The global demand for Machine Learning (ML) Market is presumed to reach the market size of nearly USD 107.11 MN by 2028 from USD 7.91 MN in 2021 with a CAGR of 45.1% under the study period 2022 - 2028.
Machine learning (ML) allows the software to work more accurately at predicting outcomes without any human intervention. Companies are offering ML solutions on a subscription basis making it easier for users to leverage the benefits of this technology. Machine learning algorithms are based on the historical data as input to evaluate the accuracy of the new output. The primary objective of machine learning is to allow systems to work without any external intervention and manage their actions accordingly. The supervised machine learning algorithms, unsupervised machine learning algorithms, semi-supervised machine learning algorithms, and reinforcement machine learning algorithms are some of the methods used in the machine learning process.
Market Dynamics
Machine intelligence integration with analytics-driven solutions is a rapidly developing trend in the industry. The main factors escalating the machine learning market across the industry are the remarkable expenditures on AI and the introduction of self-driving automobiles. Machine learning reduces the time and workload required for performing the hard job and can process and evaluate data that was otherwise a big challenge using standard systems. The expeditiously growing need for advanced robotics in various industries such as automotive, electronics, healthcare, etc. has pushed the market growth to the next level. The limited availability of a workforce with analytics ability at the firms is a big issue that arises while incorporating machine learning in their business. Choosing the algorithm in machine learning is still a manual process as it demands running all the algorithms, and test the data, and then deciding which one to use.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of machine learning (ml). The growth and trends of machine learning (ml) industry provide a holistic approach to this study.
Market Segmentation
This section of the machine learning (ml) market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Component Type
- Software (Access Control, Security Intelligence, Big Data Governance, Cloud And Web-Based Application Programming Interface (APIs), Others)
- Services (Managed Services, Professional Services)
By Organization Size
- Small And Medium-Sized Enterprises
- Large Enterprises
By Application
- Fraud Detection & Risk Analytics
- Augmented & Virtual Reality
- Natural Language Processing
- Computer Vision
- Security & Surveillance
- Marketing & Advertisement
- Automated Network Management
- Predictive Maintenance
- Others
By End-Use
- Automotive
- Aerospace & Defense
- Retail & E-Commerce
- Government
- Healthcare & Life Sciences
- Media & Entertainment
- IT & Telecommunications
- BFSI
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Machine Learning (ML) market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Machine Learning (ML) Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the machine learning (ml) market include Oracle, IBM, Amazon Web Services Inc., Microsoft, Fractal Analytics Inc., Google, Baidu, Inc., Intel Corporation, Hewlett Packard Enterprise Development LP, and Dell Inc.This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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