Machine Learning As A Service Market Growth, Future Prospects And Competitive Analysis 2022

Market Overview:

The Global Machine Learning as a Service Market Was Estimated At USD 8.27 Billion In 2021 And Is Projected To Reach USD 69.71 Billion By 2028, Growing At A CAGR Of 35.6% Over The Analysis Period.

A wide range of services known as machine learning-as-a-service provides machine learning (ML) technologies as a part of cloud computing services. Tools including APIs, data visualization, natural language processing, predictive analytics, and facial recognition are provided by providers of machine learning as a service. The entire calculation is handled by the supplier's cloud computing infrastructure. A branch of artificial intelligence known as machine learning (ML) allows algorithms to be trained to produce classifications or predictions using statistical techniques, providing crucial insights for data mining operations. With the goal of influencing important growth KPIs, these insights drive decision-making within applications and organizations. Since it involves algorithms, model complexity, and computational complexity, it necessitates the development of these solutions by qualified people.

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Market Dynamics:

Driver:

The adoption of IoT and automation will rise, driving the market. IoT operations ensure that the hundreds or more devices connected to a business network are running safely and correctly and that the data being gathered is accurate and timely. Complex back-end analytics engines handle the heavy lifting of processing the data stream, but outdated methods are frequently used to verify the data's quality. Some providers of IoT platform technologies are enhancing their operations management expertise with machine learning technologies in order to take control of sizable IoT systems.

Opportunities:

The use of machine learning services in the healthcare sector to check ECG and MRI, as well as to detect cancer, expands the market. Major market opportunities are anticipated to be unlocked by the advantages provided by machine learning services, such as cost reduction, demand forecasting, real-time data analysis, and growth in the adoption of the cloud market.

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Market Coverage

•Available market numbers - 2022-2028
•Base Year - 2021
•Forecast Period - 2022-2028
•Segments covered - by Component, by Application, by End-Use Industry
•Competitive Landscape - Google LLC, Amazon Web Services, BigML, IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation

Market Segmentation

By Component

• Solutions
• Services

By Application

• Natural Language Processing
• Marketing & Advertising
• Fraud Detection & Risk Management
• Predictive analytics
• Others

By End-Use Industry

• BFSI
• Government & Defense
• Healthcare & Life Sciences
• Telecommunications
• Retail
• Others

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By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)

Major Key Players Considered in the Market
• Google LLC
• Amazon Web Services
• BigML
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• Oracle Corporation
• Hewlett Packard Enterprises
• AT&T
• FICO
• Sift-Science
• Yottamine Analytics
• Ersatz Labs
• Amazon Web Services
• SAP SE, And Other Major Players.

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Key Industry Development In The Machine Learning as a Service Market

In August 2022, Anaconda Inc. announced a partnership with Oracle Cloud Infrastructure to provide secure open-source Python and R tools and packages through the embedding and enabling of Anaconda's repository across OCI Artificial Intelligence and Machine Learning Services. Customers can access Anaconda services directly from OCI without the need for a separate enterprise license.

Table OF Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
Chapter 4: Market Landscape
Chapter 5: Machine Learning as a Service Market by Component
To Be Continued……

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