The Global Machine Learning as a Service (MLaaS) market is expected to grow from $ 679.32 million in 2016 to reach $ 7620.18 million by 2023 with a CAGR of 41.2%
The Global Machine Learning as a Service (MLaaS) market is expected to grow from $ 679.32 million in 2016 to reach $ 7620.18 million by 2023 with a CAGR of 41.2%
NEW YORK, March 21, 2018 /PRNewswire/ -- According to Stratistics MRC, the Global Machine Learning as a Service (MLaaS) market is expected to grow from $ 679.32 million in 2016 to reach $ 7620.18 million by 2023 with a CAGR of 41.2%. Rising investments in the healthcare business, emerging multiple options in application areas, enhanced connectivity and enlargement in data from IoT platforms are the current trends in machine learning as a service market. Strong need to recognize consumer behaviour, acceptance of cloud-based technologies, and advancements in technologies are some of the major factors enhancing the market growth. However, the lack of trained consultants to organize machine learning services and government & compliance issues are restraining the growth of MLaaS solutions market.
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On the basis of organization, small and medium businesses segment is projected to adopt machine learning service. With the help of predictive analytics machine learning, algorithms not only give real-time data but also predict the future. Machine learning solutions are used by small and medium businesses for fine-tuning their supply chain by forecasting the demand of a product and by suggesting the timing and quantity of supplies essential for satisfying the customers' expectations.
North America is expected to capture significant growth during forecast period. High adoption rate of new technologies and huge demand for technologies like machine learning and big data are expected to drive the machine learning market in this region.
Some of the key players in the Machine Learning as a Service (MLaaS) market are identified as Microsoft, AT&T, FICO, Ersatz Labs, Inc., International Business Machine Corporation, Fuzzy.Ai, Amazon Web Services, Hewlett-Packard Enterprise Development Lp., Google, Inc., Yottamine Analytics, LLC, Sift Science, Inc., BigML, Inc. and iCarbonX.
Applications Covered:
-- Network Analytics and Automated Traffic Management
-- Augmented Reality
-- Predictive Maintenance
-- Fraud Detection and Risk Analytics
-- Marketing and Advertising
-- Other Applications
End Users Covered:
-- Education
-- Automotive and Transportation
-- Telecom
-- Banking and Financial Services
-- Retail and E-Commerce
-- Media and Entertainment
-- Insurance
-- Healthcare
-- Defense
-- Other End Users
Components Covered:
-- Services
-- Software Tools
Organization Sizes Covered:
-- Small and Medium Enterprises
-- Large Enterprises
Regions Covered:
-- North America
o US
o Canada
o Mexico
-- Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
-- Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
-- South America
o Argentina
o Brazil
o Chile
o Rest of South America
-- Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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