The ability to process information in a similar way as the thought processes of human beings in decision making, learning, and problem solving is called Artificial intelligence. The use of Artificial Intelligence for IT Operations (AIOps) is increasing rapidly. Artificial Intelligence for IT Operations is expected to be a rapidly developing technology. The deployment of Artificial Intelligence technology in IT operations is rising significantly around the globe as organizations are now realizing the value and benefits of integrating artificial intelligence into their IT operations. Artificial intelligence can improve communications in an organization, bring innovation in processes, increase customer engagement, and help in assessing the sales process.
In the past few years, companies that were early adopters of Artificial Intelligence in their IT operations have reaped numerous benefits. Today, when every company is involved in the software business in some or the other way, idle time is costly, and slow is the new down. Key industries that have incorporated Artificial Intelligence into their IT operations include manufacturing, consumer goods and retail, automotive, financial services, government, and advertising. Proactively dealing with and improvising modern applications, infrastructure (cloud or traditional), and networks is an inevitable requirement for every industry. The consumer goods or consumer packaged goods segment is projected to expand at a rapid pace during the forecast period. AI machine learning is influential and is reshaping the future of IT operations. By using artificial intelligence and advanced algorithms, an organization can improve and enhance several IT and business operations tools and improve user experience.
Problems with manually managing IT operations and handling large amounts of data are increasing. This is driving the growth of the Artificial Intelligence in IT operations market. Another factor contributing to the rising adoption of Artificial Intelligence in IT operations is the demand for improved visibility and transparency in IT operations data and processes. Increasing implementation of Big Data for improving consumer satisfaction and services is an additional factor propelling the Artificial Intelligence for IT operations (AIOps) market. Further, rise in demand for accuracy and safety in every industry is expected to drive the market in the coming years. However, lack of awareness about developments in Artificial Intelligence technology in IT operations is estimated to be a restraining factor for the market.
The global Artificial Intelligence for IT operations (AIOps) market can be segmented based on component, technology, organization size, and region. Based on component, the market can be classified into software (further segmented into on-premise and cloud-based) and services (further segmented into professional and managed services). Cloud deployment offers various benefits such as reduced operational and maintenance costs with more scalability and fewer complexities. In terms of technology, the Artificial Intelligence for IT operations (AIOps) market can be categorized into natural language processing (NLP), computer vision, machine learning (ML), and context-aware computing. The computer vision segment is likely to expand at a rapid pace during the forecast period, due to an increase in the adoption of computer vision for various applications in many industries across the globe. Based on organization size, the market can be divided into large enterprises and small- and medium-sized enterprises.
In terms of region, the Artificial Intelligence for IT operations (AIOps) market can be divided into Middle East & Africa, North America, South America, Europe, and Asia Pacific. The Artificial Intelligence for IT operations market (AIOps) in Asia Pacific is projected to expand at a considerable rate during the forecast period due to increasing adoption of NLP technologies and deep learning in retail, automotive, and manufacturing applications.
Most of the technology providers are based out of North America, making it to be the largest market for AIOps. Key players operating in the Artificial Intelligence for IT operations (AIOps) market are CA Technologies, A Broadcom Company, Slunk Inc., Amazon Web Services, Google Corporation, IBM Corporation, Intel Corporation, Microsoft Corporation, and FixStream.
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