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Machine Learning as a Service (MLaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 146 pages | ID: M5D7268BBF16EN
IMARC Group

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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.

Machine learning as service (MLaaS) refers to a set of cloud-based platforms that offer machine learning (ML) tools on the go. It offers the benefits of cost-effective data storage, pre-made pipelines for data ingestion, and toolkits for setting up effective data governance. Moreover, it plays a vital role in eradicating infrastructural concerns, such as model training and evaluation and pre-processing. It also enables deep learning, data visualization, accurate regression, speech and face recognition, predictive analytics, and computer vision. Consequently, organizations nowadays use MLaaS to meet the dynamic business needs, such as personalizing search results and predicting product demand.

Machine Learning as a Service (MLaaS) Market Trends:
Several companies presently are transferring their data from on-premise storage to cloud storage systems. This acts as a key factor driving the need for MLaaS to organize the data properly. Apart from this, the widespread adoption of Internet of Things (IoT) devices and systems in enterprise automation is propelling the market growth. Besides this, the escalating demand for personalization and developments in virtual technologies, such as virtual assistants, augmented reality (AR), smart storage management, and logistics, is contributing to the market growth. Furthermore, MLaaS is gaining traction in designing chatbots and virtual assistants, quality control and detection of manufacturing defects, automating business documentation workflow, and natural language processing (NLP) tasks. Additionally, as ML can detect disease and virus infections accurately, it is used to automate the task of predicting coronavirus disease (COVID-19) infection and forecast future infection tallies. In line with this, scientists across the globe are focusing on developing ML-based smart solutions. These solutions assist in diagnosing and treating various diseases at an early stage, which is anticipated to drive the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global machine learning as a service (MLaaS) market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on component, organization size, application and end user.

Breakup by Component:

Software
Services

Breakup by Organization Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Application:

Marketing and Advertising
Fraud Detection and Risk Management
Predictive Analytics
Augmented and Virtual Reality
Natural Language Processing
Computer Vision
Security and Surveillance
Others

Breakup by End User:

IT and Telecom
Automotive
Healthcare
Aerospace and Defense
Retail
Government
BFSI
Other

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon.com Inc., Bigml Inc., Fair Isaac Corporation, Google LLC (Alphabet Inc.), H2O.ai Inc., Hewlett Packard Enterprise Development LP, Iflowsoft Solutions Inc., International Business Machines Corporation, Microsoft Corporation, MonkeyLearn, Sas Institute Inc. and Yottamine Analytics Inc.

Key Questions Answered in This Report
1. What was the size of the global machine learning as a service (MLaaS) market in 2022?
2. What is the expected growth rate of the global machine learning as a service (MLaaS) market during 2023-2028?
3. What are the key factors driving the global machine learning as a service (MLaaS) market?
4. What has been the impact of COVID-19 on the global machine learning as a service (MLaaS) market?
5. What is the breakup of the global machine learning as a service (MLaaS) market based on the component?
6. What is the breakup of the global machine learning as a service (MLaaS) market based on organization size?
7. What is the breakup of the global machine learning as a service (MLaaS) market based on the application?
8. What is the breakup of the global machine learning as a service (MLaaS) market based on the end user?
9. What are the key regions in the global machine learning as a service (MLaaS) market?
10. Who are the key players/companies in the global machine learning as a service (MLaaS) market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL MACHINE LEARNING AS A SERVICE (MLAAS) MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Software
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Services
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY ORGANIZATION SIZE

7.1 Small and Medium-sized Enterprises
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Large Enterprises
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Marketing and Advertising
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Fraud Detection and Risk Management
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Predictive Analytics
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Augmented and Virtual Reality
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Natural Language Processing
  8.5.1 Market Trends
  8.5.2 Market Forecast
8.6 Computer Vision
  8.6.1 Market Trends
  8.6.2 Market Forecast
8.7 Security and Surveillance
  8.7.1 Market Trends
  8.7.2 Market Forecast
8.8 Others
  8.8.1 Market Trends
  8.8.2 Market Forecast

