According to the study of The Insight Partners titled "AIOps Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by component, deployment, organization size, and Vertical," the AIOps platform market size is projected to reach US$ 19,933.5 million by 2028 from US$ 2,831.2 million in 2021. It is expected to rise at a CAGR of 32.2% from 2021 to 2028.

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The Artificial Intelligence for IT Operations (AIOps) platform mixes human intelligence with automated algorithms to give users complete visibility into IT system performance. The achievement of necessary speed and agility required for companies is a crucial driver pushing the adoption of AIOps in the IT environment. Furthermore, modern machine learning algorithms gather essential data collected in the background and provide actionable insights.

This growth is attributed to the enormous increase in people working, studying, and researching. However, based on the IDC report, only 2% of the data was saved and kept until 2021; the remainder was either produced or copied solely for utilization or cached and overwritten with newer data. As a result, businesses are increasingly turning to automation to manage these massive amounts of data. Digitalization is critical for every firm looking to resume business operations and profit from changing conditions.

Some of the companies competing in The AIOps Platform Market are 

1.       IBM

2.       AppDynamics

3.       BMC Software, Inc

4.       Broadcom Inc

5.       Dynatrace LLC

6.       HCL Technologies Limited

7.       Micro Focus International plc

8.       Moogsoft

9.       Resolve Systems, LLC

10.   Splunk Inc.

11.   BigPanda

The AIOps platform employs intelligence and self-learning algorithms supported by machine learning to automate routine IT processes. It also analyses historical and behavioral data to detect and predict potential incidents. Furthermore, it uses big data analytics to analyze cognitive data and draws relevant information from data for complete processing. Real-time data correlation, multi-dimensional data normalization, severity-based issue prioritization, and established response plans to mitigate future disasters are all made possible by integrating IT operations with AI. This ability to generate meaningful insights from scratch data aids in the development of a flexible AIOps system.

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