Global AIOps Platform Market Forecast to 2023 with IBM, CA Technologies, Micro Focus, VMware, Splunk, HCL, AppDynamics, MoogSoft, BMC Software, FixStream, and Correlsense Dominating

Dublin, Dec. 20, 2018 (GLOBE NEWSWIRE) -- The "AIOps Platform Market by Component, Service (Implementation, Consulting, and Managed Services), Application (Real-time Analytics, Infrastructure Management, and Application Performance Management), Vertical, and Region - Global Forecast to 2023" report has been added to's offering.

The global AIOps market size is expected 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.

Major growth factors for the market include the growing demand for AI-based services in IT operations, increasing shift of organizations' core business toward the cloud, and increasing end-to-end business application assurance and uptime. In addition, increasing investments in the AIOps technology is also a key growth factor for the market. However, lack of skilled professionals may restrain the market growth.

Platforms segment is expected to have the largest market size during the forecast period

AIOps platform encompasses a combination of various AI strategies including data output, aggregation, analytics, algorithms, automation and orchestration, ML, and visualization. These platforms enable the use of multiple sources of data, data collection methods, and analytical and presentation technologies. The platform provides multiple IT operations disciplines with advanced analytical capabilities directly and indirectly. The platform is centralized and flexible, and helps to deliver data insights continuously provided by automated algorithmic ML capability analyzing unprecedented amounts of data. To use these technologies, AIOps platforms contain multiple layers that address different functionalities, such as data collection and storage, analytical tools, visualization, and integrations with other applications and services.

Managed service in the services segment is expected to grow at a higher CAGR during the forecast period

Managed services offerings have been evolved, owing to technological advancements, such as AIOps applications which allow IT professionals to operate beyond the usual specialized scenarios and expand into 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. MSPs manage and assume full responsibility for offering a defined set of services to their clients.

North America is expected to hold the largest market size and Asia Pacific is projected to grow at the highest rate during the forecast period

North America is expected to have the largest market size in the global AIOps platform market, as developed economies in the region are investing heavily in R&D activities. The continued spread of digital transformation across industries and growing convergence of different technologies, such as AI, ML, big data, and analytics have created an impact in the region and led to an increase in IT budget.

Additionally, to meet the demands of AI-powered solutions, the region's tech giants, such as IBM, BMC Software, CA Technologies, VMware, and Splunk, are focusing on delivering AI-powered services to help their customers in building intelligent applications. For instance, BMC Software partnered with IBM to integrate ML, predictive capabilities, and AI from IBM Watson into BMC's leading IT service management solutions. Growing government initiatives in the region are also boosting the AIOps platform market growth. They are enhancing the existing IT infrastructure by launching programs, such as National Artificial Intelligence Research and Development and smart city programs.

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, as the region is witnessing dynamic changes in the adoption of automation in various activities across verticals. The demand for AI-powered solutions and services is growing across the region, due to the rapid generation of large volumes of data owing to the growing use of digital technologies, IoT, and connected devices. AI-powered solutions and services, such as ML, drive innovations in the realm of data analytics and address gaps related to the previously used tools. This boosts the confidence of enterprises in the APAC region to adopt big data technologies.

The AIOps platform market includes major vendors, such as IBM (US), CA Technologies (US), Micro Focus (UK), VMware (US), Splunk (US), HCL (India), AppDynamics (US), MoogSoft (US), BMC Software (US), FixStream (US), and Correlsense (Israel).

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the AIOps Platform Market
4.2 Market Top 3 Services and Regions
4.3 Market By Component, 2018
4.4 Market By Organization Size, 2018
4.5 Market By Region, 2018-2023
4.6 Market Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Growing Demand of Ai-Based Services for IT Operations Increasing Shift of Organizations' Core Business Toward Cloud Increasing End-To-End Business Application Assurance and Uptime
5.2.2 Restraints Lack of Skilled Professionals
5.2.3 Opportunities Exponentially Growing Data Rising Need of Businesses for Holistic 360 Visibility Increasing Investments in the AIOps Technology
5.2.4 Challenges Growing Complexities and Dynamic Nature of the IT Architecture Increasing Number of Changes in IT Operations
5.3 Technological Trends
5.3.1 Machine Learning
5.3.2 Big Data Analytics
5.4 Use Cases

6 AIOps Platform Market, By Component
6.1 Introduction
6.2 Platform
6.3 Services

7 Market By Service
7.1 Introduction
7.2 Implementation Services
7.3 License and Maintenance Services
7.4 Training and Education Services
7.5 Consulting Services
7.6 Managed Services

8 Market By Application
8.1 Introduction
8.2 Real-Time Analytics
8.3 Application Performance Management
8.4 Infrastructure Management
8.5 Network and Security Management
8.6 Others

9 AIOps Platform Market, By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Market By Deployment
10.1 Introduction
10.2 On-Premises
10.3 Cloud

11 AIOps Platform Market, By Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Healthcare and Life Sciences
11.4 Retail and Consumer Goods
11.5 IT and Telecom
11.6 Government
11.7 Manufacturing
11.8 Media and Entertainment
11.9 Others

12 AIOps Platform Market, By Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Rest of the World

13 Competitive Landscape
13.1 Overview
13.2 Market Ranking
13.3 Competitive Scenario
13.3.1 New Product Launches and Product Enhancements
13.3.2 Partnerships, Collaborations, and Agreements
13.3.3 Mergers and Acquisitions

14 Company Profiles
14.1 IBM
14.2 Splunk
14.3 CA Technologies
14.4 VMware
14.5 Micro Focus
14.6 HCL Technologies
14.7 AppDynamics
14.8 BMC Software
14.9 Moogsoft
14.10 FixStream
14.11 Key Innovators
14.11.1 Correlsense
14.11.2 AIMS Innovation
14.11.3 Corvil
14.11.4 ExtraHop
14.11.5 Devo
14.11.6 Tech Mahindra
14.11.7 ITRS
14.11.8 Loom Systems
14.11.9 Interlink Software
14.11.10 Grok
14.11.11 CloudFabrix
14.11.12 Dynatrace
14.11.14 Appnomic Systems
14.11.15 OpsDataStore
14.11.16 GAVS Technologies

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