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Machine Learning as a Service (MLaaS) Market Is Forecast to Witness a Astonishing Growth By 2028 | Key Players: Microsoft, IBM Corporation,Amazon Web Services, Google, among Others

05-31-2020 05:43 PM CET | IT, New Media & Software

Press release from: QUINCE MARKET INSIGHTS

Machine Learning as a Service (MLaaS) Market

Machine Learning as a Service (MLaaS) Market

This detailed market study covers machine learning as a service (MLaaS) market growth potentials which can assist the stake holders to understand key trends and prospects in machine learning as a service (MLaaS) market identifying the growth opportunities and competitive scenarios. The report also focuses on data from different primary and secondary sources, and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global machine learning as a service (MLaaS) market.

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Machine Learning as a Service (MLaaS) is an collection of software offering cloud computing services with machine learning resources. Service providers for machine learning offer devices including APIs, data visualization and facial recognition, natural language processing and profound learning. The actual computation is carried out by the data centers of the company. MLaaS enables clients benefit from machine learning without the associated operating costs, time and risk of setting up an internal machine learning team. Infrastructural concerns such as pre-processing data, model training, model evaluation, and data prediction can be reduced through MLaaS.

The global machine learning as a service (MLaaS) market can be classified as per the type, organization size, application, end user and region. In terms of application, the market can be bifurcated into marketing & advertising, fraud detection & risk analytics, predictive maintenance, augmented reality, network analytics, and automated traffic management. Based on end user the market is segmented into BFSI, IT & telecom, automobile, healthcare, defense, retail, media & entertainment, and communication. The healthcare is expected to be the largest end users of the machine learning technology in the machine learning as a service (MLaaS) market during the forecast timespan.

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The market has been studied for North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Machine learning as a service (MLaaS) market is expected to grow with a rapid pace in the Asia Pacific region due to its emerging economies like China, India, Japan being the major contributors in the region.

The North America and Western Europe regions are estimated to register a stable demand during the forecast period with market recovery from recent slowdowns. North America region includes the US, Canada, and Mexico. The US is estimated to dominate this market with a sizeable share followed by Canada, and Mexico. The industrial sector is a major contributor to the US and Canada economies overall. Hence, the supply of advanced materials in production activities is critical to the overall growth of industries in this region.

Western Europe region is dominated by Germany, the UK, France, Italy, and Spain. These countries also have a strong influence on the industrial sector resulting in sizeable demand for machine learning as a service (MLaaS) market. Asia Pacific is estimated to register the highest CAGR by region during the forecast period. The presence of some of the high growth economies such as China and India is expected to propel the demand in this region. Besides, this region has witnessed strategic investments by major companies to increase their market presence. The Middle East and Eastern Europe are estimated to be other key regions for the machine learning as a service (MLaaS) market with a strong market potential during the forecast period. Rest of the World consisting of South America and Africa are estimated to be emerging markets during the forecast period.

The market is highly fragmented with the presence of many large and small market players. The key players in the market Microsoft, IBM Corporation, International Business Machine, Amazon Web Services, Google, Bigml, Fico, Hewlett-Packard Enterprise Development, At&T, Fuzzy.ai, Yottamine Analytics, Ersatz Labs, Inc., and Sift Science Inc among others have been profiled in the study to provide a competitive view about the market. Their strategies to consolidate their shares or positions, and their insight into brand positioning strategies for key traction players are studied here. The analysis in the report looks at the investment patterns of leading players more closely.

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Key Developments:
o In April 2019, Microsoft developed a platform that uses machine teaching to help deep reinforcement learning algorithms to address real-world problems.
o In November 2018, Amazon announced the expansion of its machine learning services to healthcare organizations. Amazon Translate, Amazon Comprehend, and Amazon Transcribe are now HIPAA compliant.

Market Segmentation:

By Type:
o Special Services
o Management Services

By Organization Size:
o SMEs
o Large Enterprises

By Application:
o Marketing & Advertising
o Fraud Detection & Risk Analytics
o Predictive Maintenance
o Augmented Reality
o Network Analytics
o Automated Traffic Management

By End User:
o BFSI
o IT & Telecom
o Automobile
o Healthcare
o Defence
o Retail
o Media & Entertainment
o Communication

By Region:

North America
o By Country (US, Canada, Mexico)
o By Type
o By Organization Size
o By End User
o By Application

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Organization Size
o By End User
o By Application

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Organization Size
o By End User
o By Application

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Organization Size
o By End User
o By Application

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Organization Size
o By End User
o By Application

Rest of the World
o By Region (South America, Africa)
o By Type
o By Organization Size
o By End User
o By Application

Reasons to Buy This Report:
o Market size estimation of the global Machine Learning as a Service (MLaaS) market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: APAC +91 706 672 4848 / US +1 208 405 2835 / UK +44 121 364 6144
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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