Machine Learning as a Service Market Predicted to Experience Significant Growth by 2029: Google, BigML, FICO

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A new market research report predicts that the global Machine Learning as a Service market will experience a compound annual growth rate of 39.25% between 2023 and 2028. The report, published by HTF Market Intelligence, highlights applicatory areas such as fraud detection and risk analytics, marketing and advertising, network analytics and automated traffic management, augmented reality and predictive maintenance. The study identifies providers such as Amazon Web Services, Google and IBM Corporation as key players in the market and estimates that the industry will grow by about $288.71m by 2028, with a 2017 to 2022 historic market value of $13.95m.

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Frequently Asked Questions (FAQs) Related to the Above News

What is the Machine Learning as a Service market?

The Machine Learning as a Service market refers to the provision of machine learning software and solutions through a cloud-based platform.

What is the predicted compound annual growth rate for the Machine Learning as a Service market?

The predicted compound annual growth rate for the Machine Learning as a Service market is 39.25% between 2023 and 2028.

What are some applicatory areas for Machine Learning as a Service?

Some applicatory areas for Machine Learning as a Service include fraud detection and risk analytics, marketing and advertising, network analytics and automated traffic management, augmented reality and predictive maintenance.

Who are some key players in the Machine Learning as a Service market?

Some key players in the Machine Learning as a Service market are Amazon Web Services, Google, and IBM Corporation.

How much is the Machine Learning as a Service industry expected to grow by 2028?

The Machine Learning as a Service industry is expected to grow by about $288.71m by 2028, with a 2017 to 2022 historic market value of $13.95m.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Kunal Joshi
Kunal Joshi
Meet Kunal, our insightful writer and manager for the Machine Learning category. Kunal's expertise in machine learning algorithms and applications allows him to provide a deep understanding of this dynamic field. Through his articles, he explores the latest trends, algorithms, and real-world applications of machine learning, making it accessible to all.

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