PUNE, India, November 2, 2016 /PRNewswire/ -- According to a new market research report, "Machine Learningasa Service (MLAAS) Market by Component (Software Tools, Services), Organization Size, Application (Marketing, Risk Analytics & Fraud Detection, Predictive Maintenance, Network Analytics), Service and Region - Global forecast to 2021", published by MarketsandMarkets, the MLaaS market size is estimated to grow from USD 613.4 Million in 2016 to USD 3,755.0 Million by 2021, at a CAGR of 43.7% from 2016 to 2021. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 72 market data Tables and 51 Figures spread through 137 Pages and in-depth TOC on"Machine Learningasa Service (MLAAS) Market"http://www.marketsandmarkets.com/Market-Reports/machine-learning-as-a-service-market-183667795.htmlEarly buyers will receive 10% customization on this report. The major forces driving this market are the adoption of cloud-based technologies and strong need to understand customer behavior. The high demand for private clouds among enterprises is also promoting cloud-based applications that help boost the adoption of MLaaS solutions in the networking market. The Small and Medium Businesses (SMBs) segment is expected to grow at the highest CAGR in the MLaaS market during the forecast period SMBs prefer MLaaS as the data provided by the machine learning application is dynamic. With the help of predictive analytics machine learning, algorithms not only give real-time data but also predict the future. SMBs can use machine-learning solutions for fine-tuning their supply chain by predicting a product demand and providing suggestions on the timing and quantity of supplies required in order to meet customers' expectations.