Overview and Scope
Reinforcement learning (RL) is a machine learning paradigm where an agent learns to make decisions by interacting with an environment. It is used across various applications and industries due to its versatility in solving problems where agents interact with environments to achieve specific goals.
Sizing and Forecast
The reinforcement learning market size has grown exponentially in recent years. It will grow from $8.14 billion in 2023 to $10.49 billion in 2024 at a compound annual growth rate (CAGR) of 29.0%. The growth in the historic period can be attributed to increase in computing power, rise in data availability, industry-specific applications, open-source frameworks, and demonstrated success in real-world applications.
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Segmentation & Regional Insights
The reinforcement learning market covered in this report is segmented –
1) By Deployment: On-Premises, Cloud-Based
2) By Enterprise Size: Large, Small And Medium Enterprises
3) By End-user: Healthcare, Banking Financial Services And Insurance (BFSI), Retail, Telecommunication, Government And Defense, Energy And Utilities, Manufacturing
North America was the largest region in the reinforcement learning market in 2023. The regions covered in the reinforcement 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
The increase in industrial automation is expected to propel the growth of the reinforcement learning market going forward. Industrial automation refers to the use of advanced technologies, control systems, and machinery to automate industrial processes and operations. Reinforcement learning (RL) is increasingly being used in industrial automation due to its ability to learn optimal control policies from interaction with the environment without the need for explicit programming. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, there will be 23,000 industrial robots operating in UK factories in 2021, an increase of 6% from the previous year. Further, sales of new robots were up by 8% to 2,205 units in 2020. Therefore, the increase in industrial automation is driving the growth of the reinforcement learning market.
Key Industry Players
Major companies operating in the reinforcement learning market report are Google LLC, Microsoft Corp., Metadata Platforms Inc., Tencent Holdings Ltd., Amazon Web Services Inc., Intel Corp., International Business Machines Corporation, SAP SE, Nvidia Corp., Hewlett Packard Enterprise LP, ABB Ltd., Salesforce Inc., Cognizant Technology Solutions India Pvt. Ltd., Baidu Inc., Yandex LLC, SAS Institute, Sentient Technologies LLC, Unity Technologies Inc., TIBCO Software Inc., SenseTime Group Ltd., Zoox Inc., Open AI Inc., DeepMind Technologies Limited, Vicarious Surgical Inc., RapidMiner Inc.
The reinforcement learning market report table of contents includes:
1. Executive Summary
2. Reinforcement Learning Market Characteristics
3. Reinforcement Learning Market Trends And Strategies
4. Reinforcement Learning Market – Macro Economic Scenario
5. Global Reinforcement Learning Market Size and Growth
…
32. Global Reinforcement Learning Market Competitive Benchmarking
33. Global Reinforcement Learning Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Reinforcement Learning Market
35.Reinforcement Learning Market Future Outlook and Potential Analysis
36. Appendix
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