North America Machine learning as a Service Market Size, Share & Industry Trends Analysis Report By End User, By Offering, By Organization Size, By Application, By Country and Growth Forecast, 2022 – 2028
The North America Machine learning as a Service Market would witness market growth of 30.7% CAGR during the forecast period (2022-2028).
MLaaS service providers give ascendable and customized technology to businesses, allowing them to select certain services that are right for them. The largest advantage of MLaaS is the independence from having to create in-house infrastructure from the ground up. Many firms, particularly small and medium-sized businesses (SMBs), lack the infrastructure and internal capabilities to manage vast amounts of data. The cost of storing all of this data is a significant expenditure. The MLaaS platform is in charge of data management and storage at this point.
Companies can gain a competitive advantage in the market with the use of machine learning technology and computing resources provided by MLaaS. They can offer similar services to their larger and more established competitors without having to worry about complex and large-scale machine learning and data needs. MLaaS also allows for better and faster decision-making by providing the firm with faster, and sometimes previously unseen insights.
The presence of major R&D investors like IBM, Amazon.com, and Oracle Corporation expands the market size across the region. Furthermore, the market in North America is predicted to develop due to high investments and the presence of established IT infrastructure. For example, the United States' Defense Advanced Research Projects Agency (DARPA) committed USD 2 billion to AI research. North America has a strong innovation environment, fuelled by smart federal investments in sophisticated technology and the presence of visionary scientists and entrepreneurs from globally renowned research institutions, which has accelerated the development of MLaaS.
A huge expansion of 5G, IoT, and linked devices is also occurring in the region. As a result, through virtualization, network slicing, new use-cases, and service requirements, communications service providers (CSPs) must efficiently handle an ever-growing complexity. As traditional network and service management methodologies are no longer viable, this is expected to drive demand MLaaS.
The US market dominated the North America Machine learning as a Service Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,478.9 million by 2028. The Canada market is experiencing a CAGR of 33.7% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 32.5% during (2022 - 2028).
Based on End User, the market is segmented into IT & Telecom, BFSI, Manufacturing, Retail, Healthcare, Energy & Utilities, Public Sector, Aerospace & Defense, and Others. Based on Offering, the market is segmented into Services Only and Solution (Software Tools). Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Marketing & Advertising, Fraud Detection & Risk Management, Computer vision, Security & Surveillance, Predictive analytics, Natural Language Processing, Augmented & Virtual Reality, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hewlett-Packard Enterprise Company, Oracle Corporation, Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.), IBM Corporation, Microsoft Corporation, Fair Isaac Corporation (FICO), SAS Institute, Inc., Yottamine Analytics, LLC, and BigML.
Scope of the Study
Market Segments covered in the Report:
By End User
- IT & Telecom
- BFSI
- Manufacturing
- Retail
- Healthcare
- Energy & Utilities
- Public Sector
- Aerospace & Defense
- Others
- Services Only
- Solution (Software Tools)
- Large Enterprises
- Small & Medium Enterprises
- Marketing & Advertising
- Fraud Detection & Risk Management
- Computer vision
- Security & Surveillance
- Predictive analytics
- Natural Language Processing
- Augmented & Virtual Reality
- Others
- US
- Canada
- Mexico
- Rest of North America
- Hewlett-Packard Enterprise Company
- Oracle Corporation
- Google LLC
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- IBM Corporation
- Microsoft Corporation
- Fair Isaac Corporation (FICO)
- SAS Institute, Inc.
