Global Machine Learning as a Service (MLaaS) Market Outlook: IndustryInsights & Opportunity Evaluation, 2016-2024

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Machine Learning as a Service Market Overview

Machine learning refers to the artificial intelligence software which predicts

the outputs without any explicit program. Instead of supervising the

unsupervised program, machine learning learns from the environment and

generates data accordingly. It is widely being used for predictive analysis, face

recognition, big data analysis and other applications. Many companies are

adopting machine learning to enhance their productivity and operational

efficiency.

Market Size and Forecast

Global machine learning as a service market is anticipated to flourish at a

robust CAGR of 40.2% during the forecast period. In 2012, global machine

learning as a service market was estimated at a valuation of USD 0.5 Million.

Further, the market of machine learning as a service was valued at USD 1.1

Billion in 2016 and is expected to garner USD 20.1 Billion by the end of 2024.

Rising adoption of IoT across the globe is the dynamic factor behind the

growth of the machine learning as a service market during the forecast period.

Geographically, North America accounted for more than 35% market share in

2016. Further, the region is expected to continue its dominance over the

forecast period on the account of rising adoption of machine learning as a

service. Furthermore, presence of major players in the region such as Google,

Microsoft Corporation, IBM and Amazon webs services is envisioned to

bolster the growth of the machine learning as a service market. In the North

America region, U.S. captured the largest market share in 2016.

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Asia Pacific is projected to grow at a significant pace over the forecast period. Positive growth and development of information technology sector in the region is expected to swell the demand for the machine learning as a service. Apart from this, rising adoption of advanced analytics tools in healthcare is expected to fuel the growth of machine learning as a service market. Europe region is predicted to grow at a significant pace and create substantial demand for machine learning as a service market during the forecast period. Rising adoption of machine learning by the European banks to increase the product sales is expected to swell the demand for the machine learning in the region.

On the basis of deployment type, global machine learning as a service market has been segmented into public cloud and private cloud. Public cloud has been a leading segment in the recent years and is expected to continue its dominance over the forecast period.

Market Segmentation

Our in-depth analysis has segmented global machine learning as a service market into the following segments:

By Deployment Type

Public CloudPrivate CloudBy End Use ApplicationManufacturingRetailHealthcare & Life SciencesBFSITravel & HospitalityOther (Energy, Feedstock & Utilities)

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By Region

Global machine learning as a service market is further classified on the basis of region as follows:• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity

Analysis• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y

growth & Opportunity Analysis• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,

Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis

• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis

• Middle East and North Africa (GCC, North Africa, South Africa & Rest of Middle East & Africa) Market Size and Y-O-Y Growth Analysis

Growth Drivers & Challenges

Increasing adoption of advanced analytics tools by various industries is expected to escalate the growth of the machine learning as a service market. Furthermore, rising focus towards customer in order to increase the sales of the company is anticipated to trigger the growth of machine learning as a service market. Additionally, many companies are adopting machine learning to improve the performance and operational efficiency. These factors are anticipated to fuel the growth of machine learning as a service market.

Apart from this, rising trend of digitalization is fuelling the growth of the machine learning as a service market globally. Moreover, rise in adoption of cloud based platforms is expected to positively impact the growth of the machine learning as a service market.

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In contrast, lack of qualified and skilled persons is believed to dampen the growth of the machine learning as a service market. Furthermore, rising concern toward data privacy is anticipated to restrain the development of machine learning as a service market.

Key Players

Google Inc.

Company Overview

Key Product Offerings

Business Strategy

SWOT Analysis

Financials

IBM Corporation

Microsoft Corporation

Tata Consultancy Services

Amazon Web Services

Hewlett Packard

Big MI Inc.

Fair, Issac and Company (FICO)

Yottamine Analytics

Predictron Labs Ltd.

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Market Dynamics

• Supply & Demand Risk

• Competitive Landscape

• Porter’s Five Force Model

• Geographical Economic Activity

Segmentation

• The global machine learning as a service market is segmented as follows:

• By Deployment Type Market Size & Y-O-Y Growth Analysis• By End Use Application Market Size & Y-O-Y Growth Analysis• By Region Market Size & Y-O-Y Growth Analysis

Key Players (respective SWOT Analysis) and their Strategies

and Product Portfolio

• Recent Trends and Developments

• Industry Growth Drivers and Challenges

• Key Information for Players to establish themselves in current

dynamic environment

Scope and Context

• Overview of the Parent Market

• Analyst View

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