Machine Learning as a Service (MLaaS) - Global Market Outlook (2016-2022)
According to Stratistics MRC, the Global Machine Learning as a Service (MLaaS) market is expected to grow from $ 480.94 million in 2015 to reach $5,394.87 million by 2022 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.
Professional services are expected to have the majority share in Machine Learning as a Service (MLaaS) market during the forecast period as majority of the companies do not have the proficiency to productively manage infrastructure and hence, they outsource these services to third-party partners to maintain a level of security and safety. North America is likely to embrace the leading market share during the forecast period. One of the major reasons for this is rising number of Small and Medium Enterprises (SMEs) in the MLaaS market providing customized services and solutions. Due to this, several main organizations in the market are also acquiring the smaller companies.
The key players in the Machine Learning as a Service (MLaaS) market are identified as AT&T, Amazon Web Services, BigML, Inc., Ersatz Labs, Inc., FICO, Fuzzy.Ai, Google, Inc., Hewlett-Packard Enterprise Development Lp., International Business Machine Corporation, Microsoft, Sift Science, Inc. and Yottamine Analytics, LLC.
Organization Size Covered:
• Small Enterprises
• Medium Enterprises
• Large Enterprises
• Augmented Reality
• Fraud Detection and Risk Analytics
• Marketing and Advertising
• Network Analytics and Automated Traffic Management
• Predictive Maintenance
• Other Applications
• Software Tools
o Cloud and Web-Based Application Programming Interface
o Data Storage and Archiving
o Modeler and Processing
o Other software tools
o Professional Services
o Managed Services
End Users Covered:
• Automotive and Transportation
• Banking and Financial Services
• Media and Entertainment
• Retail and E-Commerce
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South 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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