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North America Leads MLOps Growth: Market Insights and Future Trends
(MENAFN- P&S Intelligence) According to the latest market research study published by P&S Intelligence, the global MLOps market was valued at USD 3.4 billion in 2024 and is expected to grow at a CAGR of over 31.1%, reaching USD 17.4 billion by 2030, as reported by P&S Intelligence.
The rapid adoption of advanced technologies like AI and ML, along with the operationalization of ML, is driving the efficient automation of processes. MLOps involves applying statistical tools and methodologies to available data, enabling supercomputers to learn autonomously without explicit programming. The more data these systems receive, the more they learn and evolve through data analysis.
MLOps delivers accurate results and analyses by developing data-driven models and efficient algorithms for real-time data processing.
Companies globally are increasing their investment in AI/ML systems to gain a competitive edge through enhanced customer insights and improved employee productivity. These automated systems can quickly and accurately analyze data and use sophisticated algorithms to predict future actions, thereby enhancing company performance. For instance, OTT platforms can recommend movies based on users' previous viewing history.
AI relies heavily on large datasets, making it particularly beneficial for the healthcare sector to utilize advanced technology for precise data management. Medical data, characterized by its high dimensionality and volume, benefits significantly from ML, which addresses complex issues and enhances problem-solving capabilities in healthcare. By integrating technology into health-related diagnoses and procedures, MLOps can improve the overall cost-effectiveness of healthcare services.
In 2022, North America dominated the market with a 36% share, attributed to its strong R&D capabilities in AI, the presence of leading AI companies, and research institutions. Increased spending on advanced technologies to optimize business processes and enhance customer experiences is expected to drive lucrative growth opportunities in the region. These countries have invested heavily in AI technologies and implemented policies to support the field's development.
In summary, the key drivers of the MLOps market include the growing adoption of advanced technologies in healthcare, the rising popularity of ML platforms, and the expanding application of these technologies across various sectors.
The rapid adoption of advanced technologies like AI and ML, along with the operationalization of ML, is driving the efficient automation of processes. MLOps involves applying statistical tools and methodologies to available data, enabling supercomputers to learn autonomously without explicit programming. The more data these systems receive, the more they learn and evolve through data analysis.
MLOps delivers accurate results and analyses by developing data-driven models and efficient algorithms for real-time data processing.
Companies globally are increasing their investment in AI/ML systems to gain a competitive edge through enhanced customer insights and improved employee productivity. These automated systems can quickly and accurately analyze data and use sophisticated algorithms to predict future actions, thereby enhancing company performance. For instance, OTT platforms can recommend movies based on users' previous viewing history.
AI relies heavily on large datasets, making it particularly beneficial for the healthcare sector to utilize advanced technology for precise data management. Medical data, characterized by its high dimensionality and volume, benefits significantly from ML, which addresses complex issues and enhances problem-solving capabilities in healthcare. By integrating technology into health-related diagnoses and procedures, MLOps can improve the overall cost-effectiveness of healthcare services.
In 2022, North America dominated the market with a 36% share, attributed to its strong R&D capabilities in AI, the presence of leading AI companies, and research institutions. Increased spending on advanced technologies to optimize business processes and enhance customer experiences is expected to drive lucrative growth opportunities in the region. These countries have invested heavily in AI technologies and implemented policies to support the field's development.
In summary, the key drivers of the MLOps market include the growing adoption of advanced technologies in healthcare, the rising popularity of ML platforms, and the expanding application of these technologies across various sectors.
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