Machine Learning as a Service Market growing a healthy CAGR of 40.3% in the forecast by 2026

Author: Onkar Nimbalkar

Analysis of Global Machine Learning as a Service (MLaaS) report:

Global Machine Learning as a Service (MLaaS) Market accounted for USD 821.1 million in 2016 growing at a CAGR of 40.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Definition:

Machine learning as a service refers to a number of services cloud providers are offering. MLaaS providers offer tools including data visualization, APIs, face recognition, natural language processing, predictive analytics and deep learning. It has its wide application in education, banking and financial services, insurance, automotive and transportation, healthcare, defense, retail and e-commerce, media and entertainment, telecom, others.

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Major market drivers & restraints: Global Machine Learning as a Service (MLaaS) Market

  • Adoption of cloud-based technologies
  • Strong need to understand customer behavior
  • Technological advancement
  • Government and compliance issues
  • Lack of skilled consultants to deploy machine learning services

Leading Key players profiled in this report are:

Some of the major players of the global machine learning as a service (MLaaS) market are Microsoft, IBM Corporation, Amazon Web Services, Inc., Google, Inc., BigML, Inc., Fair Isaac Corporation, Hewlett Packard Enterprise Development LP, others.

Global Machine Learning as a Service (MLaaS) Market Segmentation:

  • The global machine learning as a service (MLaaS) market is segmented on the basis of component into software tools, services. The software tools segment is further sub segmented into data storage and archiving, modeler and processing, cloud and web-based application programming interface, others. The services segment is further sub segmented into professional services, and managed services.
  • On the basis of application, the global machine learning as a service (MLaaS) market is segmented into marketing and advertising, fraud detection and risk analytics, predictive maintenance, augmented reality, network analytics and automated traffic management, and others.
  • On the basis of organization size, the global machine learning as a service (MLaaS) market is segmented into small and medium enterprises, and large enterprises.
  • On the basis of vertical, the global machine learning as a service (MLaaS) market is segmented into education, banking and financial services, insurance, automotive and transportation, healthcare, defense, retail and e-commerce, media and entertainment, telecom, others.
  • On the basis of geography, the global machine learning as a service (MLaaS) market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.

The Global Machine Learning as a Service (MLaaS) market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Machine Learning as a Service (MLaaS) market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.

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Company Share Analysis: Global Machine Learning as a Service (MLaaS) Market

The report for machine learning as a Service (MLaaS) market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

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