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Machine Learning as a Service (MLaaS) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)

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New York, June 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Machine Learning as a Service (MLaaS) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06106023/?utm_source=GNW
25% during the period of 2022-2027 (henceforth, referred to as the forecast period).

Key Highlights
Machine learning (ML) is a subfield of artificial intelligence (AI) that enables training algorithms to make classifications or predictions through the use of statistical methods, uncovering key insights within data mining projects. These insights subsequently drive decision-making within applications and businesses, ideally impacting key growth metrics. Since it revolves around algorithms, model complexity, and computational complexity, it requires skilled professionals to develop these solutions.
With advancements in data science and artificial intelligence, the performance of machine learning accelerated at a rapid pace. Companies are identifying the potential of this technology, and therefore, the adoption rate of the same is expected to increase over the forecast period. Companies are offering machine learning solutions on a subscription-based model, making it easier for consumers to take advantage of this technology. In addition, it provides flexibility on a pay-as-you-use basis.
Machine learning-as-a-service (MLaaS) is a range of services that provides machine-learning tools as part of Cloud Computing Services. These services from providers offer tools that include data visualization, APIs, face recognition, natural language processing, predictive analytics, and deep learning. The actual computation is handled by the provider’s data centers. The MLaaS model is poised to dominate the market, with users having an option to choose from a wide variety of solutions focused on different business needs. Also, factors such as the increasing adoption of cloud-based services, IoT, and automation, and the growing demand for consumer behavior analysis, are expected to drive the growth of the machine learning-as-a-service market.
Machine learning-as-a-service leverages deep learning techniques for predictive analytics to enhance decision-making. However, the usage of MLaaS introduces security challenges for ML model owners and data privacy challenges for data owners. Data owners are concerned about the privacy and safety of their data on MLaaS platforms. In contrast, MLaaS platform owners worry that their models may be stolen by adversaries who pose as clients.
The COVID-19 pandemic caused many organizations to accelerate their migrations to public cloud solutions since cloud service elasticity can meet unexpected spikes in service demand. Migrations to the cloud helped companies reinvent the way they conduct their businesses in the time of COVID-19. The need for AI services has grown, and many cloud providers offer AIaaS and MLaaS.

Key Market Trends

Increasing Adoption of IoT and Automation to Drive the Market

IoT operations ensure that the thousands or more devices run correctly and safely on an enterprise network and the data being collected is both timely and accurate. While the sophisticated back-end analytics engines work on the heavy lifting of processing the data stream, ensuring the quality of the data is often left to obsolete methodologies. To ensure the rein in sprawling IoT infrastructures, some IoT platform vendors are baking machine learning technology to boost their operations management capabilities.
Machine learning may demystify the hidden patterns in IoT data by analyzing significant volumes of data utilizing sophisticated algorithms. ML inference may supplement or replace manual processes with automated systems utilizing statistically derived actions in critical processes. Solutions built on ML automate the IoT data modeling process, thus, removing the circuitous and labor-intensive activities of model selection, coding, and validation.
Small businesses adopting IoT may significantly save on the time-consuming machine learning process. MLaaS vendors may conduct more queries more quickly, providing more types of analysis to get more actionable information from vast caches of data generated by multiple devices in the IoT network.
As enterprises adopt IoT-based technologies and solutions increasingly, more companies leverage machine learning technologies for data analytics. As a result, MLaaS is expected to drive innovation in IoT. According to Ericsson, total IoT connections were poised to increase from 12.4 billion in 2020 to 26.4 billion in 2026, with a CAGR of 13%. Although MLaaS already integrate with various sensors, MLaaS is poised to a critical role in IoT and automation.
In the State of Automation, artificial intelligence, and machine learning in network management study published by AIOps, in 2019, 85% of respondents surveyed stated that their organization had more than one type of automation. However, only 27% of respondents felt their organization was well prepared for full automation. However, about 65% of respondents surveyed stated that machine learning was highly critical for network management, and it is expected to drive future automation.