9 MARKET BREAKUP BY END USER

9.1 IT and Telecom
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Automotive
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Healthcare
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Aerospace and Defense
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Retail
  9.5.1 Market Trends
  9.5.2 Market Forecast
9.6 Government
  9.6.1 Market Trends
  9.6.2 Market Forecast
9.7 BFSI
  9.7.1 Market Trends
  9.7.2 Market Forecast
9.8 Other
  9.8.1 Market Trends
  9.8.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Amazon.com Inc.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
    15.3.1.3 Financials
    15.3.1.4 SWOT Analysis
  15.3.2 Bigml Inc.
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
  15.3.3 Fair Isaac Corporation
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
    15.3.3.3 Financials
    15.3.3.4 SWOT Analysis
  15.3.4 Google LLC (Alphabet Inc.)
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 SWOT Analysis
  15.3.5 H2O.ai Inc.
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
  15.3.6 Hewlett Packard Enterprise Development LP
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
    15.3.6.4 SWOT Analysis
  15.3.7 Iflowsoft Solutions Inc.
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
  15.3.8 International Business Machines Corporation
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 Financials
    15.3.8.4 SWOT Analysis
  15.3.9 Microsoft Corporation
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
    15.3.9.3 Financials
    15.3.9.4 SWOT Analysis
  15.3.10 MonkeyLearn
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
  15.3.11 Sas Institute Inc.
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
    15.3.11.3 SWOT Analysis
  15.3.12 Yottamine Analytics Inc.
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Machine Learning as a Service Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Machine Learning as a Service Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Machine Learning as a Service Market Forecast: Breakup by Organization Size (in Million US$), 2023-2028
Table 4: Global: Machine Learning as a Service Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Machine Learning as a Service Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Machine Learning as a Service Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Machine Learning as a Service Market: Competitive Structure
Table 8: Global: Machine Learning as a Service Market: Key Players

LIST OF FIGURES

Figure 1: Global: Machine Learning as a Service Market: Major Drivers and Challenges
Figure 2: Global: Machine Learning as a Service Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Machine Learning as a Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Machine Learning as a Service Market: Breakup by Component (in %), 2022
Figure 5: Global: Machine Learning as a Service Market: Breakup by Organization Size (in %), 2022
Figure 6: Global: Machine Learning as a Service Market: Breakup by Application (in %), 2022
Figure 7: Global: Machine Learning as a Service Market: Breakup by End User (in %), 2022
Figure 8: Global: Machine Learning as a Service Market: Breakup by Region (in %), 2022
Figure 9: Global: Machine Learning as a Service (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Machine Learning as a Service (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Machine Learning as a Service (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Machine Learning as a Service (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Machine Learning as a Service (Small and Medium Size Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Machine Learning as a Service (Small and Medium Size Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Machine Learning as a Service (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Machine Learning as a Service (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Machine Learning as a Service (Marketing and Advertising) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Machine Learning as a Service (Marketing and Advertising) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Machine Learning as a Service (Fraud Detection and Risk Management) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Machine Learning as a Service (Fraud Detection and Risk Management) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Machine Learning as a Service (Predictive Analytics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Machine Learning as a Service (Predictive Analytics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Machine Learning as a Service (Augmented and Virtual Reality) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Machine Learning as a Service (Augmented and Virtual Reality) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Machine Learning as a Service (Natural Language Processing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Machine Learning as a Service (Natural Language Processing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Machine Learning as a Service (Computer Vision) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Machine Learning as a Service (Computer Vision) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Machine Learning as a Service (Security and Surveillance) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Machine Learning as a Service (Security and Surveillance) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Machine Learning as a Service (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Machine Learning as a Service (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Machine Learning as a Service (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Machine Learning as a Service (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Machine Learning as a Service (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Machine Learning as a Service (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Machine Learning as a Service (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Machine Learning as a Service (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Machine Learning as a Service (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Machine Learning as a Service (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Global: Machine Learning as a Service (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Global: Machine Learning as a Service (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Global: Machine Learning as a Service (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Global: Machine Learning as a Service (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Global: Machine Learning as a Service (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Global: Machine Learning as a Service (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Global: Machine Learning as a Service (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Global: Machine Learning as a Service (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: North America: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: North America: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: United States: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: United States: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Canada: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Canada: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Asia-Pacific: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Asia-Pacific: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: China: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: China: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Japan: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Japan: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: India: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: India: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: South Korea: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: South Korea: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Australia: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Australia: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Indonesia: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Indonesia: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Others: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Others: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Europe: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Europe: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Germany: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Germany: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: France: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: France: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: United Kingdom: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: United Kingdom: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Italy: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Italy: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Spain: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Spain: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Russia: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Russia: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Others: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Others: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Latin America: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Latin America: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Brazil: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 90: Brazil: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 91: Mexico: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 92: Mexico: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 93: Others: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 94: Others: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 95: Middle East and Africa: Machine Learning as a Service Market: Sales Value (in Million US$), 2017 & 2022
Figure 96: Middle East and Africa: Machine Learning as a Service Market: Breakup by Country (in %), 2022
Figure 97: Middle East and Africa: Machine Learning as a Service Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 98: Global: Machine Learning as a Service Industry: SWOT Analysis
Figure 99: Global: Machine Learning as a Service Industry: Value Chain Analysis
Figure 100: Global: Machine Learning as a Service Industry: Porter's Five Forces Analysis


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