Artificial Intelligence in IT Operations (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 Enterpr

Artificial Intelligence in IT Operations (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, and Others), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 - 2032

Global Artificial Intelligence in IT Operations (AIOps) Market is slated to grow substantially through 2032, owing to a paradigm shift to cloud solutions by enterprises. The AIOps’ stellar demand can be attributed to AI’s ability to perform anomaly detection, root cause diagnostics, predictive maintenance, closed-loop issue remediations, and critical functions in complex cloud environments. According to a report, 40% of all business workloads will be transferred to cloud infrastructure and platform services by 2023.

Besides, key market operators are seeking to gain a better foothold in the AIOps market by expanding their portfolios. To cite an instance, in March 2022, Deloitte introduced its AIOPS.D. As per reports, the AI-based business platform will be able to manage and execute core business processes, which will enable business enterprises to deliver their work effectively.

Overall, the artificial intelligence in IT Operations (AIOps) market is segmented on the basis of component, solution, service, deployment model, enterprise size, application, end user, and region.

Based on the component, the service segment is set to witness massive growth in the next ten years, owing to the increasing adoption of cloud computing, which will support the demand for managed services. Besides, the emergence of PaaS and SaaS will also contribute to the market growth.

In terms of service, the market is likely to be characterized by the managed services segment, which will grow at approximately 29.5% CAGR between 2023 and 2032. Since managed AIOps services help firms eliminate endpoint-generated threats, these are being increasingly adopted by organisations, fueling the market demand through the coming years.

On the basis of the deployment model, the on-premise segment will grow significantly through 2032. As AIOps can be controlled and managed on the premise and carried out by in-house resources, this allows organizations to customize their solutions, which will result in the segmental expansion.

In the context of enterprise size, the SMEs segment is set to register solid growth over the next decade, as the leading SMEs that are operating in the market are increasingly offering their services and solutions to market leaders. Besides, the SMEs which were established in the cloud and need to create and deploy software, are also adopting AIOps to improve their digital services.

AIOPs is expected to foresee extensive application for application performance management across different enterprises. The technology leverages artificial intelligence to make IT operations management easy and automate problem resolution in highly complex modern-day IT environments.

In the regional context, the AIOps market will grow significantly in North America, where it held 42% market share in 2022. More enterprises are focusing on monitoring tools to cater to the increasing demand for data capture, and this trend will continue to bolster the regional market through 2032. In addition, the growing prominence of leading industry giants in the continent would further stimulate the market scenario in the coming years.