The global machine learning as a service market is expected to witness a significant growth rate with the CAGR of 35% during the forecast period. Machine Learning is an application of computer science that offers computers an ability to learn and predict without being explicitly programmed. Technological advancement, the evolution of the Internet, innovation and rising demand for machine learning are some of the factors that contribute to the growth of the global machine learning as a service market. Machine learning has been highly useful to analyze, extract and interpret large chunks of data and has also simplified the tasks of data scientists. Additionally, the market has considerable demand for high-value predictions that can make decision making better and smart actions in real-time without human intervention.
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Machine learning has also overcome the lesser extent availability of computing power with such a high amount of data. As a result, machine learning has endless use in such computations with highly precise results which is another important factor for the growth of machine learning as a service industry. However, data security concerns and lack of professional skills in the domain are some of the restraints that may affect the market growth. Besides, due to growing innovations and technological advancements in machine learning algorithms, various effective and significant security mechanisms are expected to boost machine learning technology.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global MLaaS Market Report Segment
By Application
- Advertising and Marketing
- Natural Language Processing
- Automated Network Management
- User Behavior Analytics
- Others (Risk Detection and Analysis, Predictive Maintenance)
By Deployment
- Software Tools
- Cloud and Web-Based Application Programming Interface
By Vertical
- Education
- Banking and Financial Services
- Defense
- Others (Government, Healthcare and life sciences, Information Technology, Media and entertainment)
By services
- Professional Services
- Managed Services
Global MLaaS Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Machine learning as a service market. Based on the availability of data, information related to products and services, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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