Market Research Report
Machine Learning as a Service Market, By Deployment By End-use Application and by Region - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
|Published by||Coherent Market Insights||Product code||936198|
|Published||Content info||130 Pages
Delivery time: 2-3 business days
|Machine Learning as a Service Market, By Deployment By End-use Application and by Region - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027|
|Published: April 5, 2020||Content info: 130 Pages||
Machine learning as-a-service refers to various types of services that offer machine learning abilities as a part of cloud-computing services. MLaaS providers offer various machine learning tools including API, predictive analytics, deep learning, data visualization, natural language processing, etc. MLaaS assists its customers to gain advantage from machine learning without additional cost, risk, and time for creating an in-house internal machine learning team. A number of cloud computing service providers offer machine learning as a service including Amazon, IBM Corporation, and Microsoft Corporation. Moreover, MLaaS is offered on a limited trial basis for a developer to evaluate before committing to a particular platform. The major advantage that MLaaS offers to businesses is that it enables them to get started quickly with machine learning without undergoing tedious software installation processes. Companies can enhance their product capabilities and offerings, enhance regular business operation efficiency, make interaction with consumers easier, and use AI prediction capabilities.
In 20th century data is considered as new oil. Due to this many technology companies are heavily investing in data. These data may be structured and unstructured forms. It has become extremely crucial for these organizations to get a better insight into their data, in order to enhance efficiency and competitiveness. Moreover, many organizations are increasingly adopting machine learning as a service to analyze both structured and unstructured data for future predictions and also use it for further marketing purposes.
Moreover, cloud based data in continuously growing Cisco system Inc., anticipated in 2015, 65% of data was cloud based hoverer it is estimated that cloud based data will reach around 92% by 2020. As more and more companies are preferring cloud computing, it has become easy for them to adopt machine learning services. Moreover, as an ever-increasing number of organizations are leaning toward machine learning, it has gotten simple for them to receive machine learning services. Thus use of big data and increasing use of cloud technology are expected to drive growth of the global machine learning as a service (MLaaS) market during the forecast period.
This report segments the global machine learning as a service (MLaaS) market on the basis of Deployment, End Use application and region. On the basis of Deployment, global machine learning as a service (MLaaS) market is segmented into Public Cloud and Private Cloud/Virtual Private Cloud. On the basis of application, the global machine learning as a service (MLaaS) market is segmented into Manufacturing, Retail, Healthcare & Life Sciences, Telecom, Banking, Financial services and Insurance (BFSI) and Others (Energy & Utilities, Government, Education etc.). On the basis of region, global machine learning as a service (MLaaS) market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.