Machine Learning as a Service Market Size And Forecast
Global Machine Learning as a Service Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Machine Learning as a Service Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Machine Learning as a Service Market was valued at USD 1.76 Billion in 2019 and is projected to reach USD 27.94 Billion by 2027, growing at a CAGR of 41.2% from 2020 to 2027.
What is Machine Learning as a Service?
Machine Learning as a Service (MLaaS) is the service type that offers the range of machine learning components and tools as the subcategory of cloud computing services. Machine learning is an integration of artificial intelligence and cognitive computing functionalities that also involves the computing algorithms and data sets. The tools and services offered include face recognition, natural language, deep learning, predictive analysis, and data visualization. It allows the processing of huge expandable datasets using automatic and accelerating applications.
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Global Machine Learning as a Service Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Machine Learning as a Service Market is experiencing tremendous growth owing to the innovation in the technology and rising number of research and development activities across the globe. In addition, the growing adaption of the cloud-based platform is another key factor accelerating the growth of the market. Moreover, the increasing focus on customer-centric behavior is imposing a positive impact on market growth. However, the stringent compliance issues and a dearth of expertise is hindering the growth of the market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Machine Learning as a Service Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Machine Learning as a Service Market Competitive Landscape
The “Global Machine Learning as a Service Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as FICO,IBM Corporation, Amazon Web Services, Microsoft, Hewlett Packard Enterprises, Google, Inc., BigML Inc., AT&T, Fuzzy.ai, and Yottamine Analytics. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Machine Learning as a Service Market, By Component
• Software Tools
o Cloud and Web-based Application Programming Interface (APIs)
o Data Storage and Archiving
o Others
• Services
o Managed Services
o Professional Services
o Others
Machine Learning as a Service Market, By Application
• Network Analytics and Automated Traffic Management
• Augmented Reality
• Predictive Maintenance
• Risk Analytics and Fraud Detection
• Others
Machine Learning as a Service Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
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