Machine Learning as a Service Market (Component - Software, and Services; Application - Marketing & Advertising, Fraud Detection & Risk Management, Predictive Analytics, Augmented & Virtual Reality, Security & Surveillance, and Others; End User - Retail, Manufacturing, BFSI, Healthcare & Life Sciences, Telecom, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024

Machine learning is the fastest growing fields in computer science. It is an array of services that provide machine learning tools as part of cloud computing services. It offers ready-made, slightly generic machine learning tools that can be adapted by any organization as a part of their working needs. Machine learning as a service is a composite that receives raw data from data sources through its send training set service.

Growing automation and advancement in technology driving the machine learning as a service market. Further need for cost-effective predictive solutions among end-use industries, increasing concerns for security and growing need for applications for support during an emergency are provides a growing demand for the market. Additionally, the growing demand for understanding customer behavior in terms of machine learning is also propelling the market. However, a lack of skilled consultants to deploy machine learning services hindering the growth of the market. Moreover, rapidly growing investments in the healthcare industry, an increase in data from IoT platforms offer immense opportunities for machine learning as a service market.

In terms of region, the global machine learning as a service market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America holds the largest market share and is estimated to dominate the global market during the forecast period. This is mainly due to the growing demand for machine learning as a service with a huge amount of data and other innovative technologies along with the increasing demand for the Internet of Things (IoT). Further, increasing awareness and sustainable growth of the IT sector in the region provides growth to the market in this region. Meanwhile, Asia-Pacific is expected to grow at a beneficial rate over the forecast period. Emerging countries like India and China, are major players increasing the demand for machine learning as a service market

Segment Covered

The report on global machine learning as a service market covers segments such as component, application, and end user. On the basis of component, the sub-markets include software, and services. On the basis of application, the sub-markets include marketing & advertising, fraud detection & risk management, predictive analytics, augmented & virtual reality, security & surveillance, and others. On the basis of end user, the sub-markets include retail, manufacturing, BFSI, healthcare & life sciences, telecom, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as IBM, PREDICTRON LABS, H2O.ai., Google LLC, Crunchbase Inc., Microsoft, Yottamine Analytics, LLC, Fair Isaac Corporation., BigML, Inc., and Amazon Web Services, Inc.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of machine learning as a service market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.