AI And Machine Learning Operationalization Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of AI And Machine Learning Operationalization Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
AI And Machine Learning Operationalization Software Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the AI and machine learning operationalization software market are developing new technologically advanced infrastructure, such as serverless AI and machine learning engines, to gain a competitive edge in the market. A serverless AI and machine learning engine refers to a computing infrastructure that allows users to deploy and run AI and machine learning models without the need to provision or manage servers. For instance, in November 2023, Teradata Corp., a US-based software company, launched the Teradata AI Unlimited platform on Amazon Web Services (AWS) cloud. Teradata AI Unlimited on AWS combines its sophisticated ClearScape Analytics capabilities with a low-cost environment designed to encourage experimentation and discovery. The platform is specifically designed to cater to data scientists, data engineers, and developers, providing them with tools to explore new applications for AI using data at scale. It offers features such as serverless AI and machine learning engines, compute and in-engine analytics, and native integration within the AWS AI ecosystem. Additionally, the platform supports a bring-your-own-model approach and provides access to various data lake formats, enabling users to transition from model prototyping to production environments seamlessly. It is a comprehensive AI platform that can effectively support AI and ML operationalization within its broader AI development workflow.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. AI And Machine Learning Operationalization Software Market Report Structure
3. AI And Machine Learning Operationalization Software Market Trends And Strategies
4. AI And Machine Learning Operationalization Software Market – Macro Economic Scenario
5. AI And Machine Learning Operationalization Software Market Size And Growth
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27. AI And Machine Learning Operationalization Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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