- Yottamine Analytics, LLC
- BigML
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Machine learning as a Service Market, by End User
- 1.4.2 North America Machine learning as a Service Market, by Offering
- 1.4.3 North America Machine learning as a Service Market, by Organization Size
- 1.4.4 North America Machine learning as a Service Market, by Application
- 1.4.5 North America Machine learning as a Service Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market Composition and Scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Competition Analysis - Global
- 3.1 KBV Cardinal Matrix
- 3.2 Recent Industry Wide Strategic Developments
- 3.2.1 Partnerships, Collaborations and Agreements
- 3.2.2 Product Launches and Product Expansions
- 3.2.3 Acquisition and Mergers
- 3.3 Market Share Analysis, 2021
- 3.4 Top Winning Strategies
- 3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
- 3.4.2 Key Strategic Move: (Product Launches and Product Expansions : 2018, Jan – 2022, May) Leading Players
- 3.4.3 Key Strategic Move: (Partnership, Collaboration and Agreement : 2019, Apr – 2022, Mar) Leading Players
- Chapter 4. North America Machine learning as a Service Market by End User
- 4.1 North America IT & Telecom Market by Country
- 4.2 North America BFSI Market by Country
- 4.3 North America Manufacturing Market by Country
- 4.4 North America Retail Market by Country
- 4.5 North America Healthcare Market by Country
- 4.6 North America Energy & Utilities Market by Country
- 4.7 North America Public Sector Market by Country
- 4.8 North America Aerospace & Defense Market by Country
- 4.9 North America Other End User Market by Country
- Chapter 5. North America Machine learning as a Service Market by Offering
- 5.1 North America Services Only Market by Country
- 5.2 North America Solution (Software Tools) Market by Country
- Chapter 6. North America Machine learning as a Service Market by Organization Size
- 6.1 North America Large Enterprises Market by Country
- 6.2 North America Small & Medium Enterprises Market by Country
- Chapter 7. North America Machine learning as a Service Market by Application
- 7.1 North America Marketing & Advertising Market by Country
- 7.2 North America Fraud Detection & Risk Management Market by Country
- 7.3 North America Computer vision Market by Country
- 7.4 North America Security & Surveillance Market by Country
- 7.5 North America Predictive analytics Market by Country
- 7.6 North America Natural Language Processing Market by Country
- 7.7 North America Augmented & Virtual Reality Market by Country
- 7.8 North America Others Market by Country
- Chapter 8. North America Machine learning as a Service Market by Country
- 8.1 US Machine learning as a Service Market
- 8.1.1 US Machine learning as a Service Market by End User
- 8.1.2 US Machine learning as a Service Market by Offering
- 8.1.3 US Machine learning as a Service Market by Organization Size
- 8.1.4 US Machine learning as a Service Market by Application
- 8.2 Canada Machine learning as a Service Market
- 8.2.1 Canada Machine learning as a Service Market by End User
- 8.2.2 Canada Machine learning as a Service Market by Offering
- 8.2.3 Canada Machine learning as a Service Market by Organization Size
- 8.2.4 Canada Machine learning as a Service Market by Application
- 8.3 Mexico Machine learning as a Service Market
- 8.3.1 Mexico Machine learning as a Service Market by End User
- 8.3.2 Mexico Machine learning as a Service Market by Offering
- 8.3.3 Mexico Machine learning as a Service Market by Organization Size
- 8.3.4 Mexico Machine learning as a Service Market by Application
- 8.4 Rest of North America Machine learning as a Service Market
- 8.4.1 Rest of North America Machine learning as a Service Market by End User
- 8.4.2 Rest of North America Machine learning as a Service Market by Offering
- 8.4.3 Rest of North America Machine learning as a Service Market by Organization Size
- 8.4.4 Rest of North America Machine learning as a Service Market by Application
- Chapter 9. Company Profiles
- 9.1 Hewlett Packard Enterprise Company
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.5.2 Acquisition and Mergers:
- 9.2 Oracle Corporation
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 SWOT Analysis
- 9.3 Google LLC
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Product Launches and Product Expansions:
- 9.4 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental Analysis
- 9.4.4 Recent strategies and developments:
- 9.4.4.1 Partnerships, Collaborations, and Agreements:
- 9.4.4.2 Product Launches and Product Expansions:
- 9.5 IBM Corporation
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Regional & Segmental Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Partnerships, Collaborations, and Agreements:
- 9.6 Microsoft Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.5.2 Product Launches and Product Expansions:
- 9.7 Fair Isaac Corporation (FICO)
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expenses
- 9.8 SAS Institute, Inc.
- 9.8.1 Company Overview
- 9.8.2 Recent strategies and developments:
- 9.8.2.1 Partnerships, Collaborations, and Agreements:
- 9.9 Yottamine Analytics, LLC
- 9.9.1 Company Overview
- 9.10. BigML
- 9.10.1 Company Overview
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