Nov 1, 2017   SOURCE: PR NewsWire

Machine Learning as a Service Market, 2023

DUBLIN, November 1, 2017 /PRNewswire/ --

The "Machine Learning as a Service Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023" report has been added to Research and Markets' offering.

http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

Machine Learning as a Service (MLaaS) Market will witness a CAGR of 49% during the forecast period 2017-2023

The market is propelled by certain growth drivers such as the increased application of advanced analytics in manufacturing, high volume of structured and unstructured data, the integration of machine learning with big data and other technologies, the rising importance of predictive and preventive maintenance, and so on. The market growth is curbed to a certain extent by restraining factors such as implementation challenges, the dearth of skilled data scientists, and data inaccessibility and security concerns to name a few.

The market has been analyzed and segmented by the following components - Software Tools, Cloud and Web-based Application Programming Interface (APIs), and Others.

The market has been analyzed and segmented by the following end-users, namely process industries and discrete industries. The application of machine learning is much higher in discrete than in process industries.

The market has been analyzed and segmented by the following deployment mode, namely public and private.

The Americas is experiencing a high adoption rate of machine learning in manufacturing processes. The demand for enterprise mobility and cloud-based solutions is high in the Americas. The manufacturing sector is a major contributor to the GDP of the European countries and is witnessing AI driven transformation. China's dominant manufacturing industry is extensively applying machine learning techniques. China, India, Japan, and South Korea are investing significantly on AI and machine learning. MEA is also following a high growth trajectory.

Market Dynamics

Drivers

    --  Rising Importance of Predictive and Preventive Maintenance
    --  Increased Adoption of Advanced Analytics in Manufacturing
    --  Integration of Machine Learning with Big Data and Other Technologies
    --  High Volume of Structured and Unstructured Data

Restraints

    --  Implementation Challenges
    --  Rigid Business Models
    --  Dearth of Skilled Data Scientists
    --  Affordability of Organizations
    --  Data Security Concerns and Data Inaccessibility

Opportunities

    --  Untapped Manufacturing Data
    --  Digitization Wave in Manufacturing

    --  Increasing Complexities in Manufacturing Processes

Key Topics Covered:

1 Industry Outlook

2 Report Outline

3 Market Snapshot

4 Market Outlook

5 Market Characteristics

6 Trends, Roadmap and Projects

7 Geographic Segmentation: Market Size & Analysis

8 Global Generalist

9 Companies to Watch for

Companies Mentioned 

    --  Amazon Web Services (Subsidiary of Amazon.com, Inc.)
    --  BigML, Inc.
    --  Citrine Informatics Inc.
    --  Eigen Innovations Inc.
    --  Google Inc. (Parent company- Alphabet Inc.)
    --  IBM Corporation
    --  Microsoft Corporation
    --  Seldon Technologies Ltd.
    --  Sight Machine

For more information about this report visit https://www.researchandmarkets.com/research/czmprd/machine_learning

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/machine-learning-as-a-service-market-2023-300547333.html

SOURCE Research and Markets