Machine Learning Industry | Forecast 2030
Machine Learning Industry Data Book Covers Machine Learning, Deep Learning, Natural Language Processing Markets.
Grand View Research’s Machine Learning Industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Machine Learning Market Insights
The global machine learning market size was valued at USD 6.9 billion in 2018 and is anticipated to register a CAGR of 43.8% from 2019 to 2025.
Based on component, the market is divided into hardware, software, and services. The hardware segment is expected to register the highest CAGR over the forecast period. This can be attributed to the growing adoption of hardware optimized for machine learning. The development of customized silicon chips with AI and ML capabilities is driving the adoption of hardware.
Based on enterprise size, the machine learning market is categorized into Small and Medium Enterprises (SMEs) and large enterprises. The large enterprise segment accounted for the leading share in the market in 2018. This is due to the increasing adoption of technologies such as artificial intelligence and data science to inject predictive insights into business operations.
Based on end-use, the market is categorized into BFSI, healthcare, retail, law, advertising and media, agriculture, manufacturing, automotive and transportation, and others. While advertising and media held the leading share in 2018, the healthcare sector is expected to surpass this segment to account for the largest share by the end of the forecast period. This is due to the rising adoption of this technology in emerging healthcare areas. For instance, this technology is being used to predict the probability of death of a person.
Access the Global Machine Learning Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Deep Learning Market Insights
The global deep learning market was valued at USD 49.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) exceeding 33.5% from 2023 to 2030.
The software segment led the market and accounted for a revenue share of more than 48% in 2022. The number of software tools for developers has grown significantly over the last few years. As a result, companies are developing deep learning frameworks through a high level of programming, powerful tools, and libraries that will help design, train, and validate deep neural networks.
The Graphics Processing Unit (GPU) held the largest market share of around 56.3% in 2022. GPUs are a widely used hardware category for improving training and classification processes in Computer Neural Networks (CNNs) as it holds high memory bandwidth and throughput. Moreover, GPU provides better computational ability allowing the system to do multiple parallel processes. Multi-GPU enhances deep learning performance by combining several GPUs in one computer.
Image recognition held the largest market share of around 40.7% in 2022. Deep learning can be used in stock photography and video websites to make visual content discoverable for the user. The technology can be used in visual search, allowing users to search for similar images or products using a reference image.
The automotive end-use industry contributed around 12.83% of revenue share in 2022. The autonomous vehicle is a revolutionary technology that requires a massive amount of computation power. A Deep Neural Network (DNN) can rapidly help the autonomous vehicle perform various tasks without the need for human input.
Natural Language Processing Market Insights
The global natural language processing market size was valued at USD 27.73 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 40.4% from 2023 to 2030.
The solution segment accounted for the dominant revenue share of 72.6% in 2022. The engines, platforms, tools, and interfaces that make up an NLG program process the translation of computer code into a language that is intelligible by humans.
The on-premise segment is estimated to account for the leading share of 59.8% in 2022. The on-premises NLP deployment offers full control, visibility, and authentication security controls over data. In addition, it is easier to scale to match corporate demand and improve efficiency with built-in redundancy. The increased adoption of cloud-based NLP is anticipated to fuel the expansion of the market.
The large enterprise's segment held the leading revenue share of 61.9% in 2022, attributable to the strong demand for predictive approaches to maintain data security. Most businesses have already adopted natural language processing-based tools for processing their data in the cloud owing to easy availability and scalability.
The statistical NLP segment held the largest revenue share of 39.3% in 2022. However, rule-based NLP and hybrid NLP segments are projected to witness prominent growth during the forecast period. Pattern matching, a highly valuable skill in the healthcare sector, is the main emphasis of rule-based NLP. The aforementioned technique is useful for the healthcare sector since it enhances the electronic health record (EHR) process by facilitating the discovery of arbitrary phrases and enhancing data management effectiveness.
