Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Machine Learning Model Operationalization Management (MLOps) Market size is expected to reach $8.5 billion by 2028, rising at a market growth of 38.9% CAGR during the forecast period.
The Platform segment acquired maximum revenue share in the Global Machine Learning Model Operationalization Management (MLOps) Market by Component in 2021 thereby, achieving a market value of $6.5 billion by 2028. As a result of technological advancements, numerous businesses worldwide are now adopting sophisticated MLOps solutions on a wide scale. MLOps solutions assist in boosting the remote workforce's overall productivity while lowering travel and engagement expenses. As a result, the solutions are essential for lowering overall OPEX and capital expenditure (CAPEX).
The Manufacturing segment has shown the growth rate of 40.1% during (2022 - 2028). The manufacturing industry needs significant logistics capabilities to carry out the entire manufacturing process. Machine learning-based solutions can automate several logistics-related tasks to improve productivity and cut expenses. Machine learning enables predictive maintenance by anticipating equipment issues, planning a timely repair, and minimizing downtime.
The Large Enterprises segment is leading the Global Machine Learning Model Operationalization Management (MLOps) Market by Organization size in 2021 thereby, achieving a market value of $5.6 billion by 2028. This is because data science and artificial intelligence technology are being used more frequently to offer quantitative insights into corporate processes. Large organizations are concentrating on artificial intelligence, deep learning, and decision optimization to give high-market services.
The On-premise segment is showcasing a CAGR of 36.9% during (2022 - 2028). A whole ecosystem of tools built for on-premises can work with mass amounts of computing power, which can be expensive in the cloud. Some customers find it more economical to do this on-premises or prefer a capital expense to an operational expense model. If an organization wants to get more involved in this or roll out AI at scale, it may make more sense to fund on-premises infrastructure instead of consuming cloud-based services.
The North America market dominated the Global Machine Learning Model Operationalization Management (MLOps) Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.3 billion by 2028, growing at a CAGR of 37.5 % during the forecast period. The Europe market is experiencing a CAGR of 38.1% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 40.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC, IBM Corporation, Hewlett-Packard enterprise Company, Alteryx, Inc., Cloudera, Inc., DataRobot, Inc., Domino Data Lab, Inc., and H2O.ai, Inc.
By Organization size
By Deployment Mode
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