Artificial Intelligence
At 39.50% CAGR, Global Machine learning as a service (MLaaS) Market Size & Share to Surpass USD 21803.03 Million by 2028: Industry Trends & Forecast Exclusive Insight Report by Vantage Market Research
WASHINGTON, March 16, 2022 (GLOBE NEWSWIRE) — According to a new market research report ” Machine learning as a service Market Size, Share & Trends Analysis Report by Software Tool and Services (Software Tools, Data Storage and Archiving, Cloud and Web-based Application Programming Interface (APIs), Others (Model Validator, Decision Report/Predictor/Training, and Report Storage), by Service (Professional Services, Managed Services), by Enterprise Applications (Marketing and Advertising, Risk Analytics and Fraud Detection, Predictive Maintenance (Pattern recognition & generation, anomaly detection), Augmented Reality (Pattern recognition & generation, object recognition, automated simulation, prediction/recommendation), by Organization Size (SMEs, Large Enterprises), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”, published by Vantage Market Research, the global post COVID-19 market size of the Machine learning as a service Market is expected to grow from USD 2,958.50 Million in 2021 to USD 21803.03 Million by 2028 at a CAGR of 39.50% during the forecast period.
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Machine learning is an artificial intelligence programming application. A major consideration helping the development of the Machine learning as a service Market is the acceptance of cloud-based advancements and innovative advancements into the digital scene. The Machine learning as a service Market is expected to witness significant growth over the next few years, as can be extrapolated from rapid mechanical advancements and a more fundamental need to understand customer behavior. Machine learning as a service is a set of management that delivers machine learning to devices as part of a cloud computing service. Service machine learning vendors offer different tools such as APIs, natural language processing, data visualization, deep learning, and prescient analytics. This is another factor expected to augment growth of the target market. Additionally, in terms of machine learning, the expansion sought to understand customer behavior is driving the global Machine learning as a service Market during the forecast period.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Machine learning as a service market is predicted to grow at a CAGR of roughly 39.50% during the forecast period.
- The Machine learning as a service market was estimated to be worth roughly USD 2,958.50 Million in 2021 and is expected to reach USD 21803.03 Million by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Machine learning as a service market.
List of Prominent Players in the Machine learning as a service Market:
- Microsoft (Washington, US)
- Amazon Web Services (Washington, US)
- Hewlett Packard Enterprises (California, US)
- Google, Inc. (California, US)
- Big ML Inc. (Oregon, US)
- FICO (California, US)
- IBM Corporation (New York, US)
- AT&T (Dallas, US)
- Fuzzy.ai (Montreal, Canada)
- Yottamine Analytics (Washington, US)
- Ersatz Labs (California, US)
- Sift-Science (California, US)
Market Dynamics:
Drivers-
The COVID-19 pandemic has facilitated the interest for machine learning as the world practices social distancing technologies. Incorporation of Machine learning as a service Market should be possible through both software and services relying upon the level and nature of integration. Utilization of warm cameras and group identification frameworks has become typical across air terminals, train stations, and different spots of public visit. This has brought Machine learning as a service Markets under the spotlight of consideration, which in turn is expected to augment the target market. Additionally, the utilization of AI for recognizing the presence of individuals across confined zones in clinics and COVID care focuses have a positive impact on the global machine learning as an service market. The calculations utilized for AI and investigation have improved by a decent pursue lately which creates a dynamic opportunity for the players/suppliers operating in the Machine learning as a service Market.
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Challenges:
Lack of skilled labor to install Machine learning as a service Market is a key factor that may hamper growth of the global Machine learning as a service Market to a certain extent. Additionally, businesses need professional services to customize specific functions to implement on their MLaaS platforms. Stringent compliance issues is another factor expected to restrain the target market.
Regional Trends:
In 2021, North America is relied upon to contribute the biggest share of the overall industry and will keep on developing at a significant rate. North America has been the most forward towards embracing machine learning services. Besides, this area has been incredibly responsive towards taking on the most recent innovative headways like combination advances with cloud, Big Data inside machine learning services. North America is principal in sending machine learning services into numerous applications and areas.
