Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Machine learning as a Service Market size is expected to reach $36.2 billion by 2028, rising at a market growth of 31.6% CAGR during the forecast period.
The IT & Telecom segment acquired maximum revenue share in the Global Machine learning as a Service Market by End User in 2021, thereby, achieving a market value of $9.2 billion by 2028. Telecom data sources such as business transactions, CDR, GPS, and Internet Access Points, in addition to data from other types of telecom equipment, can all provide insights into user behavior. Of course, access to such data is required to extract those insights. Telecommunication networks are made up of wireless base stations, mobile switching centers, radio frequency identification readers, cellular towers, and other components. Each component collects different types of data depending on its function. Inventory data is collected by RFID scanners, whereas call details are recorded by MSCs.
The Solution (Software Tools) segment is showcasing a CAGR of 33.9% during (2022 - 2028). IBM Corporation's Watson, Oracle ML, and Microsoft Corporation's Azure, among others, are examples of significant industry participants' solutions. These tools assist data scientists and researchers in deploying AI and machine learning more quickly. In the upcoming years, machine learning as a service is predicted to be a significant industry trend.
The Large Enterprises segment is leading the Global Machine learning as a Service Market by Organization Size in 2021, thereby, achieving a market value of $25.1 billion by 2028. This is due to the increasing use of artificial intelligence and data science technology to provide quantitative insights into business processes. To provide high-market services, large corporations are focusing on deep learning, artificial intelligence, and decision optimization.
The Computer vision segment has shown growth rate of 32.9% during (2022 - 2028). Computer vision is an interdisciplinary scientific topic that studies how computers can perceive digital images or movies at a high level. It aims to comprehend and automate operations that the human visual system can perform from an engineering standpoint. Human vision is similar to computer vision; however, humans have an advantage. Human vision benefits from lifetimes of context to teach it how to distinguish objects apart, how far away they are, whether they are moving, and whether something is incorrect with an image
The North America market dominated the Global Machine learning as a Service Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.1 billion by 2028. The Europe market is estimated to witness a CAGR of 31.1% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 32.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/machine-learning-as-a-service-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hewlett-Packard Enterprise Company, Oracle Corporation, Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.), IBM Corporation, Microsoft Corporation, Fair Isaac Corporation (FICO), SAS Institute, Inc., Yottamine Analytics, LLC, and BigML.
By End User
By Organization Size
Unique Offerings from KBV Research
North America Machine learning as a Service Market Size & Opportunities 2022-2028
Europe Machine learning as a Service Market & Growth Forecast 2022-2028
Asia Pacific Machine learning as a Service Market Share & Industry Outlook to 2028
LAMEA Machine learning as a Service Market Growth, Trends & Forecasts 2022-2028