Machine Learning Market: Summary
The Global Machine Learning Market is projected to reach a value of over USD 108.7 Billion by 2027 at a CAGR of around 44.4%.
Machine Learning refers to an application of artificial intelligence (AI), which help to learn from data instead by explicit programming. Also, it focuses on the growth and development of computer programs to access the data as well can use it to learn from itself. Whereas, it enables the platform to train on data sets before it being deployed. These techniques is used to enhance the accuracy for the predictive model.
Hence, it also help to identify pattern and to make decisions with less human intervention which will lead to enhance the demand to the machine learning in the forecast period.
Machine Learning Market: Drivers & Challenges
- Rising Growth on Artificial Intelligence
With the rising growth on artificial intelligence is witness to boost the growth of the market in the forecast period. It helps to reduce the human error as well as improve the digital platform such as for the weather prediction using AI or using Chatbots for the customer queries. Whereas, the banks can also use AI cognitive automation to speed up the process for identification or verifying of the documents. As well as it plays a major role in healthcare sector, as it help to predict the disease such as cancer in the earlier stage by using the advanced AI based technologies.
Hence, it will help to boost the operational processes and for making an investment decisions which is a key factor to grow the demand of the market in various platform. Also, the government are making an investment in the Artificial Intelligence (AI) for the growth and development of financial as well as the government sector in the regions.
One of the major key concern of the machine learning market is the lack of security as well as shortage of skilled professionals which may hamper the market growth. Whereas, in some cases data sets which ML trained in account for more than 50% while learning algorithms and source codes is about 30 to 40%. As machine learning is mostly based on data for the learning purpose is a major concern of security for the business growth. Moreover, the machine learning are also connected through the internet for the operational process which lead to an opportunities for the attackers to exploit.
Hence, these will lead to create a major impact for the growth of machine learning machine market in the projected period.
Machine Learning Market: Key Segments
- Segmentation based on Component: Solution and Services.
- Segmentation based on Deployment Mode: Cloud and On-Premises.
- Segmentation based on Enterprise Size: Small And Medium-Sized Enterprises (SMEs) and Large Enterprises.
- Segmentation based on Application: Fraud and Risk Management, Sales and Marketing, Network Optimization, Revenue Estimation, Autonomous Defense System and Smart Grid Management.
- Segmentation based on End-User: BFSI, Retail, Government and Defense, Agriculture, Healthcare, Manufacturing, Telecommunications, Automotive & Transportation and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Machine Learning Market: Report Scope
The report on the machine learning market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Deployment Mode, Enterprise Size, Application, End-User, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- SAP SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- IBM Corporation
- SAS Institute Inc.
- Amazon Web Services, Inc.
- Google LLC
- BigML, Inc.
- Fair Isaac Corporation
- Hewlett Packard Enterprise Development LP
- Intel Corporation
- Other Key Companies
- Baidu, Inc.
- RapidMiner, Inc.
- TIBCO Software Inc.
- Fractal Analytics Inc.
Machine Learning Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Machine Learning Market, by Component
- Professional Services
- Managed Services
Machine Learning Market, by Deployment Mode
Machine Learning Market, by Enterprise Size
- Small And Medium-Sized Enterprises (SMEs)
- Large Enterprises
Machine Learning Market, by Application
- Fraud and Risk Management
- Sales and Marketing
- Network Optimization
- Revenue Estimation
- Autonomous Defense System
- Smart Grid Management
Machine Learning Market, by End-User
- Government and Defense
- Automotive & Transportation
Machine Learning Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Machine Learning Market Providers
- Machine Learning Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Machine Learning Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MACHINE LEARNING MARKET STUDY