Machine Learning Market to 2025 - Global Analysis and Forecasts by Services (Human Resource, E-Commerce, Finance and Accounting, Customer Care. Sales & Marketing, and Others); and Vertical (BFSI, Telecom & IT, Healthcare, Automotive, Manufacturing, Food and Beverage, Power & Energy, Consumer Electronics, and Others)
Publication Month: Feb 2018 | Report Code: TIPTE100000804 | No. of Pages: 221 | Category: Technology, Media and Telecommunications | Status: Published
The machine learning market expected to grow from US$ 1,582.9 million in 2017 to US$ 39,986.7 million by 2025; it is estimated to grow at a CAGR of 49.7% from 2017 to 2025.
Availability of massive amount of data is attributing to the growth of the market. The availability of massive amount of data from different data sources is one of the key reasons, which has fueled the growth of machine learning technology. This huge increase in amount of data growing exponentially year-on-year has resulted due to the proliferation of sensors measuring great quantity of data at different parameters. Similarly, with the advancement of IoT, which enabled internet connectivity to a diverse range of devices with embedded technology to communicate and interact with the external environment, the connected devices are increasing exponentially. These connected devices communicates and continuously generating mammoth amount of data every second.
Also, with the advancement in the computing and storage technology, the computing power has increased multi-fold during the last decade. This has created new capabilities for managing and computing the big sets of data and when coupled with machine learning technology, has delivered best insights to the businesses.
Lucrative Regions in Machine Learning Market
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Market Insights–Machine Learning Market
Adoption of robotic process automation
Surging demand for machine learning is aligned with the progression in global market for Robotic Process Automation (RPA). This is majorly because, RPA along with other digital disruptors comprising of digital labor and advanced software automation is anticipated to significantly drive the new generation of Cloud based facilities that offer virtual workforce. Furthermore, the RPA-enabled machine learning are also expected to move the business services to labor elimination from large – scale and shared – scale labor reduction, accompanied by substantial cost reduction.
Solution-Based Insights
Based on solution, the machine learning market is segmented into software services. The software segment held the largest market share in 2016.
Strategic Insights
Players operating in the machine learning market are mainly focused on the development of advanced and efficient products.
- In 2017, Amazon Web Services launched a new AWS EU (Paris) Region. This enable users to run the applications and to store content in data centers available in France. AWS also have 49 Availability Zones throughout in its 18 technology infrastructure regions.
- In 2017, FICO alliance with UBS Card Center (Switzerland) to stop fraud with the help of AI and machine learning. The challenge was solved with the help of FICO Falcon Platform which is the leading card fraud solution by protecting 2.6 billion payment cards.
The machine learning market has been segmented as follows:
Machine Learning Market – by Solution
- Software
- Services
Machine Learning Market – by Deployment Type
- Cloud/MLaaS
- On-Premises
Machine Learning Market – by End-User
- BFSI
- Fraud & Risk Management
- Predictive Customer Analytics
- Algorithm Trading
- Others
- Retail
- Customer Experience & Insight
- Supply & Demand Planning
- Others
- Healthcare
- Diagnosis and Treatment Systems
- Image Analytics & Diagnosis
- Others
- Manufacturing
- Predictive Maintenance
- Supply Chain Management
- Government
- Fraud & Improper Payments
- Public Safety & Security
- Others
Machine Learning Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- U.K
- Asia Pacific (APAC)
- Japan
- China
- Australia
- India
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- South America (SAM)
- Brazil
Machine Learning Market – Company Profiles
- Amazon Web Services, Inc.
- BigML, Inc.
- Fair Isaac Corporation
- Google Inc.
- H2O.ai
- Hewlett Packard Enterprise
- IBM Corporation
- Microsoft Corporation
- SAP SE
- SAS Institute Inc.
The List of Companies - Machine Learning Market
1. Amazon Web Services, Inc.
2. Fair Isaac Corporation
3. Google, Inc.
4. Hewlett Packard Enterprise
5. IBM Corporation
6. Microsoft Corporation
7. SAP SE
8. BigML, Inc.
9. H2O.ai
10. SAS Institute Inc.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the machine learning market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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