Machine Learning as a Service (MLaaS) Market Report 2022-2027: Industry Share, Size and Forecast

Machine Learning as a Service (MLaaS) Market

IMARC Group expects the market to reach US$25.67 billion by 2027 growing at a CAGR of 36.80% during the period 2022-2027.

SHERIDAN, WYOMING, USA, Jan. 31, 2022 /EINPresswire.com/ — According to the IMARC Group’s latest report, “Machine Learning as a Service (MLaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global machine learning as a service (MLaaS) market reached a value of US$3.90 billion in 2021. Looking ahead, IMARC Group expects that the market reaches US$25.67 billion by 2027, exposing at a CAGR of 36.80% over the period 2022-2027.

Machine learning includes a large set of algorithms used to derive valuable patterns from raw data. Machine learning as a service (MLaaS) helps identify the benefits of cost-effective data storage and helps implement effective data governance. These solutions are widely used in various industries, such as information technology (IT), telecommunications, automotive, healthcare, aerospace and defense.

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Market trends

The global market is mainly driven by the increasing digital transformations in several industries. Additionally, MLaaS are widely used in cybersecurity and online fraud detection systems in many organizations. Coupled with the growing adoption of cloud-based services across the globe, this is giving impetus to the growth of the market. Additionally, the growing demand for consumer behavior analysis and continuous advancements in network connectivity technology have positively influenced the growth of the market. Other factors, including the significant growth of the IT sector, the growing need for operational excellence and the widespread adoption of cloud-based solutions in the banking, financial services and insurance (BFSI) sector, have also created a positive outlook for the market.

Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of key players.

com inc.
Bigml Inc.
Just Isaac Corporation
Google LLC (Alphabet Inc.)
have inc.
Hewlett Packard Enterprise Development LP
Iflowsoft LLC
International Commercial Machinery Society
Microsoft Corporation
MonkeyLearn
Sas Institute Inc.
Yottamine Analytical Inc.

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The report has segmented the market based on components, organization size, application, and end user.

Breakdown by component:
Software
Services

Breakdown by organization size:
Small and medium enterprises
Large companies

Breakdown by application:
Marketing and Advertising
Fraud detection and risk management
Predictive analytics
Augmented and Virtual Reality
natural language processing
computer vision
Security and surveillance
Others

Breakdown by end user:
IT and Telecom
Automotive
Health care
Aeronautics and Defense
Retail
Government
BFSI
Other

Breakdown by region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

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