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Market Insights- Global Machine Learning as a Service (MLaaS) Market

Market Overview

Machine learning as-a-service refers to various types of services that offer machine learning abilities as a part of cloud-computing services. MLaaS assists its customers to gain advantage from machine learning without additional cost, risk, and time for creating an in-house internal machine learning team. MLaaS offers various advantages such as data pre-processing, model evaluation, model training, and predications. Many service providers offer API, predictive analytics, deep learning, data visualization, natural language processing, etc. The major advantage that MLaaS offers to businesses is that it enables them to get started quickly with machine learning without undergoing tedious software installation processes. Companies can enhance their product capabilities and offerings, enhance regular business operation efficiency, make interaction with consumers easier, and use AI prediction capabilities.

The global machine learning as a service (MLaaS) market was valued US$ 2,802.8Mn in 2019 and expected to grow at a CAGR of 36.8% over the forecasted period 2019-27.

Market Dynamics- Drivers

  1. Exponential growth of big data is expected to drive growth of the global machine learning as a service (MLaaS) market during the forecast period

Growing internet penetration has led to increase in a massive amount of structured and unstructured data in organizations. It has become extremely crucial for these organizations to get a better insight into their data, in order to enhance efficiency and competitiveness. Moreover, many organizations are increasingly adopting machine learning as a service to analyze both structured and unstructured data for future predictions and also use it for further marketing purposes. This, in turn, is expected to drive growth of the global machine learning as a service (MLaaS) market during the forecast period.

  1. Rising acceptance of cloud-based technologies is expected to propel the global machine learning as a service (MLaaS) market growth over the forecast period

According to Cisco’s Global Cloud Index, 2015-2020, 65% of data traffic in 2015 was cloud-based, which is estimated to reach 92% by 2020. As more and more companies are preferring cloud computing, it has become easy for them to adopt machine learning services. Moreover, machine learning application on the cloud has become more accessible and economical for businesses. Thus, these factors are expected to boost the global machine learning as a service (MLaaS) market growth in the near future.

North America region dominated the global machine learning as a service (MLaaS) market in 2019, accounting for 32.8% share in terms of value, followed by Europe, Asia Pacific, Middle East and Africa, and South America respectively.

Machine Learning as a Service  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Low availability of skilled personnel is expected to hamper the global machine learning as a service (MLaaS) market growth during the forecast period

Low availability of data scientists with machine learning experience is a major threat to growth of the market. Though machine learning software saves data scientists’ effort, a professional is required to use data and create the algorithms required for machine learning. Thus, a lack of skilled and experienced workforce combined with limited knowledge among end users is expected to hamper the global machine learning as a service (MLaaS) market growth in the near future.

  1. Lack of data security is expected to hinder the global machine learning as a service (MLaaS) market growth over the forecast period

A number of organizations are unwilling to adopt machine learning technologies due to concerns regarding data security. For many regulated industry sectors such as banking, insurance, healthcare, and government, security of data is important and any failure or gap in data security may result in major problems. Hence, these factors are expected to hinder the global machine learning as a service (MLaaS) market growth over the forecast period.

Market Opportunities

  1. IoT-enabled services can provide major growth opportunities to market players

Internet of Things (IoT) refers to connecting any device with the help of internet, allowing them to communicate with each other. To make this feasible, several sensors are installed on different devices to generate data. However, there is also need to make sense out of data gathered from the interconnection of devices. Since the massive amount of data is generated from various sensors connected to devices, the analysis of data is one of the biggest challenges associated with IoT. As the amount of data is expected to grow bigger in size in the future, enabling IoT will get more difficult. With the help of machine learning as a service, organizations can overcome this challenge. Machine learning can take an enormous amount of data, analyze it and generate patterns out of it without any specific programing.

  1. Rising investments in healthcare industry can offer significant opportunities in the near future

Healthcare sector offers massive growth opportunities for MLaaS providers, due to a vast amount of data generation. In any healthcare institution, massive data is generated including patient name, medical history, disease name, treatment process, treatment period, etc. All this is unstructured data, which will require machine learning capabilities to analyze and processes it. Key companies can focus on the healthcare industry, providing innovative solutions and services and gain a competitive advantage in the market.

Machine Learning as a Service  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Advent of new intelligent application is expected to be major trend

Machine learning capabilities are expected to be integrated into more platforms and software in the years to come, enabling organizations to take advantage of them. A number of companies are focused on becoming a data company irrespective of what an organization does. Previously, organizations have been dependent on structured data to make appropriate decisions or estimate future outcomes. However, upsurge of big data and machine learning capabilities has allowed analysis of unstructured data to make more informed decisions. Moreover, rapid speed of data generation and the availability of a huge amount of computing power are expected to facilitate advent of more and more applications that generate real-time predictions and get better constantly over time.

  1. Growing use of machine learning in retail sector is another major trend

Major retailers in the market have collaborated with analytics companies to gain insights for marketing purposes. Moreover, smaller retailers are leveraging power of big data to understand its consumers, owing to availability of cost-efficient cloud-based machine learning solutions. In segment-of-one marketing, the individual customers are targeted with the available data about them to suggest the right promotion for the right customer. Machine learning-powered marketing is expected to change the traditional method of promotion.

Segment information:

In global machine learning as a service (MLaaS) market, by Type segment, the Private Cloud/VPCs, sub-segment dominated the global market in 2019, accounting for 50.2% share in terms of value, followed by Public Cloud.

