Machine learning to grow at CAGR of 43.7% : 3Pillar Global

The company predicts that the size of the Machine Learning as a Service Market is estimated to grow from $613.4 million in 2016 to $3.76 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 43.7% from 2016 to 2021. Machine learning is a branch of artificial intelligence that aims to simulate intelligent abilities of humans by machines. It relies on a set of algorithms that trains a predictive model by learning from the information hidden inside an existing dataset; the trained model is then validated and tested to discover the accuracy levels, which results in a smart predictive model. The model is built in such a way that it gets smarter over a period of time. "IoT will be the reason to see an exponential growth in Machine Learning segment. There are a multitude of use cases in real life where machine learning has worked very well, such as Financial services, the Government sector, Healthcare, Marketing & Sales, and Transportation to name a few," said Sayantam Dey, Senior Director of Engineering, 3Pillar Global.