This Global Machine Learning as a Service (MLaaS) Market research report gives the most complete layout, investigation and estimation of the Global Machine Learning as a Service (MLaaS) Market. It depends on long periods of research and examination and the market model which was constructed dependent on long periods of involvement in the industry and a cozy comprehension of the market. The Global Machine Learning as a Service (MLaaS) Market report incorporates the most recent advancements in the worldwide business and significant components that influence by and large development of the market. The report is a one of a kind basic way to deal with estimating the Global Machine Learning as a Service (MLaaS) Market utilizing genuine information and essential sources. Because of this unpredictable model, the figures and themes shrouded in this report are both extensive and dependable.
Global Machine Learning as a Service (MLaaS) Market is set to witness a healthy CAGR of 44.53% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market value can be attributed due to the advancement in data science and artificial intelligence and an increasing need to understand the desires and needs of the customers.
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Major Market Competitors/Players
Few of the major competitors currently working in the global machine learning as a service (MLaaS) market are Microsoft, IBM CORPORATION, Amazon Web Services, Inc., Google Inc.., BigML, Inc., Fair Isaac Corporation, Hewlett Packard Enterprise Development LP, AT&T Intellectual Property, Yottamine Analytics, LLC, SAS Institute Inc., PurePredictive, Inc, H20.ai., Tamr, PREDICTRON Labs, LogDNA, DeepMind Technologies Limited, Figure Eight Inc., Amplero, Inc., Darktrace, Iflowsoft Solution Inc., among others.
Global Machine Learning as a Service (MLaaS) Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of machine learning as a service (MLaaS) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Global Machine Learning as a Service (MLaaS) Market By Component (Software Tools, Services), Application (Marketing & Advertising, Fraud Detection & Risk Analytics, Predictive Maintenance, Augmented Reality, Network Analytics & Automated Traffic Management. Others), Organization Size (Small & Medium Enterprises, Large Enterprises), End User (Education, Banking & Financial Services, Insurance, Automation & Transportation, Healthcare, Defense, Retail, E-Commerce, Media & Entertainment, Telecom, Government, Aerospace), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) – Industry Trends and Forecast to 2026
Machine learning as a service (MLaaS) refers to an array of services that cloud providers are offering like data visualization, API’s, face recognition, predictive analysis, deep learning, and natural language processing and risk analytics. Its user interface is easy through which a customer can get caught easily without any installation required. It uses various algorithms to find the data patterns and then new models are made to make predictions using the new gathered data.
- Surge in the adoption rate of cloud based technology globally, is driving the growth of the market
- Strong desire among the companies to understand the behavioral pattern and needs and desires of their customers, which is boosting the market growth
- Advancement in technology like artificial intelligence and data sciences, is driving the growth of the market
- Increase in demand for machine learning in various end user industries, is driving the growth of the market
- Advent of IoT and automation in the market, is driving the growth of the market
- Various issues related to compliances and guidelines, is hindering the growth of the market
- Shortage of skilled technology experts who can deploy machine learning, is restricting the growth of the market
- Issues related to data privacy, is restricting the growth of the market
Key Developments in the Market:
- In July 2019, Amazon Web Services Inc., has introduced Predictive Maintenance using the machine learning solution that automates the detection of potential equipment failure and will prove the recommendations to take an action for it.
- In April 2019, Microsoft had created a platform which will integrate machine teaching which will assist deep reinforcement learning algorithms for confronting the real world problems. The scientists and product developers at Microsoft have originated a new approach known as machine teaching. This depends on the expertise and knowledge of the people to chunk out a problem in to simpler set of tasks and enabling the machine learning models and various clues for finding the solution.
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
Segmentation: Global Machine Learning as a Service (MLaaS) Market
- Software Tools
- Data Storage and Archiving
- Modeler and Processing
- Multiplayer Perceptron
- K-Nearest Neighbors
- Decision Tree
- Support Vector Regressions
- Cloud and Web-Based Application Programming Interface
- Model Validator
- Decision Report
- Report Storage
- Professional Services
- Managed Services
- Marketing and Advertising
- Fraud Detections and Risk Analytics
- Predictive Maintenance
- Augmented Reality
- Network Analytics and Automate Traffic Management
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By End User
- Banking and Financial Services
- Automotive and Transportation
- Media and Entertainment
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