Machine Learning Industry To Grow Due To Increasing Requirement For Monitoring And Upgrading Large Data Computational Models

 

 

Machine learning industry data book covers machine learning, deep learning, natural language processing market.

 

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 25.58 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 35.6% from 2022 to 2030. Artificial Intelligence (AI) is an emerging technology transforming how businesses and people operate. Through the development of several digital services and products, as well as supply chain optimization, these technologies have revolutionized the consumer experience. While some startups concentrate on solutions for specialized domains, numerous technology firms invest in this area to create AI platforms. Machine Learning (ML), one of the AI approaches, is getting a lot of momentum in the industry due to its quick progress.

 

The North America segment dominated the market in 2022 with a revenue share of 29.5%. With the increasing impact of machine learning on society, there is a growing emphasis on ethical AI and responsible AI practices in North America. Organizations prioritize fairness, transparency, and accountability in machine learning models and algorithms. Efforts are being made to mitigate biases, ensure privacy protection, and address ethical considerations related to AI applications. Regulatory frameworks, guidelines, and industry standards are being developed to govern the region's responsible use of machine learning.

Machine learning and AI technologies are being quickly adopted in Asia Pacific nations, including China, India, and South Korea. Emerging economies use AI to boost productivity, promote economic growth, and tackle societal issues. The region's machine-learning industry is expanding due to government efforts, investments in R&D, and robust technological ecosystems. For instance, In January 2023, Baidu Inc. intended to introduce a chatbot service using artificial intelligence similar to OpenAl's ChatGPT. In March, the biggest search engine in China plans to release a ChatGPT-like app, first incorporating it within its core search functions.

 

Deep Learning Market Insights

The global deep learning market size was valued at USD 34.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 34.3% from 2022 to 2030. The technology is gaining prominence because of advancements in data center capabilities, high computing power, and its ability to perform tasks without relying on human input. Moreover, the rapid adoption of cloud-based technology across several industries is fueling the growth of the deep learning industry.

North America dominated the market with a revenue share of over 36.8% in 2022, which is attributed to increased investments in artificial intelligence and neural networks. The high adoption of image and pattern recognition in the region is expected to open new growth opportunities over the forecast period. Moreover, the region is one of the early adopters of advanced technologies, rendering organizations to adopt deep learning capabilities at a faster pace.

Furthermore, increased government support is expected to provide a positive impact on the growth of the industry in the region. The establishment of subcommittees on artificial intelligence and machine learning within the federal government is providing traction for growth.

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

 

Natural Language Processing Market insights

The global natural language processing market size was valued at USD 18.51 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 41.3% from 2022 to 2030. Natural language processing (NLP) is a prominent component of artificial intelligence, it has applications in consumer chatbots and digital assistants and commercial applications like sentiment analysis, text analysis, voice sense (speech analysis), and change effect analysis. The NLP market is witnessing rapid growth owing to the rapid acceptance of novel technology advancements. Additionally, the growing requirement for data management and increased complexity in major businesses is also fostering the growth of the industry.

North America is estimated to hold the largest revenue share of 30.7% in 2022. The region dominates AI and machine learning technologies, making it one of the key marketplaces for natural language processing technologies. Further, the prevalence of key market participants in the U.S. drives innovation in the region subsequently fueling the natural language processing market growth. Regional governments are also increasingly encouraging the use of AI, ML, and NLP technologies, which is allowing market participants to expand their presence in the region.

Asia Pacific is projected to expand at the highest CAGR of 42.7% during the forecast period. The growth is attributable to increasing smartphone usage, rapid technological advancements, the digitalization of economies, and government initiatives in developing countries from the region. Furthermore, this region holds leading positions in cutting-edge industries like robotics and has a strong IT infrastructure, software, and service offerings. These factors would create profitable growth prospects for the market.

Machine Learning Industry Data Book Regional Outlook

• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Rest of Europe
• APAC
o China
o Japan
o India
o Rest of APAC
• South America
o Brazil
o Rest of South America
• MEA

 

Go through the table of content of Machine Learning Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

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. Further, the companies are also focusing on developing new products and services with enhanced capabilities. For instance, In May 2022, Meta announced the launch of a new Al platform MyoSuite.

 

Key players operating in the Machine Learning industry are –

• Advanced Micro Devices, Inc.
• Amazon Web Services, Inc.
• Apple Inc.
• ARM Ltd
• Atomwise Inc.
• Baidu Inc.
• Clarifai Inc.
• Enlitic Inc.
• Google LLC
• Hewlett Packard Enterprise Development LP
• H2O.AI
• HyperVerge
• IBM Corporation
• Inbenta Holdings Inc.
• Intel Corporation
• Just AI Limited
• Linguamatics
• Meta Platforms Inc.
• Microsoft Corporation
• NVIDIA Corporation
• NetBase Quid Inc.
• Oracle Inc.
• SAP SE
• SAS Institute Inc.
• Sensely Inc.
• SoundHound AI, Inc.