Machine Learning-as-a-Service Market was valued at USD 1801 million in 2019 and is expected to register a CAGR of 43.2% during the forecast period.

Machine Learning as a Service (MLaaS) is the range of services that offer machine learning tools based on cloud computing services. MLaaS vendors provide a model for distributing, operating, and monetizing ML algorithms using a cloud-based platform such as Amazon Web Service Machine Learning, Microsoft Azure Machine Learning Studio, IBM Watson, and others. MLaaS vendors offer developers services that involve predictive analytics, data modeling APIs, data transformations, face recognition, natural language processing, data visualizations, and machine deep learning algorithms.

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The major factors that are responsible for the growth of the global machine learning-as-a-service market are the increasing adoption of cloud-based technology among organizations and the growing requirement to understand the behavioral of the customer. In addition to this, MLaaS are being widely adopted by enterprise across the industries to enhance customer experience, which is also contributing to the growth of the market. The ML is helping to gain insights about customer behavior, buying pattern, and interest as it provides effective data management.

Additionally, advancement in technologies such as Artificial Intelligence (AI) and Machine Learning (ML) and learning and analytics technologies and increase in affordability of data storage is further opening new doors for the market growth. Internet of Things (IoT), deep learning, cognitive computing, and other technologies are creating numerous growth opportunities in the global machine learning-as-a-service market. With the increasing adoption of IoT and automation systems across the industries, there has been an increase in the demand for MLaaS as the IoT, smart and connected technologies are generating a massive amount of data, which can be analysed and used to retrieve profitable insights. Moreover, major key players are offering machine learning services and providing various option to run ML algorithms using a cloud-based platform. However, the lack of skilled professionals to deploy ML services and government & compliance issues may hamper the global machine learning-as-a-service market’s growth.

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Based on the component, the service segment is expected to dominate the market during the forecast period. The service segment is segmented into two major segments, professional services, and managed service. The professional service segment is expected to dominate the market owing to the growing deployment of machine learning solutions and the complexity of the operation. It comprises designing, planning, updating, and consulting services.

Based on the organization size, small and medium-sized enterprises segment is expected to grow at a higher CAGR during the forecast period. SMEs are extensively using MLaaS as the machine learning application provides dynamic data, and uses predictive analytic ML, algorithms offer real-time data. Additionally, SME uses MLaaS to meet customer expectations by providing them product demand predictions and suggestions. MLaaS offer the company with faster insights and allows better and quick decision making.

Based on the vertical, the retail segment is expected to grow at a faster CAGR during the forecast period. The retail industry is rapidly shifting into digital space. Companies such as Amazon, eBay, among others, are the prominent player in the digital revolution. Retail and E-commerce sector are adopting machine learning as-a-service to improve their customer experience and enhance operational efficiency.

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Based on the region, North America is expected to witness a higher CAGR during the forecast period. North America region has a higher penetration rate of machine learning services and high adoption towards the latest advancement in technologies such as integration of bigdata within machine learning services. Moreover, the presence of major players such as Amazon Web Services, Google, IBM, Microsoft, BigML, among others, is also contributing to the growth of the MLaaS market in this region.

Various notable players in the Machine Learning-as-a-Service (MLaaS) market include Microsoft Corporation, International Business Machine Corporation, Google LLC, Amazon Web Services, BigML, Inc., FICO, Hewlett Packard Enterprise Development LP, SAS Institute Inc., Yottamine Analytics, LLC, DataRobot, Inc., and Algolytics, among others.

Key Developments:

• • In Sep 2019, Hewlett Packard Enterprise (HPE) announced a launch of the container-based software solution “HPE ML Ops” to support the complete machine learning model lifecycle for the public and hybrid cloud environment and on-premises environments. The company also introduced the DevOps-like process with a new solution to standardize machine learning workflows and quicken AI deployments.
  • In May 2018, Microsoft Corporation announced the acquisition of Semantic Machines, a California-based company that deals with conversational AI. With this acquisition, the company will establish a conversational AI center of excellence in Berkeley to expand the presence and advance AI technology.

The Global Machine Learning-as-a-Service (MLaaS) market has been segmented based on the component, application, organization size, vertical, and region. Based on the component market is categorized into software tools and services. Based on software tools, the market is further segmented into data storage and archiving, modeler and processing, cloud and web-based application programming interface, and            others. Based on services, the market is further segmented into professional services and managed services. Based on the application, the market is segmented into marketing and advertising, fraud detection and risk analytics, predictive maintenance, augmented reality, network analytics and automated traffic management, and others. Based on the organization size, the market is segmented into small and medium enterprises and large enterprises. Based on vertical, the market is segmented into banking, Banking, and Financial Services, Insurance, Automotive & transportation, healthcare, defense, retail & e-commerce, media & e-commerce, media & entertainment, telecom, and others.

