Machine Learning as a Service Market Size, Share & Industry Forecast Report, 2020-2027

The GMI Research's latest analysis reveals that the Machine Learning-as-a-Service Market is slated to register a higher CAGR over the forecast period. This is attributed to the rising need to understand the customer's behavior, the rise in affordability of data storage, and the strong adoption of cloud-based technology across companies.

DUBLIN, DUBLIN -- (SBWIRE) -- 03/08/2021 -- Machine Learning-as-a-Service Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The rising need to understand the behavior of the customer and the strong adoption of cloud-based technology particularly among organizations are the major factors responsible for the growth of the global machine learning as a service market size. Moreover, MLaaS is largely adopted by enterprises across the sectors to improve customer experience, which will further drive the growth of the machine learning-as-a-service market. The ML helps gain insights related to customer behavior, purchasing pattern, and interest owing to its ability to effectively manage data.

The rapid technological advancement, which include Machine Learning (ML), Artificial Intelligence (AI), learning and analytics technologies, and the rise in affordability of data storage, will further create lucrative growth opportunities in the market. According to the machine learning-as-a-service market forecast, deep learning, the Internet of Things (IoT), cognitive computing, and other technologies are expected to open new doors for market growth. With the high adoption of IoT and automation systems across the sectors, there has been an upsurge in demand for MLaaS as IoT and connected technologies are producing a wide amount of data, which can be analyzed and utilized to retrieve profitable insights. In addition to this, the leading players are providing machine learning services and offering several options to perform ML algorithms utilizing a cloud-based platform. On the other hand, a shortage of skilled professionals to deploy ML services and government & compliance concerns will hinder the growth of the market.

Request for a FREE Sample Report on Machine Learning-as-a-Service Market

Machine Learning-as-a-Service Market's leading Manufacturers:

- Microsoft Corporation
- International Business Machine Corporation
- Google LLC
- Amazon Web Services
- BigML, Inc.
- Hewlett Packard Enterprise Development LP
- SAS Institute Inc.
- Yottamine Analytics, LLC
- DataRobot, Inc.
- Algolytics

Vertical Segment Drivers

Based on the vertical, retail is projected to witness a faster CAGR over the coming years due to shift to digital space. Enterprises including eBay, and Amazon are the major players in the digital revolution. The E-commerce and Retail industry are adopting machine learning as-a-service to enhance their customer experience and better operational efficiency.

To Know More About Machine Learning as a Service Market

Regional Drivers

Based on region, North America is projected to rise at a higher CAGR over the forecast period due to the increasing penetration rate of machine learning services and the strong adoption of the latest advancement in technologies, including introduction of big data within machine learning services. Additionally, the strong presence of leading players like Google, Microsoft, Amazon Web Services, BigML, and IBM will further contribute to the growth of the market.

Machine Learning-as-a-Service Market Segmentation:

Segmentation by Component:

- Software Tools

o Data Storage and Archiving
o Modeler and Processing
o Cloud and Web-Based Application Programming Interface
o Others

- Services

o Professional Services
o Managed Services

Segmentation by Application:

- Marketing and Advertising
- Fraud Detection and Risk Analytics
- Predictive Maintenance
- Augmented Reality
- Network Analytics and Automated Traffic Management
- Others

Segmentation by Organization Size:

- Small and Medium Enterprises
- Large Enterprises

Segmentation by Vertical:

- Education
- Banking and Financial Services
- Insurance
- Automotive and Transportation
- Healthcare
- Defense
- Retail and E-Commerce
- Media and Entertainment
- Telecom
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

For more information on this press release visit:

Media Relations Contact

Sarah Nash
Telephone: +353 1 442 8820
Email: Click to Email Sarah Nash

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.