Emergence of cloud-based machine learning computing is anticipated to catalyze the adoptions of machine learning whose market is forecasted to grow at a CAGR of 49.7%
Published Date : 16/02/2018
According to a new market research study titled 'Machine Learning Market to 2025 - Global Analysis and Forecasts by Solution (Software and Services); Deployment Type (Cloud/ MLaaS and On-premise) and End-User (BFSI, Retail, Healthcare, Manufacturing, Government and Others)', the global machine learning market was valued at US$ 1.29 Bn in 2016 and is estimated to reach US$ 39.98 Bn by 2025. The report highlights the trends prevalent in the global machine learning market and the factors driving the market along with those that act as deterrents to its growth.
By the end of 2017, the cloud computing industry had achieved significant adoption across all the major industries worldwide. Owing to this trend the companies are anticipated to produce high quality service by adopting cloud-based machine learning services. The machine learning technology is quite expensive and complex to be built in-house by every enterprises. Not every mid-size or to some extent even the large enterprises may not require the full applications of machine learning technology. The specific use of machine learning to the specific use cases for each enterprises is considered as the best business model of machine learning technology. Hence, in coming years, the cloud adoption is further expected to gain high traction and expected to become the priority for each type of enterprises. This impact of cloud-based machine learning services would result with generating multiple opportunities for the competition.
In our study, we have segmented the Machine Learning market by solution, deployment type, and end-user. The market for Machine Learning has been segmented on the basis of solution into software and services. Machine learning deployment falls majorly under these two categories namely Cloud or Machine Learning as a Service and On-Premise. The market for machine learning has been segmented accordingly for deployment type.
Furthermore, machine learning market has been segmented into end-users as BFSI, Retail, Healthcare, Manufacturing, Government and Others. Each end-user segment is further segmented into their respective machine learning applications. Under BFSI, the machine learning applications include Fraud & Risk Management, Predictive Customer Analytics, Algorithm Trading, and Others. Under the retail sector, the applications include Customer experience & insight, supply & demand planning, and Others. Also, Diagnosis and Treatment Systems, Image Analytics & Diagnosis and Others are application covered under Healthcare sector. Predictive Maintenance and Supply Chain Management applications are included under manufacturing sector. Government Sector includes the machine learning applications such as Fraud & Improper Payments and Public Safety & Security. On the basis of geography, the Machine Learning market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The key players profiled in the report are Google, Inc., Microsoft Corporation, IBM Corporation, SAS Institute Inc., and Amazon Web Services, Inc. Also, Fair Isaac Corporation, Hewlett Packard Inc., SAP SE, BigML, Inc. and H2O.ai are other key companies in the Machine Learning market.
The report segments the global Machine Learning market as follows:
Global Machine Learning Market - By Solution
Global Machine Learning Market - By Deployment Type
Global Machine Learning Market - By End-User
Fraud & Risk Management
Predictive Customer Analytics
Customer Experience & Insight
Supply & Demand Planning
Diagnosis and Treatment Systems
Image Analytics & Diagnosis
Supply Chain Management
Fraud & Improper Payments
Public Safety & Security
Global Machine Learning Market - By Geography
Rest of Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)