The Europe Artificial Intelligence for IT Operations (AIOps) Platform Market would witness market growth of 20.2% CAGR during the forecast period (2021-2027).
Artificial Intelligence for IT Operations (AIOps) platform is a multi-layered technology platform that helps in automating and improving IT operations using machine learning, artificial intelligence, and analytics. This platform integrates human intelligence with automated algorithms to offer wide-range visibility into the performance of IT systems. Additionally, this platform also provides more agility and speed that are needed for the business to work efficiently. Thus, this is the major factor boosting the demand for AIOps in the IT environment. Moreover, modern machine learning algorithms collect the beneficial information that runs in the background in order to offer useful insights.
Moreover, the AIOps platform makes use of self-learning and intelligence algorithms that are supported by machine learning to automate uniform IT tasks. This platform also identifies and foresees events through behavioral and historical data analysis. Further, it offers a well-grounded study of data by making optimum use of big data analytics and extracting purposeful information from data for extensive processing. The incorporation of IT operations with AI secures multi-dimensional data normalization, predefined response plans to mitigate future events, severity-based incidents prioritizing, and real-time data correlation. Thus, the AIOps platform can extract actionable insights from scratched data that assist in developing a responsive ITOps infrastructure.
The artificial intelligence for IT operations platform market is displaying prominent growth in Europe. This surge in the regional market growth is attributed to the growing deployment of the AI platform in numerous sectors such as automobile and manufacturing, to enhance operational productivity and efficiency. This platform helps in correlating data across several applications, network services, infrastructure, and customers. Additionally, it is integrated with advanced analytics and machine learning to offer a superior level of data-driven recommendations and visibility.
Moreover, these platforms also allow resource utilization, optimized expenditure, and predicted & modeled workload capacity needs. The major factor anticipated to drive the growth of the regional market in the upcoming period is the growing demand for AIOps platforms and digital experience monitoring tools across various large-sized companies for application monitoring & infrastructure. Thus, the aforementioned factors are likely to accelerate the regional market growth over the forecast years.
The Germany market dominated the Europe Artificial Intelligence for IT Operations (AIOps) Platform Network & Security Management Market by Country 2020, thereby, achieving a market value of $175.8 million by 2027. The UK market is exhibiting a CAGR of 20.5% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 22.3% during (2021 - 2027).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Application, the market is segmented into Real-Time Analytics, Application Performance Analysis, Infrastructure Management, Network & Security Management, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & eCommerce, Energy & Utilities, Healthcare & Life Sciences, Government & Public Sector, Telecom & IT, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Artificial Intelligence for IT Operations (AIOps) Platform Market Size will Hit $19.5 Billion by 2027, at a CAGR of 21%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Micro Focus International PLC, Dell Technologies, Inc. (VMware, Inc.), Broadcom, Inc., BMC Software, Inc. (KKR & Co., Inc.), AppDynamics (Cisco Systems, Inc.), HCL Technologies Ltd. (HCL Enterprises), Splunk, Inc., Moogsoft, and Resolve Systems, LLC (Insight Partners).
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