Furthermore, rapid advancements and innovations are taking place in enabling technologies and various solution providers have done a lot of work in these particular areas. For example, Affectiva recently launched its emotion analytics technology, which has the largest data repository of over 2 million facial videos, enabling its customers to achieve high precision with unparalleled insights. In addition, other small and domestic players such as Emotient, Cognitec System, Saffron, Gesturetek, and Palantir have made significant progress in face recognition, gesture recognition, cognitive computing, and neuron analysis which in turn is expected to drive growth of the target market in the next coming years.
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Recent Developments
In April 2021, Microsoft Company expressed an open dataset for transportation, general prosperity, and genome sequencing, business and economy, populace and security, extra help and normal datasets, correlative and predominant datasets, and supplemental and famous arrangements of information to upgrade the accuracy of AI models using a freely accessible dataset.
The report on the Machine learning as a service Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on “Machine learning as a service Market Size, Share & Trends Analysis Report by Software Tool and Services (Software Tools, Data Storage and Archiving, Cloud and Web-based Application Programming Interface (APIs), Others (Model Validator, Decision Report/Predictor/Training, and Report Storage), by Service (Professional Services, Managed Services), by Enterprise Applications (Marketing and Advertising, Risk Analytics and Fraud Detection, Predictive Maintenance (Pattern recognition & generation, anomaly detection), Augmented Reality (Pattern recognition & generation, object recognition, automated simulation, prediction/recommendation), by Organization Size (SMEs, Large Enterprises), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/machine-learning-as-a-service-market-market-538680
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Machine learning as a service Market?
- How will the Machine learning as a service Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Machine learning as a service Market?
- What is the Machine learning as a service market drivers and restrictions?
- What will be the CAGR and size of the Machine learning as a service Market throughout the forecast period?
This market titled “Machine learning as a service Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 2,958.50 Million |
| Projected Market Size in 2028 | USD 21803.03 Million |
| CAGR Growth Rate | CAGR of 39.50% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Software Tool and Services
° Software Tools • Service ° Professional Services • Enterprise Applications ° Marketing and Advertising • Organization Size ° SMEs |
| Region & Counties Covered | • North America
° U.S. • Europe ° U.K • Asia Pacific ° China • Latin America ° Brazil • Middle East & Africa ° GCC Countries |
| Companies Covered | • Microsoft (Washington, US) • Amazon Web Services (Washington, US) • Hewlett Packard Enterprises (California, US) • Google, Inc.(California, US) • BigML Inc. (Oregon, US) • FICO(California, US) • IBM Corporation (New York, US) • AT&T (Dallas, US) • Fuzzy.ai (Montreal, Canada) • Yottamine Analytics (Washington, US) • Ersatz Labs (California, US) • Sift-Science (California, US) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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Artificial Intelligence
Dongfa Group’s Gas Scenario + Digital Twin Technology, Leads the Industry with New AI Trend
–Highlights of the 2024 Exhibition
SHANGHAI, May 23, 2024 /PRNewswire/ — From May 17 to 19, 2024, China(Shanghai) International Metrology Measurement Technology and Equipment Exhibition was held at the Shanghai World Expo Exhibition and Convention Center. Dongfa Group participated in the exhibition, showcasing its latest research achievements. At the expo, Chairman Liu Ming of Dongfa Group conducted the lighting ceremony and announced the official launch of the “Smart Gas Comprehensive Supervision Platform,” demonstrating the convenience and efficiency achieved through the smart management of municipal gas meters.
Dandong Dongfa (Group) Co., Ltd., established in 1962 and headquartered in Singapore, was formerly known as Dandong Thermal Instrument Co., Ltd. As an integrated group company engaged in research, production, and operations, Dongfa Group is dedicated to the development and application of instruments and meters. Its product range includes IC card gas meters, wired direct-reading remote diaphragm gas meters, wireless direct-reading remote diaphragm gas meters, NB-IoT IoT meters, and ultrasonic gas meters. These products incorporate the technical features of similar domestic and international products, offering high accuracy, reliability, and stability, making the company a leading smart gas meter manufacturer in China.
