The Latin America, Middle East and Africa Artificial Intelligence for IT Operations (AIOps) Platform Market would witness market growth of 26.3% CAGR during the forecast period (2021-2027).
The real-time analytics makes use of mathematics & logic to data to offer deep understanding to companies to make the best and effective decisions. In some cases, real-time means that analytics has to be completed in a few seconds or minutes immediately after the emergence of new data. Real-time analytics is also known as Continuous real-time analytics that is dynamic and immediately sends alert to customers or sends the response as an event take place. However, on-demand real-time analytics provide a single real-time view of data after receiving a request from the customer.
Factors such as the growing penetration of mobile applications, a significant increase in the generation of data, the rising demand for predictive analysis, accelerate in the adoption of the cloud-based solution, and rising complexities in the IT infrastructure would act as catalysts for the growth of AIOps market during the forecasting period. However, lack of awareness and unwillingness to adopt AIOps platforms across SMEs, rapid changes in IT operations, and increasing complexities & dynamic nature of the IT infrastructure are some of the determinants that are responsible to hamper the growth of the market.
The artificial intelligence for IT operations platform market would exhibit significant growth in LAMEA region, owing to the growing adoption of the AIOps platform and the presence of several SMEs in the region. The AIOps platform is capable to perform several functions like collecting data from varied sources, analyzing data utilizing machine learning, recommending suitable responses to data post-analysis, and storing & accessing data. Additionally, this platform assists in modeling and predicting needs for workload capacity that would witness to offer lucrative opportunities for the growth of the regional market.
Moreover, various improvements in technology are also creating new growth avenues for the market. Many AIOps platform vendors are also integrating natural language processing (NLP) and machine learning techniques to enhance the services provided by these platforms. This improvement in the AIOps platform is anticipated to boost its adoption in this region. Therefore, it is projected that the regional artificial intelligence for IT operations platform market will witness substantial growth in the coming period.
The Brazil market dominated the LAMEA Small & Medium Enterprises Artificial Intelligence for IT Operations (AIOps) Platform Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $79.6 million by 2027. The Argentina market would witness a CAGR of 30.3% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 29% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Artificial Intelligence for IT Operations (AIOps) Platform Market is Predict to reach $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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