The global machine learning-as-a-service (MLaaS) market size was US$ 2.5 billion in 2021. The global machine learning-as-a-service (MLaaS) market size is forecast to reach US$ 32.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 39.9% during the forecast period from 2022 to 2030.

Machine learning-as-a-service encompasses a wide range of services, solutions, and methodologies closely related to artificial intelligence (AI), which analyses input data statistically to determine its current or future relationship and performance. Machine learning makes use of a large amount of data to increase analytical output while streamlining workflow in a variety of industries. Machine learning-as-a-service (MLaaS) refers to a collection of cloud-based services that provide machine learning technologies.

Factors Influencing Market Growth

The growing IT expenditures in emerging countries and technological advances for workflow optimization fuel the demand for advanced analytical systems. Thus, this factor drives the global market.
The growing penetration of cloud-based solutions, the increase associated with the artificial intelligence and cognitive computing market, and rising prediction solutions demand in the market fuels global market growth.
The lack of trained professionals may slow down the overall market growth during the forecast period.
Impact Analysis of COVID-19

The COVID-19 pandemic had a positive impact on the global market growth. Due to the COVID-19 pandemic, the government worldwide imposed a lockdown in order to curb the spread of the deadly virus. As a result, companies globally had to change their working patterns. In addition, many organizations revved their migrations to public cloud solutions since cloud service elasticity can meet unpredictable spikes in service demand. Migrations to cloud-enabled companies reinvent the way they run their businesses in the time of COVID-19. The need for AI services has increased, and many cloud providers offer AIaaS and MLaaS.

Regional Insights

North America is forecast to garner a substantial share in the market during the forecast period. The growth of MLaaS aid by a dynamic invention ecosystem fueled by significant federal investments in sophisticated technology and the presence of visionary scientists and entrepreneurs from globally recognized research institutions. In addition, the region is seeing a huge increase in 5G, IoT, and connected devices. As a result, through virtualization, network slicing, new use-cases, and service requirements, communications service providers (CSPs) must effectively handle an ever-increasing complexity. As traditional network and service management methodologies are no longer viable, this is forecast to fuel the market growth in the region. MLaaS alternatives.

Leading Competitors

The leading prominent companies profiled in the global machine learning-as-a-service market are:

Microsoft Corporation
SAS Institute Incorporated
Fair Isaac Corporation (FICO)
Google LLC
IBM Corporation
Hewlett Packard Enterprise Company
Yottamine Analytics LLC
BigML Incorporated
Iflowsoft Solutions Incorporated
Amazon Web Services Incorporated
Monkeylearn Incorporated
Sift Science Incorporated
H2O.ai Incorporated
Other Prominent Players
Scope of the Report

The global machine learning-as-a-service market segmentation focuses on Application, Organization Size, End-Users, and Region.

Segmentation based on Application

Marketing and Advertisement
Predictive Maintenance
Automated Network Management
Fraud Detection and Risk Analytics
Natural language processing (NLP)
Sentiment Analysis
Computer Vision
Other Applications
Segmentation based on Organization Size

Small Enterprises
Medium Enterprises
Large Enterprises
Segmentation based on End-Users

IT and Telecom
Automotive
Healthcare
Aerospace and Defense
Retail
Government
BFSI
Education
Media and Entertainment
Agriculture
Other End Users
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America