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In 2022, the global market for machine learning was estimated to be worth USD 36.79 billion, and it is anticipated that the market size will expand at a compound annual growth rate (CAGR) of 35.8% from 2023 to 2030.
The term "artificial intelligence" (AI) refers to a developing technology that is altering the ways in which individuals and businesses function. The interaction between businesses and customers has been fundamentally altered as a direct result of the implementation of a number of digital goods and services, as well as the optimisation of supply chains. There are a number of technology companies that are investing in this sector in order to develop AI platforms; nevertheless, there are certain startups whose primary focus is on developing solutions for specific industries. Due to the rapid pace at which it is developing, one of the AI methodologies known as machine learning (ML) is gaining a significant amount of traction in the business.
Additionally, built-in AI processors, integrated memory systems, and integrated networking systems all contribute to an increase in the demand for market shares. The development of new technologies leads to an increase in the number of people using AI applications and machine learning; as a result, technological progress is the primary factor behind the expansion of the machine learning market.
The algorithms, methods, and frameworks that are a part of machine learning enable the worldwide market tackle complicated problems in a much shorter amount of time. In addition, the vast majority of businesses and sectors are making plans to come up with innovative concepts and methods in order to simplify the task. This results in the establishment of new machine learning manufacturing enterprises as well as the expansion of existing ones. A drop in the market is caused by a number of elements in addition to these growing important components that contribute to the decline. Nevertheless, the market is expected to acquire chances in the forecast periods, which will help it overcome these problems.
Over the past few years, the discipline of retail analytics has experienced remarkable expansion. By utilising more complex data analytics tools, a number of e-commerce companies, such as Alibaba, eBay, and Amazon, have been able to raise their sales and improve their customers' overall pleasure. As a result of research and development efforts in speech and voice recognition technologies, cognitive speech coding methodologies that are founded on the concepts of ML have arisen. As more businesses use more advanced security frameworks, it is expected that machine learning will emerge as a significant trend in the field of security analytics. Because vast amounts of data are created and transferred across a wide number of networks, it is extremely challenging for cybersecurity specialists to properly analyse and keep track of potential cyber threats. Machine learning algorithms are supporting security teams and organisations in anticipating, detecting, and recognising cyber-attacks more quickly. This is possible as a direct result of the proliferation and increasing complexity of these threats. These variables will result in an increase in the size of the market.
The expansion of the machine learning market on a global scale is expected to be driven by a number of different factors. During the time period covered by the forecast, the rising application of technology and automation will be the primary factors propelling market growth. In addition to the primary important driving factor, there are also several others. There is a demand for machine learning in many different industries, including education, the media and entertainment industry, automobiles, information technology and telecommunications, and various other government and non-government sectors. The global market for machine learning (ML) is expanding and becoming more competitive, but there are still some factors that slow down the market growth rate everywhere in the world. One of the most significant factors that is preventing the global market from expanding to its full potential is the dearth of workers who have both the necessary skills and years of relevant work experience. In addition, problems with network infrastructure, concerns about the safety of sensitive data, and ethical concerns over some aspects of the algorithms all act as barriers to the expansion of the machine learning business. Despite this, the worldwide market is planning to overcome these barriers to growth and expand in an effective manner.
During the COVID 19 incidents, businesses and organisations in virtually all areas made extensive use of remote work and work-from-home capabilities. It resulted in an increase in the utilisation of machines, smartphones, and other forms of technology. The use of machines that were created with AI systems is currently being conducted at educational institutions, as well as in government and non-government organisations. As a result, there was a strong demand for technology in conjunction with machine learning, and the machine learning market Forecast research predicts that this need will continue to rise in the foreseeable future. To the benefit of the worldwide market, organisations and other organisational sectors increased their investments in the development of A-based technologies. During the time period between now and 2030, these are the most significant market prospects associated with machine learning.
Report Coverage
Global Machine Learning research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Machine Learning report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Machine Learning competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Machine Learning market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Machine Learning market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Machine Learning market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Google (US), Microsoft Corporation. (US), Amazon.com, Inc. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Apple Inc (US), Intel Corporation (US), Facebook, Inc. (US), Baidu Inc (China), Nuance Communications (US), and Wipro Limited (India).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Machine Learning market based on the below-mentioned segments:
Global Machine Learning Market, By Components
Hardware
Software
Global Machine Learning market, By Verticals
Government and Defense
Automotive
Media and Entertainment
BFSI
Telecommunication
Retail and E-Commerce
Education
Healthcare
Life Science
Global Machine Learning Market, By End User
Large Enterprises
Small Enterprises
Medium Enterprises
Global Machine Learning market, Regional Analysis
The term "artificial intelligence" (AI) refers to a developing technology that is altering the ways in which individuals and businesses function. The interaction between businesses and customers has been fundamentally altered as a direct result of the implementation of a number of digital goods and services, as well as the optimisation of supply chains. There are a number of technology companies that are investing in this sector in order to develop AI platforms; nevertheless, there are certain startups whose primary focus is on developing solutions for specific industries. Due to the rapid pace at which it is developing, one of the AI methodologies known as machine learning (ML) is gaining a significant amount of traction in the business.
