NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Zion Market Research has published a new research report titled "Artificial Intelligence For IT Operations (AIOps) Market – By Vertical (BFSI, IT & Telecom, Healthcare & Life Sciences, Media & Entertainment, Retail & Ecommerce, Government & Public Sector, And Energy & Utilities), By Application (Infrastructure Management, Network & Security Management, Application Performance Analysis, And Real-Time Analytics), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2026" According to the report, The global Artificial Intelligence for IT Operations (AIOps) market, which was estimated at about 4.03 USD Billion in 2019 and is predicted to accrue earnings worth 17.2 USD Billion by 2026, is set to record a CAGR of nearly over 32% during 2020-2026.
Artificial intelligence for IT operations tool relates data across network, infrastructure, and myriad applications. Furthermore, it makes use of advanced analytics, automation, and machine learning for delivering higher proportion of visibility as well as data-based recommendations. In addition to this, large-scale utility of online experience monitoring systems by giant firms for detecting infrastructure and various applications will create lucrative growth avenues for artificial intelligence for IT operations (AIOps) industry over the assessment period.
Artificial Intelligence for IT Operations (AIOps) Market: Growth Drivers
AIOps applies advanced analytics & machine learning tools for recognizing patterns in automation data and service desks, thereby driving market trends. In addition to this, artificial intelligence is utilized for IT functions for enhancing performance as well as improving its access on-premises & cloud. Apparently, AI minimizes noise as well as prioritizes critical operations of the firms. All these aforementioned aspects will open new dimensions of growth for artificial intelligence for IT operations (AIOps) market in the forthcoming years.
Moreover, AIOps tools aids DevOps processes along with supporting velocity of app releases. Apart from this, these tools help in accurately identifying issues and predict models as well as estimating workload requirements for resource optimization & cost reduction. This, in turn, will carve a profitable growth graph for artificial intelligence for IT operations (AIOps) market over the forecast timeframe.
North America to Account For Highest Market Share over 2020-2026
The growth of artificial intelligence for IT Operations (AIOps) market in North America is likely to expand leaps & bounds over forecast timeline due to presence of reputed vendors in the sub-continent. In addition to this, many of the tech giants are developing strong AIOps tools for slew of verticals. This will offer new growth avenues for regional market during the predicted timeline.
Key players profiled in the study and influencing the business growth include BMC Software, Inc., Moogsoft, Broadcom, VMare, Inc., AppDynamics, IBM Corporation, Splunk, Inc., and ProphetStor Data Services, Inc.
The global Artificial Intelligence for IT Operations (AIOps) Market is segmented as follows:
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