Machine Learning as a Service Market Size Study Highlights the Potential of Cloud-Based AI Solutions | CAGR of 36.2%

MLaaS Market Drivers: Increasing demand for AI solutions, scalability, advancements in ML and cloud technologies, and data-driven decision making.

PORTLAND, OREGON, UNITED STATES, July 5, 2023/EINPresswire.com/ — The Global Machine learning as a Service Market was assessed at $13.95 billion in 2020 and is expected to reach $302.66 billion by 2030, rising at a 36.2% CAGR from 2021 to 2030.

A number of variables drive the worldwide machine learning as a service market, including rising demand for cloud computing, greater acceptance of analytical solutions, growth of the artificial intelligence & cognitive computing market, and increased application areas. However, one of the constraints is a scarcity of trained specialists.

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Organizations across various sectors are embracing the power of artificial intelligence (AI) to gain insights, automate processes, and enhance decision-making. MLaaS provides a convenient and scalable approach for businesses to leverage AI capabilities without heavy investment in infrastructure and expertise. The growing demand for AI solutions and the need to accelerate AI adoption drive the growth of the MLaaS market.

MLaaS offers scalability and flexibility by providing cloud-based platforms and services that can accommodate varying workloads and demands. It enables businesses to access machine learning algorithms, tools, and resources on-demand, eliminating the need for extensive in-house infrastructure. The scalability and flexibility of MLaaS solutions cater to the diverse needs of organizations, driving their adoption.

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Rapid advancements in machine learning algorithms, techniques, and cloud computing technologies have paved the way for MLaaS. These advancements have made machine learning more accessible, efficient, and cost-effective. With the availability of robust machine learning models and cloud platforms, businesses can harness the power of MLaaS to solve complex problems, improve productivity, and drive innovation.

In today’s data-driven era, organizations are increasingly relying on data analysis and insights to make informed decisions. MLaaS plays a crucial role in enabling businesses to extract valuable insights from vast amounts of data and drive data-driven decision making. The MLaaS market is driven by the growing recognition of the importance of leveraging data assets and the need for advanced analytics tools to derive meaningful insights.

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Some of the key Machine learning as a Service Industry players profiled in the report include Google Inc., SAS Institute Inc., FICO, Hewlett Packard Enterprise, Yottamine Analytics, Amazon Web Services, BigML, Inc., Microsoft Corporation, Predictron Labs Ltd., and IBM Corporation. This study includes Machine Learning as a Service Market share, trends, machine learning as a service market analysis, and future estimations to determine the imminent investment pockets.

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David Correa
Allied Analytics LLP
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