DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Machine Learning as a Service (MLaaS) Market by Component, Organization Size, Application, Service and Region - Global Forecast to 2021" report to their offering.
The MLaaS market size is estimated to grow from USD 613.4 million in 2016 to USD 3.7 billion by 2021.
MLaaS with the help of pattern recognition, advanced analytical methodologies, and APIs is able to make better decisions. With the use of machine learning algorithm, decision-making abilities improve over time without being explicitly programmed. However, the lack of skilled consultants to deploy machine learning services and government and compliance issues are limiting the growth of MLaaS solutions in the market.
North America is expected to hold the largest market share during the forecast period. One of the prime reasons for this is the increasing number of Small and Medium Enterprises (SMEs) in the MLaaS market providing customized services and solutions. As artificial intelligence is gaining momentum in North America, small players are providing machine learning solutions across multiple verticals as well as applications. Due to this, many major organizations in the market are also acquiring the smaller companies.
The growth of MLaaS in the region is fueled by the increased need for enterprise mobility and cloud-based solutions. In addition, the rapid expansion of enterprises in the region is another factor driving the growth of the MLaaS market.
- Amazon Web Services
- BigML, Inc.
- Ersatz Labs, Inc.
- Google, Inc.
- Hewlett-Packard Enterprise Development Lp.
- International Business Machine Corporation
- Sift Science, Inc.
- Yottamine Analytics, LLC
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Machine Learning as a Service Market Analysis, By Component
8 Machine Learning as a Service Market Analysis, By Application
9 Machine Learning as a Service Market Analysis, By Organization Size
10 Machine Learning as a Service Market Analysis, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
14 Key Innovators
For more information about this report visit http://www.researchandmarkets.com/research/239nv6/machine_learning