Northbrook, IL 60062 -- (SBWIRE) -- 01/04/2023 -- According to a research report "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" published by MarketsandMarkets, 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.

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By component, Services segment to have highest growth rate during forecast period

Organizations worldwide are adopting MLOps solutions to empower their client engagement, brand awareness, and marketing activities. With the help of MLOps marketing platforms, organizations can easily engage audiences, communicate more efficiently, and expand their reach. MLOps solutions help enhance customer engagement by enabling rating, commenting, and sharing videos on social media. These solutions assist in measuring the impact of each video and optimizing content and distribution strategies with the help of built-in analytics. They also help enterprises launch video customer engagement programs. The effective use of MLOps solutions has helped organizations transform marketing from a cost center to a revenue function.

By vertical, Healthcare & Life Sciences segment to grow at highest CAGR during forecast period

Currently, the MLOps market is witnessing increased growth opportunities in the healthcare and life sciences vertical. This growth can be attributed to the increasing requirement of creating a digital healthcare system that is simple to convert into actionable insights. Today, many applicable health analytics processes are coming into play. For instance, healthcare providers can use patients' data to build predictive models for various diseases and make very precise forecast. It will aid in diagnostic processes, that in turn will help to streamline patient treatment.

Asia Pacific to have highest growth rate during forecast period

Government initiatives to promote the digital infrastructure pose as key drivers of the MLOps solutions in the region. Developing economies in this region are proving to be an untapped market for MLOps platform providers. APAC is laying groundwork for the next technological revolution. Businesses and governments use ML models to build strong seamless experiences for citizens and customers. This paired with investments from financial industries to reduce risk, could entice even more multinational corporations to start looking at APAC with growing possibility. The rapid increase in the adoption of MLOps platforms in APAC has made it highly lucrative and one of the fastest-growing markets, globally.

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Market Players

The major players in the MLOps market are IBM (US), Microsoft (US), Google (US), AWS (US), HPE (US), GAVS Technologies (US), DataRobot (US), Cloudera (US), Alteryx (US), Domino Data Lab (US), Valohai (US), H2O.ai (US), MLflow (Netherlands), Neptune.ai (Europe), Comet (US), SparkCognition (US), Hopsworks (Europe), Datatron (US), Weights & Biases (US), Katonic.ai (Australia), Modzy (US), Iguazio (Israel), Teliolabs (US), ClearML (Israel), Akira.AI (India), and Blaize (US). 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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