MLOps Market Size, Share & Trends Analysis Report By Deployment (Cloud, On-premises), By Component (Platform, Service), By Organization Size (Large, SMEs), By Vertical (BFSI, Retail & E-Commerce), By Region, And Segment Forecasts, 2023 - 2030

MLOps Market Growth & Trends

The global MLOps market size is expected to reach USD 16.61 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 39.7% from 2023 to 2030. To gain insights from the data and best catering the customers' needs, organizations are adopting ML/AI-based projects to increase their revenue opportunities. These projects necessitate the adoption of ML and MLOps across businesses to improve their productivity and operations, which, in turn, strengthens the demand in the future. Enterprises have also invested in MLOps infrastructure, which includes the processes, resources, and tooling needed to train, develop, and operate machine learning models to ease the growing complexity of their IT needs.

Moreover, these platforms assist in reducing costs over the entire ML lifecycle and produce numerous prospects for the growth of the market. Enterprises globally are persuaded to increase their investment in AI/ML systems to achieve a competitive edge through better customer insights and increased employee productivity. Such automation systems can accurately and quickly analyze data and use complex algorithms to forecast future steps, eventually enhancing enterprises' productivity. For instance, in January 2023, Semantix, a cognitive computing company, announced the acquisition of Elemeno Inc., a cloud-managed MLOps platform provider.

Elemeno aims explicitly to automate ML software's deployment, development, and management with an easy-to-use interface. It also intends to accelerate artificial intelligence adoption for enterprises and organizations. Moreover, MLOps have revolutionized enterprise management by consolidating workflow management tools and trend forecasting. Furthermore, a rise in investment in ML technology remarkably contributes to demand expansion. In addition, many tech organizations and small start-ups have invested in adopting non-proprietary MLOps platforms to improve efficiency in their value chains, propelling global growth. Moreover, increasing of high-quality, affordable automated technology availability is expected to drive growth in the coming years.

MLOps Market Report Highlights

• The platform segment led the market in 2022 accounting for over 76% share of the global revenue. The adoption of MLOps platforms is increasing as more organizations recognize the importance of implementing MLOps practices to improve their ML projects’ reliability, scalability, and efficiency
• The on-premises segment held the largest revenue share of over 58% in 2022. The adoption of on-premise MLOps platforms has grown as more organizations seek to bring their ML workloads in-house. This trend has been driven by many factors, including the need for greater data privacy & control and the need to leverage existing infrastructure investments
• The BFSI segment held the largest revenue share of over 19% in 2022. Machine learning models can be used to assess credit risk for loan applicants, helping to automate the decision-making process and reduce the risk of default. MLOps practices can ensure that these models are trained on the latest data and are regularly tested and validated to ensure accuracy and fairness
• North America dominated the market in 2022 accounting for over 41% share of the global revenue. The market is expected to continue to grow in the coming years as organizations across various industries in the North America region are leveraging machine learning to gain a competitive advantage and improve their business operations

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