Machine Learning as a Service (MLaaS) Global Research Report 2024: Market to Surpass $200 Billion by 2028 - Long-term Forecast to 2033 [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
Market Report 2024" report has been added to ResearchAndMarkets.com's offering. The machine learning as a service (MLaaS) market size has grown exponentially in recent years. It will grow from $42.09 billion in 2023 to $57.88 billion in 2024 at a compound annual growth rate (CAGR) of 37.5%. The growth in the historic period can be attributed to the growth of big data, increased adoption of machine learning, advancements in deep learning, the rise of data science and AI, and increased awareness of predictive analytics. The machine learning as a service (MLaaS) market size is expected to see exponential growth in the next few years. It will grow to $203.1 billion in 2028 at a compound annual growth rate (CAGR) of 36.9%. The forecasted growth in the upcoming period can be attributed to several factors, including the increasing availability of industry-specific solutions, the rise of explainable AI, the expansion of autonomous systems, the adoption of hybrid cloud deployments, and the
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AMZN
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