Machine Learning-as-a-Service (MLaaS) Market:
The GMI Research forecasts that the Machine Learning-as-a-Service (MLaaS) market is witnessing an upsurge in demand during the forecast period starting from 2020 till 2027. This is mainly due to the increasing need to understand the behavior of the customer and the rising adoption of cloud-based technology among organizations.
Machine Learning-as-a-Service (MLaaS) Market’s leading Manufacturers:
- Microsoft Corporation
- International Business Machine Corporation
- Google LLC
- Amazon Web Services
- BigML, Inc.
- FICO
- Hewlett Packard Enterprise Development LP
- SAS Institute Inc.
- Yottamine Analytics, LLC
- DataRobot, Inc.
- Algolytics
Machine Learning-as-a-Service (MLaaS) Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increasing need to understand the behavior of the customer and the rising adoption of cloud-based technology among organizations are the factors supporting the growth of the global machine learning-as-a-service market size. Moreover, MLaaS is being largely adopted by the industries to improve customer experience, which is surging the market’s growth. The ML is aiding to gain insights about customer behavior, buying pattern, and interest as it offers efficient data management.
The rapid advancement in technologies like Machine Learning (ML), Artificial Intelligence (AI), and learning and analytics technologies and increasing affordability of data storage is further creating various new opportunities for the market. Internet of Things (IoT), cognitive computing, deep learning, and other technologies are opening new doors for the growth of the global machine learning-as-a-service market. With the adoption of IoT and automation systems across the industries, the rising demand for MLaaS as the IoT, smart and connected technologies are producing a large amount of data, which can be used to retrieve profitable insights and analyzed. In addition to this, the leading manufacturing organizations are providing machine learning services and offering several options to run ML algorithms utilizing a cloud-based platform. On the other hand, limited skilled professionals to deploy ML services and government & compliance issues will restrain the global machine learning-as-a-service market growth.
Regional Drivers
Based on the region, North America is anticipated to increase at a higher CAGR in the upcoming years. North America region is one of the biggest users of advanced technologies such as big data and has a high penetration rate of machine learning services. Furthermore, the strong presence of leading players, including Google, IBM, Amazon Web Services, BigML, and Microsoft, is bolstering the growth of the MLaaS market in this region.
Machine Learning-as-a-Service (MLaaS) Market Segmentation:
Segmentation by Component:
- Software Tools
- Data Storage and Archiving
- Modeler and Processing
- Cloud and Web-Based Application Programming Interface
- Others
- Services
- Professional Services
- Managed Services
Segmentation by Application:
- Marketing and Advertising
- Fraud Detection and Risk Analytics
- Predictive Maintenance
- Augmented Reality
- Network Analytics and Automated Traffic Management
- Others
Segmentation by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Segmentation by Vertical:
- Education
- Banking and Financial Services
- Insurance
- Automotive and Transportation
- Healthcare
- Defense
- Retail and E-Commerce
- Media and Entertainment
- Telecom
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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