Rising trend of digitalization and expanding IT industry are driving the demand for global deep learning market through the forecast period, 2023-2027.
According to TechSci Research report, “Deep Learning Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global deep learning market is anticipated to grow at a robust CAGR in the forecast period, 2023-2027. Generation of large amounts of data through industry verticals, advancements in deep learning technology, and untapped potential in developing countries are the primary factors driving the growth of the global deep learning market for the forecast period.
Data learning is an advanced technology that makes the use of statistics and predictive modeling to collect, analyze and interpret large amounts of data. This technology is commonly used for image recognition, voice recognition, autonomous vehicles as it finds enormous applications in the manufacturing, retail, automotive, healthcare, and security industry. Data learning technology automatically finds the available data points that enhance the accuracy and efficiency of the decision-making process. The other factors bolstering the global deep learning market demand are the integration of cloud computing and big data analytics technology coupled with investments for research and development activities to develop improved hardware and software processing solutions.
However, the lack of standards and regulations along with high hardware costs may restrain the market growth in the forecast period.
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The global deep learning market is segmented into offering, application, end-user industry, architecture, company, and regional distribution. Based on offering, the market is divided into hardware, software, and services. The hardware segment is leading the market in terms of value and is expected to maintain its dominance throughout the forecast period, 2023-2027. Deep learning technology requires a massive amount of computing power. Graphical processing units are needed to handle large volumes of calculation in multiple cores and have high memory processing capacity.
Based on application, the market is divided into image recognition, signal recognition, and data mining. Image recognition holds the largest share of the global deep learning market. The surge in demand for digital image processing, code recognition, facial recognition, pattern recognition, optical character recognition bolsters the global deep learning market demand through 2027.
Based on the end-user industry, the market is divided into healthcare, retail, automotive, security, manufacturing, and others. The security end-user industry holds the largest market share and is expected to dominate the market for the forecast period. The rise in data security and privacy concerns fuel the need for advanced cybersecurity solutions in organizations. The need to protect critical information of enterprises and avoid chances of data loss is accelerating the adoption of deep learning security solutions. Deep learning techniques are widely employed for fraud detection systems, database management, and cybersecurity.
On the basis of regional analysis, the North American region dominated the market in 2021 and is expected to hold a substantial share of the global deep learning market through the forecast period. The presence of well-developed IT infrastructure and early adoption of advanced technologies by enterprises are the major factors accelerating the demand for deep learning technology in the region.
Major market players operating in the global deep learning market are:
- Amazon Web Services (AWS)
- Google Inc.
- IBM Corporation
- Intel Corporation
- Micron Technology
- Microsoft Corporation
- Nvidia Corporation
- Qualcomm
- Samsung Electronics
- Sensory Inc.
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“Implementation of deep learning technology in the healthcare sector and the ongoing digitization of the healthcare industry is expected to create numerous growth opportunities for the global deep learning market. Deep learning technology is used in image recognition, drug processing, and precision medicine, producing faster and more accurate results. Deep learning is preferred among healthcare research professionals and stakeholders to highlight new disease patterns. It uses predictive analysis and molecular modeling combinations to find insights and cures for cancer. Innovations in deep learning technology to accurately predict and monitor patient’s data is expected to open vast opportunities for the healthcare sector through the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Deep Learning Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Offering (Hardware, Software, and Services), By Application (Image Recognition, Signal Recognition, and Data Mining), By End-User Industry (Healthcare, Retail, Automotive, Security, Manufacturing, and Others), By Architecture (RNN, CNN, DBN, DSN, and GRU), and By Region”, has evaluated the future growth potential of global deep learning market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global deep learning market.
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