The global machine learning as a service market is projected to rise by USD 14 billion by 2028, according to a new report by Gen Consulting Company. It is anticipated to expand at a CAGR of 38.7 percent during the forecast period.

This industry report offers market estimates of the global market, followed by a detailed analysis of the application, organization size, end user, and region. The global market data on machine learning as a service can be segmented by application: marketing and advertisement, predictive maintenance, automated network management, fraud detection and risk analytics, others. The marketing and advertisement segment held the largest revenue share in 2021. Machine learning as a service market is further segmented by organization size: large enterprises, small and medium enterprises (SMEs). Among these, the large enterprises segment was accounted for the highest revenue generator in 2021. Based on end user, the machine learning as a service market is segmented into: aerospace and military, automotive, financial, government, IT and telecom, healthcare, retail, others. The financial segment captured the largest share of the market in 2021. On the basis of region, the machine learning as a service market also can be divided into: North America, Europe, Asia-Pacific, Rest of the World. According to the research, North America had the largest share in the global machine learning as a service market.

The global machine learning as a service market is highly competitive. The leading players in the machine learning as a service market include Alphabet Inc. (Google LLC), Amazon Web Services Inc., Fair Isaac Corporation (FICO), The Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation, SAS Institute Inc.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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