Machine Learning As A Service (MLaaS) Market Size, Share, Trends and Forecast 2022-2027

According to the latest report by IMARC Group, titled, "Machine Learning as a Service (MLaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global machine learning as a service (MLaaS) market reached a value of US$ 3.90 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.67 Billion by 2027, exhibiting at a CAGR of 36.80% during 2022-2027.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Overview:

A wide range of techniques are employed in machine learning to create useful models out of unstructured data. Machine learning as a service (MLaaS) helps identify the benefits of cost-effective data storage and assists in setting up effective data governance. These solutions are widely used across various sectors, such as information technology (IT), telecom, automotive, healthcare, aerospace and defense.

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Machine Learning as a Service (MLaaS) Market Trends and Drivers:

The increasing use of digital transformations across many industries is a primary driver of the global market. Additionally, many firms use MLaaS extensively in their cybersecurity and online fraud detection systems. Coupled with the increasing adoption of cloud-based services across the globe, this is providing an impetus to the market growth. Furthermore, the rising demand for consumer behavior analysis and continual advancements in network connectivity technology have positively influenced the market growth. Other factors, including significant growth in the IT sector, the growing need for operational excellence and the widespread adoption of cloud-based solutions in the banking, financial services and insurance (BFSI) sector, have also created a positive outlook for the market.

Machine Learning as a Service (MLaaS) Market 2022-2027 Competitive Analysis and Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global machine learning as a service (MLaaS) market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on component, organization size, application and end user.

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.

Amazon.com Inc.
Bigml Inc.
Fair Isaac Corporation
Google LLC (Alphabet Inc.)
ai Inc.
Hewlett Packard Enterprise Development LP
Iflowsoft LLC
International Business Machines Corporation
Microsoft Corporation
MonkeyLearn
Sas Institute Inc.
Yottamine Analytics Inc.

Breakup by Component:
Software
Services

Breakup by Organization Size:
Small and Medium-sized Enterprises
Large Enterprises

Breakup by Application:
Marketing and Advertising
Fraud Detection and Risk Management
Predictive Analytics
Augmented and Virtual Reality
Natural Language Processing
Computer Vision
Security and Surveillance
Others

Breakup by End User:
IT and Telecom
Automotive
Healthcare
Aerospace and Defense
Retail
Government
BFSI
Other

Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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