With the emergence and long-term Impact of COVID-19, Global MLOps Market to reach USD 17.26 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global MLOps Market is poised to raise up to USD 17.26 Billion by year 2030. MLOps, or Machine Learning Operations, encompasses practices, tools, and methodologies aimed at streamlining the deployment, monitoring, and management of Machine Learning (ML) models in production environments. It integrates principles from DevOps to bridge the gap between data science and IT operations. Key components include version control for ML models and data, automated testing, CI/CD pipelines, model monitoring, and infrastructure management for scalable ML deployments. MLOps facilitates collaboration between data scientists, engineers, and operations teams, ensuring robust, reliable, and scalable ML models while upholding governance, compliance, and security standards.
It plays a vital role in operationalizing ML, enabling organizations to derive value from their investments and drive innovation across various domains such as healthcare, finance, and e-commerce. The growing focus on the standardization of ML processes for effective teamwork, and improved efficiency due to increased monitorability, coupled with increased productivity and quicker AI implementation are the most prominent factors that are propelling the market demand across the globe.
Geographically, the global MLOps market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the region’s robust research and development competencies in Artificial Intelligence (AI), supported by well-established economies, research institutions, and leading AI firms. The growing investment in advanced technologies aimed at augmenting customer experiences and optimizing business operations is poised to create lucrative growth prospects across North America. Additionally, the region boasts sophisticated AI research and development capabilities, with substantial investments in AI-related technologies.
Furthermore, North America has implemented policies conducive to fostering AI development. For instance, in December 2022, Allegro AI, an open-source company, announced significant growth milestones in user base, revenue, and collaborations, further underscoring the region’s commitment to advancing AI innovation. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rapid growth of the cloud computing sector, along with key players like Amazon Web Services, Inc., Microsoft, and Google expanding their footprint are significantly propelling the market demand across the region.
Cloud-based MLOps solutions are projected to witness substantial adoption in the region, as organizations integrate the scalability and flexibility of cloud infrastructure. Moreover, governments and enterprises across the APAC region are making significant investments in AI and machine learning, thereby fueling the demand for MLOps solutions capable of facilitating the development and deployment of machine learning models at scale.
The global MLOps market is highly competitive owing to the presence of several key market players such as International Business Machines (IBM) Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Hewlett Packard Enterprise Development LP, Neptune Labs, Inc., DataRobot, Inc., and others.
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Key findings of the study suggest:
- Global MLOps Market is anticipated to grow with a healthy growth rate of more than 39.7% over the forecast period 2023-2030.
- In the Component segment, Platform emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the region’s robust research and development competencies in Artificial Intelligence (AI), supported by well-established economies, research institutions, and leading AI firms. The growing investment in advanced technologies aimed at augmenting customer experiences and optimizing business operations is poised to create lucrative growth prospects across North America.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Component:
- Platform
- Service
Deployment:
- Cloud
- On-premise
Organization Size:
- SMEs
- Large Enterprises
Vertical:
- BFSI
- Healthcare & Life Sciences
- Retail & E-Commerce
- IT & Telecom
- Energy & Utilities
- Government & Public Sector
- Media & Entertainment
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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