The MLOps market size is projected to grow from USD 1.1 billion in 2022 to USD 5.9 billion by 2027, at a CAGR of 41.0% during the forecast period. The adoption rate of MLOps is increasing due to increased ability to consistently track and get insights into model performance. The enormous flexibility and administration features of MLOps enable supervision, control, management, and monitoring of thousands of models for continuous integration, continuous delivery, and continuous deployment are the key factors driving market growth.
Various globally established players such as IBM (US), Google (US), Microsoft (US), HPE (US), and Alteryx (US) are dominating the MLOps market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the MLOps market.
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IBM offers IBM Watson Studio, an MLOps platform. The platform enables data scientists, developers, and analysts to build, run, and manage AI models. It also offers optimizing choices for data from anywhere on the platform. In June 2021, IBM collaborated with Black & Veatch to jointly market Asset Performance Management solutions. These solutions will include remote monitoring technologies that combine artificial intelligence and near real-time data analytics to support customers in maintaining equipment and assets at peak performance and dependability.
Another important player in the MLOps market is HPE one of the world’s leading IT services and consulting company HPE is a worldwide edge-to-cloud corporation that enables an enterprise to connect, protect, analyze, and act on all of the data, from edge to cloud, to help transform, turn insights into outcomes and run digital business. The company is committed to provide an exceptional client experience. In March 2022, HPE announced it joining with BMW, the global leader in manufacturing premium automobiles and motorcycles. This partnership will help BMW to record electric test car data from throughout the world using HPE Ezmeral, providing BMW Group data.
MLOps Market by Component (Platform and Services), Deployment Mode (Cloud and On-premises), Organization Size (Large Enterprises and SMEs), Vertical (BFSI, Healthcare and Life Sciences, Retail and eCommerce, Telecom) and Region - Global Forecast to 2027
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