Google Inc. (U.S.), Facebook (U.S), IBM Watson (U.S.), Baidu (China), Apple (U.S), Microsoft (U.S.), Cisco(U.S.), Wipro(India), and Nuance Communications(U.S.), Amazon (U.S), Intel (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Machine Learning market.
Global Machine Learning Market – Overview
According to a recent study report published by the Market Research Future, the global Market of Machine Learning is booming and expected to gain prominence over the forecast period. Globally, the market for Machine Learning has been rising up owing to the increasingly automated lifestyle. Hence, the global market of Machine Learning is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017– 2022).
The factors that promotes the growth of machine learning are its diverse application and its ability to learn and solve real life problems from data. The Machine Learning Market is gearing up with an accelerating pace from diagnosing disease to driving cars to stopping crimes. With the growth of digital marketing industry which represents exciting one in it arenas, where machine learning is applied.
Machine Learning is a part of Artificial Intelligence (AI) that grants computers the capability to learn without being detailed programmed. It mainly focuses on the advancement of the computers programs that can be switched when exposed to new data. It helps the computer to find the hidden insights without being explicitly programmed where to look. It has multiple uses in today’s technology market concerning with safety and security such as face detection, face recognition, Image classification, Speech recognition, antivirus, Google, antispam, genetic, signal diagnosing , whether forecast and many more.
On one side of Machine Learning are the raw data and on the other side the data models. Machine Learning enables data-driven decision systems to continuously learn from new data and adapt itself to deliver “reliable and repeatable” results. The newer technologies like Big Data and the Internet of Things have given a new leash to the traditional Machine Learning practices. The variety of applications that Machine Learning supports includes search engines, image recognition, speech analysis, filtering tools, and robotics. In the recent future, the global community will witness a tremendous growth of smart apps, digital assistants, and main-stream use of Artificial Intelligence. Machine Learning will proliferate the mobile market and enter the territories of drones and self-driving cars. More domain-specific and Machine Learning-enabled technologies will emerge this year.
Big Data is exploding in volume, velocity, and variety. Infrastructure requirements to process petabytes of data can overwhelm enterprise operating on a limited IT budget. To reach the global marketplace and capture, curate and analyze insights from millions of data sources in real-time, marketing teams need to apply Machine Learning at scale. Cloud based infrastructure and applications are essential to web scale data analytics and Machine Learning.
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Machine Learning Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Machine Learning appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. Vendors are focusing on improving their market performance and are expanding by acquiring promising companies in the fast-growing markets like India, China, Indonesia, Brazil, and South Africa. Marketers employ a continuous improvement strategy to analyze and update products, implementing improvements and launching new technologies to meet the changing needs of consumer. The market is expected to witness the entry of several new players who are technologically advanced and will capture a major portion of fast moving market of Machine Learning in the coming years.
Machine Learning Market – Segments
The Machine Learning Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Components: Comprises Software (data storage & archiving and modelling & processing.) Tools, Cloud, web-based APIs and others (model validator, decision report/predictor/training, and report storage.
Segmentation by Applications: Comprises BFSI, Healthcare, Government, Automotive, Education, Media and Entertainment, Defence, Telecom, Retail & Ecommerce and Others.
Segmentation by Organization Size: Comprises Small and Medium Enterprises (SMEs), large enterprises.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Global Machine Learning Market – Regional Analysis
The regional analysis of Machine Learning market is being studied for region such as Asia pacific, Americas, Europe and Rest of the World. Rapid advancements in computer programs across different industries has driven the market of Machine Learning in North America closely followed by Europe. European region is expected to dominate in the Machine Learning market by the forecast period owing to fast emerging of start-ups which mainly focus on innovation and commercialization of machine intelligence technologies. London is Europe’s start up centre, mixing capital, proximity to markets, and world-class research hubs. The Asia-Pacific region, though, is expected to emerge as a lucrative market.
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