Machine Learning And Automation Market Size, Share | Industry Report 2024

Global Machine Learning & Automation market is around USD 1.2 Billion in 2015 and expected to grow at CAGR of 45% from 2016 to 2024.

The fundamental concept of Machine Learning is that analytical solutions could be built by carefully studying the data models from the past and eventually by studying the data models, trends, patterns, builds automated algorithmic systems. Machine learning has the capability of handling large data volumes; therefore, accelerating end-user access to the insights. With the new levels of cognitive computing, businesses will be in a position to see improved productivity and streamlined operations. Mundane tasks can be easily automated so that resources allocation can be to the innovative part of the businesses. Cognitive computing is another term that can be used to describe machine learning, which has the potential to recognize patterns and learn new material — without being explicitly programmed by a human.

Machine learning as a market is yet to be fully understood and its potential is yet to be proven. Nevertheless, there is a continued awareness about the power of machine learning which would drive the market and eventually business ROI.

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Key findings from the study: -
• Global Machine Learning and Automation market is around USD 1.2 Billion in 2015 and expected to grow at CAGR of 45% from 2016 to 2024
• Challenges are evident; however, Machine Learning is a technology that has the potential solution for demand forecasting
• Due to the inherent nature of the financial markets, where high volume, accurate historical records, and quantitative nature are abundantly available, it makes a perfect candidate for artificial intelligence.

Ameri Research has segmented the Machine Learning And Automation Market by material categories, product type, end-use and region:
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