Overview and Scope
AI and machine learning operationalization software refers to a collection of tools, platforms, and frameworks used to automate the deployment, administration, and scaling of artificial intelligence (AI) and machine learning (ML) models in production contexts. This software makes it easier to integrate AI and machine-learning algorithms into business processes and applications.
Sizing and Forecast
The AI and machine learning operationalization software market size has grown exponentially in recent years. It will grow from $3.77 billion in 2023 to $5.36 billion in 2024 at a compound annual growth rate (CAGR) of 42.4%. The growth in the historic period can be attributed to an increase in disposable income, increased adoption of AI and ML, data explosion, demand for operational efficiency, cost reduction, and regulatory compliance.
The AI and machine learning operationalization software market size is expected to see exponential growth in the next few years. It will grow to $22.33 billion in 2028 at a compound annual growth rate (CAGR) of 42.9%. The growth in the forecast period can be attributed to the growing trend of urbanization, the adoption of AutoML is on the rise, increasing demand for streamlined processes, growing availability of various vehicle categories, growing with the adaption of several industries, increasingly adopting hybrid and multi-cloud strategies. Major trends in the forecast period include technological advancement, industry-specific solutions, integration of IoT and edge computing, hybrid cloud deployments, automation, and DevOps integration.
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The ai and machine learning operationalization software market covered in this report is segmented –
1) By Product Type: Cloud-based, Web-based
2) By Functionality: Model Training and Experimentation, Model Deployment and Management, Model Monitoring and Governance, ML Workflow Automation
3) By Application: Large Enterprises, Small and Medium Enterprises (SMEs)
4) By Industry: Manufacturing, Finance, Healthcare, Retail, IT and Telecommunications, Other Industries
North America was the largest region in the AI and machine learning operationalization software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI and machine learning operationalization software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increased internet penetration is expected to propel the growth of the AI and machine learning operationalization software market going forward. Internet penetration refers to the percentage of a population’s access to the Internet within a certain geographical area, usually a country or region. The rise in Internet penetration rates is because of enhanced infrastructure, consumer need for connectivity, and increased demand for device compatibility. The Internet allows for the smooth deployment, management, and scaling of AI and ML models via operationalization software, simplifying data access, collaboration, deployment, monitoring, and interface with other services. For instance, in November 2022, according to a publication by the International Telecommunication Union (ITU), a Switzerland-based United Nations agency, global Internet penetration reached an estimated 5.3 billion people, representing 66% of the world’s population in 2022, with a growth of 6.1% over 2021. Therefore, the increased internet penetration is driving the growth of the AI and machine learning operationalization software market.
Key Industry Players
Major companies operating in the AI and machine learning operationalization software market report are Amazon Web Services Inc.; Google LLC; Microsoft Corporation; Intel Corporation; International Business Machines Corporation; Oracle Corporation; SAP SE; Hewlett Packard Enterprise Company; SAS Institute Inc.; Databricks Inc.; DataRobot Inc.; Weights & Biases Inc.; CognitiveScale Inc.; Peltarion AB; Iterative.ai; ValohAI Oy; Logical Clocks AB; Algorithmia Inc.; 5Analytics GmbH; Datatron Technologies Inc.; Determined AI Inc.; DreamQuark SAS; Neptune Labs Inc.; Imandra Inc.; Spell Inc.
The ai and machine learning operationalization software market report table of contents includes:
1. Executive Summary
2. AI And Machine Learning Operationalization Software Market Characteristics
3. AI And Machine Learning Operationalization Software Market Trends And Strategies
4. AI And Machine Learning Operationalization Software Market – Macro Economic Scenario
5. Global AI And Machine Learning Operationalization Software Market Size and Growth
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32. Global AI And Machine Learning Operationalization Software Market Competitive Benchmarking
33. Global AI And Machine Learning Operationalization Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The AI And Machine Learning Operationalization Software Market
35. AI And Machine Learning Operationalization Software Market Future Outlook and Potential Analysis
36. Appendix
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