Machine Learning As A Service Market By Deployment Model (Cloud-based, On-premise), By Application (Marketing & Advertising, Predictive Maintenance, Augmented Reality, Fraud Detection And Risk Analytics, Network Analytics And Automated Traffic Management, Others), By End-user (Retail, Telecom, Healthcare, Manufacturing, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Growing Adoption of Cloud-based Technologies to boost the demand for Machine Learning as a Service Market

The machine learning as a service market worldwide is estimated to grow with a CAGR of 35.4% throughout the forecast period from 2019 to 2027, starting from US$ 1,117.9 Mn in 2018. Growing cloud-based technologies need to understand consumer behavior, and rising technological advancements are the major factors driving the market growth. Massive technological disruptions along with digitization are another factor driving the market growth. Wide industrial applications of MLaaS are one of the major reasons for the market growth. The growth of the Big Data industry and the Internet of Things (IoT) will also boost the demand for the market. Therefore, we assume that the machine learning as a service market will show tremendous growth throughout the forecast period.

Market Synopsis

Network Analytics and Automated Traffic Management Segment to be the Fastest Growing Segment

The machine learning as a service market by application is segmented into marketing & advertising, predictive maintenance, augmented reality, fraud detection & risk analytics, and network analytics & automated traffic management. The network analytics & automated traffic management segment will be the fastest growing segment during the forecast period. As machine learning is an essential tool for automated traffic management & network analytics, the segment will grow. In addition, the growth of IT infrastructure and the introduction of Big Data analytics in the segment is another factor for the segment growth. Therefore, we expect that segment will show huge growth in years to come.

The Asia Pacific to be the Fastest Growing

In 2018, North America dominated the machine learning as a service market. North America contributed to around 1/2 of the global market revenue share in the same year. The market growth here is attributed to the rapid adoption of concepts such as Big Data Analytics, IoT, and others, along with the presence of major market players. On the other hand, we assume that the Asia Pacific region will be the fastest-growing region during the forecast period. Rising technological advancements and rapid adoption of cloud-based services in the region are the major factors for the fastest growth of the Asia Pacific. In addition, rising government investments in emerging economies are another factor in the region's fastest growth.

Some prominent players operating in the machine learning as a service market are Google Inc., Microsoft Corporation, IBM Corporation, Amazon Web Services, FICO, Yottamine Analytics, Ersatz Labs Inc., Prediction Labs Ltd, H2O.ai, and Sift-Science, among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The machine learning as a service market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of global machine learning as a service market based on deployment model, application end-user, and geography.

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