North America is Expected to Hold Largest Market Share

North America is expected to hold a significant share in the market owing to the robust innovation ecosystem, fueled by strategic federal investments into advanced technology, complemented by the presence of visionary scientists and entrepreneurs coming together from globally renowned research institutions, which has propelled the development of MLaaS.
The region is also witnessing a significant proliferation of 5G, IoT, and connected devices. As a result, communications service providers (CSPs) need to manage an ever-growing complexity efficiently through virtualization, network slicing, new use-cases, and service requirements. This is expected to drive MLaaS solutions as traditional network and service management approaches are no longer sustainable.
Moreover, major technology firms in the region, such as Microsoft, Google, Amazon, and IBM, have stepped up as major players in the ML-as-a-service race. Because each of the companies has sizeable public cloud infrastructure and ML platforms, this allows the companies to make machine learning-as-a-service a reality for those looking to use AI for everything ranging from customer service to robotic process automation, marketing, analytics, predictive maintenance, etc., to assist in training the AI date models being deployed.
The region’s ML marketplace is changing due to cloud, and serverless computing makes it possible for developers to get ML applications up and running quickly. Additionally, the prime driver of the ML-as-a-service business is information services. The most significant change that serverless computing has brought is eliminating the need to scale physical database hardware.
Such trends allow vendors to introduce ML-as-a-service to simplify the adoption of ML in enterprise adoption and SME. For instance, in December 2020, Calligo launched MLaas to expand the company’s managed data service portfolio to enhance the productivity of businesses, such as SMEs and enterprises, by ensuring data privacy, data quality, security, and accuracy. This helps businesses avoid cost challenges by eliminating the need to hire a data science resource.

Competitive Landscape

The high market consolidation has increased the competition among prominent players such as Microsoft, IBM, Google, and Amazon. To capture a significant share in the market, other players are actively expanding their product portfolios and geographical presence.

February 2022 – Telecom giant AT&T and AI company H2O have collaborated and launched an artificial intelligence feature store for enterprises. This delivers a repository for collaborating, sharing, reusing, and discovering machine learning features to speed AI project deployments and improve ROI.
December 2021 – AWS announced six new Amazon SageMaker capabilities. This will make machine learning even more accessible and cost-effective. This brings together powerful new capabilities, including a no-code environment for creating accurate machine learning predictions more accurate data labeling using highly skilled annotators.
November 2021 – SAS added support for open-source users to its flagship SAS Viya platform. SAS Viya is for open-source integration and utility. The software user established an API-first strategy that fueled a data preparation process with machine learning.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06106023/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Artificial Intelligence

Actuators Market worth $94.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, March 29, 2024 /PRNewswire/ — The Actuators market is estimated at USD 67.7 billion in 2024 and is projected to reach USD 94.8 billion by 2029, at a CAGR of 7.0 % from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth can be attributed to growing industrial automation and use of robots in various sectors like manufacturing and transportation, Developments in areas like sensor technology, connectivity, and control systems, The increasing demand for actuators is fueled by the expansion of sectors like healthcare (medical devices), oil & gas, and aerospace & defense, and the need for improved process control, energy efficiency, and safety regulations in various industries.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=59465451
Browse in-depth TOC on “Actuators Market” 300 – Tables175 – Figures350 – Pages
Actuators Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 67.7 billion
Estimated Value by 2029
$ 94.8 billion
Growth Rate
Poised to grow at a CAGR of 7.0%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Actuation, Application, Type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Issues of leakage in pneumatic and hydraulic actuators
Key Market Opportunities
Increased spending on renewable sources of energy for power generation
Key Market Drivers
Rapid industrialization and utilization of robotics
The Electric segment held the largest growth rate in the Actuators market by actuation.
By actuation, the Actuators market has been segmented into electric, hydraulic, pneumatic, and others. electric Segment to hold the highest growth rate during the forecast period. Electrical actuators use electricity to produce motion. These actuators can be further classified into solenoid actuators and motor-driven actuators. A solenoid used in an electric actuator works on the principle of electromagnetism. Electrical actuators provide control and acceleration at higher speeds. The force for applying thrust can be managed without the requirement for compressed air and the related infrastructure, and hence the total energy consumption in these actuators is lower. Electrical actuators can be used for various applications where linear as well as rotary actuation is required. They can be used for low torque as well as high torque requirements.
The vehicle equipment segment is expected to account for the largest share of Actuators by application in 2024.
By application, the Actuators industry is segmented into industrial automation, robotics, and vehicle equipment. The vehicles and equipment segment includes actuators used in automotive, aircraft, ships, and defense vehicles. These can be either hydraulic, pneumatic, electrical, or mechanical actuators. Actuators are widely used in various systems and sub-systems of an automobile, aircraft, ships as well as defense vehicles.
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Asia Pacific accounts for the largest market share in 2024.
The Actuators market has been studied in North America, Europe, Asia Pacific, Middle East, and Rest of the World. The Asia Pacific region accounts for the largest market share in 2024 as well as throughout the forecast period due to the increasing demand for actuators in the region to enhance the growth of the market. India is expected to show the highest growth rate in Asia Pacific Region for Actuators market.
Major players operating in the Actuators companies are SMC Corporation (Japan), Rockwell Automation (US), Curtiss-wright Corporation (US), ABB Ltd (Switzerland), and Parker Hennifin Corporation (US).
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Military Actuators Market by Application (Air, Land, Naval), System (Electrical, Hydraulic, Pneumatic, Mechanical), Component (Cylinders, Drives, Servo Valves, Manifolds), Type (Linear, Rotary), and Region (2019-2024)
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/global-actuators-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/global-actuators.asp
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Roborock Unveils Global No.1 Robotic Vacuum Cleaner Sales Ranking at International Launch Event

