43% CAGR - MLaaS (Machine Learning as a Service) Market Growth Potentially Worth $3755 Million by 2021 Led by Healthcare Industry

PUNE, India, Nov. 3, 2016 /PRNewswire-iReach/ -- The need to enhance the decision-making capability of machines is driving the Machine Learning as a service (MLaaS) market. MLaaS with the help of pattern recognition, advanced analytical methodologies, and APIs is able to make better decisions. With the use of machine learning algorithm, decision-making abilities improve over time without being explicitly programmed. However, the lack of skilled consultants to deploy machine learning services and government and compliance issues are limiting the growth of MLaaS solutions in the market. Healthcare industry among all the verticals is expected to gain the maximum traction during the forecast period.