The Global Machine Learning (ML) Market
Rising adoption of cloud-based services & ability to perform effectual output
Massive amounts of data can be reviewed by machine learning, which can identify trends and patterns that people would overlook. For instance, an e-commerce site like Amazon, knowing its customers' browsing patterns and past purchases, enables it to offer them the appropriate goods, discounts, and reminders. Furthermore,
The ability to perform operations without involving human involvement
Machine Learning allows the identification of failures and their mitigation, directly affecting the standard and advancement of the process. Making errors enables process improvement. In addition to the ability for mistake and failure prevention, ML has stock prediction algorithms. Models built from data can forecast when an error may happen, enabling for the preventative measures to stop it from happening. This will likely cause the market to grow throughout the projected period.
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Latest Trend of Self-Driving Vehicles and Multiple Handle Datasets
Companies are using this open-source artificial intelligence library to develop their machine-learning capabilities. For Instance, TensorFlow is library organizations use to build Java projects, data flow graphs, and various applications. APIs for Java are also present. For instance, Accenture Consultancy and professional services firms are using machine learning-based technologies with a market cap of USD 229 billion. Due to this market is expected to grow in the forecast period.
Many modern mobile devices can recognize autonomously when a user performs a certain activity, like cycling or running. Nowadays, novice machine learning engineers utilize a dataset that comprises fitness activity records for a few people that were acquired using mobile devices equipped with inertial sensors to practice with this sort of project. Furthermore, students are using categorization models that can precisely forecast future actions. Due to this, the adoption of machine learning in the datasets market is likely to increase in the forecast period.
ML is also being launched in the automotive sector. For instance, Tesla, an American multinational company, announced the launch of self-driving. Although they have generated controversy, self-driving cars constitute one of the most remarkable advancements launched in machine learning. This market is expected to grow with a high CAGR in the forecast period.
The machine-learning market has also expanded due to the integration of machine learning in
Lack of skilled employees
However, the main difficulty most organizations have when integrating machine learning into their business processes is a lack of qualified workers with analytical talent, and there is an even greater need for those who can keep an eye on analytical material.
Market Segmentation
Market player
Recent Developments
- The use of DNN models for the earlydiagnosis and identification of diabetes and cardiac risk is now being workedon by NITI Aayog in India. The FDA is also developing a legal framework forutilizing AI and machine intelligence in the healthcare sector.
- Nvidia provides high-end video gamegraphics best, but the company's gamble on AI and machine learning has begun topay off in recent years.
- The London-based firm Wayve raised USD200million in January 2022. As a result, enterprises will be better equipped totrain and build artificial intelligence capable of handling challenging drivingsituations.
- Accenture is a leading worldwideconsulting organization and technology authority that frequently assistsbusinesses in using technology to alter their operations. Machine learning isone of Accenture's various specialties.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018– 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Component Enterprises size Deployment End-user |
| Regional scope | North America; Asia-Pacific; Europe; South America; Middle East |
| Country scope | United States; Canada; Mexico; China; Indian; Japan; South Korea; Australia; Singapore; Malaysia; Germany; United Kingdom; France; Italy; Spain; Poland; Colombia; Brazil; Argentina; Peru; Chile; Africa, Saudi Arabia; South Africa; UAE; Iraq; Turkey |
| Key companies profiled | Amazon Web Services, Inc. Baidu, Inc, Domino Data Lab, Inc, Microsoft Corporation, Google, Inc, Alpine Data, IBM Corporation, SAP SE, Intel Corporation, SAS Institute Inc. |
| Customisation scope | 10% free report customisation with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customised purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
