Machine Learning Market Flourishing at 44.1% CAGR Dominated by North America

Machine Learning Market is growing at 44.1% CAGR and projected to grow from $1.41 billion in 2017 to $8.81 billion by 2022.

October 11, 2017 /MarketersMedia/ —

North American region is expected to have the largest market share during the forecast period. The major growth drivers for this region are the large-scale investments in implementing robotic services due to the growth in demand for processed data.

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The proliferation of large and multidimensional data sets, rising focus towards solving real-time problems from data along with rising demand for sophisticated algorithm platform and tool is driving the adoption of machine intelligence across the globe. Machine Learning Market by Vertical such as BFSI, Healthcare, and Life Sciences, Retail, Telecommunication, Government, and Defense, as well as focus on Deployment Mode, Service, Organization Size, and Region.

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The major machine learning vendors are Microsoft Corporation (Washington, US), IBM Corporation (New York, US), SAP SE (Wall Dorf, Germany), SAS Institute Inc. (North Carolina, US), Google, Inc. (California, US), Amazon Web Services Inc. (Washington, US), Baidu, Inc. (Beijing, China), Big ML, Inc. (Oregon, US), Fair Isaac Corporation (FICO) (California, US), Hewlett Packard Enterprise Development LP (HPE) (California, US), Intel Corporation (California, US), KNIME.com AG (Zurich, Switzerland), RapidMiner, Inc. (Massachusetts, US), Angoss Software Corporation (Toronto, Canada), H2O.ai (California, US), Alpine Data (California, US), Domino Data Lab, Inc. (California, US), Dataiku (Paris, France), Luminoso Technologies, Inc. (Massachusetts, US), Trademark Vision (Pennsylvania, US), Fractal Analytics Inc. (New Jersey, US), TIBCO Software Inc. (California, US), Teradata (Ohio, US), Dell Inc. (Texas, US), and Oracle Corporation (California, US).
The major issue in front of most of the organizations while incorporating machine learning in their business process is the lack of skilled employees including analytical talent, and the demand for those who can monitor analytical content is even greater. The Moreover, recently the region also witnessed the widespread adoption of cloud-based Artificial intelligence platform among large enterprises and SMEs across multiple verticals.
The service segment in the machine learning market includes professional and managed services. Majority of the companies do not have the expertise to successfully manage infrastructure, and hence, they outsource these services to third-party partners to maintain the level of security and safety. The growth of the professional services segment is mainly governed by the complexity of operations and increasing deployment of intelligence solutions.

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The organization size segment in the machine learning market includes Small and Medium-Sized Enterprises (SMEs) and large enterprises. Emergence in the demand for cloud computing, cloud storage, IoT connected devices, and excessive use of smartphones are some of the prime reasons why large enterprises have turned toward robotic for processing data. In large enterprises, this has a huge potential for the big data technology in allowing precise decision-making for superior performance.

Some major points from Table of Contents

4 Premium Insights
4.1 Attractive Market Opportunities in the Machine Learning Market
4.2 Machine Learning Market: Top 3 Verticals
4.3 Lifecycle Analysis, By Region, 2017–2022

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements
5.2.1.2 Proliferation in Data Generation
5.2.2 Restraints

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APAC is estimated to grow at the highest CAGR during the forecast period. Factors, such as continual growth in the mobile network, increasing the complexity of business, rise in demand for intelligent business processes, and exponential growth in data generation throughout the industry verticals are driving the machine learning market in the APAC region.

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