Artificial Intelligence for IT Operations Platform Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030
Artificial Intelligence for IT Operations Platform Market: Overview
The artificial intelligence for IT operations platform market is prognosticated to observe extensive growth during the forecast period of 2020-2030. The growing penetration of advanced technologies in the IT sector is expected to bring considerable growth opportunities for the global market.
Artificial intelligence for IT operations, also known as AIOps can be referred to as the application of AI to improve IT operations. AIOps specifically uses analytics, machine learning capabilities, and analytics to collect and aggregate large amounts of operations data generated by numerous IT infrastructure components. It diagnoses the root issues and helps resolve them rapidly with or without human intervention. The benefits etched to the use of artificial intelligence for IT operations will prove to be growth boosters for the global market.
The high adoption of AIOps in the IT sector due to the benefits it provides will serve as a vital growth booster for the artificial intelligence for IT operations platform market. Furthermore, the COVID-19 pandemic is expected to bring considerable growth for the artificial intelligence for IT operations platform market. Due to the fast adoption of remote work mechanisms, a majority of business functions are using AI technologies for convenience. Thus, organizations are planning to invest more in AI during COVID-19, which will serve as a prominent growth booster for the artificial intelligence for IT operations platform market.
The utilization of artificial intelligence in various IT applications such as application performance analysis, infrastructure management, network and security management, real-time analytics, and others will bring considerable growth opportunities. In addition, the use of AIOps in various end-users such as healthcare, life sciences, media and entertainment, BFSI, energy and utilities, retail and e-commerce, and government and public sector will invite profitable growth. These platforms are either deployed through cloud or on-premise.
Artificial Intelligence for IT Operations Platform Market: Competitive Insights
The artificial intelligence for IT operations platform market has numerous players vying to capture a large consumer base. Research and development activities form an important part of the artificial intelligence for IT operations platform market growth trajectory. Many new features and upgrades through these activities serve as revenue magnets for the players. An increase in the revenues results in adding value to the artificial intelligence for IT operations platform market growth structure.
Strategic collaborations such as mergers, acquisitions, joint ventures, and partnerships are crucial for the overall growth of the artificial intelligence for IT operations platform market. The players indulge in these activities for cementing their foothold in the artificial intelligence for IT operations platform market. These collaborations eventually increase the growth rate of the artificial intelligence for IT operations platform market to a substantial extent.
Some well-established players in the artificial intelligence for IT operations platform market are International Business Machines Corporation, Resolve Systems ProphetStor Data Services, Inc., HCL Technologies Limited, AppDynamics, Moogsoft, Broadcom, and BMC Software, Inc.
Artificial Intelligence for IT Operations Platform Market: Notable Developments
The artificial intelligence for IT operations platform market is filled with the latest developments. Some of the vital developments in the artificial intelligence for IT operations platform market are as follows:
Such developments bode well for the growth of the artificial intelligence for IT operations platform market.
Artificial Intelligence for IT Operations Platform Market: Regional Dimensions
North America’s artificial intelligence for IT operations platform market is expected to witness a dominating position during the forecast period of 2020-2030. High presence of various AIOps platform vendors in the region is expected to serve as a growth booster for the artificial intelligence for IT operations platform market in North America. The growing awareness about artificial intelligence for IT operations platforms in the Asia Pacific will enable it to observe rapid growth.
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