Machine Learning Market is expected to reach USD 206,235.41 million by 2029 : Cognitive Market Research

As per Cognitive Market Research analysis, the Machine Learning Market size is projected to grow from USD 24,345.76 million in the year 2021 to USD 206,235.41 million by 2029 at a CAGR of 42.64% from 2022-2029.

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ML (Machine learning) is a branch of AI (artificial intelligence) which enables machines to learn directly from data, experience, and others. By allowing computers to perform specific tasks intelligently, machine learning allows computers to perform complex processes by learning from examples or data, rather than lower pre-programmed rules. The increasing volume of data being generated across industry verticals has created an exhaustive repository for machine learning, further supported by rapid advances in computer processing power, which in turn enhances analytical systems. The integration of machine learning and robotics is driving the growth of the machine learning market. The rapid development of the robotics industry has created various innovations in robotics through the integration of sensor technology and materials. Advances in machine learning have increased the capabilities of RO applications such as drones and autonomous vehicles. Moreover, rising demand for advanced robotic systems across various verticals such as automotive, electronics, food & beverage, and healthcare is driving the market growth.

Regional Analysis of Machine Learning Market:
• North America is estimated to be the largest revenue-generating region. This is largely due to the high emphasis placed on innovation derived from R&D in advanced economies such as the US and Canada. These regions host some of the most competitive and rapidly changing global markets in the world. Asia Pacific is expected to be the fastest growing region in the market. Rising awareness of enterprise productivity coupled with well-designed machine learning solutions from vendors in APAC makes APAC a market with great potential.

Top players involved in the Machine Learning Market:
• Amazon Web Services, Inc.
• Domino Data Lab, Inc.
• Microsoft Corporation
• Luminoso Technologies, Inc.
• SAP SE
• Hewlett Packard Enterprise Development LP
• Intel Corporation
• IBM Corporation
• SAS Institute Inc.
• Google, Inc.

Current Trends of Manufacturers:
• January 2022 - Acquia introduces advanced retail machine learning models to its customer data platform to increase customer lifetime value. With this launch, the company aims to help retailers gain a holistic view of their business. Sales effort.

Segment Analysis:
• Based On Component, software and services are the segments of the global machine learning market. Software segment is expected to register highest revenue share in the global machine learning market.

• Based On Deployment Model, the market is segmented into cloud-based and on-premise. The cloud-based segment is expected to register highest growth of the global market in terms of revenue.

• Based On Services, the market is segmented into managed service and professional services. The professional services segment is expected to register highest share in the global market, due to increasing deployment of machine learning solution.

• Based On Organization Size, the global machine learning market is segmented into large enterprise and small and medium-sized Enterprises. Large enterprises segment accounted for the largest revenue share where as small and medium-sized enterprises segment is expected to register a steady revenue growth rate during the forecast period.

• Based On Application, the market is segmented into Marketing & Advertising, Fraud Detection & Risk Management, Computer vision, Security & Surveillance, Predictive analytics, Natural Language Processing, Augmented & Virtual Reality and Others.

• Based On End-Use Industry, the global machine learning market is segmented into BFSI, Media and Entertainment, Automotive, Telecommunication, Retail and E-commerce, Education, Healthcare, Government and Defense and others. Automotive segment accounted for the largest revenue share in the global machine learning market

Related Report:
• Machine Learning as A Service Market - https://www.cognitivemarketresearch.com/machine-learning-as-a-service-market-report
• Risk Analytics Market - https://www.cognitivemarketresearch.com/Risk-Analytics-market-report
• Emotion Detection and Recognition Market - https://www.cognitivemarketresearch.com/Emotion-Detection-and-Recognition-market-report
• Predictive Analytics Market - https://www.cognitivemarketresearch.com/Predictive-Analytics-market-report

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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