diff --git a/Dockerfile b/Dockerfile
index fb48cb4b..08fd3bb4 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -1,4 +1,4 @@
-# Copyright (c) 2020-2023, NVIDIA CORPORATION & AFFILIATES. All rights reserved.
+# Copyright (c) 2020-2025, NVIDIA CORPORATION & AFFILIATES. All rights reserved.
 #
 # Licensed under the Apache License, Version 2.0 (the "License");
 # you may not use this file except in compliance with the License.
@@ -12,11 +12,11 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-ARG BASE_IMAGE=nvcr.io/nvidia/tritonserver:24.12-py3
-ARG TRITONSDK_BASE_IMAGE=nvcr.io/nvidia/tritonserver:24.12-py3-sdk
+ARG BASE_IMAGE=nvcr.io/nvidia/tritonserver:25.01-py3
+ARG TRITONSDK_BASE_IMAGE=nvcr.io/nvidia/tritonserver:25.01-py3-sdk
 
-ARG MODEL_ANALYZER_VERSION=1.48.0dev
-ARG MODEL_ANALYZER_CONTAINER_VERSION=25.01dev
+ARG MODEL_ANALYZER_VERSION=1.49.0dev
+ARG MODEL_ANALYZER_CONTAINER_VERSION=25.03dev
 FROM ${TRITONSDK_BASE_IMAGE} as sdk
 
 FROM $BASE_IMAGE
diff --git a/VERSION b/VERSION
index 5fd5d860..5abe2365 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.48.0dev
+1.49.0dev