- Machine learning as a service (MLaaS) is considered as a sub category of cloud computing services. Machine learning as a service (MLaaS) is an array of services that offers a wide range of machine learning tools and components to undertake operations with greater efficiency and effectiveness.
- Increased demand for internet of things technology will emerge as the major market growth driving factor. Growing advancements in artificial intelligence technology will further aggravate the growth of the market.
- North America dominates the machine learning as a service (MLaaS) market and will continue to flourish its trend of dominance during the forecast period owing to the rising adoption of cloud based solutions by small and medium scale enterprises.
- Asia-Pacific will however, register the highest CAGR for this period. This is because of the increased penetration of machine learning technology and sustainable growth of IT sector in the region.
- Software Tools segment is expected to dominate the market with a significant share in 2025 due to the increasing demand for advanced data processing, model building, and deployment tools. These tools enable efficient machine learning workflows, offering capabilities such as data storage, model validation, decision tree support, and integration with cloud-based platforms. Their role in automating complex processes across various industries is a key driver for their growing adoption.
