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Manager at Zion Market Research
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Trends in Machine Learning as a Service 2018: Global Market is Growing With Rapid Pace
Machine learning as a service market mainly implements a complete range of services & solutions and methods interrelated very closely to artificial intelligence, which usually performs a statistical examination of input data mainly to know its future or current relationship as well as performance.
The most significant market growth driver for the global machine learning as a service market is the increase of diversity in the data and volume of data available which is required to study and research qualitatively. Furthermore, the other growth factor for machine learning as a service market is the information storage which is likely to become cheaper and affordable. The global machine learning as service market is usually a recommended system which is likely to be utilized across different sectors, majorly in online shopping websites, which is likely to support several organization to achieve a deeper insights related to the consumer behavior at the same time helping them find out relevant and new offers thus leading to a much stronger consumer relationships as well as higher sales for the industry.
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The other most important factor which is likely to fuel the global machine learning as a service market is a requirement by several organizations to make a significant decision during real-time where machine learning can provide greatest predictions.
The global machine learning as a service market is classified in terms of vertical, type, and region. In terms of type, the global machine learning as a service market can be categorized into unsupervised learning, supervised learning, reinforcement learning web as well as mobile and semi-supervised learning. In terms of vertical, the global machine learning as a service market is fragmented into government, BFSI, retail, healthcare, transportation, energy, and others.
North America is likely to dominate and stay in the leading position as compared to other regional markets and is also expected to contribute a significant market revenue share. The region is projected to hold its dominant place in the coming future which is likely to be backed by the growing demand and requirement for the Internet of Things (IoT) as well as the fast integration of machine learning as a service along with big data & other latest technologies. The expansion of North America in the global machine learning as a service market is particularly fuelled by Canada and the U.S., as they are considered as the home to several well-entrenched market players.
In addition, Asia Pacific is also anticipated to show a major expansion rate in the near years, which is likely to be backed by the rapid increase of developed analytics technologies particularly in the life sciences and healthcare sector. The advancements in the information technology division are also expected to work particularly in favor of the Asia Pacific market.
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Some of the most important market players in the global machine learning as a service market are Google Inc., IBM Corporation, Big MI Inc., Amazon Web Services, FICO, Microsoft Corporation, Yottamine Analytics, Ersatz Labs Inc., Fuzzy.ai, Predictron Labs Ltd., Hewlett Packard Enterprise, Sift Science Inc., Datoin, and H20.ai, among others.