Global Insights on Machine Learning as a Service (MLaaS) Market to 2028 by Drivers, Opportunities, and Key Players
2021 - 2028 Global Machine Learning as a Service (MLaaS) Market
The Global Machine Learning as a Service (MLaaS) Market is accounted for $2.42 billion in 2021 and is expected to reach $23.04 billion by 2028 growing at a CAGR of 38.0% during the forecast period. Machine learning as a service incorporates a comprehensive range of services and solutions and techniques interrelated closely to artificial intelligence which performs statistical analysis of input data to know its current or future relationship and performance. With massive digital transformations and technological disruptions being witnessed across diverse industry users, machine learning technology is surprising even the technology experts with new commercially viable use cases and a plethora of diverse industrial applications that it brings along with it. Machine learning as a service (MLaaS) incorporates range of services that offer machine learning tools through cloud computing services.
The network analytics and automated traffic management segment is estimated to have a lucrative growth due to the exceptional growth of data across verticals. Asia Pacific is projected to have the highest CAGR over the forecast period due to the increasing awareness, sustainable growth of IT sector in the region, positive growth, and development of IoT technology sector in the region. North America is projected to hold the largest market share during the forecast period, as this region has been extremely responsive towards adopting the latest technological advancements such as integration technologies with cloud, big data within machine learning services.
Some of the key players profiled in the Machine Learning as a Service (MLaaS) Market include Amazon Web Services, Inc., AT&T Intellectual Property, Claire Global, DeepMind Technologies Limited, Fair Isaac Corporation, Figure Eight Federal Inc, Google LLC, Hewlett Packard Enterprise Development LP, Hyundai Motor Company, IBM Corporation, Microsoft Corporation, PurePredictive, Inc, SAS Institute Inc., and Yottamine Analytics Inc.
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