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AIOps Market Size

Report ID: GMI5153
Published Date: Mar 2023
Report Format: PDF

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AIOps Market Size

Artificial Intelligence in IT Operations Market size surpassed USD 3 billion in 2022 and is poised to grow at a CAGR of 27% from 2023 to 2032, owing to the rising demand for Al-based services in IT operations. The market growth is due to the rapid adoption of AI-based platforms across enterprises. IT infrastructure & operation leaders are planning for a post-COVID-19 environment by deploying AIOps to enable task automation, knowledge management, and change analysis. Also, enterprises are adopting AIOp platforms to compete with and replace some traditional monitoring tool categories.

Artificial Intelligence for IT operations (AIOps) Market

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Organizations of all sizes & types, ranging from start-ups to multinational corporations, government agencies, and non-profit organizations are increasingly turning to cloud computing technologies to provide a wide range of services. As core business applications have become more essential than ever, from process planning to customer relationship management, the ability to connect & analyze data in real-time has become increasingly critical for building a smarter business that makes informed decisions and optimizes investments to fund innovations. This growing demand for cloud computing is driving the AIOps market expansion as organizations look to leverage the latest technologies & tools to manage and optimize their cloud-based operations.

Artificial Intelligence in IT Operations Market Report Attributes
Report Attribute	Details
Base Year:	2022
Artificial Intelligence in IT Operations 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:	Growing demand for AI-based services in IT operations Rising affinity of enterprises to shift core business operations to the cloud Increasing end-to-end business application assurance and uptime Rising needs of businesses for holistic 360° visibility into IT operations Surging focus of enterprises on reducing IT capital expenditure
Pitfalls & Challenges:	Growing complexities and dynamic nature of the IT architecture Increasing number of changes in IT operations

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of AIOps exceeded USD 3 billion in 2022 and is poised to grow at more than 27% CAGR from 2023 to 2032 driven by the rising demand for AI-based services for IT operations.

The solution component is expected to register more than 26.5% growth rate during 2023 to 2032 owing to the growing inclination of retailers towards AI solutions for customer management.

The Europe market held a sizable share and is projected to witness steady growth at over 26% CAGR between 2023 and 2032 on account of the growing ICT sector across the European Union.

Some of the key participants in the business scenario are IBM Corporation, Cisco Systems Inc, Splunk, Dynatrace Inc. Elastic, Broadcom SA, Extrahop Networks Inc., Harness Inc., and Logz.io Inc., among others.