Driving Operational Excellence: AI and Machine Learning Operationalization Software Market Surges at 42.9% CAGR

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The AI and machine learning operationalization software market encompasses a range of tools, platforms, and frameworks used to automate the deployment, administration, and scaling of AI and ML models in production contexts. This software simplifies the integration of AI and machine learning algorithms into business processes and applications, driving operational efficiency and cost reduction.

Market Size and Growth Drivers
The AI and machine learning operationalization software market size is projected to grow from $3.77 billion in 2023 to $5.36 billion in 2024, at a CAGR of 42.4%. The exponential growth in the historic period can be attributed to factors such as increased adoption of AI and ML, data explosion, demand for operational efficiency, and regulatory compliance. In the forecast period, the market is expected to grow to $22.33 billion in 2028, at a CAGR of 42.9%, driven by trends such as urbanization, rising adoption of AutoML, and increasing demand for streamlined processes.

Internet Penetration Driving Market Growth
The increased internet penetration is expected to propel the growth of the AI and machine learning operationalization software market. Enhanced internet infrastructure and consumer demand for connectivity have led to increased internet penetration rates. This trend enables 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 example, global internet penetration reached an estimated 5.3 billion people in 2022, representing 66% of the world's population, with a growth of 6.1% over 2021.

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Key Players and Market Trends
Major companies operating in the AI and machine learning operationalization software market, such as Amazon Web Services Inc., Google LLC, and Microsoft Corporation, are focusing on developing new technologically advanced infrastructure such as serverless AI and machine learning engines to gain a competitive edge. These serverless engines allow users to deploy and run AI and machine learning models without the need to provision or manage servers. For instance, Teradata Corp. launched the Teradata AI Unlimited platform on Amazon Web Services (AWS) cloud, offering serverless AI and machine learning engines, compute, and in-engine analytics, supporting a bring-your-own-model approach.

Segments:
• By Product Type: Cloud-based, Web-based
• By Functionality: Model Training and Experimentation, Model Deployment and Management, Model Monitoring and Governance, ML Workflow Automation
• By Application: Large Enterprises, Small and Medium Enterprises (SMEs)
• By Industry: Manufacturing, Finance, Healthcare, Retail, IT and Telecommunications, Other Industries

Geographical Insights: North America Leads, Asia-Pacific Emerges as Fastest-Growing Region
North America was the largest region in the AI and machine learning operationalization software market in 2023, driven by technological advancements and high adoption rates. Asia-Pacific is expected to be the fastest-growing region in the forecast period, fueled by increasing urbanization and adoption of hybrid and multi-cloud strategies.

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AI And Machine Learning Operationalization Software Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The AI And Machine Learning Operationalization Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on AI and machine learning operationalization software market size, AI and machine learning operationalization software market drivers and trends, AI and machine learning operationalization software market major players, competitors' revenues, market positioning, and market growth across geographies. The AI and machine learning operationalization software market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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