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Machine Learning as a Service Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

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Machine Learning as a Service Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023


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Machine Learning as a Service Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023



Executive Summary

Machine Learning as a Service in Manufacturing Market-Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

Market Overview

Machine learning has become a disruptive trend in the technology industry with computers learning to accomplish tasks without being explicitly programmed. The manufacturing industry is relatively new to the concept of machine learning. Machine learning is well aligned to deal with the complexities of the manufacturing industry. Manufacturers can improve their product quality, ensure supply chain efficiency, reduce time to market, fulfil reliability standards, and thus, enhance their customer base through the application of machine learning. Machine learning algorithms offer predictive insights at every stage of the production, which can ensure efficiency and accuracy. Problems that earlier took months to be addressed are now being resolved quickly. The predictive failure of equipment is the biggest use case of machine learning in manufacturing. The predictions can be utilized to create predictive maintenance to be done by the service technicians. Certain algorithms can even predict the type of failure that may occur so that correct replacement parts and tools can be brought by the technician for the job.

Market Analysis

According to Infoholic Research, 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.

Segmentation by Components

The market has been analyzed and segmented by the following components-Software Tools, Cloud and Web-based Application Programming Interface (APIs), and Others.

Segmentation by End-users

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.

Segmentation by Deployment Mode

The market has been analyzed and segmented by the following deployment mode, namely public and private.

Regional Analysis

The market has been analyzed by the following regions as Americas, Europe, APAC, and MEA. The Americas holds the largest market share followed by Europe and APAC. 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.

Vendor Analysis

Some of the key players in the market are Microsoft, Amazon Web Services, Google, Inc., and IBM Corporation. The report also includes watchlist companies such as BigML Inc., Sight Machine, Eigen Innovations Inc., Seldon Technologies Ltd., and Citrine Informatics Inc.

Benefits

The study covers and analyzes the Global MLaaS Market in the manufacturing context. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2017-2023).

It also contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views.

The report covers competitive landscape, which includes M&A, joint ventures and collaborations, and competitor comparison analysis.

In the vendor profile section, for the companies that are privately held, financial information and revenue of segments will be limited.

Machine Learning as a Service in Manufacturing Market-Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

Market Overview

Machine learning has become a disruptive trend in the technology industry with computers learning to accomplish tasks without being explicitly programmed. The manufacturing industry is relatively new to the concept of machine learning. Machine learning is well aligned to deal with the complexities of the manufacturing industry. Manufacturers can improve their product quality, ensure supply chain efficiency, reduce time to market, fulfil reliability standards, and thus, enhance their customer base through the application of machine learning. Machine learning algorithms offer predictive insights at every stage of the production, which can ensure efficiency and accuracy. Problems that earlier took months to be addressed are now being resolved quickly. The predictive failure of equipment is the biggest use case of machine learning in manufacturing. The predictions can be utilized to create predictive maintenance to be done by the service technicians. Certain algorithms can even predict the type of failure that may occur so that correct replacement parts and tools can be brought by the technician for the job.

Market Analysis

According to Infoholic Research, 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.

Segmentation by Components

The market has been analyzed and segmented by the following components-Software Tools, Cloud and Web-based Application Programming Interface (APIs), and Others.

Segmentation by End-users

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.

Segmentation by Deployment Mode

The market has been analyzed and segmented by the following deployment mode, namely public and private.

Regional Analysis

The market has been analyzed by the following regions as Americas, Europe, APAC, and MEA. The Americas holds the largest market share followed by Europe and APAC. 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.

Vendor Analysis

Some of the key players in the market are Microsoft, Amazon Web Services, Google, Inc., and IBM Corporation. The report also includes watchlist companies such as BigML Inc., Sight Machine, Eigen Innovations Inc., Seldon Technologies Ltd., and Citrine Informatics Inc.

Benefits

The study covers and analyzes the Global MLaaS Market in the manufacturing context. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2017-2023).

It also contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views.

The report covers competitive landscape, which includes M&A, joint ventures and collaborations, and competitor comparison analysis.

In the vendor profile section, for the companies that are privately held, financial information and revenue of segments will be limited.

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Charts

CHART 2 RESEARCH METHODOLOGY 17

CHART 3 PORTERS 5 FORCES ON MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET 24

CHART 4 STEPS IN MACHINE LEARNING PROCESS 25

CHART 5 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET SEGMENTATION 27

CHART 6 MARKET DYNAMICS-DRIVERS, RESTRAINTS & OPPORTUNITIES 28

CHART 7 DRO-IMPACT ANALYSIS OF MACHINE LEARNING AS A SERVICE IN MANUFACTURING 34

CHART 8 TECHNOLOGY ROADMAP FOR MACHINE LEARNING AS A SERVICE IN MANUFACTURING 36

CHART 9 MACHINE LEARNING AS A SERVICE IN MANUFACTURING BY GEOGRAPHIES 37

CHART 10 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET IN AMERICAS 38

CHART 11 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET IN EUROPE 39

CHART 12 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET IN APAC 40

CHART 13 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET IN MEA 41

CHART 14 MACHINE LEARNING AS A SERVICE IN MANUFACTURING BY COMPONENTS (USD MILLION) 42

CHART 15 MACHINE LEARNING AS A SERVICE IN MANUFACTURING BY DEPLOYMENT MODE (USD MILLION) 44

CHART 16 MACHINE LEARNING AS A SERVICE IN MANUFACTURING BY END-USERS (USD MILLION) 45

CHART 18 MICROSOFT CORPORATION: SWOT ANALYSIS 51

Tables

TABLE 1 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET BY REGIONS, 2016-2022 (USD MILLION) 41

TABLE 2 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET BY COMPONENTS, 2016-2022 (USD MILLION) 42

TABLE 3 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET BY DEPLOYMENT MODE, 2016-2022 (USD MILLION) 44

TABLE 4 MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET BY END-USERS, 2016-2022 (USD MILLION) 45

Microsoft, Amazon Web Services, Google, Inc., and IBM Corporation


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