According to the latest report by IMARC Group, titled, “Machine Learning as a Service (MLaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global machine learning as a service (MLaaS) market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.0 Billion by 2028, exhibiting a growth rate (CAGR) of 31.2%during 2023-2028.
Market Overview:
Machine Learning as a Service (MLaaS) is a cloud-based service that enables businesses to access machine learning (ML) algorithms and models without investing in expensive infrastructure, expertise, and tools. It provides pre-built algorithms, tools, and data processing resources that allow businesses to build, deploy, and manage ML models and applications. At present, it is employed for predictive analytics, natural language processing (NLP), image recognition, fraud detection, and recommendation engines across the globe.
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/machine-learning-as-a-service-market/requestsample
Machine Learning as a Service (MLaaS) Market Trends and Drivers:
The increasing availability of cloud computing infrastructure and the rising need for ML to gain insights and drive decision-making in businesses currently represent one of the key factors catalyzing the demand for MLaaS across the globe. In addition, ongoing developments in ML with new algorithms, tools, and techniques is offering lucrative growth opportunities to MLaaS providers for constantly updating their services and making ML more accessible to businesses of all sizes. They are also providing customizable models and algorithms that can be deployed for specific needs and use cases and offer interoperability with a wide range of tools and platforms, including programming languages and development frameworks. Furthermore, the rising focus on increasing revenue, reducing costs, and improving customer satisfaction, is stimulating the market growth worldwide.
Machine Learning as a Service (MLaaS) Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on component, organization size, application and end user.
Breakup by Component:
Breakup by Organization Size:
Breakup by Application:
Breakup by End User:
Breakup by Region:
Ask Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/machine-learning-as-a-service-market
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Top Trending Reports (Book Now with 10% Discount):
Embedded Analytics Market Report- https://bit.ly/3qpiAFz
App Analytics Market Report- https://bit.ly/2XPfvCp
Application Delivery Controller Market Report- http://bit.ly/3W7D9m1
Advanced Distribution Management System Market Report- http://bit.ly/3EQfPBL
India E-commerce Market Report- https://bit.ly/3Cn04DD
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media ContactCompany Name: IMARC GroupContact Person: Elena AndersonEmail: Send EmailPhone: +1-631-791-1145Address:134 N 4th St. City: BrooklynState: NYCountry: United StatesWebsite: https://www.imarcgroup.com