According to our latest market study, titled “AIOps Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by component, deployment, organization size, and Vertical,” the AIOps platform market size is projected to reach US$ 19,933.5 million by 2028 from US$ 2,831.2 million in 2021. It is expected to rise at a CAGR of 32.2% from 2021 to 2028.
Increasing Global Data Driving AIOps Platform Market Growth
According to the annual DataSphere and StorageSphere study, published by International Data Corporation (IDC) in 2021, the quantity of data created, recorded, duplicated, and consumed worldwide increased from 1.2 trillion gigabytes to 59 trillion gigabytes between 2010 and 2020. It is projected to reach more than 180 zettabytes by 2025.
This growth is attributed to the enormous increase in people working, studying, and researching. However, based on the IDC report, only 2% of the data was saved and kept until 2021; the remainder was either produced or copied solely for utilization or cached and overwritten with newer data. As a result, businesses are increasingly turning to automation to manage these massive amounts of data. Digitalization is critical for every firm looking to resume business operations and profit from changing conditions.
Key Players Influencing the Market
- BMC Software, Inc
- Broadcom Inc
- Dynatrace LLC
- HCL Technologies Limited
- Micro Focus
- Moogsoft Inc.
- Resolve Systems, LLC
- Splunk Inc.
Having more data helps the company confirm its product and opens up new revenue streams in its overburdened product portfolios. As a result, AI is projected to play a significant role in bifurcating data and offering profitable insights, propelling the global AIOps platform market share.
AIOps solutions have only recently begun to integrate with observability platforms. This allows IT departments to grasp on company’s data and systems. It enables companies to collect actionable data and improve diagnosis. Observability platforms can also draw diverse data and connect the dots between them by looking at metrics, dependencies, and logs. Customer experience, workforce productivity, and overall digital infrastructure are the three components of the protocol. This methodology gives a better understanding of how the company is performing. Also, IT teams may shorten the time to predict and fix problems by introducing AIOps into observability platforms before affecting organizations. In the future, companies are expected to automatically analyze data streams and turn them into actionable insights in real-time.
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