Machine Learning as a Service (MLaaS) Market will witness a CAGR of 49% during the forecast period 2017-2023
The market is propelled by certain growth drivers such as the increased application of advanced analytics in manufacturing, high volume of structured and unstructured data, the integration of machine learning with big data and other technologies, the rising importance of predictive and preventive maintenance, and so on. The market growth is curbed to a certain extent by restraining factors such as implementation challenges, the dearth of skilled data scientists, and data inaccessibility and security concerns to name a few.
The market has been analyzed and segmented by the following components - Software Tools, Cloud and Web-based Application Programming Interface (APIs), and Others.
The market has been analyzed and segmented by the following end-users, namely process industries and discrete industries. The application of machine learning is much higher in discrete than in process industries.
The market has been analyzed and segmented by the following deployment mode, namely public and private.
The Americas is experiencing a high adoption rate of machine learning in manufacturing processes. The demand for enterprise mobility and cloud-based solutions is high in the Americas. The manufacturing sector is a major contributor to the GDP of the European countries and is witnessing AI driven transformation. China's dominant manufacturing industry is extensively applying machine learning techniques. China, India, Japan, and South Korea are investing significantly on AI and machine learning. MEA is also following a high growth trajectory.
Rising Importance of Predictive and Preventive Maintenance
Increased Adoption of Advanced Analytics in Manufacturing
Integration of Machine Learning with Big Data and Other Technologies
High Volume of Structured and Unstructured Data
Rigid Business Models
Dearth of Skilled Data Scientists
Affordability of Organizations
Data Security Concerns and Data Inaccessibility
Untapped Manufacturing Data
Digitization Wave in Manufacturing
Increasing Complexities in Manufacturing Processes
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Trends, Roadmap and Projects
7 Geographic Segmentation: Market Size & Analysis
8 Global Generalist
9 Companies to Watch for
Amazon Web Services (Subsidiary of Amazon.com, Inc.)