Machine Learning as a Service Market Top Key Player are Google Inc., IBM Corporation, Big MI Inc., Amazon Web Services, FICO, Microsoft Corporation, Yottamine Analytics, Ersatz Labs Inc., Fuzzy.ai, Predictron Labs Ltd and Hewlett Packard Enterprise

Machine Learning as a Service Market Overview:
Machine learning integrates a wide range of services, solutions and techniques closely related to artificial intelligence (AI), which performs a statistical analysis of input data to understand its current relationships and performance for future. Machine learning uses large amount of input data to provide improved analytical results while optimizing the workflow for various industry sectors. Machine learning as a Service (MLaaS) integrates a range of services that offer machine learning tools through cloud computing services.

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Machine Learning as a Service Market is estimated to reach USD 16.4 Billion by the year 2024 with a CAGR of 43.7%.

Drivers and Restraints:
The growth of IT spending in emerging countries and technological breakthroughs to optimize workflow are fueling the demand for advanced analytics systems, which is fueling the growth of the MLaaS market. In addition, the increased penetration of cloud-based solutions, the growth associated with the artificial intelligence and cognitive computing market, and the growing market for predictive solutions are also driving demand for machine learning as a service market. However, the shortage of qualified professionals is expected to limit MLaaS market growth over the forecast period. In addition, the increase in Machine Learning as service application areas is expected to generate lucrative opportunities for market expansion.

Geographical Segmentation:
Geographically Global Machine Learning as a Service Market is segmented into regions of Latin America, Middle East and Africa, North America, Europe and Asia Pacific regions. North America led the market among other regional segments in 2016, contributing USD 362,700 Million to the global market. The region is expected to maintain its dominant position during the forecast period supported by the growing demand for Internet of Things (IoT) and the rapid integration of machine learning as a service with big data and other newer technologies. The growth of the North American MLaaS market is driven primarily by the United States and Canada, as they are home to some well-established players such as Microsoft Corporation, Google Inc., Amazon Web Services Inc. and IBM Inc.

Asia Pacific is expected to show a significant growth rate in the coming years backed by the rapid adoption of advanced analytical technologies in the health and life sciences industry. Developments in the information technology sector are also working in favor of the Asia Pacific market.

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Key Players of the Machine Learning as a Service Market:
Major Key Players of the Global Machine Learning as a Service Market are Google Inc., IBM Corporation, Big MI Inc., Amazon Web Services, FICO, Microsoft Corporation, Yottamine Analytics, Ersatz Labs Inc., and Fuzzy.ai, Predictron Labs Ltd., Hewlett Packard Enterprise, H20.ai, Sift science Inc., and Datoin.

Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided.

The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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