Machine Learning as a Service Market Size, Prediction 2025

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.

Global Machine Learning as a Service Market: Overview

This report on the global machine learning as a service market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global machine learning as a service market growth during the said period.

Technologies that are playing a major role in the driving the global machine learning as a service market have also been covered in the study. The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of revenue estimates (in US$ Mn), across different geographies.

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Global Machine Learning as a Service Market: Snapshot

The global market for machine learning as a service (MLaaS) has gain a significant impetus over the last few years, thanks to the increasing penetration of Internet across the world. The massive amount of data being generated due to the increased usage of internet, shifting preference of organizations towards cloud computing platform, surging adoption of advance technologies, and the augmenting demand for machine learning among a number of industries, such as healthcare and life sciences, BFSI, and retail, are the key factors behind the significant growth of this market.

Going forward, the extensive proliferation of IoT connected devices is anticipated to create new growth opportunities for market players in the near future. As machine learning capabilities are projected to be integrated in more platforms and software, enabling organizations to take advantage of them, the market is likely to witness a substantial rise in the years to come. In 2016, the market presented a total opportunity worth US$1.07 bn in 2016. Expected to progress at an exponential CAGR of 38.40% between 2017 and 2025, it is likely to reach US$19.86 bn by the end of 2025.

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Healthcare and Life Sciences Industry to Remain Leading End User of MLaaS

The manufacturing, retail, telecom, healthcare and life sciences, BFSI, and various other sectors, such as energy and utilities, education, and the government, are the key end users of machine learning as service across the world. Among these, the healthcare and life sciences segment has emerged as the key contributor to this market, thanks to the growing need for machine learning in this sector to integrate the structured and unstructured data, especially the data generated by electronic health record (EHR) and the genomic and claims data.

Over the coming years, the demand for MLaaS is anticipated to increase substantially in other end-use industries, specifically in the BSFI, retail, telecom, and manufacturing, in order to enhance the decision-making capability of machines used in these industries.

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