Deep Learning Market to be dominated by through 2027
Rising trend of digitalization and expanding IT
industry are driving the demand for global deep learning market through the
forecast period, 2023-2027.
According to TechSci Research
report, “Deep Learning Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global deep learning
market is anticipated to grow at a robust CAGR in the forecast period,
2023-2027. Generation of large amounts of data through industry verticals,
advancements in deep learning technology, and untapped potential in developing
countries are the primary factors driving the growth of the global deep
learning market for the forecast period.
Data learning is an
advanced technology that makes the use of statistics and predictive modeling to
collect, analyze and interpret large amounts of data. This technology is
commonly used for image recognition, voice recognition, autonomous vehicles as
it finds enormous applications in the manufacturing, retail, automotive,
healthcare, and security industry. Data learning technology automatically finds
the available data points that enhance the accuracy and efficiency of the
decision-making process. The other factors bolstering the global deep learning
market demand are the integration of cloud computing and big data analytics
technology coupled with investments for research and development activities to
develop improved hardware and software processing solutions.
However, the lack of
standards and regulations along with high hardware costs may restrain the
market growth in the forecast period.
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Deep Learning Market"
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The global deep
learning market is segmented into offering, application, end-user industry,
architecture, company, and regional distribution. Based on
offering, the market is divided into hardware, software, and services. The
hardware segment is leading the market in terms of value and is expected to
maintain its dominance throughout the forecast period, 2023-2027. Deep learning
technology requires a massive amount of computing power. Graphical processing
units are needed to handle large volumes of calculation in multiple cores and
have high memory processing capacity.
Based on
application, the market is divided into image recognition, signal recognition,
and data mining. Image recognition holds the largest share of the global deep
learning market. The surge in demand for digital image processing, code
recognition, facial recognition, pattern recognition, optical character
recognition bolsters the global deep learning market demand through 2027.
Based on the
end-user industry, the market is divided into healthcare, retail, automotive,
security, manufacturing, and others. The security end-user industry holds the
largest market share and is expected to dominate the market for the forecast
period. The rise in data security and privacy concerns fuel the need for
advanced cybersecurity solutions in organizations. The need to protect critical
information of enterprises and avoid chances of data loss is accelerating the adoption
of deep learning security solutions. Deep learning techniques are widely
employed for fraud detection systems, database management, and cybersecurity.
On the basis of
regional analysis, the North American region dominated the market in 2021 and
is expected to hold a substantial share of the global deep learning market
through the forecast period. The presence of well-developed IT infrastructure
and early adoption of advanced technologies by enterprises are the major
factors accelerating the demand for deep learning technology in the region.
Major market
players operating in the global deep learning market are:
·
Amazon
Web Services (AWS)
·
Google
Inc.
·
IBM
Corporation
·
Intel
Corporation
·
Micron
Technology
·
Microsoft
Corporation
·
Nvidia
Corporation
·
Qualcomm
·
Samsung
Electronics
·
Sensory
Inc.
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“Implementation of deep
learning technology in the healthcare sector and the ongoing digitization of
the healthcare industry is expected to create numerous growth opportunities for
the global deep learning market. Deep learning technology is used in image
recognition, drug processing, and precision medicine, producing faster and more
accurate results. Deep learning is preferred among healthcare research
professionals and stakeholders to highlight new disease patterns. It uses
predictive analysis and molecular modeling combinations to find insights and
cures for cancer. Innovations in deep learning technology to accurately predict
and monitor patient’s data is expected to open vast opportunities for the
healthcare sector through the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Deep Learning Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Offering
(Hardware, Software, and Services), By Application (Image Recognition, Signal
Recognition, and Data Mining), By End-User Industry (Healthcare, Retail, Automotive,
Security, Manufacturing, and Others), By Architecture (RNN, CNN, DBN, DSN, and
GRU), and By Region”, has evaluated the future
growth potential of global deep learning market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global deep learning market.
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