(MENAFN- America News Hour) In a recently published report, Machine Learning as a Service Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Machine Learning as a Service Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Machine Learning as a Service Market valued approximately USD 0.87 billion in 2017 is anticipated to grow with a healthy growth rate of more than 43.9% over the forecast period 2018-2025. Machine learning as a service is a significant range of solutions and services that are offered by cloud service providers. The tools offered by service providers include APIs, data visualization, natural language processing, face recognition, deep learning, and predictive analytics.
The main benefit associated with these services is that the customers are able to quickly start with machine learning with no need to install or download any software on their servers. Enhancements in technology, growth in data volume and rise in IT spending in some of the developing regions are the major factors which are driving the growth in the global market. Additionally, growth in acceptance of cloud-based technologies and increasing need to know customer behavior are further boosting the demand for Machine learning as a service. Moreover, the high demand for private cloud in enterprises is likely to propel the growth of the market. Besides this, a rise in the area of application and growing investments in the healthcare sector represents significant growth opportunities for the market in the near future. However, scarcity of trained expertise and several security concerns are expected to hamper the market growth.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of Machine Learning as a Service Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In region such as Asia-Pacific, Middle-East and Africa, rise in usage of passenger vehicles set the growth in Machine Learning as a Service Market over the forecasted period 2018-2025. Asia-Pacific is estimated to hold a prominent share of the Machine Learning as a Service market. Developing countries, such as India and China, are significant players boosting the demand for the Machine Learning as a Service Market. Europe, North America and the Middle East and Africa are continuously witnessing infrastructural growth which fueling the demand of Machine Learning as a Service Market over the coming years. Asia Pacific region is contributing towards the growth of global Machine Learning as a Service Market and anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Software Tools
Cloud and Web-based Application Programming Interface (APIs)
Others
By Application:
Manufacturing
Retail
Healthcare & Life Sciences
Telecom
BFSI
Others (Energy & Utilities, Education, Government)
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By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The leading Market players mainly include-
*Google
*IBM Corporation
*Microsoft Corporation
*Amazon Web Services
*BigML
*FICO
*Yottamine Analytics
*Ersatz Labs
*Predictron Labs
*H2O.ai
*AT & T
*Sift Science
Target Audience of the Machine Learning as a Service Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Key Trends
1.3. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
1.3.1. Machine Learning as a Service, by Type, 2015-2025 (USD Billion)
1.3.2. Machine Learning as a Service, by Application, 2015-2025 (USD Billion)
1.3.3. Machine Learning as a Service, by Region, 2015-2025 (USD Billion)
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Machine Learning as a Service Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Machine Learning as a Service Market Dynamics
3.1. See Saw Analysis
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Machine Learning as a Service Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Buyers
4.1.2. Bargaining Power of Suppliers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political Scenario
4.2.2. Economic Scenario
4.2.3. Social Scenario
4.2.4. Technological Scenario
4.3. Value Chain Analysis
4.3.1. Supplier
4.3.2. Manufacturers/Service Provider
4.3.3. Distributors
4.3.4. End-Users
4.4. Key Buying Criteria
4.5. Regulatory Framework
4.6. Cost Structure Analysis
4.6.1. Raw Material Cost Analysis
4.6.2. Manufacturing Cost Analysis
4.6.3. Labour Cost Analysis
4.7. Investment Vs Adoption Scenario
4.8. Analyst Recommendation & Conclusion
Chapter 5. Machine Learning as a Service, by Type
5.1. Market Snapshot
5.2. Market Performance – Potential Model
5.3. Key Market Players
5.4. Machine Learning as a Service, Sub Segment Analysis
5.4.1. Software Tools
5.4.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)
5.4.1.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
5.4.2. Cloud and Web-based Application Programming Interface (APIs)
5.4.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)
5.4.2.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
5.4.3. Others
5.4.3.1. Market estimates & forecasts, 2015-2025 (USD Billion)
5.4.3.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
Chapter 6. Machine Learning as a Service, by Application
6.1. Market Snapshot
6.2. Market Performance – Potential Model
6.3. Key Market Players
6.4. Machine Learning as a Service, Sub Segment Analysis
6.4.1. Manufacturing
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