Global machine learning as a service market was marked at a USD of 0.4 billion in 2017 and expected to reach 4.01 billion in 2024 at a CAGR of 43.25%. Machine learning is a part of computer science that gives computers the ability to learn and understand things without being predefined programmed. It falls under the Artificial Intelligence used in various applications to analyse data often and to make real-time decisions with any human interface.

Global Machine Learning as A Service Market Share:

North America has the most significant share in this market followed by Europe. Adoption of the IOT technologies by industries considerable amount of data need to the accommodated. Companies are focusing on understanding the customer behaviour and trying to solve them efficiently. This is the crucial factor in investments in MLaaS solutions.

Global Machine Learning as A Service Market Size:

Due to the rapid growth in innovations in automation technologies, increase in adoption of cloud-based systems leads to market growth. Predictive analytics is used for the all online activities such as Amazon, Flipkart etc. Big data analytics drive the machine learning market.

Global Machine Learning as A Service Market Growth:

Asia-Pacific is the fastest growing market in this forecasting period. Growth in Cloud-based technologies and investments from the global companies gives good opportunities in middle east and Latin America regions.

Global Machine Learning as A Service Market Industry Analysis:

Global machine learning as a service is segmented into by application, by vertical and organisation size. By using is again subdivided into risk analytics and fraud management, predictive maintenance, advertising & marketing and automated network management. By vertical it is divided into retail, BFSI, Healthcare, automotive, IT, Media and Entertainment, Aerospace and Defense and government. By organisation, it is divided into small, big and medium enterprises.

Global Machine Learning as A Service Market Outlook:

In the upcoming years, other end-use industries namely BFSI, retail, manufacturing, telecom is expected to show demand for the MLaaS. To increase the decision-making capability of machines used in verticals. Public cloud segment is expected to grow large in the market. Artificial intelligence is supposed to have a substantial impact on health care.

Global Machine Learning as A Service Market trends:

Recently, Walmart labs have announced the acquisition of Inkriu, a company on machine learning. Tensor Flow is the new machine learning technology being a part of open source released by Google.

Global Machine Learning as A Service Market Research Report includes: