Summary

The AIOps Market was valued at USD 13.51 billion in 2020, and is projected to be worth USD 40.91 billion by 2026, registering a CAGR of approximately 21.05% during the forecast period of 2021-2026. 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. For instance, according to IBM Security report 2020, about 54% of the organizations mentioned that they require remote working in response to Covid-19. Such developments are driving the demand for cloud-based solutions.

- Large volumes of alerts, significant IT noise, and signals distributed across disparate tools hold back DevOps professionals. Meanwhile, teams' requirement to improve performance across IT infrastructure and more accurately solve and resolve incidents faster is growing.
- With the increasing awareness of how AI can address these challenges and help run IT operations, enterprises are shifting focus towards the adoption of the AI-based solutions. A recent study from New Relic found that 89% of 750 global senior IT decision-makers surveyed believe that AI and machine learning are essential for how organizations run IT operations. Nearly 84% have mentioned AI, and machine learning will ultimately make their role more manageable. This positive outlook for AI is set to transform into widespread usage of AIOps over the next few years.
- Further, as devices are gaining intelligence, systems have become more complicated with increasing data volume, thus increasing the adoption of AIOps. The increasing cloud adoption, across the world, is also fueling automation of these processes. Therefore, as more enterprises are migrating to the cloud, the need for AIOps platforms is also expected to increase.
- According to LogicMonitor, 83% of enterprise workloads are expected to be in the cloud by 2020. The company also estimated that, by 2020, 41% of enterprise workloads would be running on public cloud platforms. An additional 20% are expected to be private-cloud-based, followed by another 22% deploying on hybrid cloud platforms. Also, on-premise workloads are anticipated to shrink to 27% by 2020, from 37% in 2017. The rising need for the orchestration and automation solutions for these cloud services is also forcing the cloud user to adopt AIOps platforms.
- 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 has proven to be useful. 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 major concerns restraining market growth, during the forecast period.
- In March 2020, Sumo Logic Inc. announced a number of free analytics solutions and resources to help support enterprises and the broader community during the coronavirus pandemic. It unveiled a bundle of SaaS apps designed to help IT and security teams ensure critical business applications are up, running and secure.

Key Market Trends

BFSI is Expected to Hold Significant Share

- Banking operations include many periodic and aperiodic activities and transactions performed by employees, customers, and external agencies. These activities are complex, which makes its monitoring essential. With AIOps delivering realtime information, automated problem solving amongst others, it is expected to boost the market growth over the forecast period. For instance, the AIOps platform from CA technologies, i.e., CA Digital Experience Insights, enables the financial firms in solving complex IT problems, including performance, capacity, and configuration issues.
- Banks and other financial institutions are primarily focusing on ensuring the security of the data they generate, especially due to the numerous high-profile data breaches that took place over the past few years.
- The implementation of reliable IT operation management solution is essential for banks, in order to provide the best possible service levels, primarily to support its internal workflows, as well as to deliver better customer service. Furthermore, they are focusing on maintaining optimal service efficiency in their day-to-day IT operations.
- The rising implementation of regulatory standards and the increasing adoption of cloud-based IT solutions, along with increasing modes of online payments, are expected to drive the market.
- Furthermore, the integration of AI in operation services, across the financial institutions, enhanced the capabilities built into the service desk systems, thus providing the oversight and critical performance indicators, which are necessary for the higher management, in order to identify operational trends, before they adversely impact the existing products and processes.

Europe to Witness Significant Growth

- One of the primary reasons for the growth of the AIOps market in Europe is the region’s MSPs seeking to offer comprehensive services to enterprises undergoing large-scale digital transformation and requiring modern operations solutions.
- According to the survey “The 2020 State of IT” done by Spiceworks on 1005 respondents (which included North American and European business technology buyers) in July 2019, 43% said that their company was currently using IT automation, with a further 15 % planning to use it within the following 12 months and 11% planning to use in 1- 2 years.
- Moreover, according to The Artificial Intelligence Report published by Microsoft in 2019 (done on AI leaders in 277 countries across seven sectors and 15 countries in Europe), 89% of the respondents expect AI to generate business benefits by optimizing their companies’ operations in the future. This is followed by 74% that expect AI to be key to engaging customers.
- The most widely reported AI adoption (47%) was in the IT/Technology function, followed by R&D with 36%, and customer service 24%. This signifies the growing importance given to AI in the IT operations field.
- As per the estimates by Pitchbook and Crunchbase, as of January 2020, 20 European unicorns were active in finance, insurance, and real estate. In comparison, there were roughly eight unicorns specifically dedicated to health and pharmaceuticals, and IT & telecommunications, respectively. This indicates an increase in the future adoption of AIOps for these industries.

