With a large pool of
participants, the global machine learning as a service (MLaaS) market
is highly competitive in nature, states a research report by
Transparency Market Research (TMR). The market, predominantly led by
Amazon, IBM Corp., and Microsoft, experiences an intense rivalry
between participants. The top three players held more than 73% of the
overall market in 2016, thanks to the continual development and
innovation in machine learning techniques.
Over the forthcoming
years, these players are likely to be increasingly involved in
mergers, acquisitions, and partnerships with small-scale regional
players in order to expand their reach, notes the research study.
Browse Market
Research Report @
According to the
research report, the global market for MLaaS is expected to rise at a
phenomenal CAGR of 38.40% during the period from 2017 to 2025 with
its opportunity increasing from US$1.07 bn in 2016 to US$19.86 bn by
the end of the forecast period. The demand for MLaaS has been higher
in the healthcare and life sciences industry and is anticipated to
remain so over the next few years, owing to the augmenting need to
integrate structured as well as unstructured data in this industry.
Strong Demand for
Private Cloud-based MLaaS Solutions
As per the study,
MLaaS solutions are primarily deployed in public cloud and private
cloud. Among the two, private cloud contributes for the majority of
the revenue generated in the global MLaaS market, as enterprises are
preferring private cloud-based MLaaS solutions over their public
cloud-based counterparts due to data security reasons. However, the
latter, on account of their easy and cost efficient installation, is
anticipated to gain momentum over the forthcoming years. Small- and
mid-size enterprises, especially, are adopting public cloud-based
MLaaS solutions, which is likely to reflect positively on this
segment in the near future.
Geographically, Asia
Pacific, the Middle East and Africa, North America, South America,
and Europe have been considered as the primary segments of the
worldwide market for MLaaS in this research report. With a
contribution of US$362.7 bn, North America dominated the global
market in 2016. Researchers project this regional market to retain
its leadership throughout the forecast period on the ground of the
escalating need for Internet of Things (IoT), swift integration of
MLaaS with big data, and other advanced technologies, states the
market report.
Mounting
Structured and Unstructured Data in Enterprises to Boost Adoption of
MLaaS
“With the
increasing heaps of structured and unstructured data in enterprises,
thanks to the rising usage of Internet, the need for MLaaS in a bid
to analyze both structured and unstructured data for future
predictions and use it further for marketing and other purposes, has
been fueled, boosting the global market for MLaaS, says an analyst at
TMR. The growing adoption of cloud-based technologies has emerged as
another important factor behind the significant growth of the MLaaS
market across the world, as a number of companies have shifted
towards cloud computing and it is easier for them to uptake machine
learning services.
Fill the form for
an exclusive sample of this report @
The future of the
worldwide market for MLaaS solutions also looks very much thriving;
however, the shortage of skilled professionals and the increasing
concerns of consumers over data security may limit the adoption of
these solutions over the next few years, reports the research study.
About Us :
Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
No comments:
Post a Comment