COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.The Machine Learning as a Service (MlaaS) report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. Machine Learning as a Service (MlaaS) Market Report Highlights key rising opportunities of the fastest growing Machine Learning as a Service (MlaaS) Market with Key Regions Considering assessment of the present market.
Global “Machine Learning as a Service (MlaaS) Market” Size report 2020 – 2024 gives complete analysis of industry position and viewpoint of main regions based on of major key players, country, product types, and end industries. Machine Learning as a Service (MlaaS) Market report categorizes the market based on manufacturers, regions, type and application. Machine Learning as a Service (MlaaS) Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Machine Learning as a Service (MlaaS) Market report categorizes the market based on manufacturers, regions, type, and application. Machine Learning as a Service (MlaaS) Market reports offer a detailed assessment of the Machine Learning as a Service (MlaaS) including enabling technologies, current market situation, market assumptions, restraining factors.
Report focuses on the global market, especially in United States, Europe, China, Japan, South Korea, North America, and India.
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Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.
Top-List of Key-players in 2020 of Machine Learning as a Service (MlaaS) Market:-
- Microsoft Corporation
- IBM Corporation
- Amazon Web Services
- Google Inc.
- Hewlett Packard Inc.
- Fair Isaac Corporation
- PurePredictive Inc
- Sift Science Inc
The Global Machine Learning as a Service (MlaaS) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
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The global MLaaS market is expected to register a CAGR of about 43.46% during 2018-2023 (the forecast period), to reach a value of USD 8.315 billion, by 2023, from USD 0.932 billion, as of 2017. The scope of this report is limited to the solutions that are offered by the major market players including service providers. The regions, considered in the scope of this report, include North America, Europe, and ‘others’. The study highlights the various applications of machine learning, such as predictive maintenance, risk analytics, and fraud detection, among various others.
With advancements in the data science and artificial intelligence technologies, the performance of machine learning has accelerated at a rapid pace. Companies are now identifying the potential of this technology, and therefore, the adoption rate of the same is expected to increase over the forecast period. Companies are offering machine learning solutions on a subscription-based model, making it easier for the consumers to take the advantage of this technology. MLaaS model is expected to dominate the market, with users having an option to choose from a wide variety of solutions that are focused on different business needs. Also, factors, such as the increasing adoption of cloud-based services, IoT, and automation, and the growing need for consumer behavior analysis are expected to drive the machine learning as a service market.
However, the security concerns and a lack of skilled personnel, to use these solutions, can act as the market restraints.
Increasing Adoption of IoT and Automation
The increasing rate of adoption for IoT and automation systems in industries is expected to drive the growth of adoption rate for MLaaS. Industrial automation already has over a billion connected devices deployed. Owing to IoT, the smart and connected technologies have increased the pace of data that is being created, exponentially. Thus, industries are finding opportunities to explore this data and devise new solutions, in order to improve the existing infrastructure and operating efficiencies. For instance, MLaaS providers, such as IBM, are providing utility IoT as a solution to implement analytics roadmap in support of asset health and reliability.
Growing Demand for Predictive Maintenance Solutions to Augment the Growth
Increasing deployment of IoT and smart sensors in the industry is enabling companies to deploy predictive maintenance models and eliminate the problems and faults before they could affect the equipment. Industries are now focusing on curbing additional costs and reducing downtime by eliminating failures. The sectors of manufacturing, energy & utility, and oil & gas are projected to be the largest consumers of this solution in the coming years. Manufacturing & production industry is likely to deploy IoT, in order to monitor the existing equipment and predict faults, thus enabling prior inspection and maintenance for eliminating failure.
North America to Witness the Highest Share
The swift market penetration and presence of large companies, working on the technology, are likely to influence the market growth. However, shifting focus toward automation and deployment of new technologies, to reduce costs, are likely to drive the APAC region at a faster growth rate. Moreover, the region has witnessed a tremendous increase in the number of start-ups involved in the business, which is further fuelling the market growth.
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The global Machine Learning as a Service (MlaaS) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of Machine Learning as a Service (MlaaS) Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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Finally, the report Global Machine Learning as a Service (MlaaS) Market 2020 describes the Machine Learning as a Service (MlaaS) industry expansion game plan, the Machine Learning as a Service (MlaaS) industry knowledge supply, appendix, analysis findings, and the conclusion.
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