Machine Learning as a Service  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players involved in the global machine learning as a service (MLaaS) market are H2O.ai, Google Inc., Predictron Labs Ltd, IBM Corporation, Ersatz Labs Inc., Microsoft Corporation, Yottamine Analytics, Amazon Web Services Inc., FICO, and BigML Inc.

Key Developments

  1. Key companies in the market are focused on product launches, in order to expand the product portfolio. For instance, in February 2017, IBM Corporation intruded the Machine Learning Cognitive Platform for the private cloud, which is to be used with the IBM z System Mainframe.
  2. Major market players are involved in partnerships and collaborations, in order to enhance the market presence. For instance, in Mach 2017, Microsoft Corporation partnered with Ecolab and Trucost to launch the Water Risk Monetizer tool. The Water Risk Monetizer is the first publicly available financial modeling tool enabling businesses to factor current and future water risks into decision making.

Machine learning as-a-service refers to various types of services that offer machine learning abilities as a part of cloud-computing services. MLaaS providers offer various machine learning tools including API, predictive analytics, deep learning, data visualization, natural language processing, etc. MLaaS assists its customers to gain advantage from machine learning without additional cost, risk, and time for creating an in-house internal machine learning team. A number of cloud computing service providers offer machine learning as a service including Amazon, IBM Corporation, and Microsoft Corporation. Moreover, MLaaS is offered on a limited trial basis for a developer to evaluate before committing to a particular platform. The major advantage that MLaaS offers to businesses is that it enables them to get started quickly with machine learning without undergoing tedious software installation processes. Companies can enhance their product capabilities and offerings, enhance regular business operation efficiency, make interaction with consumers easier, and use AI prediction capabilities.

Market Dynamics

In 20th century data is considered as new oil. Due to this many technology companies are heavily investing in data. These data may be structured and unstructured forms. It has become extremely crucial for these organizations to get a better insight into their data, in order to enhance efficiency and competitiveness. Moreover, many organizations are increasingly adopting machine learning as a service to analyze both structured and unstructured data for future predictions and also use it for further marketing purposes.

Moreover, cloud based data in continuously growing Cisco system Inc., anticipated in 2015, 65% of data was cloud based hoverer it is estimated that cloud based data will reach around 92% by 2020. As more and more companies are preferring cloud computing, it has become easy for them to adopt machine learning services. Moreover, as an ever-increasing number of organizations are leaning toward machine learning, it has gotten simple for them to receive machine learning services. Thus use of big data and increasing use of cloud technology are expected to drive growth of the global machine learning as a service (MLaaS) market during the forecast period.

Market Taxonomy

This report segments the global machine learning as a service (MLaaS) market on the basis of Deployment, End Use application and region. On the basis of Deployment, global machine learning as a service (MLaaS) market is segmented into Public Cloud and Private Cloud/Virtual Private Cloud. On the basis of application, the global machine learning as a service (MLaaS) market is segmented into Manufacturing, Retail, Healthcare & Life Sciences, Telecom, Banking, Financial services and Insurance (BFSI) and Others (Energy & Utilities, Government, Education etc.). On the basis of region, global machine learning as a service (MLaaS) market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global machine learning as a service (MLaaS) market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global machine learning as a service (MLaaS) market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global machine learning as a service (MLaaS) market includes H2O.ai, Google Inc., Predictron Labs Ltd, IBM Corporation, Ersatz Labs Inc., Microsoft Corporation, Yottamine Analytics, Amazon Web Services Inc., FICO, and BigML Inc.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global machine learning as a service (MLaaS) market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global machine learning as a service (MLaaS) market.

Detailed Segmentation:

  • Global Machine Learning as a Service (MLaaS)  Market, By Deployment:
    • Public Cloud
    • Private Cloud/Virtual Private Cloud
  • Global Machine Learning as a Service (MLaaS)  Market, By End-use Application:
    • Manufacturing
    • Retail
    • Healthcare & Life Sciences
    • Telecom
    • Banking, Financial services and Insurance (BFSI)
    • Others (Energy & Utilities, Government, Education etc.)
  • Global Machine Learning as a Service (MLaaS)  Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • H2O.ai*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Google Inc.
    • Predictron Labs Ltd
    • IBM Corporation
    • Ersatz Labs Inc.
    • Microsoft Corporation
    • Yottamine Analytics
    • Amazon Web Services Inc.
    • FICO
    • BigML Inc.

*Browse all the market data tables and figures on “Global Machine Learning as a Service (MLaaS) Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Deployment
      • Market Snippet, By End-use Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Machine Learning as a Service (MLaaS) Market, By Deployment, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Public Cloud
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Private Cloud/Virtual Private Cloud
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Machine Learning as a Service (MLaaS) Market, By End-use Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Manufacturing
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare & Life Sciences
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Telecom
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Banking, Financial services and Insurance (BFSI)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others (Energy & Utilities, Government, Education etc.)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Machine Learning as a Service (MLaaS) Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Deployment, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Deployment, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Deployment, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Deployment, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Deployment, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • ai
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Google Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Predictron Labs Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IBM Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ersatz Labs Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Microsoft Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Yottamine Analytics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Amazon Web Services Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • FICO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • BigML Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse XX market data tables and XX figures on “Global Machine Learning as a Service (MLaaS) Market-forecast to 2027”.

Frequently Asked Questions

This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
• By type • By End Use Application • By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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