The State of MLOps Market: Current Dynamics and Future Outlook, , 2023-2032

According to a new report published by Allied Market Research, titled, "MLOps Market," The mlops market was valued at $1.4 billion in 2022, and is estimated to reach $37.4 billion by 2032, growing at a CAGR of 39.3% from 2023 to 2032.

MLOps is a method based on adapting DevOps practices to machine learning development processes. MLOps is useful in transitioning from running a couple of ML models manually to using ML models in the entire company operation. Overall, MLOps helps to improve delivery time, reduce defects, and make data science more productive. This provides lucrative opportunities for market growth during the forecast period.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/A47295

Moreover, MLOps is the missing bridge between machine learning, data science, and data engineering. It has emerged as the link that unifies these functions more seamlessly than ever before. It helps professionals and advanced systems to consistently deploy machine learning algorithms and solutions for enhanced productivity and effectiveness. The technology is based on the combination of an operating framework for people and technology, as well as, on an abidance for the best set of practices and proven architectural principles.

AI and ML practices are no longer the luxury of research institutes or technology giants, they are becoming an integral part of any modern business application. According to analysts, most organizations fail to successfully deliver AI-based applications and are stuck in the process of turning data-science models, which were tested on sample or historical data, into interactive applications that work with real-world and large-scale data. A new engineering practice called MLOps has emerged to address the challenges.

As the name indicates, it combines AI/ML practices with DevOps practices, and its goal is to create continuous development and delivery (CI/CD) of data and ML-intensive applications. For instance, the year 2023 will also experience an expansion of AI and MLOps across various organizations, decreased time to market for AI projects, and for organizations using online feature stores to enable real-time use cases to be implemented.

For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/A47295

The surge in digital and internet penetration around the world is positively impacting the growth of the market. In addition, an increase in the adoption of MLOps technology across enterprises to enhance operation & productivity strengthens the growth of the market for future. Furthermore, an increase in investments in the healthcare sector is expected to provide lucrative growth opportunities for the market during the forecast period. However, inaccessible data & data security, rigid business models, and lack of engineering skills hamper the growth of the market.

Based on industry verticals, the IT and telecom sectors dominated the MLOps market in 2022 and is expected to continue this trend during the forecast period. The IT and telecom industry are implementing MLOps, to make the best decisions for continuing to be successful in the marketplace. These factors will notably contribute towards the growth for MLOps in this industry. However, the healthcare sector has the highest growth market share in the upcoming year. The adoption of MLOps helps healthcare companies to address issues such as securities, regulations, financial factors, and standards which are in the path of the digital transformation process.

Based on components, the platform segment held the highest market share in 2022, accounting for two-thirds of the MLOps market revenue, and is estimated to maintain its leadership status throughout the forecast period. The adoption of MLOps platform provides numerous benefits to the industry such as, streamlining the business process, reducing time and costs, and further fuel the growth of the market. However, the service segment is expected to witness the largest CAGR of 41.5% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. The MLOps service enhances software implementation, maximizes the value of existing installation by optimizing it, and minimizes the deployment cost & risks, and others.

Access the full summary at: https://www.alliedmarketresearch.com/mlops-market-A47295

Based on end user, the IT and telecom segment held the highest market share in 2022, accounting for more than one-fourth of the MLOps market revenue, and is estimated to maintain its leadership status throughout the forecast period. The IT and Telecom industry are implementing MLOps, to make the best decisions for continuing to be successful in the marketplace. These factors will notably contribute to the growth for MLOps in this industry. However, the government segment is projected to attain the highest CAGR of 41.9% from 2023 to 2032. The adoption of MLOps helps healthcare companies to address issues such as securities, regulations, financial factors, and standards that are in the path of the digital transformation process.

Region-wise, North America dominated the market share in 2022 for the MLOps market. The adoption of MLOps growing steadily to meet increasing demands from today's businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. In addition, North America is expected to exhibit high growth potential, as biopharmaceutical companies in this region are increasingly adopting MLOps for various applications such as research, drug discovery, and clinical trials, which is significantly fueling the market growth.

However, Asia-Pacific is expected to exhibit highest growth during the forecast period. This is attributed to the increase in penetration of advanced technology such as AI/ML big data and others, which is particularly fueling regional market growth. In addition, surge in digitalization toward business operation, is projected to provide lucrative growth opportunities for the MLOps market in Asia-Pacific region.

Buy Now & Get Exclusive Report at: https://www.alliedmarketresearch.com/mlops-market/purchase-options

Leading Market Players: -

• Akira AI
• Amazon Web Services, Inc.
• Cloudera, Inc.
• DataRobot, Inc.
• Google LLC
• IBM Corporation
• Databricks, Inc.
• GAVS Technologies
• Microsoft Corporation
• Alteryx

The report provides a detailed analysis of these key players in the MLOps market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A47295

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have special requirements, please tell us, and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.