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Certified by Euromonitor, Roborock attributes its rise to the top to embracing a long-term mindset while upholding customer-centric innovation above all else
BEIJING, March 29, 2024 /PRNewswire/ — Roborock, a global leader in ultra-intelligent home robotics engineered to simplify daily life, today announced it has taken the number one spot for robotic vacuum sales worldwide, according to new data by Euromonitor. Celebrating its achievements at a global launch event on the eve of its 10-year anniversary, the brand also revealed a glimpse of what is to come in the form of new product lines while sharing its vision for the future.

Founded in 2014, Roborock owes its success to its long-standing commitment to customer-centric innovation. By delivering meaningful solutions which improve everyday lives, Roborock has built a truly global fanbase, with Euromonitor data confirming that the brand has achieved the number 1 sales position worldwide for robotic vacuum cleaners[1].
“We are so honored to be celebrating this achievement with you all, which was made possible thanks to the ongoing trust and support received over the last 10 years.” Mr. Quan, Roborock President, announced, “Our path to success has been a marathon, not a sprint, as we have always kept in view our brand spirit of “taking the long view in order to do the right thing”. Our unwavering commitment to focusing on delivering true value to our customers is how we have built the brand affinity that has gotten us where we are today – firmly on our way to becoming a global leader in the smart home space.”
Steppingstones on the Path to Success: Roborock Achieves Steady Market Growth on Journey to Become a Global Leading Home Appliance Brand
Further cementing its global success story, the brand also revealed impressive results in many of its key markets. Roborock is now present in over 170 countries, serving over 15 million homes worldwide. According to data from IDC, Roborock ranks number one in Turkey and number two in the US in terms of sales, while also taking the top spot in Germany, Korea, and the Nordics in terms of shipments in 2023[2]. As revealed by Roborock’s latest Financial Earnings Report, the brand recorded a total revenue of 8.65 billion Yuan last year (US$1.22 billion), with total robot vacuum shipments surpassing 2.6 million units. Roborock’s overseas operation recorded revenue growth of 21.42% compared to the prior year and Roborock’s net profit was listed at 2.05 billion Yuan (US$288 million), achieving an overall annual growth rate of 73.32%. This consistent growth across all key markets demonstrates Roborock’s strategic choice to directly address consumer demands and striving for excellence across user experience is resonating with millions worldwide.
Despite these successes, Mr. Quan acknowledged these results were not in themselves the ultimate end goal. Globalization is a vital pillar of Roborock’s mission to become a leader in its field. As such, Roborock plans to expand its global footprint by introducing more innovative products that cater to the unique needs of global users, taking into account the different requirements of various markets, and extending more partnerships worldwide, ensuring that Roborock makes strides overseas on a larger scale and at a faster pace.
Meaningful Innovation: Roborock’s User-Centric R&D Principles and Latest Revolutionary Developments
Roborock’s passion to create value for its consumers propels them to continuously seek out new technological advancements that can serve real consumer pain points. From 2019 to 2023 Roborock invested 1.9 billion Yuan (260 million USD) in Research and Development. Roborock’s approach to take the long term view, ensures R&D teams are encouraged not to seek quick fixes, but to focus on innovation that will truly serve the needs of the end consumer, such as addressing key areas like cleaning capabilities, mapping and navigation, convenience and smart home interconnectivity.
