The Global Machine Learning as a Service (MLaaS) Market is expected to grow at a CAGR of 42% during 2017-2022. Machine Learning is an application of computer science that offers the computers an ability to learn and predict without being explicitly programmed. It is a type of Artificial Intelligence that has originated from the study of computational learning and pattern recognition techniques. Machine learning as a service is a term used for a range of services that provide machine learning tools as part of cloud computing services. Technological advancement, evolution of Internet, innovation and rising demand for machine learning services will continue boost market growth in near future. Machine learning has been highly useful to analyse, extract and interpret large chunks of data and has also simplified the tasks of data scientists. Additionally, this market is has considerable demand for high-value predictions that can make decision making better and smart actions in real time without human intervention. Machine learning has also overcome the lesser extent availability of computing power with such high amount of data. As a result, machine learning has seen its endless use in such computations with highly pr?cised results which are another important factor for the growth of this market.
Data Security concerns and lack of professional skills in the domain are some of the restraints that may affect the market growth. However, due to growing innovations and technological advancements in machine learning algorithms, various effective and significant security mechanisms are expected to boost machine learning technology. Additionally, a large number of new machine learning technologies and the skilled professionals are expected in future due to the rising awareness of machine learning and its services across the globe.
North America has been contributing highest in the growth of global machine learning as a service market owing to well established communication network in the region followed by Europe. Most of the machine learning as service market players are based in the U.S. and are contributing significantly in the growth of the market. APAC has been growing with a highest growth rate due to rising investment, favourable government policies and growing awareness. Recently in 2017, Google launched the ’Google Neural Machine Translation’ for 9 Indian languages which uses machine learning and artificial neural network to increases the fluency as well as accuracy in their Google Translate.
The key players in the global video analytics market includes Amazon Web Services, Amplero, AT & T, BigML Inc., Crowdflower, Darktrace, Deep Mind, Ersatz Labs Inc., FICO, H2O.ai, Hewlett Packard Inc., IBM Corporation, LogDNA, Microsoft Corporation, Predictron labs Ltd, Pure Predictive Inc., Sift Science Inc., Tamr Inc., Yottamine Analytics and so on. The key strategies adopted by these players include mergers and acquisition, high quality data assets for training algorithms, product launch, crowd sourcing and expansion. The companies such as ’The Common Crawll’, ’Yahoo’ and ’Cretio’ are examples of the organizations which contain such highly available data sets as it contains peta bytes of free raw data collected over years of web crawling and then offers it to the research community which helps it in training learning algorithms.
Global Machine Learning as a Service Market is segmented on the basis of applications, their deployment, end-user Services and industry Verticals. The End-user market is generating noticeable revenue due to their diverse applications in the industries. They are being highly adopted by the various industries including BFSI, Healthcare, IT & Telecommunication, Retail, and Education and so on, due to the adoption of several advanced analytics services. Global Machine Learning as a Service market can be segmented in the following four major categories:
Machine Learning As A Service Market by Applications
Machine Learning As A Service Market by Deployment
Machine Learning As A Service Market by Vertical
Machine Learning As A Service Market by Services
OMR Report covers:
Comprehensive research methodology of Global Machine Learning as a Service Market
This report also includes detailed and extensive market overview with Analyst insights & key market trends.
Exhaustive Analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global Machine Learning as a Service Market.
Insights about market determinants which are stimulating the Global Machine Learning as a Service Market
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.