Press release
Reinforcement Learning Global Market Report 2024 - By Demand, Share, Size, Forecast, Outlook By 2033
Reinforcement Learning Market
The Business Research Company presents an extensive market research report on the Reinforcement Learning Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The reinforcement learning market size has grown exponentially in recent years. It will grow from $8.14 billion in 2023 to $10.49 billion in 2024 at a compound annual growth rate (CAGR) of 29.0%. The growth in the historic period can be attributed to increase in computing power, rise in data availability, industry-specific applications, open-source frameworks, and demonstrated success in real-world applications.
The reinforcement learning market size is expected to see exponential growth in the next few years. It will grow to $26.64 billion in 2028 at a compound annual growth rate (CAGR) of 28.5%. The growth in the forecast period can be attributed to continued algorithmic advances, growing demand for autonomous systems, integration with edge computing, expansion of reinforcement learning in healthcare, focus on explain ability and interpretability. Major trends in the forecast period include advancements in deep learning, transfer learning dominance, hybrid learning architectures, edge reinforcement learning, and explain ability and interpretability improvements.
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Key Market Players:
Major companies operating in the reinforcement learning market report are Google LLC, Microsoft Corp., Metadata Platforms Inc., Tencent Holdings Ltd., Amazon Web Services Inc., Intel Corp., International Business Machines Corporation, SAP SE, Nvidia Corp., Hewlett Packard Enterprise LP, ABB Ltd., Salesforce Inc., Cognizant Technology Solutions India Pvt. Ltd., Baidu Inc., Yandex LLC, SAS Institute, Sentient Technologies LLC, Unity Technologies Inc., TIBCO Software Inc., SenseTime Group Ltd., Zoox Inc., Open AI Inc., DeepMind Technologies Limited, Vicarious Surgical Inc., RapidMiner Inc.
Market Drivers:
The increase in industrial automation is expected to propel the growth of the reinforcement learning market going forward. Industrial automation refers to the use of advanced technologies, control systems, and machinery to automate industrial processes and operations. Reinforcement learning (RL) is increasingly being used in industrial automation due to its ability to learn optimal control policies from interaction with the environment without the need for explicit programming. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, there will be 23,000 industrial robots operating in UK factories in 2021, an increase of 6% from the previous year. Further, sales of new robots were up by 8% to 2,205 units in 2020. Therefore, the increase in industrial automation is driving the growth of the reinforcement learning market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/reinforcement-learning-global-market-report
The reinforcement learning market covered in this report is segmented -
1) By Deployment: On-Premises, Cloud-Based
2) By Enterprise Size: Large, Small And Medium Enterprises
3) By End-user: Healthcare, Banking Financial Services And Insurance (BFSI), Retail, Telecommunication, Government And Defense, Energy And Utilities, Manufacturing
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