Enhancing the cleaning capabilities of its latest range, Roborock has introduced the FlexiArm Design™ Side Brush, a stretching side brush delivering 100% corner cleaning coverage – elevating the user experience. When it comes to user satisfaction, delivering a low-maintenance, hands-free experience is also paramount. Roborock recently introduced an auto water refill and drainage system, which automatically emptying and replacing dirty water with clean water through pipes during mop washing and tank refilling.
Aside from advanced hardware solutions, Roborock has always invested heavily in the discovery and implementation of emerging technologies that can enhance the functionality and accessibility of its devices. Roborock’s Reactive AI 2.0 Obstacle Recognition technology can recognize and differentiate between floor and room types, accurately identifying 73 different obstacles to navigate, including floor mirrors and pet supplies. Roborock SmartPlanTM function uses an advanced AI algorithm to intelligently plan and optimize cleaning paths and settings based on user habits and specific home layout, making the cleaning process even more intelligent and efficient. The S8 MaxV Ultra is now certified by CSA for Matter, and other Roborock products will follow in the near future suit to enhance connectivity.
Enriching Roborock’s Product Portfolio to Enhance the Quality of Life for Consumers
Concluding the exciting launch, Roborock unveiled three exciting new product lines to its portfolio of intelligent automated devices. Roborock’s product managers took to the stage to introduce three new robotic vacuums – the G20S (S8 MaxV Ultra), V20 and P10S Pro. 
The G20S (S8 MaxV Ultra) launched to great acclaim at CES 2024 and is Roborock’s most technologically advanced one-stop cleaning solution to date. A highly intuitive device, the G20S is equipped with FlexiArm Design™ Side Brush, a unique robotic arm that enables complete corner cleaning capabilities, and an extra side mop for edge cleaning, alongside Reactive AI 2.0 obstacle recognition, built-in intelligent voice assistant, and RockDock® Ultra which automatically maintains the robot cleaner using hot water and heated air with intelligent mop re-washing and re-mopping capabilities. The G20S (S8 MaxV Ultra) will be available to purchase globally from April, retailing for USD 1799.99 / EURO 1499.
Initially debuting in China, the V20 will be the world’s first robotic vacuum cleaner equipped with dual-vision 3DToF solid-state LiDAR navigation and obstacle avoidance system, which observes the reflection of modulated light to offer better depth accuracy for even more intuitive floor mapping. With an ultra-thin 8.2cm body and equipped with FlexiArm DesignTM corner and edge cleaning, DuoRoller Riser Brush, and maintenance-free cleaning dock, the V20 is set to redefine automated, low maintenance cleaning.
Finally, the P10S Pro is positioned as the perfect partner for those hard-to-reach spots. Combining FlexiArm DesignTM with an extendable side brush and mop, the device provides 100% corner coverage and the ultimate in edge-cleaning, taking even the trickiest surfaces in its stride.
These solutions further solidify Roborock’s commitment to satisfying the needs of its customers in its fearless pursuit of innovation. Stay tuned for further market specific launch announcements of these innovations and more. 
About Roborock
Roborock is committed to innovation in researching, developing, and producing home cleaning devices, particularly robotic, cordless, and wet/ dry vacuum cleaners. Every Roborock product has been designed with an eye on solving genuine problems, so Roborock customers can live better lives. Currently, Roborock is available in more than 40 countries, including the U.S., Germany, France, and Spain. The company operates out of four locations, with offices in Beijing, Shanghai, Shenzhen, and Hong Kong. For more information visit https://global.roborock.com/.
[1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.
[2] Data based on IDC Quarterly Smart Home Device Tracker, 2023 Q4. Rankings for the US and Turkey are based on sales value, while rankings for Germany, the Nordic countries (Denmark, Finland, Norway, Sweden), and Korea are based on shipment volume
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Cato Shatters SASE Speed Record

