MLOps Market to Surpass USD 17,335 Million Value by 2030, Says P&S Intelligence

 NEW YORK, July 17, 2023 /PRNewswire/ -- According to the recent market research reports published by P&S Intelligence, the MLOps market will grow at a substantial CAGR, of 39.3%, during this decade, to reach over USD 17,335 million by 2030.

To gain a competitive edge through improved customer insights and increased productivity of employees, businesses across all industries are augmenting their funding in AI/ML systems.

This kind of automation system can quickly and precisely examine data and make use of complex algorithms for predicting future steps, which eventually improves the efficiency of enterprises.

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AI is based on technologies that need a lot of figures. Thus, it is easier for the healthcare sector to make use of it and track the record of their firm with an appropriately systematized data setup.

Medical information is vast in size and has a lot of attributes. The increasing number of complex procedures led to the initial incorporation of ML in the healthcare sector, because of its problem-solving feature.

This technology has the potential to improve the affordability of healthcare services, by employing automation, and not manual procedures, throughout health-related analyses and procedures.

• The platform component dominates the industry with a value of USD 834 million, and it will grow at a rate of approximately 40% in the years to come. This is due to the quality of ML platforms of enhancing the process and management of ML models.
• It helps organizations in building, training, managing, and positioning the models in a production-ready ML environment. It also quickens business experiments with the help of purpose-built tools, such as classification, preparation of data, monitoring, and training and tuning.
• SMEs led the enterprise size segment in the past because numerous startups have accepted MLOps platforms for increasing productivity in their value chains.
• According to a U.S.-based information technology company, ML platform startups have invested over USD 3 billion in research on diverse phases of ML operations, including platforms and monitoring, data governance and monitoring, and serving platforms.

MLOps Market Report Coverage

North America led the market, with a share of 36%, in the past. The reasons for this are the robust research and development activities related to AI and the presence of numerous top AI companies in the continent.

Browse detailed report on MLOps Market Size, Share and Growth Forecast Report 2030

The increasing investment in cutting-edge technologies for enhancing the business processes and the experience of customers will further offer lucrative growth prospects in the region.

Over this decade, the APAC region will witness the fastest market growth, on account of the growing penetration of AI and cloud computing technology in the region.

Machine Learning Operations Market Segmentation Coverage in the Report

MLOps Market Segmentation by component

• Platform
• Services

MLOps Market Segmentation by application

• Data Management
• Modeling
• Others 

MLOps Market Segmentation by deployment mode

• On-premise
• Cloud
• Hybrid 

MLOps Market Segmentation by end user

• Data Scientists
• ML Engineers
• AI enthusiasts
• Data Engineers

MLOps Market Segmentation by Industry

• BFSI
• Manufacturing
• IT and Telecom
• Smart Mobility
• Retail and E-commerce
• Energy and Utility
• Healthcare
• Media and Entertainment

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SOURCE P&S Intelligence