The Cloud Machine Learning Operations (MLOps) Market Size is valued at USD 196.5 million in 2023 and is predicted to reach USD 3,156.0 million by the year 2031 at a 42.3% CAGR during the forecast period for 2024-2031.
Machine Learning Operations, often known as MLOps, is a term that describes the operational procedures and practices that are used in order to manage and operationalize machine learning models within a production setting. In order to guarantee that the deployment, monitoring, and upkeep of machine learning models go off without a hitch, the integration of a number of different processes, tools, and approaches is required. Manual data reprocessing and collection are inefficient processes that also have the potential to give outcomes that are not adequate. All of the ML model processes may be automated with the assistance of MLOps. The collecting of data, the creation of models, testing, retraining, and deployment are all included in this. By reducing mistake rates and saving time, MLOps are beneficial to businesses. In order to implement machine learning models throughout the whole organization, a collaborative effort must be made between IT and business executives, as well as data scientists and engineers.
Nevertheless, raw data is employed to produce predictions and extract final outcomes when a model is implemented. Consequently, it becomes difficult to ascertain the model's accuracy and to conduct ongoing evaluations. The procedure is delayed and ineffectual for ongoing retraining duties when the new data is manually labeled. The decision to employ unsupervised learning instead of supervised learning or to use the trained model to label the fresh data is contingent upon the issue and the task's objectives.
Competitive Landscape
Some Major Key Players In The Cloud Machine Learning Operations (MLOps) Market:
- International Business Machines Corporation (IBM)
- DataRobot, Inc.
- Microsoft Corporation
- Amazon.com, Inc.
- Google LLC
- Dataiku Inc.
- Databricks, Inc.
- Hewlett Packard Enterprise Development LP (HPE)
- Iguazio Ltd.
- ClearML, Inc.
- Modzy LLC
- Comet ML, Inc.
- Cloudera, Inc.
- Paperpace, Inc.
- Valohai Oy
- Other Market Players
Market Segmentation:
The Cloud Machine Learning Operations (MLOps) market is segmented on the basis of Type and application. Based on Type, the market is segmented as Platform, and Services. By application segment, the market is further segmented into BFSI, Healthcare, Retail, Manufacturing, Public Sector, and Others.
Based On Type, The Platform Segment Is Accounted As A Major Contributor In The Cloud Machine Learning Operations (MLOps) market.
The Platform category is expected to hold a major share in the global Cloud Machine Learning Operations (MLOps) market in 2023. The Platform segment, which encompasses a variety of comprehensive tools and frameworks, was instrumental in enabling organizations spanning a variety of industries to execute end-to-end machine learning workflows. The Platform segment's preeminent position was propelled by the rise in demand for comprehensive MLOps alternatives that seamlessly integrate with existing infrastructures. A collection of technologies that are intended to simplify the deployment, monitoring, and administration of machine learning models is included in the Platform component of MLOps. The ascendance of this segment can be ascribed to the growing number of automated machine learning (AutoML) platforms, which enable organizations to capitalize on machine learning (ML) capabilities without the necessity for extensive expertise.
The Healthcare Sector Experienced Significant Expansion.
The Healthcare segment is projected to grow rapidly in the global Cloud Machine Learning Operations (MLOps) market. The primary factor driving this accelerated growth is the growing adoption of machine learning as well as artificial intelligence (AI) to improve patient outcomes and simplify healthcare processes. AI-powered tools are extensively used for predictive modelling, personalized treatment recommendations, and image analysis. MLOps solutions enable the deployment and administration of these tools at scale, thereby guaranteeing adherence to rigorous data privacy regulations.
In The Region, The North America Cloud Machine Learning Operations (MLOps) Market Holds A Significant Revenue Share.
The North America Cloud Machine Learning Operations (MLOps) market is expected to register the major market share in terms of revenue in the near future. The area represents the pinnacle of technical developments in machine learning across several industries, including banking, retail, automotive, and healthcare, among others. Additionally, several pharmaceutical and property and casualty insurance entities engage in machine learning technology for business innovation. The Asia-Pacific (APAC) region is seeing significant expansion in the MLOps market, propelled by digital transformation efforts in nations such as China, Japan, India, and South Korea. These nations are achieving considerable advancements in artificial intelligence and machine learning, supported by governmental backing and investments. The expanding IT industry, together with an increase in data-centric enterprises, is driving the need for MLOps solutions in the area.
Recent Developments:
- In May 2023, IBM watsonx, a new AI and data platform, was announced at the annual Think conference. This platform will allow enterprises to scale and accelerate the effect of the most sophisticated AI with trusted data. Enterprises that are currently adopting AI require access to a comprehensive technology stack that allows them to train, tune, and deploy AI models, including foundation models and machine learning capabilities, throughout their organization with trusted data, speed, and governance. This stack should be available in a single location and capable of operating in any cloud environment.
Cloud Machine Learning Operations (MLOps) Market Report Scope
Report Attribute |
Specifications |
Market Size Value In 2023 |
USD 196.5 Mn |
Revenue Forecast In 2031 |
USD 3,156.0 Mn |
Growth Rate CAGR |
CAGR of 42.3% from 2024 to 2031 |
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
Historic Year |
2019 to 2023 |
Forecast Year |
2024-2031 |
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered |
By Type, Application |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
Competitive Landscape |
IBM, DataRobot, SAS, Microsoft, Amazon, Google, Dataiku, Databricks, HPE, Lguazio, ClearML, Modzy, Comet, Cloudera, Paperpace, Valohai. |
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |