Global AIOps market promises strong growth through 2024

The Global AIOps Market is expected to register a CAGR of 27% during the forecast period 2019-2024.

With AIOps gaining traction in the market due to its ability to provide real-time data by eliminating silos, better tracking, and management, automated problem solving, and also helps in digital conversion IT organizations have started the implementation of AIOps which is expected to boost the market growth over the forecast period.

According to OpsRamp, a leading service-centric AIOps platform provider has revealed that AIOps tools are successful in delivering value for 87% of organizations. With the technology growing at a greater pace, the IT industry is poised to see the further deployment of AIOps.

Some of the prominent players in the market are entering into strategic partnerships to further the technology which would not only augment the organization's efforts in providing better customer experience but also help them gain a stronger footprint. This, in turn, would fuel the demand for the AIOps in the market over the forecast period.

For instance, in June 2019, Wipro Limited announced a partnership with Moogsoft, a pioneer and leading provider of artificial intelligence for IT operations (AIOps), to deliver next-generation artificial intelligence for IT operations solutions for its customers.

The rising trend for timely problem identification by analyzing the infrastructure behavior coupled with the increasing digitization and cloud migration is expected to drive the growth of the market over the forecast period.

In June 2019, BMC announced an update for its TrueSight portfolio to help IT-teams more easily extend and adopt the value for AIOps both on-premise and cloud throughout the organizations.