According to the business intelligence report titled ‘AIOps Market Size By Component (Solution [Domain-agnostic AIOps, Domain-centric AIOps], Service [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Infrastructure Management, Real-time Analytics, Network & Security Management, Application Performance Management), By End-use (BFSI, IT & telecom, Healthcare, Retail, Government, Manufacturing, Media & Entertainment), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, the AIOps market is expected to gain considerable traction through 2027.  

Credible findings by expert researchers and analysts cite that increasing prevalence of remote working environments, and burgeoning demand for AI-based services in the IT sector, need to shift core operations on cloud among enterprises are fueling worldwide AIOps market growth. Besides, need for holistic visibility into IT operations, and emphasis on reducing IT capital expenditure are adding momentum to industry expansion.

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For the unversed, AIOps stands for Artificial Intelligence in IT Operations which is an offshoot of AI and conventional IT technologies.

Since the onset of the Covid-19 pandemic, work-from-home has become a norm as a result of lockdown mandates across the world. Consequentially, the market has experienced a massive surge in uptake of AIOps and this trend is expected to continue in the upcoming years. Moreover, the pandemic has compelled several business owners to shift their operations online via mobile apps, further ensuring an upward growth trend in the industry.

Despite the positive industry outlook, the dynamic nature of IT architecture and its complexities may restrict the growth over the evaluation period.

In terms of the application spectrum, global AIOps industry from application performance management sub-segment is likely to register a CAGR of 28.6% through the analysis period creditable to significant utilization of AI technologies in monitoring app performance.

Considering end user scope, government sub-segment is anticipated to exhibit a CAGR of 24.6% over the analysis period on account of increasing adoption of automation by federal organizations to reduce the burden of mundane IT tasks.

Meanwhile, the manufacturing sub-segment is slated to progress at a CAGR of more than 25.6% during the evaluation period, accredited to a gradual shift of major IT operations on cloud.  

From a geographical perspective, Latin America AIOps market is expected to record a strong CAGR of 26% through 2027 due to the rising penetration of software and SME based AI tools in the region.

Meanwhile, the MEA region, which accounted for 5.2% of the overall market share in 2020, is slated to continue this upward growth trend during the analysis period owing to upsurge in IT investments combined with proliferation of AI technology across the landscape.

The competitive framework of this marketplace is majorly influenced by key players such as IBM Corporation, BMC Software Inc., Splunk Inc., Virtana, Sumo Logic, Inc., SlackSlate, Inc., ScienceLogic, OverOps, ExtraHops Networks, Amelia (IPsoft) US LLC, Cisco Systems Inc., Digitate, BigPanda, Elastic NV, Harness Inc., Dynatrance, Inc., and Broadcom Inc among others.