The global machine learning market is anticipated to value USD 96.7 billion until 2025. It is also expected to register a CAGR of 43.8% over the forecasted years, 2019 to 2025. An exponential increase in the generation of data coupled with the need for its analysis for forecasting and predicting future outcomes are projected to propel the demand for ML technology.
The segment of large enterprises dominated the global market on account of increasing usage of data science and AI technologies for driving business processes. The SME segment is projected to grow at a substantial growth rate owing to cost-effective and easy deployment offered by ML platforms.
The end-use segment of advertising & media dominated the global market in 2018 due to its increasing usage for the prediction of consumer’s behavior. On the other hand, the healthcare segment is projected to account for the largest share in the upcoming years owing to the rising adoption of ML-based technologies across healthcare areas for predicting and forecasting of health status among the millennial population.
North America dominated the global market in 2018 owing to the rising adoption of ML technologies by the majority of IT service providers residing across this region. The Asia Pacific is anticipated to register the fastest growth over the forecasted years on account of increasing usage of ML technologies across emerging markets in countries like India and China.
The global market includes key players such as Intel Corporation; Baidu Inc.; H2O.ai; Google Inc.; Microsoft Corporation; and SAP SE. They are also engaged in developing partnerships for gaining a competitive advantage. Also, huge investments are being undertaken by these players to facilitate their R&D activities.
To request a sample copy or view summary of this report, "please" click the link below:
Further key findings from the report suggest:
• In 2018, the segment of large enterprises held a significant share across the market of machine learning.
• The segment of advertising & media accounted for largest share across the global market in 2018.
• In 2018, North America dominated the global machine learning market.
• The key players in this market are Intel Corporation; Baidu Inc.; H2O.ai; Google Inc.; Microsoft Corporation; and SAP SE.
Million Insights has segmented the global machine learning market based on component, enterprise size, end use, and region:
Machine Learning Component Outlook (Revenue, USD Million, 2014 - 2025)
Machine Learning Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
• Large Enterprises
Machine Learning End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Advertising & Media
• Automotive & Transportation
Machine Learning Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa