The global AIOps platform market is gaining traction, owing the growing demand for AI-based services for IT operations and increasing shift of core business to the cloud. The major growth factors for the market include increasing end-to-end buinsess application assurance and uptime, and exponentially growing data volumes. MarketsandMarkets expected the AIOps platform market size to grow from USD 2.55 billion in 2018 to USD 11.02 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 34.0% during the forecast period.
Major players in the AIOps platform market include IBM (US), CA Technologies (US), Micro Focus (UK), VMware (US), Splunk (US), HCL (India), AppDynamics (US), MoogSoft (US), BMC Software (US), FixStream (US) and Correlsense (Israel). These leading players have adopted various organic and inorganic growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the AIOps platform market.
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IBM is one of the leading players in the AIOps platform market. The company possesses strong and agile partnerships with technology leaders and has a wide clientele base in the regions, such as North America, Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC). IBM partnered with Automation Anywhere, a provider of robotic process automation solutions. The partnership would provide solutions that assist employees with data-intensive and routine tasks. The aim of this partnership is also to make it easy for companies to improve processes for data ingestion. IBM offers its commercial clients with a rich portfolio of AIOps solutions across key business areas. IBM Watson is a platform that integrates technologies and services, and provides machine learning and deep learning to help connect more than 30 types of data, thereby helping reimagine workflows. The company also offers IBM Netcool Operations Insight, an operations analytics platform. It helps in improving the operational efficiency, accelerating problem resolution, and increasing agility to deliver services. IBM provides Automation Platform for Digital Business, an integrated platform of automation capabilities that automates content management, process workflows, business decisions, repetitive human tasks, and data management.
Splunk is another established vendor in the AIOps market. The company offers Splunk Cloud, which helps its clients eliminate the need to manage the IT infrastructure. The platform is used to collect, store, and analyze the data. The company also provides Splunk Enterprise, a machine data platform designed to index, collect, search, report, analyze, monitor, alert, and manage the data. Splunk also offers Splunk Light, offering log search and analysis, and is designed for small IT environments. Splunk’s other solutions include Splunk Enterprise Security, Splunk IT Service Intelligence, and Splunk User Behavior Analytics. Splunk has followed both organic and inorganic growth strategies. For instance, in April 2018, Splunk acquired Phantom Cyber Corporation that offers security orchestration, automation, and response. The acquisition would augment Splunk’s AIOps capabilities. In October 2017, Splunk also acquired SignalSense to further advance its machine learning capabilities and machine data platform.
AIOps Platform Market by Component, Service (Implementation, Consulting, and Managed Services), Application (Real-time Analytics, Infrastructure Management, and Application Performance Management), Vertical, and Region - Global Forecast to 2023
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