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Key questions answered in this research report:

• • At what pace is the global Machine Learning-as-a-Service market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global Machine Learning as-a-Service market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Machine Learning-as-a-Service market?
  • What are the various application areas of the global Machine Learning-as-a-Service market, and how they are poised to grow?
  • Which Component generated maximum revenues in 2019 and identify the most promising Component during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Machine Learning-as-a-Service (MLaaS) Market by Component

• • Software Tools
    • Data Storage and Archiving
    • Modeler and Processing
    • Cloud and Web-Based Application Programming Interface
    • Others
  • Services
    • Professional Services
    • Managed Services

Global Machine Learning-as-a-Service (MLaaS) Market by Application

• • Marketing and Advertising
  • Fraud Detection and Risk Analytics
  • Predictive Maintenance
  • Augmented Reality
  • Network Analytics and Automated Traffic Management
  • Others

Global Machine Learning-as-a-Service (MLaaS) Market by Organization Size

• • Small and Medium Enterprises
  • Large Enterprises

Global Machine Learning-as-a-Service (MLaaS) Market by Vertical

• • Education
  • Banking and Financial Services
  • Insurance
  • Automotive and Transportation
  • Healthcare
  • Defense
  • Retail and E-Commerce
  • Media and Entertainment
  • Telecom
  • Others

Global Machine Learning-as-a-Service (MLaaS) Market by Region

• • North America Machine Learning-as-a-Service (MLaaS) Market (Option 1: As a part of the free 25% customization)
    • North America Machine Learning-as-a-Service (MLaaS) Market by Component
    • North America Machine Learning-as-a-Service (MLaaS) Market by Application
    • North America Machine Learning-as-a-Service (MLaaS) Market by Organization Size
    • North America Machine Learning-as-a-Service (MLaaS) Market by Vertical
    • US Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Canada Machine Learning-as-a-Service (MLaaS) Market All-Up
  • Europe Machine Learning-as-a-Service (MLaaS) Market (Option 2: As a part of the free 25% customization)
    • Europe Machine Learning-as-a-Service (MLaaS) Market by Component
    • Europe Machine Learning-as-a-Service (MLaaS) Market by Application
    • Europe Machine Learning-as-a-Service (MLaaS) Market by Organization Size
    • Europe Machine Learning-as-a-Service (MLaaS) Market by Vertical
    • UK Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Germany Machine Learning-as-a-Service (MLaaS) Market All-Up
    • France Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Spain Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Rest of Europe Machine Learning-as-a-Service (MLaaS) Market All-Up
  • Asia-Pacific Machine Learning-as-a-Service (MLaaS) Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Machine Learning-as-a-Service (MLaaS) Market by Component
    • Asia-Pacific Machine Learning-as-a-Service (MLaaS) Market by Application
    • Asia-Pacific Machine Learning-as-a-Service (MLaaS) Market by Organization Size
    • Asia-Pacific Machine Learning-as-a-Service (MLaaS) Market by Vertical
    • China Machine Learning-as-a-Service (MLaaS) Market All-Up
    • India Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Japan Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Rest of APAC Machine Learning-as-a-Service (MLaaS) Market All-Up
  • RoW Machine Learning-as-a-Service (MLaaS) Market (Option 4: As a part of the free 25% customization)
    • RoW Machine Learning-as-a-Service (MLaaS) Market by Component
    • RoW Machine Learning-as-a-Service (MLaaS) Market by Application
    • RoW Machine Learning-as-a-Service (MLaaS) Market by Organization Size
    • RoW Machine Learning-as-a-Service (MLaaS) Market by Vertical
    • Brazil Machine Learning-as-a-Service (MLaaS) Market All-Up
    • South Africa Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Saudi Arabia Machine Learning-as-a-Service (MLaaS) Market All-Up
    • UAE Machine Learning-as-a-Service (MLaaS) Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Machine Learning-as-a-Service (MLaaS) Market All-Up

Major Players Operating the Machine Learning-as-a-Service (MLaaS) (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft Corporation
  • International Business Machine Corporation
  • Google LLC
  • Amazon Web Services
  • BigML, Inc.
  • FICO
  • Hewlett Packard Enterprise Development LP
  • SAS Institute Inc.
  • Yottamine Analytics, LLC
  • DataRobot, Inc.
  • Algolytics