United State-Machine learning is a process of data analysis that comprises of statistical data analysis performed to derive desired predictive output without the implementation of explicit programming. It is designed to incorporate the functionalities of artificial intelligence (AI) and cognitive computing involving a series of algorithms and is used to understand the relationship between datasets to obtain a desired output. Machine learning as a service (MLaaS) incorporates range of services that offer machine learning tools through cloud computing services.
The global machine learning as a service market was valued at $571 million in 2016, and is projected to reach $5,537 million by 2023, growing at a CAGR of 39.0% from 2017 to 2023.
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Market Statistics:
The file offers market sizing and forecast throughout 5 primary currencies USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2030 are viewed as the forecast period.
Increased penetration of cloud-based solutions, growth associated with artificial intelligence and cognitive computing market, and increase in market for prediction solutions drive the market growth. In addition, growth in IT expenditure in emerging nations and technological advancements for workflow optimization fuel the demand for advanced analytical systems driving the machine learning as a service market growth. However, dearth of trained professionals is expected to impede the machine learning as a service market share. Furthermore, increased application areas and growth of IoT is expected to create lucrative opportunities for machine learning as a service market growth.
The global machine learning as a service market is segmented based on component, organization size, end-use industry, application, and geography. The component segment is bifurcated into software and services. Based on organization size, it is divided into large enterprises and small & medium enterprises. The application segment is categorized into marketing & advertising, fraud detection & risk management, predictive analytics, augmented & virtual reality, natural language processing, computer vision, security & surveillance, and others. On the basis of end-use industry, it is classified into aerospace & defense, IT & telecom, energy & utilities, public sector, manufacturing, BFSI, healthcare, retail, and others. By geography, the machine learning as a service market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players that operate in the machine learning as a service market are Google Inc., SAS Institute Inc., FICO, Hewlett Packard Enterprise, Yottamine Analytics, Amazon Web Services, BigML, Inc., Microsoft Corporation, Predictron Labs Ltd., and IBM Corporation.
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KEY BENEFITS FOR STAKEHOLDERS
This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global machine learning as a service market.Porters Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.Current and future trends adopted by the key market players are highlighted to determine overall competitiveness.The quantitative analysis of the machine learning as a service market growth from 2017 to 2023 is provided to elaborate the market potential.
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2027. In todays society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyses the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology (ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries.
Key Market Segments
By Component
SoftwareServicesBy Organization Size
Large EnterprisesSmall & Medium Enterprises
By End-Use Industry
Aerospace & DefenceIT & TelecomEnergy & UtilitiesPublic sectorManufacturingBFSIHealthcareRetailOthers
By Application
Marketing & AdvertisingFraud Detection & Risk ManagementPredictive analyticsAugmented & Virtual realityNatural Language processingComputer visionSecurity & surveillanceOthers
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By Geography
North AmericaU.S.CanadaMexicoEuropeUKFranceGermanyRest of EuropeAsia-PacificChinaJapanIndiaRest of Asia-PacificLAMEALatin AmericaMiddle EastArica
Key players profiled in the report
Google Inc.SAS Institute Inc.FICOHewlett Packard EnterpriseYottamine AnalyticsAmazon Web ServicesBigML, Inc.Microsoft CorporationPredictron Labs Ltd.IBM Corporation
Table of Content:
What is the goal of the report?
Key Questions Answered in the Market Report
How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies? What is the outlook for the impact market during the forecast period 2021-2030? What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration? What is the end user perception toward? How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021? What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration? What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration? What are the key strategies adopted by companies in the impact market? What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030? What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market? Who are the key end users of pharmaceutical quality? What is their respective share in the impact market? Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030? Which are the key players in the impact market?
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