Emphasis on Component (Platform and Service), Industry Vertical (BFSI, Manufacturing, IT and Telecom, Retail and E-commerce, Energy and Utility, Healthcare, Media and Entertainment, and Others), Region/Country.
The MLOps Market holds a promising Potential for Exponential Speedup with a CAGR of 41% for the forecast period. Businesses are applying artificial intelligence/machine learning ideas successfully in their organizations to build competitive advantages and add more value to their organizations. MLOps helps to operationalize machine learning models meaning that it makes it easier to put the models into the production environment. Further, the healthcare, finance, and telecommunications industries come under strict regulatory standards concerning data security, privacy, and model explainability. This way, MLOps ensures that an organization meets regulatory requirements on aspects such as governance audibility and traceability at each stage in the machine learning process.
MLOps is the operation of machine learning from the development of the model to the operations of the final product. The last one refers to the process of development, deployment, management, and automation of machine learning development to meet a scalable output of high-quality machine learning models.
Insights on MLOps Market Segmentation
The segments based on the Component that constitute the MLOps Market include Platform and Service. The Platform segment led the market in 2023. Solutions in the MLOps Market contain solid platforms and instruments for organizations to create, handle, and scale up machine learning models. For instance, Amazon Web Service’s SageMaker is a general ML platform that allows and supports everything from labeling to deployment of the model according to the needs of various industries across the world.
Based on the Industry Vertical, the MLOps Market has been classified into BFSI, Manufacturing, IT and Telecom, Retail and E-commerce, Energy and Utility, Healthcare, Media and Entertainment, and Others. In 2023, the IT and Telecom segment led the MLOps Market. IT and Telecom are the most advanced industries in terms of MLOps usage for the improvement of network management, cybersecurity, and customer value. For instance, through MLOps, Telefonica in Spain applies techniques of enhancing the performance of a network and level of maintenance to guarantee customers reliable connection.
North America held a dominant share of the market in 2023
In 2023, the market was led by North America, which accounts for the largest market share. The North American region holds higher revenues mainly because most organizations in this region are still sticking to AI from the starting period, and most of the tech-giants are invested in superior MLOps solutions. In this case, technology powerhouses such as Google, Microsoft, and IBM are some of the key players leaning into the regional leadership in MLOps advancement consequently boosting the economy through the different sectors.
The MLOps Market is competitive and fragmented, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. The major players operating in the market are Akira AI (XenonStack), Alteryx Inc., Amazon Web Services Inc., Dataiku Inc., Datarobot Inc., Domino Data Lab Inc., Google LLC (Alphabet Inc.), H2O.ai, and Hewlett Packard Enterprise Development LP.
Modern business is shifting to MLOps platforms that help to manage the entire process of the data model lifecycle for machine learning from beginning to end. These platforms help in coordinating the data scientist, machine learning engineer, and DevOps, especially in matters of scalability, reproducibility, and governance of the ML projects.
Notably, there is increased emphasis on governance, risk management, and compliance, (GRC) in MLOps frameworks. To make sure that AI is ethical and respects people’s data privacy and other regulations, organizations have developed and used policies and tools to regulate the process of Machine Learning model creation and deployment.
MLOps education and training has slowly become a popular field of study with many organizations and industries seeking to increase their workforce’s capacity to execute ML operations. These programs are designed for intermediate to advanced levels of data scientists, engineers, and IT personnel who need specific training in MLOps.
The Global MLOps Market can be customized per requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Mlops Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Component
8. Market Insights By Industry Vertical
9. Market Insights By Region
10. Value Chain Analysis
11. Competitive Landscape
12. Company Profiled
13. Acronyms & Assumption
14. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the Global MLOps Market were the three major steps undertaken to create and analyze the adoption of MLOps in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Global MLOps Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MLOps Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MLOps Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as Component and Industry Vertical. Further country-level analyses were conducted to evaluate the overall adoption.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MLOps Market. Further, we conducted factor analysis using dependent and independent variables such as Component and Industry Vertical of the MLOps Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MLOps Market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global MLOps Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global MLOps Market. Data was split into several segments and sub-segments after studying various parameters and trends in the areas of Component and Industry Vertical in the Global MLOps Market.
The current & future market trends of the Global MLOps Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the MLOps Market's current market size and growth potential?
Q2: What are the driving factors for the growth of the MLOps Market?
Q3: Which segment has the largest share of the MLOps Market by Component?
Q4: What are the emerging technologies and trends in the MLOps Market?
Q5: Which region will dominate the MLOps Market?
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