The automatic summarization segment is expected to account for the leading share of 17.6% revenue share in 2022. As natural language processing assists compliance teams in analyzing and identifying critical information stored in structured data and uncovering anomalies and hidden patterns from massive datasets with the help of topic tagging, sentiment analysis, and other techniques, NLP tools are also being used more and more in risk and threat detection activities.
The healthcare segment is expected to account for a leading share of 22.9% in 2022. The leading share is attributable to the increasing adoption of advanced technologies and software such as predictive analytics, NLP tools, automation tools, and cloud-based software in the healthcare sector. Healthcare researchers can monitor prominent online comment boards to understand consumer apprehensions during the COVID-19 pandemic.
Machine Learning Market – Global Industry Segmentation
Machine Learning Market, By Component
- Hardware
- Software
- Service
Machine Learning Market, By Enterprise Size
- SMEs
- Large Enterprises
Machine Learning Market, By End-use
- Healthcare
- BFSI
- Law
- Retail
- Advertising & Media
- Automotive & Transportation
- Agriculture
- Manufacturing
- Others
Deep Learning Market, By Solution
- Hardware
- Central Processing Unit (CPU)
- Graphics Processing Unit (GPU)
- Field Programmable Gate Array (FPGA)
- Application-Specific Integration Circuit (ASIC)
- Software
- Services
- Installation services
- Integration services
- Maintenance & support services
Deep Learning Market, By Application
- Image recognition
- Voice recognition
- Video surveillance & diagnostics
- Data mining
Deep Learning Market, By End-use
- Automotive
- Aerospace & defense
- Healthcare
- Manufacturing
- Others
Natural Language Processing Market, By Component
- Solution
- Services
Natural Language Processing Market, By Deployment
- Cloud
- On-premises
Natural Language Processing Market, By Organization Size
- Large Enterprises
- Small & Medium Enterprises
Natural Language Processing Market, By Type
- Statistical NLP
- Rule Based NLP
- Hybrid NLP
Natural Language Processing Market, By Application
- IT & Telecom
- BFSI
- Healthcare
- Education
- Media & Entertainment
- Retail & E-commerce
- Others
Order your copy of the Free Sample of “Machine Learning Industry Data Book - Machine Learning, Deep Learning, Natural Language Processing Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Machine Learning Industry Data Book Regional Outlook
- North America
- S.
- Canada
- Mexico
- Europe
- K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- South America
- Brazil
- Rest of South America
- Middle East & Africa (MEA)
Machine Learning Industry Data Book Competitive Landscape
The market participants are implementing several organic and inorganic growth strategies, including new product launches, product modernizations, collaborations, corporate expansions, and acquisitions and mergers.
Key players operating in the machine learning industry are –
- Advanced Micro Devices, Inc.
- Amazon Web Services, Inc.
- Apple Inc.
- Baidu Inc.
- Atomwise Inc.
- Google LLC
- AI
- Enlitic Inc.
Go through the table of content of Machine Learning Industry Data Book to get a better understanding of the Coverage & Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Market Synopsis:According to Market Research Future (MRFR)’s analysis, the global machine learning market is expected to scale new heights in the upcoming years.
In addition, the market is expected to encash the opportunities unleashed by the technological advancements in the years to come.Machine learning is an Artificial Intelligence integrated program which is excessively used for predictive analysis.
It is being widely adopted by the business houses for making informed decisions to achieve their objectives & goals and ensuring efficiency.
Furthermore, it facilitates a customer-centric approach for reaching to customers.
From healthcare to the automotive sector, it is responsible for acceleration of revenue creation.
It is projected to favor the expansion of the machine learning market across the review period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2494Market Segmentation:By components, the global machine learning market has been segmented into software tools, cloud and web-based APIs, and others.By service, the machine learning market has been segmented into professional services and managed services.By application, the global machine learning market has been segmented into BFSI, healthcare, government, automotive, education, media and entertainment, defense, telecom, retail and e-commerce, and others.By organization size, the machine learning market has been segmented into Small and Medium Enterprises (SMEs), and large enterprises.Regional Analysis:The global machine learning market, by region, has been segmented into North America, Europe, Asia Pacific (APAC) and the Rest of the World (ROW).
