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 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.
Major market players such as – Amazon.com Inc., Apple Inc., Baidu Inc., Cisco Systems Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Nuance Communications, SAP AG, Tencentand Wipro Limited.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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