Competitive Landscape

The competitive rivalry amongst the players in the market is high owing to the presence of some key players such as IBM, HCL, Tech Mahindra, Broadcom Inc. amongst others. The ability to continually innovate their products and services has allowed them to gain a competitive advantage over other players in the market. Through strategic partnerships, mergers & acquisitions, and research and development activities, these players can attain a greater market footprint.

- April 2021 - As part of its strategic collaboration with Google Cloud, Broadcom Inc. has announced to accelerate innovation and strengthen cloud services integration within the core software franchises of Broadcom. Under this collaboration, Broadcom will deliver its suite of security and enterprise operations software on Google Cloud. Furthermore, although Broadcom's move to Google Cloud started with its security software the company plans to migrate other applications including, AIOps. This partnership can help Broadcom leverage Google Cloud's infrastructure for accelerating its development, cutting latency, and scaling more easily further enabling it to diversify its public Internet options.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Impact of COVID-19 and Cybersecurity on the Market

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Cost of Data Breaches
5.1.2 Growing Threat of Harmful Insider Attacks
5.2 Market Challenges
5.2.1 Limited Availability of Skilled Users
5.3 Market Opportunities and Key Developments
5.3.1 SMEs Moving Towards Cloud Infrastructure
5.3.2 Government Initiatives For AI Adoption in Various Countries
5.4 AIOps Tools Released in Past Two Years and Key AIOps Platform Capabilities To be Considered (Data ingestion & handling, remediation and machine learning analytics)
5.5 Application of AIOps across various Use Cases Over the Life Cycle of an Application
5.6 Evolution of AIOps Stages and Use Cases
5.7 Assessment of Impact of COVID-19 on the Market

6 KEY APPLICATION LANDSCAPE
6.1 Root Cause Analysis
6.2 Network Availability & Optimization
6.3 Problem Assignment
6.4 Anomaly Detection & Cybersecurity
6.5 Improved Storage Management

7 CASE STUDIES DEPICTING USAGE OF AIOPS IN LARGE AND SMALL & MEDIUM-SIZED ENTERPRISES

8 MARKET SEGMENTATION - BY ORGANIZATION SIZE
8.1 Small and Medium Enterprises
8.2 Large Enterprises

9 MARKET SEGMENTATION - BY DEPLOYMENT
9.1 On-Premise
9.2 Cloud

10 MARKET SEGMENTATION - BY END-USER INDUSTRY
10.1 Media & Entertainment
10.2 IT & Telecom
10.3 Retail
10.4 BFSI
10.5 Healthcare
10.6 Other End-user Industries

11 MARKET SEGMENTATION - BY GEOGRAPHY
11.1 North America
11.2 Europe
11.3 Asia-pacific
11.4 Rest of the World

12 COMPETITIVE INTELLIGENCE - VENDOR PROFILES
12.1 Bigpanda Inc.
12.2 BMC Software Inc.
12.3 Broadcom Inc.
12.4 Elasticsearch B.V
12.5 IBM Corporation
12.6 Logz.Io (Logshero Ltd.)
12.7 Loom Systems Ltd. (Service Now Inc)
12.8 Moogsoft Inc.
12.9 Splunk Inc
12.10 Appdynamics LLC(Cisco Systems Inc)
12.11 Dynatrace LLC
12.12 Extrahop Networks Inc.
12.13 New Relic Inc.
12.14 Resolve Systems LLC
12.15 Stackstate BV
12.16 Anodot Ltd.
12.17 Brains Technology Inc
12.18 Devo Inc.
12.19 Digitate
12.20 ITRS Group Ltd
12.21 Nastel Technologies
12.22 Scalyr Inc.
12.23 Sumo Logic Inc.
12.24 VNT Software
12.25 VuNet
12.26 Aisera Inc.
12.27 Espressive Inc.
12.28 Evolven Software
12.29 Amelia US LLC (Ipsoft)
12.30 Numerify Inc.
12.31 ServiceNow Inc.
12.32 Harness Inc.
12.33 OverOps Inc.
12.34 Kentik Inc.
12.35 Pico Quantitative Trading LLC
12.36 Datadog Inc.
12.37 OpsRamp Inc.
12.38 ScienceLogic
12.39 Virtana
12.40 Zenoss Inc.

13 VENDOR POSTITIONING ANALYSIS

14 INVESTMENT SCENARIO

15 MARKET OUTLOOK

16 ANALYST VIEW AND MARKET ENTRY RECOMMENDATION