What is the global market size of Machine Learning Market?

Machine Learning Market size was valued at USD 6.91 billion in 2021 and is poised to grow from USD 9.95 billion in 2022 to USD 183.21 billion by 2030, growing at a CAGR of 44.1% in the forecast period (2023-2030).

Who are the key vendors in the Global Machine Learning Market?

The Global Machine learning market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'IBM', 'Amazon Web Services (AWS)', 'Microsoft Corporation', 'Google LLC', 'SAS Institute Inc.', 'Intel Corporation', 'Alphabet Inc.', 'General Electric', 'SAP SE', 'H2O.ai', 'Freenome Holdings Inc.', 'Baidu Inc.', 'Ayasdi Inc.', 'Salesforce.com Inc.', 'DataRobot Inc.', 'Big Panda Inc.', 'Teradata Corporation', 'Domino Data Lab Inc.', 'Cloudera Inc.', 'RapidMiner Inc.'.

What is the key driver of Global Machine Learning Market?

Machine learning technology is already helping in a number of healthcare-related situations. This technology is used in the healthcare industry to evaluate millions of different data points, forecast outcomes, provide quick risk assessments, and allocate resources precisely, among many other things. For instance, today IBM Watson Health and Healthcare IT Leaders announced the combination of IBM Digital Health Pass and Healthcare IT Leaders Healthy Returns, a full set of corporate COVID-19 services.

What is the key market trend for Global Machine Learning Market?

Machine learning will become a significant trend in security analytics as businesses use more sophisticated security frameworks. Cyber specialists struggle greatly to detect and analyze prospective cyber threats and attacks since there is so much data being produced and transmitted across many networks. As cyber risks become more pervasive and sophisticated, machine learning algorithms also help enterprises and security teams anticipate, detect, and recognize cyber-attacks more swiftly. Due to this, integrating advanced learning capabilities into analytics-driven solutions is unquestionably growing in importance.

Which region accounted for the largest share in Global Machine Learning Market?

In 2021, North America held the largest share in the global machine learning market. The market growth in the region is attributed to the presence of significant R&D investors like IBM Corporation, Amazon.com, and Oracle Corporation. Additionally, significant expenditures and the availability of a well-established IT infrastructure are anticipated to fuel market expansion in North America. For instance, the United States Defense Advanced Research Projects Agency (DARPA) committed USD 2 billion to the advancement of AI technology.

Machine Learning Companies

Machine Learning Market Competitive Landscape

Top Players in the Machine Learning Market

Microsoft Corporation (US)
IBM Corporation (US)
SAP SE (Germany)
SAS Institute Inc. (US)
Google, Inc. (US)
Amazon Web Services Inc. (US)
Baidu, Inc. (China)
BigML, Inc. (US)
Fair Isaac Corporation (FICO) (US)
Hewlett Packard Enterprise Development LP (HPE) (US)
Intel Corporation (US)
KNIME.com AG (Switzerland)
RapidMiner, Inc. (US)

Machine Learning Market

FAQs

Global Machine Learning Market size was valued at USD 35.80 Billion in 2022 poised to grow from USD 48.04 Billion in 2023 to USD 505.42 Billion by 2031, growing at a CAGR of 34.20% in the forecast period (2024-2031).

The global machine learning market is a highly competitive global market driven by a large number of international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment. 'Microsoft Corporation (US) ', 'IBM Corporation (US) ', 'SAP SE (Germany) ', 'SAS Institute Inc. (US) ', 'Google, Inc. (US) ', 'Amazon Web Services Inc. (US) ', 'Baidu, Inc. (China) ', 'BigML, Inc. (US) ', 'Fair Isaac Corporation (FICO) (US) ', 'Hewlett Packard Enterprise Development LP (HPE) (US) ', 'Intel Corporation (US) ', 'KNIME.com AG (Switzerland) ', 'RapidMiner, Inc. (US) '

The need for machine learning is fuelled by the explosion of data coming from a variety of sources, such as social media, IoT devices, and commercial activities. Large datasets must be processed, and insightful conclusions must be drawn from them, which requires advanced analytics and algorithms. As more businesses look to use data to gain a competitive edge, the market will rise.

Expanding Influence of Machine Learning Across Industries: The market for machine learning has seen notable trends and advancements that are indicative of how quickly this game-changing technology is developing. One noteworthy trend is the growing use of machine learning across various industries. Businesses are attempting to make decisions based on data-driven understanding. Machine learning tools are being added more often.

North America is the leader in the global machine learning market due to its advanced technological infrastructure, large R&D expenditures, and concentration of cutting-edge startups and IT businesses. The region is well-served by a workforce proficient in AI and machine learning technology, substantial venture capital funding, and sophisticated data analytics capabilities. Further contributing to its supremacy is North America's early adoption of AI solutions across a range of industries, including retail, healthcare, and finance. North America is a key player in the machine learning scene due to government initiatives, a welcoming regulatory framework, and support for innovation and commercial expansion.

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Machine Learning Market Size, Share, Growth Analysis, By Vertical(BFSI, Healthcare and Life Sciences, Retail, Telecommunication), By Service(Professional Services and Managed Services), By Deployment Model(Cloud and On-premises), By Region - Industry Forecast 2024-2031

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Machine Learning Market Size, Share, Growth Analysis, By Vertical(BFSI, Healthcare and Life Sciences, Retail, Telecommunication), By Service(Professional Services and Managed Services), By Deployment Model(Cloud and On-premises), By Region - Industry Forecast 2024-2031

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What is the global market size of Machine Learning Market?

Who are the key vendors in the Machine Learning Market?

What is the key driver of Machine Learning Market?

What is the key market trend for Machine Learning Market?

Which region accounted for the largest share in Machine Learning Market?

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