Cloud Machine Learning Market
Increasing adoption of cloud computing services, strong need to understand customer behavior, and advancement in technologies are the major driving factors for the growth in cloud machine learning market. However, lack of technical expertise can hamper the growth of market. Contrarily, emerging options in application areas, improved connectivity and increase in data from IoT platforms are the opportunity factors for global market.
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Impact of COVID-19 on Cloud Machine Learning Market:
1. Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global cloud machine learning market in 2020.
2. The worldwide lockdown has led all businesses to shift to online mode, as a result there is huge amount of data that is being uploaded on cloud. Thus, to secure and manage data efficiently on cloud creates demand for cloud machine learning market.
3. Businesses which had invested in digital transformation initiatives in the past have proved to be more resilient than companies which are reluctant in adopting emerging technology.
4. Overall, the pandemic is expected to have a positive impact on the global cloud-based cloud machine learning market.
Software-as-a-service (SaaS) is an on-demand application, used to manage and rectify performance of a system. Increasing adoption of SaaS offerings such as human capital management (HCM), customer relationship management (CRM), enterprise resource management, and other financial applications creates a favorable environment for adoption of cloud monitoring, particularly in large organizations. In contrast to conventional banking application software, it does not require employees for smooth running of the system.
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Various large enterprises have been adopting innovative technology such artificial intelligence, machine learning, and automation for solving their business problem. The large number of business owner have been saying that many machine learning engineers are facing issue to solve business related analytical problems. For instance, according to survey conducted by Cloudera, 51% of business leader in Europe said that cloud-based machine learning services is holding them back from implementation due to shortage of skilled employees. Therefore, lack of technical expert of cloud-based machine learning services have restrict to growth of market.
Key benefits of the report:
1. This study presents the analytical depiction of the global cloud machine learning industry along with the current trends and future estimations to determine the imminent investment pockets.
2. The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cloud machine learning market share.
3. The current market is quantitatively analyzed to highlight the market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
4. The report provides a detailed global cloud machine learning market analysis based on competitive intensity and how the competition will take shape in coming years.
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