Additionally, built-in AI processors, integrated memory systems, and integrated networking systems all contribute to an increase in the demand for market shares. The development of new technologies leads to an increase in the number of people using AI applications and machine learning; as a result, technological progress is the primary factor behind the expansion of the machine learning market.
The algorithms, methods, and frameworks that are a part of machine learning enable the worldwide market tackle complicated problems in a much shorter amount of time. In addition, the vast majority of businesses and sectors are making plans to come up with innovative concepts and methods in order to simplify the task. This results in the establishment of new machine learning manufacturing enterprises as well as the expansion of existing ones. A drop in the market is caused by a number of elements in addition to these growing important components that contribute to the decline. Nevertheless, the market is expected to acquire chances in the forecast periods, which will help it overcome these problems.
Over the past few years, the discipline of retail analytics has experienced remarkable expansion. By utilising more complex data analytics tools, a number of e-commerce companies, such as Alibaba, eBay, and Amazon, have been able to raise their sales and improve their customers' overall pleasure. As a result of research and development efforts in speech and voice recognition technologies, cognitive speech coding methodologies that are founded on the concepts of ML have arisen. As more businesses use more advanced security frameworks, it is expected that machine learning will emerge as a significant trend in the field of security analytics. Because vast amounts of data are created and transferred across a wide number of networks, it is extremely challenging for cybersecurity specialists to properly analyse and keep track of potential cyber threats. Machine learning algorithms are supporting security teams and organisations in anticipating, detecting, and recognising cyber-attacks more quickly. This is possible as a direct result of the proliferation and increasing complexity of these threats. These variables will result in an increase in the size of the market.
The expansion of the machine learning market on a global scale is expected to be driven by a number of different factors. During the time period covered by the forecast, the rising application of technology and automation will be the primary factors propelling market growth. In addition to the primary important driving factor, there are also several others. There is a demand for machine learning in many different industries, including education, the media and entertainment industry, automobiles, information technology and telecommunications, and various other government and non-government sectors. The global market for machine learning (ML) is expanding and becoming more competitive, but there are still some factors that slow down the market growth rate everywhere in the world. One of the most significant factors that is preventing the global market from expanding to its full potential is the dearth of workers who have both the necessary skills and years of relevant work experience. In addition, problems with network infrastructure, concerns about the safety of sensitive data, and ethical concerns over some aspects of the algorithms all act as barriers to the expansion of the machine learning business. Despite this, the worldwide market is planning to overcome these barriers to growth and expand in an effective manner.
During the COVID 19 incidents, businesses and organisations in virtually all areas made extensive use of remote work and work-from-home capabilities. It resulted in an increase in the utilisation of machines, smartphones, and other forms of technology. The use of machines that were created with AI systems is currently being conducted at educational institutions, as well as in government and non-government organisations. As a result, there was a strong demand for technology in conjunction with machine learning, and the machine learning market Forecast research predicts that this need will continue to rise in the foreseeable future. To the benefit of the worldwide market, organisations and other organisational sectors increased their investments in the development of A-based technologies. During the time period between now and 2030, these are the most significant market prospects associated with machine learning.
Report Coverage
Global Machine Learning research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Machine Learning report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Machine Learning competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Machine Learning market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Google (US), Microsoft Corporation. (US), Amazon.com, Inc. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Apple Inc (US), Intel Corporation (US), Facebook, Inc. (US), Baidu Inc (China), Nuance Communications (US), and Wipro Limited (India). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Machine Learning Market from 2021 to 2030.
- Market Forecast for Machine Learning Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Machine Learning competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Machine Learning
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Machine Learning market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Machine Learning market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Google (US), Microsoft Corporation. (US), Amazon.com, Inc. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Apple Inc (US), Intel Corporation (US), Facebook, Inc. (US), Baidu Inc (China), Nuance Communications (US), and Wipro Limited (India).
Primary Target Market
- Market Players of Machine Learning
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Machine Learning market based on the below-mentioned segments:
Global Machine Learning Market, By Components
Hardware
Software
Global Machine Learning market, By Verticals
Government and Defense
Automotive
Media and Entertainment
BFSI
Telecommunication
Retail and E-Commerce
Education
Healthcare
Life Science
Global Machine Learning Market, By End User
Large Enterprises
Small Enterprises
Medium Enterprises
Global Machine Learning market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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