of companies for cloud deployment models as they reduce the complexity of managing traditional IT systems, which offers financial advantages and allows businesses to improve their core competencies, is a major factor driving the segment outlook.
Emerging BYOD trend to complement development of large enterprises segment development
The large enterprises type held over 65.5% share of the artificial intelligence in IT operations market in 2022 and is speculated to expand substantially by 2032 because of the exponentially rising espousal rate of AIOps solutions in these enterprises in light of the growing trend of Bring Your Own Devices (BYOD) among businesses. Moreover, the development of IoT-connected devices has liberated employees from their desks and granted them the ability to work remotely, contributing to industry expansion.
Rising prominence in decision-making to boost real-time analytics sector
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The real-time analytics industry is poised to attain 29% gains through 2032. AIOps generates in-the-moment insights into system performance concerning the safety of IT infrastructure. This factor has sparked a steady global trend of businesses turning to AI to make decisions rather than relying on humans and to enable IT teams to act immediately, which is slated to support revenues.
Use of AIOps platforms by retail and e-commerce sector
The AIOps market from the retail end-use segment is poised to showcase 28% growth through 2032. The escalating demand for AIOps platforms to help the retail and e-commerce industries strengthen their online payment, identity verification, and data protection systems is likely to stimulate industry development. A notable surge in online purchases of goods and services is also foreseen to foster segmental outlook.
Expanding ICT sector to augment Europe industry
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The Europe AIOps market held a sizable stake in 2022 and is expected to witness robust growth at more than 26% rate between 2023 and 2032. The ICT sector in the European Union is proliferating, accounting for roughly half of the EU's productivity. Moreover, the flourishing domestic e-commerce sector is set to propel regional revenues.
Innovative product launches by leading enterprises to define the competitive landscape
The major players in the AIOps business are primarily focused on launching innovative products that meet the needs of various end-users while also addressing security concerns. Some of the key participants in the industry are IBM Corporation, Cisco Systems Inc, Splunk, Dynatrace Inc. Elastic, Broadcom SA, and others.
Impact of the COVID-19 pandemic on AIOps market trends
The adoption of AI technology has exploded since the COVID-19 outbreak. Since the technology has been essential in detecting & diagnosing the virus, forecasting its evolution, and tracking the spread of infections during the crisis, AI has started to play a pivotal role in reducing the effects on the healthcare sector. In addition to the healthcare sector, AI has revolutionized many other sectors to support business resilience by digitizing their products and services to reach their potential customers in all possible ways during the prolonged lockdown to maintain business continuity, which had a positive impact on the AIOps market progress.
This market research report on AIOps includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
Market, By Component
- Solution
- Domain-Agnostic AIOps
- Domain-Centric AIOps
- Service
- Professional Services
- Managed Services
Market, By Deployment Model
- On-premise
- Cloud
Market, By Enterprise Size
- Large Enterprises
- SMEs
Market, By Application
- Infrastructure Management
- Real-Time Analytics
- Network & Security Management
- Application Performance Management
- Others
Market, By End-user
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Government
- Manufacturing
- Media & Entertainment
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Southeast Asia
- South Korea
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Israel
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