Machine Learning-as-a-Service (MLaaS) Market – Forecast, 2020-2027 - Gurgaon

The primary factors contributing to the growth of the global machine learning-as-a-service market are the rising adoption of cloud-based technology among organizations and the increasing need to understand the behavioral of the customer. Additionally, MLaaS are being largely adopted by enterprise across the industries to improve customer experience, which is also propelling the growth of the market. The ML helps to gain insights about customer buying patterns, behavior, and interest as it offers effective data management.

Moreover, advancement in technologies such as Artificial Intelligence (AI), Machine Learning (ML), and learning and analytics technologies, along with growing in affordability of data storage, further fuelled the growth of the machine learning-as-a-service market size. Internet of Things (IoT), cognitive computing, deep learning, and other technologies are creating various growth opportunities in the machine learning-as-a-service market. With the rising adoption of IoT and automation systems across the industries, there has been a rise in the demand for MLaaS as the IoT, smart and connected technologies are generating a massive amount of data, which can be analyzed and used to retrieve profitable insights. In addition to this, major organizations provide machine learning services and offer numerous options to run ML algorithms using a cloud-based platform. On the other hand, the lack of skilled professionals to deploy ML services and government & compliance issues will hinder the growth of the global machine learning-as-a-service market.

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