Press release
2024 Machine Learning Model Operationalization Management (MLOPS) Market Report : Market Size, Growth Drivers, And Key Trends | Google LLC, Microsoft Corporation, Amazon Web Services Inc., IBM Corporation, Oracle Corporation, SAP SE
Machine Learning Model Operationalization Management (MLOPS) Global Market Report 2024
The Business Research Company presents an extensive market research report on the Machine Learning Model Operationalization Management (MLOPS) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The machine learning model operationalization management (mlops) market size has grown exponentially in recent years. It will grow from $1.83 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 44.9%. The growth in the historic period can be attributed to proliferation of machine learning models, rising complexity of ml models, growing data volumes, increasing demand for automation, rise of cloud computing..
The machine learning model operationalization management (mlops) market size is expected to see exponential growth in the next few years. It will grow to $11.56 billion in 2028 at a compound annual growth rate (CAGR) of 44.6%. The growth in the forecast period can be attributed to advancements in model explainability, integration with ai governance, greater adoption of model versioning, focus on cost optimization, increased industry-specific solutions.. Major trends in the forecast period include advancements in technology, product innovations, cloud security initiatives, web applications development.
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Key Market Players:
Major companies operating in the machine learning model operationalization management (mlops) market report are Google LLC, Microsoft Corporation, Amazon Web Services Inc., IBM Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, SAS Institute Inc., Informatica Corporation, Cloudera Inc., Databricks Inc , TIBCO Software Inc., Alteryx Inc., DataRobot Inc, Dataiku Inc., Domino Data Lab Inc, Neptune Labs, H2O.ai, RapidMiner, Tecton Inc, Data Science Dojo, ModelOp Inc, Aible, Inc, Algorithmia, Inc, KNIME AG
Market Drivers:
The increasing adoption of AI technology is expected to propel the growth of the machine learning model operationalization management (MLOPS) market going forward. Artificial intelligence (AI) refers to the development of computer systems or software that can perform tasks that typically require human intelligence. Machine learning operationalization management uses AI technology to ensure that machine learning models are deployed, managed and monitored effectively in production environments and enhance the end-to-end lifecycle of machine learning (ML) models. For instance, in May 2022, according to a report published by International Business Machines Corporation (IBM), a US-based technology corporation, the adoption rate of AI globally increased significantly and was at 35%, up four points from the previous year. Further, in 2022, 13% more firms are projected to have used AI than in 2021. 35% of organizations reported adopting AI in their company, 42% are considering AI for adoption, and two-thirds of the companies (66%) are either presently executing or intending to utilize AI to meet their sustainability goals. Therefore, the increasing adoption of AI technology is driving the growth of the machine learning model operationalization management (MLOPS) market.
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https://www.thebusinessresearchcompany.com/report/machine-learning-model-operationalization-management-mlops-global-market-report
The machine learning model operationalization management (mlops) market covered in this report is segmented -
1) By Component: Platform, Services
2) By Deployment: On-Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Vertical: Banking, Financial Services, And Insurance, Retail And Ecommerce, Government And Defense, Health And Life Sciences, Manufacturing, Telecom, IT And ITeS, Energy And Utilities, Transportation And Logistics, Other Verticals
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