Market Synopsis of Machine Learning as a Service (MLaaS) Market
Machine learning as a service refers to a range of services which offer machine learning tools as a part of cloud computing services, these tools include data visualization, APIs, face recognition, natural language processing, predictive analytics and deep learning. The main advantage of machine learning as a service is that customer can get started quickly with machine learning without downloading and installing any software at their end. Machine learning as a service delivers developers services which include data modeling APIs, machine learning algorithms, data transformations and predictive analytics.
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The increased volume of data and diverse data to be handled qualitatively, are major factors driving the growth of Machine Learning as a Service (MLaaS) market. The innovations in automation technologies and increasing adoption of cloud-based systems is boosting the growth of machine learning as a service market. Apart from it availability of data storage at a cheaper rate and adoption of Internet of Things (IoT) is also driving the Machine Learning as a Service (MLaaS) market. The study indicates that lack the historical data is one of the major restraining factor in the growth of machine learning as a service (MLaaS) market.
Machine learning as a Service (MLaaS) market is segmented on the basis component, application, organization size, deployment and end-user. It has been observed that adoption of cloud technologies has become worldwide, this has resulted in increase of demand for cloud-based machine learning as a service (MLaaS).
The global Machine Learning As A Service (Mlaas) Market is expected to grow at USD ~4630 Million by 2022, at ~40% of CAGR between 2016 and 2022.
The prominent players in the machine learning as a service (MLaaS) Market are- Google (U.S.), BigML (U.S.), Microsoft (U.S.), IBM (U.S.), Amazon Web Services (U.S.), AT&T (U.S.), Fuzzy.ai (Canada), Yottamine Analytics (U.S.), Ersatz Labs, Inc. (U.S.), and Sift Science, Inc. (U.S.) among others
Study Objectives of Machine Learning as a Service (MLaaS) Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Machine Learning as a Service (MLaaS) market.
- To provide insights about factors affecting the market growth.
- To analyze the Machine Learning as a Service (MLaaS) market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of type, technology and end user.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Machine Learning as a Service (MLaaS)
Machine learning as a Service (MLaaS) by Component:
- Software tools
- Cloud based APIs
- Web based APIs
Machine learning as a Service (MLaaS) by Application:
- Network analytics
- Predictive maintenance
- Augmented reality
- Marketing and advertising
- Risk analytics and fraud detection
Machine learning as a Service (MLaaS) by Organization size:
- Large enterprises
Machine Learning as a Service (MLaaS) by Deployment Type:
- On premise
Machine Learning as a Service (MLaaS) by End-user:
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The regional analysis of machine learning as a service (MLaaS) market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. The study indicates that North America region would dominate the machine learning as a service (MLaaS) market by the forecast period followed by Europe owing to the major developments in the field of machine learning as a service witnessed in countries such as the U.S. and Canada. The study also indicates that U.S. and Canada are hub of large as well as start-ups vendors in the North America region .The study indicates that Asia-Pacific countries like China, Japan, South Korea, India and others are highly investing in R&D. The study reveals that Asia-Pacific region would show a positive growth in machine learning as a service (MLaaS) market by the forecast period.
- Machine learning as a service (MLaaS) vendors
- Resellers and distributors
- Technology investors
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Network solution providers
- Independent software vendors
- Managed Security Service Providers (MSSPs)
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