At the expo, Dongfa Group showcased its Smart Gas Comprehensive Supervision Platform, which integrates AI, IoT, cloud computing, and big data. This platform connects the topological structure of all aspects of gas operations and consolidates all relevant data involved in production management and operation maintenance. This integration enhances the comprehensive research and development and operational maintenance capabilities of the big data governance system.
At the same time, Dongfa Group is empowering comprehensive management and control with digital twins, AI, and big data. By leveraging digital twins, AI models, and 5G technology as data elements, the company is constructing a unified citywide network and a digital twin map of the gas pipeline network. This enables deep integration of AI monitoring, pressure and leakage detection, smart terminals, and other sensing devices with gas operations, ensuring the comprehensive safety and supply of urban gas.
Digital twin gas technology not only provides auxiliary support for pipeline design, but also plays a crucial role in intelligent emergency response and precise distribution. Especially in the operation of gas stations, it enables comprehensive real-time monitoring, intelligent integrated operation scheduling, proactive warning, emergency event command plans, and other effects, thereby improving the efficiency and safety of gas management.
However, there have been numerous incidents of data leakage involving smart AI devices in recent years. Sensitive data is being collected or even sold by malicious actors, leading to the disclosure of confidential information, resulting in significant economic losses and even legal risks.
To ensure the security of both enterprise and user data, Dongfa Group utilizes Digital Envelope technology to encrypt and decrypt data packets during data collection and distribution. This approach combines the advantages of both symmetric and asymmetric encryption technologies for secure information transmission, enabling fast, efficient, and secure encryption and decryption processing for the smart gas digital business sector. This ensures the security and integrity of data during transmission.
Visitors at the expo showed strong interest in the new products and technologies exhibited by Dongfa Group. Dongfa Group has always been committed to driving the development of the smart instrumentation industry through technological innovation. Through this exhibition, the company not only showcased its technical prowess but also strengthened communication and collaboration with industry peers. Looking ahead, they aim to join hands in opening a new chapter in the smart instrumentation industry.
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View original content:https://www.prnewswire.co.uk/news-releases/dongfa-groups-gas-scenario–digital-twin-technology-leads-the-industry-with-new-ai-trend-302153974.html
Artificial Intelligence
QNAP S3-compatible Storage Solution “QuObjects” Certified as Veeam® Ready – Object with Immutability
TAIPEI, May 23, 2024 /PRNewswire/ — QNAP® Systems, Inc., a leading computing, networking, and storage solution innovator, today announced that its S3-compatible object storage solution “QuObjects” has qualified as Veeam® Ready – Object with Immutability, applicable for QNAP NAS with QTS and QuTS hero operating systems. This certification underscores the reliability of QuObjects as a secure object backup solution for enterprises, enhancing data management efficiency and upmost security.
QuObjects is the S3 object storage solution for QNAP NAS, boasting read/write speeds 20 times faster than conventional cloud services, along with a highly flexible and scalable architecture to ensure efficient transmission and flexibility in object storage. From object service development to demanding workloads like machine learning and data lakes, QuObjects assists enterprises in achieving diverse application needs with higher cost effectiveness.
QuObjects supports Object Lock to ensure data immutability, further safeguarding against ransomware threats, cyberattacks, or human error. Coupled with access controls and authentication features, it provides comprehensive protection for object data security.
Jimmy Tam, Product Manager of QNAP, stated “Data security is critical for enterprises. With QuObjects certified by Veeam Ready – Object with Immutability, we empower organizations leveraging Veeam solutions to confidently opt for QNAP NAS for on-prem S3 object storage and backup, enjoying rapid transmission, extensive scalability, and steadfast security.”
QNAP is the preferred partner for Veeam object backup solutions. Learn more at Veeam Ready Object Partner and QNAP QuObjects- S3 Object Storage.
For more information and to view the full QNAP NAS lineup, please visit www.qnap.com.
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View original content:https://www.prnewswire.co.uk/news-releases/qnap-s3-compatible-storage-solution-quobjects-certified-as-veeam-ready–object-with-immutability-302148872.html
Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
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