Overview and Scope
Deep learning refers to a system with a collection of machine learning algorithms that models high-level abstractions in data through an architecture consisting of multiple non-linear transformations, carries out engineering activities on their own, processes a huge volume of unstructured data, and offers precise results compared to traditional machine learning. Deep
Sizing and Forecast
The deep learning market size has grown exponentially in recent years. It will grow from $17.97 billion in 2023 to $25.15 billion in 2024 at a compound annual growth rate (CAGR) of 40.0%. The growth in the historic period can be attributed to global investments and funding, adoption in autonomous systems, focus on explainability and interpretability, emergence of generative models, growth of edge computing..
The deep learning market size is expected to see exponential growth in the next few years. It will grow to $100.02 billion in 2028 at a compound annual growth rate (CAGR) of 41.2%. The growth in the forecast period can be attributed to global economic and geopolitical factors, security and robustness improvements, hybrid and federated learning approaches, expansion into new industry verticals, increasing adoption in healthcare.. Major trends in the forecast period include augmentation of human abilities, quantum computing for deep learning, cross-industry collaborations and open source contributions, hybrid cloud and multi-cloud deployments, enhanced computer vision applications, responsible ai and ethical considerations..
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Segmentation & Regional Insights
The deep learning market covered in this report is segmented –
1) By Product: Hardware, Software, Services
2) By Application: Image Recognition, Signal Recognition, Data Mining
3) By End User: BFSI, Automotive, Telecom and Media, Retail, Manufacturing, Healthcare, Other End Users
North America was the largest region in the deep learning market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the deep learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing adoption of cloud-based services is significantly contributing to the growth of the deep learning market. Cloud-based services have advanced significantly, to the point that they can now provide enterprises with the ability to run their whole business through their cloud-based platforms. As a result, businesses are increasingly convinced that transferring their tasks from on-premises to cloud-based frameworks. For instance, according to a report by Harvard Business Review Analytic Services on cloud computing, over 74% of organizations believe that cloud computing gives them a competitive advantage over their competitors. Therefore, the increasing adoption of cloud-based services is expected to increase the demand for the deep learning market during the forecast period.
Key Industry Players
Major companies operating in the deep learning market report are Amazon Web Services Inc., Google LLC, IBM Corporation, Intel Corporation, Micron Technology, NVIDIA Corporation, Advanced Micro Devices Inc., Wave Computing Inc., Cerebras Systems Inc., Mythic, Sensory Inc., H2O. ai, KNIME (Konstanz Information Miner), Dataiku, Databricks Inc., Veritone Inc., DataRobot Inc., SoundHound AI, Unity Technologies, Interactions LLC, Convoy Inc., Heartflow Inc., Imandra Inc., MindsDB SF AI Learning, Neteera Technologies, Clarifai Inc., Orbital Insight, Eko India Financial Services Pvt. Ltd., CHARM Therapeutics, NoTraffic U. S. Inc.
The deep learning market report table of contents includes:
1. Executive Summary
2. Deep Learning Market Characteristics
3. Deep Learning Market Trends And Strategies
4. Deep Learning Market – Macro Economic Scenario
5. Global Deep Learning Market Size and Growth
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31. Global Deep Learning Market Competitive Benchmarking
32. Global Deep Learning Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Deep Learning Market
34. Deep Learning Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Amazon Web Services Inc
Google LLC
IBM Corporation
Intel Corporation
Micron Technology
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