Global Machine Learning Market By Geography
The Global Machine Learning market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America accounted for the largest share among all regions within the total Machine Learning as a Service (MLaaS) Market, accounting for total market revenue.
North America has been the most forward towards adopting ML services. The demand for MLaaS in the region can be attributed to the robust innovation ecosystem, strategic federal investments into advanced technology, and the presence of visionary entrepreneurs from globally renowned research institutions. Furthermore, this region has been extremely responsive to adopting the latest technological advancements such as integration technologies with the cloud, Big Data within ML Services.
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In November 2021, SAS added support for open-source users to its flagship SAS Viya platform. SAS Viya is for open-source integration and utility. The software user established an API-first strategy that fueled a data preparation process with ML.
Competition Scenario In Global Machine Learning Market
The Global Machine Learning as a Service (MLaaS) Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in a cloud-based solution, and technologies. The Machine Learning as a Service (MLaaS) Market’s growth is heavily reliant on IoT-based applications. Nowadays, numerous cloud-based companies, including Amazon, Google, HPE, Oracle, and IBM are investing in Machine Learning as a Service (MLaaS), and governments are also making significant investments in Machine Learning.
Country-Niche players comprise about ~45% of the market in terms of the number of competitors, while regional players hold a share of ~35%. Some of the major players in the market include Amazon, Google LLC, HPE, Oracle Corporation, IBM Corporation, Microsoft Corporation, SAS Institution Inc. FICO, Yottamine Analytics, LLC, PREDICTRON LABS, BigML, Ersatz Labs, Inc, and among others.
What is the Expected Future Outlook for the Overall Global MACHINE LEARNING Market Across the globe?
The Global Machine Learning market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Machine Learning market is driven by increase in demand for cloud-based solutions, artificial intelligence, and the cognitive computing market. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing acquisitions and emergence of new products, the Global Machine Learning market is changing rapidly. For instance, In June 2021, Hewlett Packard completed the acquisition of Determined AI, a San Francisco-based startup offering a software stack to train AI models faster at any scale, utilizing its open-source ML platform. Hewlett Packard integrated Determined AI’s unique software solution with its AI and high-performance computing (HPC) products to empower ML engineers to conveniently deploy and train ML models to offer faster and more precise analysis from their data in every industry.
In December 2021, Cognizant, a key player in the MLaaS market acquired Inwisdom, an AI and ML service provider to improve the decision-making ability of businesses using analytics and ML platforms.
In June 2022, Inflection AI secured one of the largest artificial ML funding rounds, totaling US$ 225 million. This ML investment is expected to improve ML, allowing for intuitive human-computer interfaces in the near future.
The Global Machine Learning as a Service (MLaaS) Market is forecasted to continue exponential growth during the forecast period, primarily driven by an increase in the adoption of IoT-based applications to ensure the accuracy of operational management using IoT platforms. Though the market is highly competitive with over 150 participants, few global players control the dominant share, and regional players also hold a significant share.
Key Topics Covered in the Report
- Snapshot of the Global Machine Learning as a Service (MLaaS) Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Machine Learning as a Service (MLaaS) Market
- Historic Growth of the Overall Global Machine Learning as a Service (MLaaS) Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Machine Learning as a Service (MLaaS) Industry
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Machine Learning as a Service (MLaaS) Market
- Future Market Forecast and Growth Rates of the Total Global Machine Learning as a Service (MLaaS) Market and by Segments
- Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Machine Learning as a Service (MLaaS) Market
- Major Production / Consumption Hubs in the Major within Each Region
- Major Production/Supply and Consumption/Demand Hubs within Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
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Notable Emerging Companies Mentioned in the Report
- Eightfold AI’s
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Machine Learning as a Service (MLaaS) Solution Companies
- Potential Investors in Machine Learning as a Service (MLaaS) Companies
- IoT Solutions Providers
- Government Investors
- AI Solution Providers
- Networking Companies
- Cloud Developers
- Research & Development Institutes
- Venture Capitalists
- Healthcare IoT Companies
- Telecommunication Service Providers
- Software Developers
- Electronic/Smart Device Manufacturers
- Finance and Banking Institutes
- Marketing Companies
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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