ModelOps Market Size Worth USD 70.07 Billion by 2032 | CAGR: 38.3%

The global ModelOps market size is expected to reach USD 70.07 billion by 2032, according to a new study by Polaris Market Research. The report “Global ModelOps Market Size, Share, Trends, Industry Analysis Report: By Offering (Platforms, Services), By Model Type, By Application, By Verticals, and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The ModelOps market is being driven by the increasing use of AI and ML in various industries to integrate them into business operations. Companies are incorporating AI and ML into their business processes to gain a competitive edge, improve operational efficiency, and provide personalized customer experiences. Additionally, ModelOps enables the continuous integration and delivery of AI solutions, establishing a framework for automating and streamlining business operations. The growing need for integrating AI solutions into businesses is fueling the expansion of the ModelOps market.

In addition, the expansion of data generation is propelling the ModelOps market as it necessitates comprehensive data management strategies. Data volumes are rapidly increasing across industries due to advancements in IoT, social media, e-commerce, and other digital channels. Organizations are using machine learning models to extract actionable insights from this explosion of data. Therefore, the increasing amount of data requires platforms like ModelOps and DataOps, thus contributing to the market growth for ModelOps.

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The growth of the ModelOps market is being fueled by the advancement in automated machine learning (AutoML) platforms. Businesses are consistently introducing AutoML platforms to make machine learning accessible to non-experts and other companies. Furthermore, competition in the market is driven by companies offering inclusive ModelOps platforms that are integrated with cloud and AI services. Consequently, players are using their significant resources and customer bases to improve ModelOps capabilities, further driving the ModelOps industry size.

ModelOps Market Report Highlights

• The monitoring and alerting segment in the ModelOps market is expected to experience substantial growth over the forecast period due to the escalating utilization of artificial intelligence and machine learning models in diverse industries, creating a demand for solutions that ensure the optimal performance of these models.
• The BFSI sector dominated the ModelOps industry because BFSI institutions widely utilize decision-making models in banking, credit, and investment functions.
• In the global market, the North American ModelOps market has the highest revenue share due to the presence of numerous established and emerging ModelOps companies such as Verta, SAS Institute Inc., ModelOp, Teradata, and IBM in the North American region.
• The global key market players are Altair Engineering Inc., C3.ai, Inc., Cloud Software Group, Inc., Databricks, DataKitchen, Inc., Datatron, Domino Data Lab, Inc., Giggso, IBM, LeewayHertz, Minitab, LLC, ModelOp, Palantir Technologies Inc., SAS Institute Inc., Sparkling Logic, Teradata, Veritone, Inc., and Verta.

Polaris Market Research has segmented the ModelOps market report based on offering, model type, application, verticals, and region:

ModelOps, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Platforms

• By Type

• Development & Experimentation Platforms
• Monitoring & Observability Tools
• Automated Machine Learning (AutoML) Platforms
• Performance Tracking & Management Platforms
• Model Explainability & Interpretability Tools
• Serving & Deployment Tools
• Other types

• By Deployment Mode

• Cloud
• On-Premises

• Services

• Consulting Services
• Deployment & Integration
• System & Maintenance

ModelOps, Model Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Agent-Based Models
• Bring Your Own Models
• Graph-Based Models
• Linguistic Models
• ML Models
• Rule & Heuristic Models
• Others

ModelOps, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Batch Scoring
• Continuous Integration/Continuous Deployment
• Dashboard & Reporting
• Governance, Risk and Compliance
• Model Lifecycle Management
• Monitoring & Alerting
• Parallelization & Distributed Computing
• Others

ModelOps, Verticals Outlook (Revenue - USD Billion, 2019 - 2032)

• BFSI
• Energy & Utilities
• Government & Defense
• Healthcare & Life sciences
• IT/ITeS
• Manufacturing
• Retail & eCommerce
• Telecommunications
• Transportation & Logistics
• Others

ModelOps, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of APAC

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

ModelOps Report Scope