Machine Learning as a Service Market by Component, Organization Size, Application, Service and …
NEW YORK, Nov. 9, 2016 /PRNewswire/ — “The need to enhance the decision-making capability of machines is driving the Machine Learning as a service (MLaaS) market”The MLaaS market size is estimated to grow from USD 613.4 million in 2016 to USD 3,755.0 million by 2021, at a Compound Annual Growth Rate (CAGR) of 43.7% from 2016 to 2021. The adoption of cloud-based technologies, strong need to understand customer behavior, and advancements in technologies are increasing the adoption of MLaaS across end users. MLaaS with the help of pattern recognition, advanced analytical methodologies, and APIs is able to make better decisions.
With the use of machine learning algorithm, decision-making abilities improve over time without being explicitly programmed. However, the lack of skilled consultants to deploy machine learning…
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