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Cato doubles throughput without any hardware upgrades, underscoring the value of a fully cloud-native platform.
TOKYO, March 29, 2024 /PRNewswire/ — Cato Networks, the SASE leader, announced a new SASE throughput record here at the Porsche Studio Ginza ahead of the 2024 Tokyo E-Prix, achieving 10 Gbps without hardware upgrades. At 10 Gbps, Cato became the first SASE platform to compete not only in the ABB FIA Formula E World Championship but also to deliver SASE performance so powerful that the TAG Heuer Porsche Formula E Team could transfer all the data of an entire Formula E season in under 2.5 hours instead of 3.5 days.

“We’re very excited to be partnering with the TAG Heuer Porsche Formula E Team at the 2024 Tokyo E-Prix,” says Shlomo Kramer, CEO and co-founder of Cato Networks. “The incredible speeds of the Gen3 racecars are only matched by the unprecedented throughput of Cato SASE Cloud. With 10 Gbps, we enable enterprises to replace their data center firewalls and enjoy all the benefits of a true, cloud-native SASE platform.”
Cato SASE Speed Record Up to 3x Other SASE Solutions on the Grid
As SASE continues its upmarket movement, higher capacity connections become essential for meeting various business needs such as bandwidth-intensive applications (cloud storage and backup, disaster recovery), hybrid clouds connecting two parts of the data center for inter-application processing, and large campuses.
To meet those challenges, Cato is introducing 10 Gbps throughput on a single, encrypted tunnel. The doubling of Cato Cloud Interconnect and Cato Socket performance comes without costly hardware upgrades, typical of appliance-based architectures. Compute-intensive operations that usually degrade edge appliance performance — packet encryption/decryption, security inspection, and the like — are handled by multiple Cato Single Pass Processing Engine (SPACE) cores, concurrently processing real-time traffic within Cato PoPs (Points of Presence). Parallel network flow processing is also enabled within the Cato Socket to maximize throughput end-to-end.
By contrast, SASE solutions implemented as virtual machines (VMs) in the cloud or modified web proxies remain limited to under 2 Gbps of throughput for a single tunnel. Appliance-based SASE
solutions top out at just under 3 Gbps. The lower throughputs force enterprises to artificially split traffic within locations across multiple tunnels from the edge appliance to the SASE PoP, a layer of complexity and risk that does not exist in Cato SASE Cloud.
Tokyo: A Place for Fast Cars and Fast Networks
The 2024 Tokyo E-Prix is the perfect venue to highlight Cato’s breakthrough performance. In the fast-paced world of Formula E, every second counts. The sport is intensively data-driven, where teams rely on their IT networks to analyze data and make critical, split-second strategy decisions to achieve a winning edge. Multiple computers in the car produce 100 to 500 billion data points per event, with more than 400 gigabytes of data generated and sent back to the cloud for analysis.
With 16 E-Prix this season, many in regions lacking Tokyo’s developed infrastructure, the ABB FIA Formula E Word Championship presents an incredible networking and security stress test. Cato SASE Cloud provides fast, secure, and reliable access to the TAG Heuer Porsche Formula E Team, regardless of location.
Tokyo, Osaka, and soon Sapporo form the three PoP locations within Japan. Within Tokyo, three Cato PoPs service the region; another two PoPs service Osaka. A sixth PoP is opening in Sapporo. Should users or locations lose access to any one PoP, they would immediately fail over to one of the other PoPs in Japan, providing the TAG Heuer Porsche Formula E Team and all Cato customers with incredibly reliable access in Tokyo – and across the globe.
To learn more about Cato SASE Cloud, visit us at https://www.catonetworks.com/platform/
To learn more about Cato’s partnership with the TAG Heuer Porsche Formula E Team, visit us at https://www.catonetworks.com/porsche-formula-e-team/.
About Cato Networks
Cato Networks is the leader in SASE, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com.

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