Machine Learning as a Service Market Market Dominates 2018: Sparkling and Value Added Options Surge - Google Inc., SAS Institute Inc., FICO • Hewlett Packard Enterprise

The global machine learning as a service market was valued at $571 million in 2016, and is projected to reach at $5,537 million by 2023, growing at a CAGR of 39.0% from 2017 to 2023. BFSI segment possesses maximum potential, which is expected to create lucrative opportunities for industry players.

Increased application areas, growth associated with IoT, cognitive computing, neural networks, deep learning technologies, and artificial intelligence (AI), and surge in demand for application-specific solutions drive the machine learning as a service market growth. In addition, recent innovations and growth in adoption of advanced solutions further fuel this growth.

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Major Market Players Included in This Report:

• Google Inc.
• SAS Institute Inc.
• FICO
• Hewlett Packard Enterprise
• Yottamine Analytics
• Amazon Web Services
• BigML, Inc.
• Microsoft Corporation
• Predictron Labs Ltd.
• IBM Corporation

Machine learning is designed to incorporate the functionalities of artificial intelligence (AI) and cognitive computing involving a series of algorithms and is used to understand the relationship between datasets to obtain a desired output. Machine learning as a service (MLaaS) incorporates range of services that offer machine learning tools through cloud computing services.

The current business scenario has witnessed surge in adoption of machine learning as a service in the developed and the developing regions, owing to the technological innovations in product offerings, increased need to improve performance and operational efficiency, rise in demand for analytical systems, and increase in application areas among end users. Furthermore, factors such as growth associated with IoT, cognitive computing, neural networks, deep learning technologies, and artificial intelligence (AI) are expected to provide numerous growth opportunities. However, lack of trained professionals is expected to restrict the growth of the machine learning as a service market during the forecast period.

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Promising Regions & Countries Mentioned In The Machine Learning as a Service Market Report:

• North America
• Europe
• Asia-Pacific
• LAMEA

The services segment dominated the machine learning as a service market in 2016, with around 73% revenue share of the global market. This is attributed to the improved IT infrastructure and increased cloud-related expenditures to cater to the untapped markets among the developing nations.

The IT and telecom segment dominated the global machine learning as a service market, with around 20% share in 2016, followed by BFSI segment. Furthermore, public sector segment is estimated to grow at the highest CAGR of 42.1%, owing to widespread adoption of advanced solutions and increased IT spending.

North America was the highest revenue contributor in 2016, accounting for around 43% share. However, Asia-Pacific is projected to grow at the highest CAGR of 45.5% during the forecast period.

LIST OF TABLES

TABLE 1. GLOBAL MACHINE LEARNING AS A SERVICE MARKET REVENUE, BY COMPONENT, 2016-2023 ($MILLION)
TABLE 2. SOFTWARE MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 3. SERVICES MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 4. GLOBAL MACHINE LEARNING AS A SERVICE MARKET REVENUE, BY ORGANIZATION SIZE, 2016-2023 ($MILLION)
TABLE 5. LARGE ENTERPRISES MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 6. SMALL AND MEDIUM ENTERPRISES MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. GLOBAL MACHINE LEARNING AS A SERVICE MARKET REVENUE, BY END-USE INDUSTRY, 2016-2023 ($MILLION)
TABLE 8. AEROSPACE AND DEFENSE MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 9. IT AND TELECOM MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 10. ENERGY AND UTILITIES MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 11. PUBLIC SECTOR MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 12. MANUFACTURING MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 13. BFSI MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 14. HEALTHCARE MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 15. RETAIL MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 16. OTHERS MACHINE LEARNING AS A SERVICE MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 17. GLOBAL MACHINE LEARNING AS A SERVICE MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 18. MARKETING AND ADVERTISING MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 19. FRAUD DETECTION AND RISK MANAGEMENT MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 20. PREDICTIVE ANALYTICS MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 21. AUGMENTED & VIRTUAL REALITY MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 22. NATURAL LANGUAGE PROCESSING MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 23. COMPUTER VISION MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 24. SECURITY AND SURVEILLANCE MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 25. OTHERS MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 26. MACHINE LEARNING AS A SERVICE MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 27. NORTH AMERICA: MACHINE LEARNING AS A SERVICE MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 28. EUROPE: MACHINE LEARNING AS A SERVICE MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 29. ASIA-PACIFIC: MACHINE LEARNING AS A SERVICE MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 30. LAMEA: MACHINE LEARNING AS A SERVICE MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 31. COMPANY SNAPSHOT: GOOGLE INC.
TABLE 32. COMPANY SNAPSHOT: SAS INSTITUTE INC.
TABLE 33. COMPANY SNAPSHOT: FICO
TABLE 34. COMPANY SNAPSHOT: HEWLETT PACKARD ENTERPRISE
TABLE 35. COMPANY SNAPSHOT: YOTTAMINE ANALYTICS
TABLE 36. COMPANY SNAPSHOT: AMAZON WEB SERVICES
TABLE 37. COMPANY SNAPSHOT: BIGML, INC.
TABLE 38. COMPANY SNAPSHOT: MICROSOFT CORPORATION
TABLE 39. COMPANY SNAPSHOT: PREDICTRON LABS LTD.
TABLE 40. COMPANY SNAPSHOT: IBM CORPORATION

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