Global Machine Learning Market - Overview
According to a recent study report published by the Market Research Future, the global Market of Machine Learning is booming and expected to gain prominence over the forecast period. Globally, the market for Machine Learning has been rising up owing to the increasingly automated lifestyle. Hence, the global market of Machine Learning is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period. Machine Learning Market share is expected to reach 106.52 Billion by 2030, with a CAGR of 38.76% during the forecast period 2020-2030.
The factors that promotes the growth of machine learning are its diverse application and its ability to learn and solve real life problems from data. The market of machine learning is gearing up with an accelerating pace from diagnosing disease to driving cars to stopping crimes. With the growth of digital marketing industry which represents exciting one in it arenas, where machine learning is applied.
Machine Learning is a part of Artificial Intelligence (AI) that grants computers the capability to learn without being detailed programmed. It mainly focuses on the advancement of the computers programs that can be switched when exposed to new data. It helps the computer to find the hidden insights without being explicitly programmed where to look. It has multiple uses in today's technology market concerning with safety and security such as face detection, face recognition, Image classification, Speech recognition, antivirus, Google, antispam, genetic, signal diagnosing, whether forecast and many more.
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On one side of Machine Learning are the raw data and on the other side the data models. Machine Learning enables data-driven decision systems to continuously learn from new data and adapt itself to deliver "reliable and repeatable" results. The newer technologies like Big Data and the Internet of Things have given a new leash to the traditional Machine Learning practices. The variety of applications that Machine Learning supports includes search engines, image recognition, speech analysis, filtering tools, and robotics. In the recent future, the global community will witness a tremendous growth of smart apps, digital assistants, and main-stream use of Artificial Intelligence. Machine Learning will proliferate the mobile market and enter the territories of drones and self-driving cars. More domain-specific and Machine Learning-enabled technologies will emerge this year.
Big Data is exploding in volume, velocity, and variety. Infrastructure requirements to process petabytes of data can overwhelm enterprise operating on a limited IT budget. To reach the global marketplace and capture, curate and analyze insights from millions of data sources in real-time, marketing teams need to apply Machine Learning at scale. Cloud based infrastructure and applications are essential to web scale data analytics and Machine Learning.
Market Segmentation
The Machine Learning Market is segmented based on services, components, verticals, and end-users. The service segment of the market includes professional and managerial services. Hardware and software segments are placed under the components segment. The market is divided into BFSI, Media and Entertainment, Automotive, Telecommunication, Retail and E-commerce, Education, Healthcare, Government and Defense, and others in the vertical segment. All these vertical sectors are crucial in the global market. Based on the end-users and organization size, the market is classified into Large Enterprise, Small, and Medium-Sized Enterprises.
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Regional Analysis
According to the geographical status, the Machine Learning Market covers major reasons such as North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific. Among all these above regions, the North American market is considered the dominating region to reach a good CAGR during the forecast period. The region is showing good progress due to key players in the developed countries implementing their new ideas and advanced technologies in the research and development sector.
The Asia Pacific regions are even estimated to reach their estimated CAGR value due to industry progress regarding business productivity. The Asian markets are even offering experienced machine learning techniques and serve as the most efficient region of the market.
Key Players
- Google (United States)
- Amazon.com (United States)
- Intel Corporation (United States)
- Facebook Inc (United States)
- Microsoft Corporation (United States)
- IBM Corporation (United States)
- Baidu Inc (China)
- Wipro Limited (United States)
- Nuance Communications (United States)
- Apple Inc (United States)
- Cisco Systems, Inc (United States)
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1 Executive Summary
1.1 Market Attractiveness Analysis 17
1.1.1 Global Machine Learning Market, By Component 18
1.1.2 Global Machine Learning Market, By Organization Size 19
1.1.3 Global Machine Learning Market, By Vertical 20
1.2 Global Machine Learning Market, By Region 21
2 Market Introduction
2.1 Definition 22
2.2 Scope Of The Study 22
2.3 Market Structure 22
3 Research Methodology
3.1 Research Process 23
3.2 Primary Research 24
3.3 Secondary Research 25
3.4 Market Size Estimation 25
3.5 Forecast Vertical 26
3.6 List Of Assumptions 27
4 Market Insights
5 Market Dynamics
Continued...
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