What Fueled The Previous Growth In The Machine Learning As A Service MLaaS Market?
The machine learning as a service mlaas market has seen considerable growth due to a variety of factors.
• The market size for machine learning as a service (MLaaS) has seen significant growth lately. It's projected to expand from $57.88 billion in 2024 to $79.23 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 36.9%.
This growth during the historical period can be linked to factors such as the expansion of big data, greater incorporation of machine learning, advances in deep learning, the emergence of data science and AI, and heightened awareness regarding predictive analytics.
What Can Be Expected from the Machine Learning As A Service MLaaS Market Size?
The machine learning as a service mlaas market is expected to maintain its strong growth trajectory in upcoming years.
• Over the upcoming years, there is an anticipated exponential growth of the machine learning as a service (MLaaS) market size. It is predicted to escalate to $278.65 billion in 2029 with a compound annual growth rate (CAGR) of 36.9%.
Factors such as the advent of industry-specific solutions, the development of explainable AI, the surge in autonomous systems, the application of hybrid cloud deployments, and advanced security and privacy features are identified as the growth drivers during the forecast period. The future trends within the forecast period encompass vertical-oriented machine learning platforms, automation enhanced by AI, the democratization of machine learning, cooperative machine learning, and constant learning systems.
What Are the Critical Driver Fuelling The Machine Learning As A Service MLaaS Market's Growth?
The anticipated advancement of the machine learning as a service (MLaaS) market is largely due to the increasing incorporation of cloud technologies. This incorporation implies the unification of multiple cloud-based systems or their connection with on-premises systems. By leveraging MLaaS, cloud technologies equip users with accessible, economically viable and scalable machine learning capabilities. This allows users to effectively utilize pre-trained models and tools for different applications without requiring extensive knowledge in machine learning or infrastructure management. For example, Eurostat, a government agency based in Luxembourg, reported in December 2023, that 42.5% of EU enterprises adopted cloud computing services mainly for email, file storage, and office software, marking a 4.2 percentage point surge from 2021. Furthermore, global digital transformation expenditure reached approximately $1.85 trillion in December 2022, showing a 16% increase from the previous year, according to data from Augusta Free Press, a US-based news service company. Thus, the accelerating incorporation of cloud technologies is fueling the growth of the machine learning as a service (MLaaS) market.
How Is The Machine Learning As A Service MLaaS Market segmented?
The machine learning as a service (MLaaS) market covered in this report is segmented –
1) By Component: Software Tools, Services
2) By Organization Size: Small And Medium Enterprises, Large Enterprises
3) By Application: marketing And Advertisement, Predictive Maintenance, Automated Network Management, Fraud Detection And Risk Management, Other Applications
4) End User: BFSI, IT And Telecom, Automotive, Healthcare, Aerospace And Defense, Retail, Government, Other End User
Subsegments:
1) By Software Tools: Data Preprocessing Tools, Machine Learning Algorithms And Frameworks, Model Training And Validation Tools, Deployment And Monitoring Tools, Visualization And Reporting Tools
2) By Services: Consulting And Advisory Services, Implementation And Integration Services, Custom Model Development Services, Training And Support Services, Managed Services And Maintenance
Pre-Book The Machine Learning As A Service MLaaS Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Machine Learning As A Service MLaaS Market?
Leading corporations in the machine learning as a service (MLaaS) market are introducing revolutionary services such as Kubeflow as a service to mainstream AI development. Kubeflow-as-a-Service (KFaaS) is an administered environment that enables users to utilize Kubeflow's capabilities for machine learning (ML) initiatives without being burdened with the management of the underlying system. For instance, Civo, a web hosting company based out of the UK, launched its Kubeflow as a service in February 2023. By using the fully managed development surroundings offered by KFaaS providers like Civo KFaaS, users can harness the vast computing abilities of the service provider without shouldering the hassle of infrastructure management. KFaaS facilitates a seamless workflow for ML projects by integrating with leading ML tools and platforms such as TensorFlow, PyTorch, RStudio, Visual Studio Code, and Jupyter notebooks.
Who Are the Key Players In The Machine Learning As A Service MLaaS Market?
Major companies operating in the machine learning as a service (MLaaS) market report are:
• Amazon.com Inc.
• Alphabet Inc.
• Microsoft Corporation
• Meta Platforms Inc.
• Intel Corporation
• International Business Machines Corporation
• Oracle Corporation
• Mitsubishi Electric Corporation
• SAP SE
• Hewlett Packard Enterprise Company
• NVIDIA Corporation
• Tata Consultancy Services Limited
• Infosys Limited
• Wipro Ltd.
• Fair Isaac Corporation
• Databricks Inc.
• TIBCO Software Inc.
• Cyient Ltd.
• Dataiku Ltd.
• H2O.ai Inc.
• Iflowsoft Solutions Inc.
• BigML Inc.
• AscentCore
• MonkeyLearn Inc.
• Sift Science Inc.
• Yottamine Analytics LLC
What Is The Most Dominant Region In The Machine Learning As A Service MLaaS Market?
North America was the largest region in the machine learning as a service (MLaaS) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine learning as a service (MLaaS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
