Machine Learning Market
Global Machine Learning Market was valued at USD 10.38 billion in 2021 and is expected to reach USD 112.18 billion by the year 2028, at a CAGR of 40.5%.
Machine learning (ML) is a type of artificial intelligence (AI) that allows software applications to become more accurate at predicting outcomes without being explicitly programmed to do so. Corporations are offering machine learning solutions on a subscription-based model, making it convenient for consumers to take benefit of this technology. In addition, it provides flexibility on a pay-as-you-use basis. Machine learning algorithms use historical data as input to predict new output values.
Machine intelligence integration with analytics-driven solutions is expected to be a developing industry trend. Significant expenditures in artificial intelligence and the introduction of self-driving automobiles. These factors are fueling the growth of the machine learning market across industries and geographies. Machine Learning is in charge of reducing workload and time. The algorithm performs the hard job by automating things. It can process and evaluate data that standard systems cannot. The most crucial component of every Machine Learning model is data. These factors are driving the market growth.
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The Major Players In The Machine Learning Market Include:
- Amazon Web Services Inc (US)
- Baidu Inc (China)
- BigML Inc (US)
- Fair Isaac Corporation (US)
- Google LLC (US)
- Hewlett Packard Enterprise Development LP (HPE) (US)
- IBM Corporation (US)
- Intel Corporation (US)
- Microsoft Corporation (US)
- SAP SE (Germany)
- SAS Institute Inc (US) and other major players.
Segmentation of Machine Learning market:
- Healthcare and Life Sciences
- Government and Defense
- Energy and Utilities
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Global Machine Learning Market: Regions Covered
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
The Machine Learning market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Machine Learning Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.
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The report’s main goal is to provide information on the Machine Learning market’s purchasing growth environment, development methods, and demand drivers. The report includes a taxonomy that delves further into significant groups. The research also includes important success elements and visionary insights on market dynamics, such as drivers, opportunities, trends, constraints, and price analysis. The demand patterns in several high-growth nations have been followed, with South Asia, East Asia, and Latin America accounting for the majority of the market share.
Reasons to Purchase this Market Report:
- Market forecast analysis through recent trends and SWOT analysis
- Machine Learning Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
- Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
- Machine Learning Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
- Competitive environment related to the Machine Learning market share for key players, along with new projects and strategies that players have adopted over the past five years
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