The global market for MLaaS is projected to have a considerable CAGR of around 40.5% during the forecast period. Machine learning is a technology that provides computers with the ability to learn and modify their analytical features when exposed to new data sets that are been programmed. The increasing adoption of cloud-based technology is the major factor contributing to the growth of machine learning as a service market. The immense advancement in technology, as well as the need to understand customer behaviour, are also responsible for the global expansion of the machine learning as a service (MLaaS) market. On the contrary, there is a significant shortage of skilled consultants for deploying machine learning services, along with compliance issues, which limits the growth of the machine learning as a service (MLaaS) market in the global market. However, Growth opportunities are also provided by an increase in data from internet of things (IoT) platforms and improved connectivity.

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The global MLaaS market is segmented based on application, deployment, vertical, and services. Based on the application, the market is further classified into advertising and marketing, natural language processing, automated network management, user behaviour analytics, and others (Risk Detection and Analysis, Predictive Maintenance). Based on deployment, the market is further segregated into software tools, cloud, and web-based application programming interfaces. Further, based on vertical, the market is classified into education, banking and financial services, defence, and others (Government, Healthcare and life sciences, Information Technology, Media and entertainment). And based on services the market classified as professional services, managed services.

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Geographically, the global MLaaS is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North America is projected to dominate the market share of MLaaS attributing to the factor such as the presence of large corporations engaged in technological research, rapid machine learning as a service integration with big data, Internet of Things (IoT), and other modern technologies. Moreover, increasing R&D investment in IT in the US and a rise in the demand for machine learning as a service with a large amount of data are the factors also contributing to the growth of the market in the region.

Global Machine Learning as a Service (MLaaS) Market – Segmentation
by Application
Advertising and Marketing
Natural Language Processing
Automated Network Management
User Behavior Analytics
Others (Risk Detection and Analysis, Predictive Maintenance)
by Deployment
Software Tools
Cloud and Web-Based Application Programming Interface
by Vertical
Education
Banking and Financial Services
Defense
Others (Government, Healthcare and life sciences, Information Technology, Media and entertainment)
by services
Professional Services
Managed Services

Global Machine Learning as a Service (MLaaS) Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles
Altexsoft Co.
Amazon Web Services Inc.
Appen Ltd.
AT&T Inc.
Bigml Inc.
Darktrace Holdings Ltd.
Fair Isaac Corp.
Figure Eight Inc.
Google LLC
H2o.Ai Inc
Hewlett Packard Enterprise Co.
IBM Corp.
LogDNA, Inc
Microsoft Corp.
Novantas, Inc.
SAS Institute Inc.
Sift Science Inc.
TAMR Inc.
Yottamine Analytics Inc.

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