Machine Learning Market size was valued at US$ 29.01 Bn. in 2022 and the total revenue is expected to grow at 46% through 2023 to 2029, reaching nearly US$ 410.22 Bn
Machine Learning Market Overview:
This Machine Learning market study looks at current and emerging industry trends and dynamics in the global Machine Learning market. Machine Learning Extensive market forecasting for the major market segments is carried out between 2022 and 2029. Extensive Machine Learning market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Machine Learning market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Machine Learning market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Machine Learning market environment. Increased demand for Machine Learning is driving the market. The Machine Learning market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape
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Segmentation:
By Enterprise Size
With a 65% share of the market, large businesses dominated in 2022. Data science and artificial intelligence are being employed increasingly frequently to offer predicted insights into business processes. Large firms are concentrating on utilising deep learning, machine learning, and decision optimisation to produce high business value. Several multinational organisations have made extensive use of machine learning to extract the necessary knowledge from massive data sets and forecast the results of various tasks.
By Deployment
the cloud segment dominated the market with a 60 % share in 2022. Flexibility, automated software updates, disaster recovery through cloud-based backup systems, increased collaboration, monitoring document version control, and data loss prevention with robust cloud storage facilities are factors driving the market growth for machine learning software solutions and services.
By Industry
In the COVID scenario, the introduction of wearable gadgets and sensors that can measure patients’ health in real-time has sparked a spike in demand for machine intelligence applications in the healthcare business. Medical specialists can use the technology to spot trends and analyze data to improve diagnosis and treatment. Machine intelligence is used by banks and other financial institutions to avoid fraud and find key data insights. E-commerce has proven to be a key force in the retail trade industry. Machine intelligence is used by retailers to collect data, evaluate it, and use it to provide customers with individualized shopping experiences. These are some of the aspects that drive the demand for this technology in the financial and retail industries.
by Enterprise Size
Large Enterprise
Small and Medium Enterprise
by Deployment
Cloud
On premise
by Industry
Healthcare
BFSI
Manufacturing
Automotive
Others
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of
1. Amazon Web Services, Inc.
2. Baidu, Inc.
3. Domino Data Lab, Inc.
4. Microsoft Corporation
5. Dataiku
6. Luminoso Technologies, Inc.
7. TrademarkVision
8. SAP SE
9. BigML, Inc.
10. Fair Isaac Corporation
11. Hewlett Packard Enterprise Development LP
12. Intel Corporation
13. IBM Corporation
14. KNIME.com AG
15. RapidMiner, Inc.
16. Angoss Software Corporation
17. H2O.ai
18. SAS Institute Inc.
19. Google, Inc.
20. Alpine Data
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Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Machine Learning market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
COVID-19 Impact Analysis on Machine Learning Market:
The COVID-19 epidemic has had a significant impact on the global Machine Learning industry. Machine Learning Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Machine Learning market to decelerate in 2022. The negative impact of COVID-19 on the Machine Learning market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2022, owing to increased demand for Machine Learning.
Key Questions Answered in the Machine Learning Market Report are:
- Which segment was responsible for the largest share in the Machine Learning market?
- How was the competitive scenario of the Machine Learning market in 2022?
- Which are the key factors responsible for the Machine Learning market growth?
- Which region held the maximum share in the Machine Learning market in 2022?
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