AIOps Market Size

AIOps Market Analysis

The AIOps Market size is estimated at USD 27.24 billion in 2024, and is expected to reach USD 79.91 billion by 2029, growing at a CAGR of 24.01% during the forecast period (2024-2029).

With the increase in the number of people working from home, enterprise-instituted work-from-home (WFH) policies shifted information security focus from enterprise infrastructure to cloud and virtualized infrastructure.

• DevOps professionals are hampered by large amounts of warnings, substantial IT noise, and signals spread across diverse technologies. Meanwhile, companies need to increase IT infrastructure performance and manage events more precisely and quickly is expanding.
• Enterprises are moving toward AI-based solutions as they become more aware of how AI can handle difficulties and assist operating IT operations. Furthermore, the growing number of individuals working from home will likely increase the AIOps industry. According to the World Economic Forum, the number of days US employees work from home climbed from 1.58 per week in January 2021 to 2.37 in June last year.
• Furthermore, as devices gain intelligence, networks have become more complex, and data volumes have increased, boosting AIOps usage. The growing global use of cloud computing is also pushing the automation of many operations. As more businesses transition to the cloud, the need for AIOps platforms is projected to surge.
• The IT Operations Management (ITOM) industry is already reacting to the emergence of SaaS ITOM. SaaS as a delivery model for IT helpdesks and infrastructure monitoring is proven beneficial. These solutions typically incorporate log management, website monitoring, server monitoring, and cloud management from acquired SaaS vendors. However, lack of awareness is one of the significant concerns restraining market growth during the forecast period.
• Due to the increasing work-from-home policy across companies, the COVID-19 outbreak stimulated market growth in next-generation tech sectors, including artificial intelligence. For example, during the outbreak, LogMeIn, Inc. (US), a provider of cloud and SaaS-based remote connection and customer interaction services, substantially increased the number of new sign-ups across all its service portfolios.
• The rising number of cybercrimes, such as hacking, phishing, online identity theft, and ransomware assaults, which cause business disruptions and financial losses worldwide, generated concerns for many companies about their data security. According to a last year's gov.uk poll, 39% of UK firms recognized a cyber assault in the preceding 12 months, consistent with prior years of the study. Furthermore, the increased acceptance of automation technologies in enterprises, even on a small scale, is driving the deployment of AI-based platforms, which is expected to boost AIOps market growth.