New MLOps Market Analysis Reveals Surging Demand for AI Deployment 2032

An increase in adoption of MLOps technology across enterprises to enhance operation & productivity strengthens the growth of the market for future.

PORTLAND, PORTLAND, OR, UNITED STATE, April 17, 2024 /EINPresswire.com/ -- 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.

The MLOps (Machine Learning Operations) market is a dynamic and rapidly evolving sector within the broader AI (Artificial Intelligence) landscape. MLOps refers to the practices and tools used to streamline the deployment, monitoring, and management of machine learning models in production environments.

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As organizations increasingly adopt AI and machine learning to gain insights from data, there's a growing recognition of the need for efficient, scalable, and reliable processes to manage these models throughout their lifecycle. MLOps aims to bridge the gap between data science and IT/operations teams, ensuring that models are deployed effectively, monitored for performance, updated when needed, and managed efficiently.

The surge in digital and internet penetration around the world is positively impacting the growth of the market. In addition, increase in 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 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.

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Based on deployment mode, the on-premise segment held the highest market share in 2022, accounting for three-fifths of the MLOps market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the numerous advantages offered by the on-premise deployment such as a high level of data security and safety. Industries prefer on-premise model owing to high data security and less data breach as compared to cloud based deployment models, which further drive the demand for on-premise deployment model within the sectors. However, the cloud segment is projected to attain the highest CAGR of 42.2% from 2023 to 2032. Rise in the adoption of cloud-based MLOps due to low cost and easier maintenance drives the growth of the market.

Based on enterprise size, the large enterprises segment accounted for the largest share in 2022, contributing more than two-thirds of the MLOps market revenue. The surge in adoption of MLOps in large businesses open numerous opportunities for market growth. However, the small and medium-sized enterprises segment is expected to attain the largest CAGR of 41.9% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. Factors such as surge in digitalization and increase government initiatives through various digital SME campaigns throughout the world fuel the growth of the market.

Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the MLOps market revenue. The increasing investment in advanced technologies such as cloud-based services, AI, ML, and IoT to improve banking and finance businesses and the customer experience are anticipated to propel the growth of the MLOps market. However, Asia-Pacific is expected to witness the fastest CAGR of 44.5% from 2023 to 2032, and is likely to enhance the market growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology are expected to provide lucrative growth opportunities for the market in this region

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The MLOps market is driven by the increasing adoption of AI and machine learning across industries such as finance, healthcare, retail, manufacturing, and more. Companies are looking to scale their AI initiatives, improve the reliability of their models, and accelerate the time-to-market for new AI applications. As a result, the MLOps market is expected to continue growing, with new players entering the space and existing ones expanding their offerings.

Analysts predict significant growth in the MLOps market, with estimates varying based on the scope of services included. Reports from various sources, such as MarketsandMarkets, Research and Markets, and Gartner, project the MLOps market to reach several billion dollars in the coming years, driven by the demand for efficient, scalable, and reliable AI solutions. However, the exact figures and projections can vary based on the specific segments and regions considered within the MLOps landscape.

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.

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