Machine Learning 2019 Global Market to Reach US$ 12.3 Bn and Growing at CAGR of 22.4 % by 2026
WiseGuyReports.Com Publish a New Market Research Report On –“ Machine Learning 2019 Global Market to Reach US$ 12.3 Bn and Growing at CAGR of 22.4 % by 2026”.
Pune, India – September 9, 2019 /MarketersMedia/ —
Machine Learning Industry 2019
Description:-
Machine learning is an application of artificial intelligence that delivers a system the capacity to automatically learn and improve from experience without getting directly programmed. It focuses on the development of computer programs that can access data and utilize it to learn for themselves.
The method of learning begins with data or observations, such as direct experience, examples, or instruction, in order to look for patterns hidden in data and make better decisions in the future based on the examples. The main purpose is to enable the computers to learn automatically without human intervention or contribution and adjust actions accordingly.
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Key Players
Amazon
Apple
Ayasdi
Digital Reasoning
Darktrace
Dataiku
Facebook
Feedzai
Google
IBM Watson
Luminoso
N-iX
QBurst
Qualcomm
Skytree
Uber
Market Analysis
Global Machine learning Market contains a range of services, techniques, and solutions interconnected closely to artificial intelligence, which is conducting a statistical analysis of input data to understand its current and future relationship and performance.Machine learning makes use of a large amount of input data to provide better analytical output while enhancing workflow for various industry verticals.
The global machine learning market was valued at US$2.5 billion in the year 2017 and is predicted to reach US$12.3 billion by 2026, at a CAGR of about 22.4% during the forecast period.
The Machine learning market is at a notable pace. The market growth is influenced by many factors like growth in demand for enhanced application areas, advancement associated with cognitive computing and artificial intelligence market, the inadequacy of trained professionals, and the consequence of developing economies. All these factors are thoroughly creating opportunities for market growth.
Sales of Machine Learning is primarily influenced by numerous environmental and economic factors and the global economy is playing a crucial role in the growth of machine learning market.
Machine Learning Market is gaining a massive grip in terms of both research & development and implementation. ML is being employed by several market players for different use cases of business that requires real-time analytics with self-learning technology. The technology is believed to have huge potential in industries like Retail, BFSI, manufacturing, and retail.
Market Segmentation
Based on the component, the global machine learning market is segmented into-
• Software
• Service
Based on services, the global machine learning market is segmented into-
• Managed services
• Professional services
Based on the deployment model, the machine learning market can be classified into-
• On-demand cloud-based
• On-premises
Based on major verticals, the market can be segmented into-
• BFSI
• Retail and Manufacturing
• Healthcare and Life Sciences
• Government and Defense
• Telecommunication
• Energy and Utilities
• Others
Based on regions, the machine learning market can be segmented into-
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa
Facts to consider
As machine learning and artificial intelligence have become ubiquitous, we will soon be hard-pressed to find any enterprise not capitalizing on the advantages they can provide. Telecommunications is one of the fastest-prospering industries as well as one that uses machine learning and artificial intelligence in many aspects of their business from improving the customer experience to predictive maintenance to enhanced network reliability. The substantial telecoms in the world rely on machine learning and artificial intelligence in a number of ways like-
• Customer Service and Satisfaction
• Predictive Maintenance and Improve Network Optimization
• Robotic Process Automation (RPA)
• Fraud Detection
• Data-Driven Business Decisions: Predictive Analytics
This fact ensures that the machine learning technology is set to rule all the major verticals and is expected to have substantial growth in the future.
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