Machine Learning as a Service (MLaaS) Market Analysis & Industry Forecast 2016-2024

Posted on 2018-11-21 by Goldstein Research in Internet & Online, Technology // 0 Comments

New York,USA, 2018-Nov-21 — /EPR Network/ —

According to Goldstein Research, global machine learning as a service market is expected to reach USD 16.4 billion by 2024 from an estimated market size of USD 0.9 billion in 2016, growing at a CAGR of 43.7% over the forecast period 2016-2024. The increasing penetration of global artificial intelligence market in multiple industries is primarily driving the growth of machine learning as a service market.

Global machine learning as a service market segmentation has been done on the basis of services, deployment, applications, end users, and geography. Geographically, global machine learning as a service industry is dominated by North America with nearly 40.0% market share in 2016, owing to the strong presence of market players in the region. Asia Pacific region is witnessed to provide huge growth prospects and thus during 2016-2024 the APAC machine learning as a service market is expected to grow at 45.0% CAGR.

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Market Segmentation

Global Machine Learning as a Service (MLaaS) Market can be segmented as follows:

By Services

Predictive/Prescriptive Analytics
Cyber Analytics
IoT Analytics
Customer and Social Analytics

By Deployment

Public Cloud
Private Cloud

By Applications

Advertising & Marketing
Predictive Maintenance
Automated Network Management
Risk Analytics and Fraud Detection
Other

End Users

IT Sector
Telecom Industry
Automotive Sector
Manufacturing Sector
Healthcare Sector
Aerospace and Defense
Retail and E-Commerce Industry
Media and entertainment
BFSI (Banking, Financial Services, and Insurance)
Other (Education, Government Organizations etc.)

By Region

North America Machine Learning As A Service Market Analysis, 2016-2024
Europe Machine Learning As A Service Market Analysis, 2016-2024
The Middle East And Africa Machine Learning As A Service Market Analysis, 2016-2024
Latin America Machine Learning As A Service Market Analysis, 2016-2024
Asia Pacific Machine Learning As A Service Market Analysis, 2016-2024
Rest Of The World Machine Learning As A Service Market Analysis, 2016-2024

Moreover, growing penetration of internet and rising deployment of IoT systems require the need for efficient handling of huge generated data. This significantly enlarges the investments in machine learning as a service market as well as global big data market for data analyzing and to make real-time decisions without any human interference. Many different machine learning processes and algorithms are developed and used to extract important knowledge from data such as consumer behavior, weather forecasting, scientific modeling among others.

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“Global Machine Learning as a Service Market Outlook 2024” contains the detailed overview of the global machine learning as a service market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by services, deployment, applications, end users, and geography.

The Global MLaaS market report highlights the competitive outlook of key players in the industry and the company profiling includes analysis of business strategies, revenue distribution by different segments, financial reports, investments by the company and other information to provide the business outlook.

Key players of the global machine learning as a service market discussed in the report are IBM Corp., Microsoft Corp., Amazon Web Services, Google Inc., BigML Inc., Hewlett Packard Inc., FICO, PurePredictive Inc., SAS Institute Inc., DataRobot, Prediction Labs Ltd., etc.

Further, Global Machine Learning as a Service Market Report encompasses the market drivers, trends, opportunities, challenges, risk analysis, market attractiveness, SWOT analysis, Porter’s five force model and BPS analysis. The market analysis report also includes the market share, market size, growth rate, and relevant statistics related to the industry to provide in-depth knowledge to the stakeholders in the market in order to formulate market strategies.

About Goldstein Research

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Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on advanced future technologies industry analysis reports helping various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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