ICT & Electronics machine learning as a service market Analysis | Página 2

“Machine Learning as a Service Market: Global Historical Growth
(2012-2016) & Future Outlook (2017-2024) Demand Analysis &
Opportunity Evaluation”
The global machine learning as a service market is segmented into end use
application such as manufacturing, retail, healthcare & life sciences, BFSI, travel
& hospitality and other (energy, feedstock & utilities). Among these segments,
healthcare & life sciences segment is expected to occupy the top position in the
market. The rise of the healthcare & hospitality segment is backed by rising
utilization of analytical technologies in hospitals. Moreover, government
initiatives to boost the healthcare sector in several developed and developing
nations is expected to impel the growth of the healthcare & hospitality segment.
Global machine learning as a service market is expected to register a 40.2%
CAGR over the forecast period. Moreover, the global machine learning as a
service market was valued at USD 1.1 Billion in 2016. The market is expected to
expand on the back of rising uptake from several end use industries.
Public cloud segment by deployment type is estimated to grow at a significant
CAGR during the forecast period. Moreover, the public cloud segment is expected
to account for the largest share of revenue across the globe. Factors such as ease
of establishment and financial benefit to the enterprises are expected to propel
the growth of this segment.
Rising Uptake of Analytical Technologies from Several Industry
Verticals
Spiked adoption of advanced analytical techniques is driving the growth of
machine learning as a service market. Further, machine learning helps the online
stores to collect and analyses the information about consumer behavior.
Moreover, machine learning as a service market is being heavily adopted by
several industry verticals to generate high revenue. These factors are expected to
bolster the market of machine learning as a service.
Increasing Demand for IoT Connected Devices & Services
Rapid pace in digitalization coupled with high demand for innovative digital
technologies by various enterprises is driving the growth of global machine
learning as a service market. Furthermore, market of digitalization is expected to
grow at unprecedented growth during the forecast period which is further
anticipated to increase the demand for machine learning as a service.