Machine Learning As A Service Market Size Reflects Ai’s Transformative Power

The Machine Learning as a Service (MLaaS) market is rapidly expanding due to growing demand for AI-powered solutions, scalability, and cost-effectiveness. The global MLaaS market was valued at $13.95 billion in 2020 and is estimated to reach $302.66 billion by 2030, growing at a CAGR of 36.2%. Factors driving the market include growth in demand for cloud computing, increase in adoption of analytical solutions, growth of artificial intelligence & cognitive computing market, and increased application areas. MLaaS providers are increasingly offering industry-specific solutions to address unique challenges in fields such as healthcare, finance, and manufacturing. AutoML and no-code/low-code MLaaS platforms are also gaining traction.