DUBLIN--(BUSINESS WIRE)--The "Machine Learning as a Service Market by Component - Global Opportunity Analysis and Industry Forecast, 2016-2023" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
- Google Inc.
- SAS Institute Inc.
- Hewlett Packard Enterprise
- Yottamine Analytics
- Amazon Web Services
- BigML, Inc.
- Microsoft Corporation
- Predictron Labs Ltd.
- IBM Corporation
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Global Machine Learning As A Service Market, By Component
Chapter 5 Global Machine Learning As A Service Market, By Organization Size
Chapter 6 Global Machine Learning As A Service Market, By End-Use Industry
Chapter 7 Global Commercial Aircraft Heath Monitoring System Market, By Application
Chapter 8 Machine Learning As A Service Market, By Region
Chapter 9 Company Profiles
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