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The Rise of ModelOps Market: A $29.5 billion Industry Dominated by IBM (US), Google (US) and SAS Institute (US) | MarketsandMarkets™

Chicago, July 09, 2024 (GLOBE NEWSWIRE) -- The ModelOps Market is projected to reach expected to grow from USD 5.4 billion in 2024 to USD 29.5 billion in 2029, at a CAGR of 40.2% during the forecast period, ModelOps, or Model Operations, is a set of practices and tools used to manage and operationalize machine learning models in a production environment. This includes deploying, monitoring, maintaining, and governance models to ensure they perform as expected. ModelOps aims to streamline the lifecycle of models, from development to deployment and beyond, ensuring they remain reliable, scalable, and compliant with regulatory requirements. By integrating modelOps into an organization's workflow, businesses enhance their ability to derive value from data-driven insights while maintaining robust oversight and control over their machine learning initiatives. Browse in-depth TOC on "ModelOps Market" 350 - Tables 50- Figures 380 - Pages Download Report Brochure @ ModelOps Market Dynamics: Drivers: Facilitates a seamless pipeline for ML model development, deployment, and monitoring. Harmonizes workflows across data science and IT operations domains. Reduces time-to-market and minimizes errors in model deployment. Restraints: Achieving interpretability without sacrificing performance is challenging, especially for complex models like deep neural networks. Simplifying models for interpretability often reduces predictive power and effectiveness. Opportunities: Revolutionizes the ModelOps market by operationalizing and managing ML models more efficiently. Streamlines testing, validation, and deployment processes, reducing human errors and accelerating time-to-market. List of Key Players in ModelOps Market: IBM (US) Google (US) Oracle (US) SAS Institute (US) AWS (US) Teradata (US) Palantir (US) Veritone (US) Altair (US) Request Sample Pages: Based on the offering, the ModelOps Market has been segmented into platforms and services. The platforms segment has been bifurcated ...