With the emergence of need for new computing technologies, the machine learning as a service market has emerged drastically from the past where an organisation need critical, reliable and faster ways to learn from the data already available and provide insights. The evolution of artificial intelligence enabled researchers to adopt new iterative models for machine learning and when these models are exposed to new data they are able to learn independently.
With recent advances in science and technology, particularly in machine learning, organisations need to adopt more comprehensive analytics strategies rather than basic analytics as large volumes of data is needed to be analyzed. Machine learning draws from numerous fields of study—artificial intelligence, data mining, statistics, and optimization.
Many organisation are adopting machines learning as a service (MLaaS) rather than in-house development due to various Organizational Challenges like talent scarcity etc., and Data Challenges like need of reliable and quality data. The organisations also face Infrastructure Challenges like lack of proper storage facilities and hardware for computation.
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Market drivers & challenges
Major markets drivers for Machine learning as Service (MLaaS) market increased volume of data and diversity in the data available which need to be studied qualitatively. The other driver for Machine learning as service market was data storage became more affordable and cheaper.
The other major market driver for the Machine learning as Service market (MLaaS) is Recommendation systems which are usedacross a wide range of industries, most notably online shopping sites which help organisation to get deeper insights about the customer behavior by helping them discover new and relevant offers thereby leading to stronger customer relationships and higher sales for the business.
The other major factor driving Machine learning as Service market (MLaaS) is some organizations need to make important decision during real time where machine learning models provide best predictions.
The biggest challenge in adopting Machines Learning as Service (MLaaS) by many organisations was the “cold start” problem wherein they lack the historical data needed to provide recommendations where in organisation first create a feedback lack that test user responses in order to make further recommendations which can improve over time.
Market Overview
North America region is dominant in Machine Learning as a Service Market due to growing demand from large enterprises and startup companies in North America and followed by Western Europe during the period. Asia-Pacific region is expected to grow at a faster rate during the forecast period.
Key Market Players
Some of the Key players in Machine Learning as a Service Market include Google, Amazon Web Services, IBM Corporation, Microsoft Corporation, SAS Institute Inc., BigML, Inc., DataRobot, Inc., FICO (Fair Isaac Corporation), Yottamine Analytics, LLC, and Algolytics.
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The report covers exhaustive analysis on
- Global Machine Learning as a Service Market segments
- Global Machine Learning as a Service Market dynamics
- Historical Actual Market Size, 2015 – 2016
- Global Machine Learning as a Service Market size & forecast 2017 to 2027
- Ecosystem analysis
- Global Machine Learning as a Service Market current trends/issues/challenges
- Competition & Companies involved technology
- Value Chain
- Global Machine Learning as a Service Market drivers and restraints
Regional analysis for global Machine Learning as a Service Market includes development of these technologies in the following regions
- North America
- Latin America
- Europe
- Eastern Europe
- Asia Pacific
- Japan
- The Middle East and Africa
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Machine Learning as a Service Market: Segmentation
Global Machine Learning as a Service Market is segmented based on the, type, vertical and region.
On basis of Type global Machine Learning as a Service Market can be segmented to
- Supervised learning
- Unsupervised learning
- Semi supervised learning
- Reinforcement learning web
- mobile
On the basis of vertical global Machine Learning as a Service Market is segmented into
- BFSI
- Government
- healthcare
- retail
- energy
- transportation
- Others
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Check Related Links –
https://hackmd.io/@tanmayb4733/SJa7yRtbs
https://www.mioola.com/tanmayb45/post/53714397/
https://amanroad.com/blogs/45904/Cloud-ELN-Service-Market-Research-Report-by-Type-by-Production
https://bresdel.com/blogs/247295/Cloud-ELN-Service-Market-2022-Segmentation-and-Analysis-by-Recent
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