Machine Learning Market expected to reach USD USD 33.4 billion by 2026, growing at a CAGR of 44.3% | Know the Companies List Could Potentially Benefit or Loose out From the Impact of COVID-19

The Global Machine Learning Market was valued at USD 1.7 billion in 2018 and is expected to reach USD 33.4 billion in 2026, growing at a CAGR of 44.3% by 2027.
The ripple effect of Coronavirus-COVID19 on the Machine Learning Market needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the Machine Learning Market. Key data sets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.

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Machine learning is a branch of artificial intelligence that can allow computers to learn without being programmed in detail. It is working on the advancement of computer programs that can be switched when exposed to new data.

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Market Segmentation:
Following Top Key players are profiled in this Market Study:
Amazon Web Services, Google, Inc, Microsoft, Hewlett Packard Enterprises, IBM Corporation, Intel Corporation, AT&T, Yottamine Analytics, BigML Inc, and Ersatz Labs are among others.

By End-use Industry: Healthcare and Life Sciences, Banking, Financial Services, And Insurance (BFSI), Retail, Telecommunication, Government and Defense, Manufacturing, Energy, Utilities

The managed service segment expected to grow at the fastest rate of 51% CAGR during the forecast period.
Based on service, the global machine learning market has been segmented into professional services and managed services. The managed services segment is expected to grow at the highest CAGR of around 51% during the forecast period. Due to it helps the various offices and organizations to increase efficiency and save costs for managing on-demand machine learning services. The increase in deployment of machine learning solutions and the complexity of operations further expected to grow the demand for managed services.

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Regional Analysis:
North America
Europe
Asia Pacific
LATAM
Middle East Africa

Region Analysis:
North America accounted for nearly 32% share of the global machine learning market in 2018 and is expected to dominate the market throughout the forecast period followed by Europe and Asia-Pacific. The most competitive and rapidly changing market along with strong economic growth in the North America region is one of the key factors driving the growth of machine learning in this region. Moreover, a high focus on innovations obtained from R&D and awareness for business productivity in key countries such as the US and Canada are also propelling the growth of machine learning in the North America region. Asia-Pacific accounted for the highest CAGR in the global machine learning market during the forecast period.

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