Latest News Machine Learning As A Service Market Size Growing At 37.9%

The Global Machine Learning as a Service Market Size accounted for USD 7.1 Billion in 2022 and is projected to achieve a market size of USD 173.5 Billion by 2032 growing at a CAGR of 37.9%. MLaaS allows users to access and utilize pre-built algorithms, models, and tools, making it easier and faster to develop and deploy machine learning applications. Adoption of cloud-based technologies, the need for managing the huge amount of data generated, and the rise in demand for predictive analytics and natural language processing are driving the growth of the Machine Learning as a Service market. North America is expected to hold the largest market share in the Machine Learning as a Service market due to the presence of large technology companies and the increasing demand for advanced technologies in the region.