DUBLIN--(BUSINESS WIRE)--The "Global AIOps Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Global AIOps Market is expected to register a CAGR of 27% during the forecast period 2019-2024.
- With AIOps gaining traction in the market due to its ability to provide real-time data by eliminating silos, better tracking, and management, automated problem solving, and also helps in digital conversion IT organizations have started the implementation of AIOps which is expected to boost the market growth over the forecast period.
- According to OpsRamp, a leading service-centric AIOps platform provider has revealed that AIOps tools are successful in delivering value for 87% of organizations. With the technology growing at a greater pace, the IT industry is poised to see the further deployment of AIOps.
- Some of the prominent players in the market are entering into strategic partnerships to further the technology which would not only augment the organization's efforts in providing better customer experience but also help them gain a stronger footprint. This, in turn, would fuel the demand for the AIOps in the market over the forecast period.
- For instance, in June 2019, Wipro Limited announced a partnership with Moogsoft, a pioneer and leading provider of artificial intelligence for IT operations (AIOps), to deliver next-generation artificial intelligence for IT operations solutions for its customers.
- The rising trend for timely problem identification by analyzing the infrastructure behavior coupled with the increasing digitization and cloud migration is expected to drive the growth of the market over the forecast period.
- In June 2019, BMC announced an update for its TrueSight portfolio to help IT-teams more easily extend and adopt the value for AIOps both on-premise and cloud throughout the organizations.
Scope of the Report
This report segments the market by Type (Solution, Service), Deployment (On-premises, Cloud), End-user Industry (Media and Entertainment, IT and Telecom, Retail, Healthcare, BFSI) and Geography.
Key Market Trends
BFSI is Expected to Hold Significant Share
- Banking operations include many periodic and aperiodic activities and transactions performed by employees, customers and external agencies. Thes activities are complex which makes its monitoring essential. With AIOps delivering realtime information, automated problem solving amongst others, it is expected to boost the market growth over the forecast period.
- The AIOps platform from CA technologies, i.e. CA Digital Experience Insights, enables the financial firms in solving complex IT problems, including performance, capacity and configuration issues.
- According to the RBI, the share of electronic transactions in the total volume of retail payments increased from 88.9% in 2016-2017 to 92.6% in 2017-2018. With the advent of the third-party payments app coupled with the banks moving towards digitizing the banking services is expected to fuel the demand for the AIOps over the forecast period.
- Thefts related to the payments in the banking sector are prominent which is propelling the banking and financial institutions to look for solutions that would enable them to better serve their end-users. This presents the AIOps providers with a potential opportunity which would boost the growth of the market over the forecast period.
North America is Expected to the Hold Largest Share
- The region is home to some of the major players in the IT industry such as the IBM, Google, Microsoft which are continuously investing in the building up and advancing their IT infrastructure to keep pace with the technological advancements. This is expected to boost the adoption of the AIOps over the forecast period.
- For instance, in January 2018 Google announced its plans to invest USD 30 billion dollars for infrastructure development.
- Some of the prominent players in the region through strategic partnerships, mergers & acquisitions and research & development activities are trying to augment their efforts in furthering the technology that would result in the increased adoption of AIOps over the forecast period.
- In February 2019, New Relic announced the acquisition of SignifAI, an event-intelligence company to advance AIOps.
The competitive rivalry amongst the players in the market is high owing to the presence of some key players such as IBM, HCL, Tech Mahindra amongst others. The ability to continually innovate their products and services has allowed them to gain a competitive advantage over other players in the market. Through strategic partnerships, mergers & acquisition and research and development activities these players have been able to attain a greater market footprint.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Introduction to Market Drivers & Restraints
4.4 Market Drivers
4.4.1 Increasing Adoption of Cloud
4.4.2 Increasing Demand for AI-based Services for IT Operations
4.5 Market Restraints
4.5.1 Lack of Skilled Labor
5. MARKET SEGMENTATION
5.1 By Type
5.2 By Deployment
5.3 By End-user Industry
5.3.1 Media & Entertainment
5.3.2 IT & Telecom
5.3.5 Other End-user Industries
5.4.1 North America
5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Splunk Inc.
6.1.2 IBM Corporation
6.1.3 Broadcom Inc.
6.1.4 Micro Focus International PLC
6.1.5 HCL Technologies Ltd.
6.1.6 AppDynamics LLC (CISCO Systems)
6.1.7 BMC Software Inc. (Kohlberg Kravis Roberts & Co. L.P.)
6.1.8 Moogsoft Inc.
6.1.9 GAVS Technology Inc.
6.1.10 ITRS Group Ltd.
6.1.11 CloudfabriX Software Inc.
List Not Exhaustive...
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/feb2vg