The large enterprises sector is dominating the Machine Learning Market
The adoption of technological innovation and the
ability to handle massive amounts of data sets simultaneously propel market growth in the forecast period.
According to
TechSci Research report, “Global Machine Learning Market - By Region,
Competition Forecast & Opportunities, 2018-2028,” the Global Machine Learning Market
is
expected to register robust growth during the forecast period, 2023-2028. An emerging market trend is the integration of machine intelligence with
analytics-driven solutions. Moreover, large investments in artificial
intelligence and the development of self-driving cars is also boosting the
machine learning market's expansion across all sectors and regions.
The main aim of machine learning is to enable computers to
automatically learn without human assistance or intervention and adjust their
behavior in response. Algorithms for supervised machine learning, unsupervised
machine learning, semi-supervised machine learning, and reinforcement learning
are some techniques utilized in the machine learning process. Machine learning algorithms forecast new output values using
historical data as input. A typical use case for machine learning
is recommendation engines. Other typical applications include business process
automation (BPA), predictive maintenance, spam filtering, malware threat
detection, and fraud detection.
The variety of an algorithm in ML is still a manual procedure and
there is a need to run and test all the algorithms on data manually. Only then, and only after that, decision regarding which algorithm to
utilize is made. The main problem appears while training and testing using
data. The size of the data may make it challenging to eliminate mistakes.
Robotic automation procedures that leverage machine intelligence are
susceptible to fraud and unintended usage, which might stunt corporate
expansion.
The market in North America (NA) is anticipated to grow due to
significant expenditures and the availability of current IT infrastructure. The region's development has been expedited by a robust innovation
ecosystem supported by smart federal investments in cutting-edge technology,
visionary scientists and entrepreneurs from across the world, and well-known
research institutions.
Browse over XX market data Figures spread
through 70 Pages and an in-depth TOC on the "Global Machine Learning Market."
The Global Machine Learning Market is
segmented into components, enterprises size, deployment, and end-use. Based on end-use, market is allocated into healthcare, retailer, it & telecom,
automotive and transports, advertising & media, BFSI, government and
defense and others.
Based on components, the market is
segmented into Services & Solutions.
Based on enterprises' size, the market is divided into SMEs and large enterprises.
The large enterprise segment has been rising since Several
multinational corporations have made significant use of machine learning to
extract necessary information from large data sets and forecast the outcomes of
various situations.
Based on deployment, the market is divided into cloud and on-premises. The cloud-based
deployment type segment is expected to dominate the market in 2018-2028 with a
high CAGR. Adoption is driven by cloud-based software since it enables users to
switch from machine learning to deep learning. Flexibility, automated software
updates, disaster recovery through cloud-based backup systems, increased
collaboration, tracking document version control, and data loss prevention with
cloud storage facilities are factors propelling the market growth in the
future.
Based on end-use, market is allocated into healthcare, retailer, it & telecom,
automotive and transports, advertising & media, BFSI, government and
defense and others.
Key market players in the Global Machine
Learning Market: -
- Amazon Web Services
- Baidu, Inc
- Domino Data Lab, Inc
- Microsoft Corporation
- Google, Inc
- Alpine Data
- IBM Corporation
- SAP SE
- Intel Corporation
- SAS Institute Inc.
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"The factors behind the growth of the machine learning
market arerapid technological
modernization and large investments in artificial intelligence and the development of
self-driving cars. Nowadays, organizations are moving towards machine
learning (ML) technologies for efficient and effective output. The ability to perform
operations without involving human involvement drives the future market said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Machine Learning Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028. Segmented
By Component (Services & Solutions), By
Enterprises Size (SMEs and Large Enterprises), By Deployment (Cloud and
On-premises), By End-User (Healthcare, Retailer, IT & Telecom, Automotive
and Transports, Advertising & Media, BFSI, Government and Defense and
Others), By Region,” has
evaluated the future growth potential of Global Machine 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 the Global Machine Learning Market.
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