Deep learning market is anticipated to reach around USD $ 21.1 billion by 2027 – Credence Research

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Deep learning market is anticipated to reach around USD $ 21.1 billion by 2027 – Credence Research

December 01
15:52 2021
Deep learning market is anticipated to reach around USD $ 21.1 billion by 2027 - Credence Research
Deep learning had a market value of $ 2.7 billion in 2020, and it is expected to reach $ 21.1 billion by 2027. The market is expected to grow at a CAGR of 34.5% over the forecast period.

The market for deep learning is expected to grow from US$ 2.7 billion in 2021 to US$ 21.1 billion by 2027 with a CAGR of over 34.5% during the forecast period from 2021 to 2027.

Global Deep Learning Market, 2020 – 2027 (USD Million)

Cloud-based services, artificial intelligence, and rising unstructured data are expected to drive deep learning market growth over the forecast period. The use of cloud-based services improves scalability and security. On June 12, 2019, Akamai Technologies, announced a Cloud Edge platform designed to securely deliver data to connected devices. In addition, Cisco Inc. paid approximately US$ 1,000 million for Thousand Eyes, Inc., a network intelligence company based in the United States, to provide network security in May 2020. Google Inc., Microsoft Corp., and Inc. have all made significant investments in AI, machine learning, and deep learning research. In May 2019, Microsoft, for example, invested $1 billion in Open AI, a U.S.-based artificial intelligence research centre, to develop artificial intelligence technology for its Azure cloud platform. Furthermore, cloud platforms such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud have begun to offer machine learning and deep learning-based services, facilitating the development of deep learning models. In May 2019, Microsoft, for example, introduced new machine learning services for the development of models that aid algorithms and provide more accurate results. However, a lack of technical expertise is expected to stifle market growth for the duration of the forecast period.

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Security held dominant position in the global deep learning market.

Among the numerous end-user sectors examined in this study, security had the highest share of deep learning, followed by marketing. Deep learning in security is gaining popularity as a result of the rapidly changing cybersecurity landscape, as new types of cyberattacks are constantly being discovered, and organisations must stay on top of these threats to protect their most valuable assets. Deep learning in security solutions helps businesses protect sensitive data while reducing data loss. It is also gaining traction in the field of marketing, specifically in the media and advertising industries. Deep learning applications such as search advertising, social media advertising, and sales and marketing automation are propelling the industry forward.

North America held dominant position in the global deep learning market.

North America led the global deep learning market in 2020 and is expected to continue to do so in the future. Increased investments in artificial intelligence and neural networks are the key growth factors of the region. During the forecast period, the widespread use of image recognition and voice recognition in this region is expected to provide profitable development opportunities. As advanced technologies become more widely used, businesses are being forced to incorporate deep learning solutions. Intel Corporation, for example, will add an artificial intelligence (AI) and analytics platform to its hardware and software portfolio in June 2020. AI and analytics create new opportunities in industries such as healthcare, telecommunications, banking, and transportation.

Global Deep Learning Market key Players:

Nvidia Corporation, Microsoft Corporation, Micron Technology, Inc., International Business Machines Corporation, Intel Corporation, Google LLC, Amazon Web Services, Inc., Xilinx, Inc., Skymind Inc., Sensory Inc., Samsung Electronics and Qualcomm are among the notable companies. May 2020 – IBM announced that it will use AI technology to automate IT operations management and application modernization, also known as AIOps. It tracks the history of a problem by using machine and deep learning algorithms on time series data, semi-structured logs, structured data, and unstructured data spanning IT events and human discussions.

Market Segmentation

Global Deep Learning Market by Component, 2015 – 2027

  • Hardware
  • Software
  • Services

Global Deep Learning Market by Application, 2015 – 2027

  • Image Recognition
  • Signal Recognition
  • Data Mining
  • Others

Global Deep Learning Market by End-user, 2015 – 2027

  • Healthcare
  • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Security
  • Human Resources
  • Marketing
  • Law
  • Fintech
  • Others

Global Deep Learning Market by Company

  • Amazon Web Services (AWS)
  • Google
  • IBM
  • Intel
  • Micron Technology
  • Microsoft
  • Nvidia
  • Qualcomm
  • Samsung Electronics
  • Sensory Inc.
  • Skymind
  • Xilinx

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