Cloud Machine Learning Market: Extensive Analysis of the Current and Emerging Market Trends
October 14, 2021
Increasing adoption of cloud computing services, strong need to understand customer behavior, and advancement in technologies are the major driving factors.PORTLAND, PORTLAND, OR , UNITED STATES, October 14, 2021 /EINPresswire.com/ -- Contrarily, emerging options in application areas, improved connectivity, and an increase in data from IoT platforms are the opportunity factors for the global cloud machine learning market.
Software-as-a-service (SaaS) is an on-demand application, used to manage and rectify the 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 the adoption of cloud monitoring, particularly in large organizations. In contrast to conventional banking application software, it does not require employees for the smooth running of the system.
The various large enterprises have been adopting innovative technology such as artificial intelligence, machine learning, and automation for solving their business problem. A large number of business owners have been saying that many machine learning engineers are facing issues to solve business-related analytical problems. For instance, according to a 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, the lack of technical expertise of cloud-based machine learning services has restricted the growth of the market.
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Key industry players - Amazon.com Inc., Apple Inc., Baidu Inc., Cisco Systems Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Nuance Communications, SAP AG, Tencentand Wipro Limited.
Impact of COVID-19 on Cloud Machine Learning Market:
• 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 are expected to significantly affect the global cloud machine learning market in 2020.
• The worldwide lockdown has led all businesses to shift to online mode, as a result, there is a huge amount of data that is being uploaded on the cloud. Thus, securing and managing data efficiently on the cloud creates demand for the cloud machine learning market.
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