HOME Press Releases Machine Learning as a Service (MLaaS) Market worth 3,755.0 Million by 2021



Machine Learning as a Service (MLaaS) Market worth 3,755.0 Million by 2021


The report "Machine Learning as a Service (MLaaS) Market by Component (Software Tools, Services), Organization Size, Application (Marketing, Risk Analytics & Fraud Detection, Predictive Maintenance, Network Analytics), Service and Region - Global Forecast to 2021", The MLaaS market size is estimated to grow from USD 613.4 Million in 2016 to USD 3,755.0 Million by 2021, at a CAGR of 43.7% from 2016 to 2021. The major forces driving this market are the adoption of cloud-based technologies and strong need to understand customer behavior. The high demand for private clouds among enterprises is also promoting cloud-based applications that help boost the adoption of MLaaS solutions in the networking market.

     Download PDF Brochure     Speak to Analyst     Inquiry Before Buying

Browse 72 market data tables and 51 figures spread through 137 pages and in-depth TOC on “Machine Learning as a Service (MLaaS) Market by Component (Software Tools, Services), Organization Size, Application (Marketing, Risk Analytics & Fraud Detection, Predictive Maintenance, Network Analytics), Service and Region - Global Forecast to 2021”
http://www.marketsandmarkets.com/Market-Reports/machine-learning-as-a-service-market-183667795.html
Early buyers will receive 10% customization on reports.

The Small and Medium Businesses (SMBs) segment is expected to grow at the highest CAGR in the MLaaS market during the forecast period

SMBs prefer MLaaS as the data provided by the machine learning application is dynamic. With the help of predictive analytics machine learning, algorithms not only give real-time data but also predict the future. SMBs can use machine learning solutions for fine-tuning their supply chain by predicting a product demand and providing suggestions on the timing and quantity of supplies required in order to meet customers’ expectations.

The professional segment is expected to hold the largest market share in the MLaaS market during the forecast period

A majority of the companies do not have the expertise to successfully manage infrastructure and hence, they outsource these services to third-party partners to maintain a level of security and safety. Professional services include designing, planning, upgrading, and consulting services. The growth of the professional services segment is mainly governed by the complexity of operations and increasing deployment of  machine learning solutions. Professional services are categorized into three types, namely, deployment & integration, support & maintenance, and consulting services.

North America is expected to contribute the largest market share and will continue to grow at the highest rate

North America has been the most forward towards adopting Machine Learning Services. Furthermore, this region has been extremely responsive towards adopting the latest technological advancements such as integration technologies with cloud, Big Data within Machine Learning Services. North America is foremost in deploying machine learning services into many applications and domains.

The major vendors in the MLaaS market include Microsoft, Amazon Web Services (AWS), Hewlett Packard Enterprises (HPE), Google, Inc., BigML Inc., FICO and IBM Corporation.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports