In this rapidly changing environment, need for understanding customer behavior is ever increasing. This is driving the machine learning as a service market. The increasing adoption of internet of things (IoT) and big data responsible to drive the Machine learning as a service (MLaaS) market.
Observing the current trend and advancements in technologies the study indicates a sudden hike in Machine Learning as a Service (Mlaas) Market. The Machine learning as a service (MLaaS) market is driven by many factors such as adoption of cloud-based technologies, innovations in automation technologies and others. By adoption of machine learning as a service there is no need to download or install any software. The major challenge of machine learning as a service is lack of historical data, this would be one of the major restraining factor for machine learning as a service (MLaaS) market.
The Machine learning as a service (MLaaS) Market is growing rapidly over 40% of CAGR and is expected to reach at USD ~4630 Billion by the end of forecast period.
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The prominent players in the machine learning as a service (MLaaS) Market are- Google (U.S.), BigML (U.S.), Microsoft (U.S.), IBM (U.S.), Amazon Web Services (U.S.), AT&T (U.S.), Fuzzy.ai (Canada), Yottamine Analytics (U.S.), Ersatz Labs, Inc. (U.S.), and Sift Science, Inc. (U.S.) among others
Machine learning as a service (MLaaS) Market Segmentation
The Machine learning as a service (MLaaS) market has been segmented on the basis of component, application, organization size, deployment and end-user. Looking through the End-user segment it’s been observed that healthcare segment would dominate the Machine learning as a service (MLaaS) market. It has been observed that there is a need for handling the structured and unstructured data generated by the electronic health record (EHR). The study reveals that considering the deployment segment, the cloud based Machine learning as a service (MLaaS) shows a significant growth due to the increasing adoption of cloud technologies and is expected to show a sudden hike by the forecast period.
Market Research Analysis:
Regional analysis for Machine learning as a service (MLaaS) market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Machine learning as a service (MLaaS) market. The study indicates that North America region has high technological developments and high adoption of internet of things (IoT) this has resulted in the growth of Machine learning as a service (MLaaS) market in North America region. The study reveals that Asia-Pacific region is expected to show a significant growth in Machine learning as a service (MLaaS) market by the forecast period. Asia-Pacific countries like China, India and Korea are investing in internet of things.
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- Machine learning as a service (MLaaS) vendors
- Resellers and distributors
- Technology investors
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Network solution providers
- Independent software vendors
- Managed Security Service Providers (MSSPs)
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