A new report has recently been published by Persistence Market Research to present a comprehensive analysis of the global deep learning market. Titled ‘Deep Learning Market: Global Industry Analysis (2012 – 2016) & Forecast (2017 – 2027),’ this report is an in-depth study of the concept of deep learning and the performance of the global market for deep learning across key end use industry sectors across seven key geographies. The report carefully analyzes the different factors responsible for impacting market revenue growth over a 10 year assessment period from 2017 to 2027 and presents insights on the market growth and performance to investors and other key market stakeholders.
Global Deep Learning Market: Revenue Forecast & Market Dynamics Analysis
According to Persistence Market Research forecasts, the global deep learning market is estimated to be valued at US$ 4,841.2 Mn by the end of 2017 and this is projected to increase to a whopping US$ 261,113.0 Mn by the end of the forecast period in 2027. This denotes an exponential compound annual growth rate of 49.0% recorded during the period of forecast. This growth can be attributed to a need for better processing hardware, increase in research and development activities in some markets around the globe, and rapid adoption of cloud based technologies across the globe.
However, deep learning requires high performance hardware that is not easily available. Cost is another limiting factor. Also, several enterprises prefer the traditional route over hyperparameter optimization. These factors are expected to restrict revenue growth of the deep learning market in the coming decade. Utilization of deep learning technology in smartphones and medical image analysis for diagnosis of chronic diseases such as cancer; and in virtual patient assistance is trending the global deep learning market.
The global deep learning market is segmented on the basis of end use industry into Manufacturing, Healthcare, Media & Entertainment, Security, Finance, and Others. Finance is the largest segment, expected to hold more than 40% value share of the global deep learning market by 2027. Finance is also expected to be the fastest growing end use industry segment, with a CAGR of 60.1% during the forecast period. In terms of value, the Finance segment is projected to be the most attractive in the global deep learning market during the period of study.
Seven regional markets are assessed in this report on the global deep learning market. These key geographies are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and the Middle East and Africa. North America is the leading regional market for deep learning, expected to hold 42.4% share of the global market by 2027 end. APEJ is the second largest regional market, with an estimated value share of just under 26% by the end of the forecast period in 2027. In terms of value, North America is projected to be the most attractive region in the global deep learning market during the period of study.
The report profiles some of the top companies in the global deep learning market such as Google Inc., Microsoft Corp., IBM Corporation, Facebook Inc., Qualcomm Technologies, Inc., NVIDIA Corp., Amazon.com, Inc., Intel Corporation, Clarifai, Inc., and Deep Instinct Ltd. Key players are looking to adopt a strategy of moving to different sectors with their products from the deep learning algorithm to enhance revenue share in the global market. Companies in the global deep learning market are also focusing on improving their artificial intelligence capabilities and the deep learning service portfolio across multiple industry sectors like electronics retail.
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