The North America Artificial Intelligence for IT Operations (AIOps) Platform Market would witness market growth of 19.5% CAGR during the forecast period (2021-2027).
AIOps refers to the implementation of artificial intelligence in IT operations. This platform plays an important role in the continuous monitoring and management of advanced IT ecosystems that are dynamic, componentized, distributed, and hybrid. The AIOps platform mainly collects a large volume of diverse data from several sources related to components of the IT ecosystem networks, infrastructure, storage, applications, cloud instances, and among others.
Conversational AI platforms are capable of transforming the way companies offer customer support. This platform found its extensive application in the corporate sector comprising customer retention & acquisition. Additionally, it also helps companies in efficiently resolving customer problems and offering improved customer experience. These platforms are also utilized in designing user-friendly chatbots that help in generating more leads and increasing revenue.
The artificial intelligence for IT operations platform market is anticipated to witness strong growth in North America. The growth of the regional market is attributed to the presence of major AIOps solutions providers in the region. Additionally, various tech giants are designing efficient AIOps solutions for several verticals. This factor is attributed to creating new growth opportunities for existing vendors in the market in the forthcoming years.
Moreover, a large number of business companies in this region are shifting towards digital transformations, which is responsible for the generation of a huge volume of complex data. Companies are spending a large amount of cost, effort, and time for careful processing of huge volume data. In the recent few years, a significant rise is witnessed in data loads, owing to the distributed infrastructure and vigorous nature of business services and applications. Thus, to stay competitive in the market, companies are highly adopting the AIOps platform to cater to demand and follow trends. Therefore, these factors are accountable to boost the growth of the regional artificial intelligence for IT operations platform market in the coming period.
The US market dominated the North America Artificial Intelligence for IT Operations (AIOps) Platform Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,053.2 million by 2027. The Canada market is experiencing a CAGR of 26.8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 25.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Artificial Intelligence for IT Operations (AIOps) Platform Market is Estimated 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).
By Component
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By Deployment Type
By Enterprise Size
By End User
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