Competitive Landscape and Key Trends in the ModelOps Market: Forecasting Growth to 2029

Webersnits17 Sep, 2024News

The ModelOps Market is 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, short for Model Operations, is the systematic approach to managing and operationalizing machine learning models within an enterprise. It encompasses the end-to-end model development, deployment, monitoring, and maintenance lifecycle. ModelOps aims to ensure models are deployed efficiently, perform reliably, and are updated as needed to adapt to changing data and business conditions. This discipline integrates best practices from DevOps, data engineering, and data science to streamline workflows, enhance collaboration, and improve the scalability and governance of AI initiatives, thereby maximizing their value and alignment with organizational objectives.