Top Factor Driving Machine Learning Market Growth in 2025: Cloud-Based Platforms Fueling Growth In The Machine Learning Market

How Are the key drivers contributing to the expansion of the machine learning market?
The expansion of the machine learning market is predicted to be fueled by the heightened use of cloud-based platforms. These platforms offer computing resources and services over the internet, eliminating the necessity for physical infrastructure or hardware, and enable users to utilize applications, storage and processing power. They also promote teamwork as numerous users can concurrently work on projects and integrate effortlessly with other cloud-based services. Case in point, Ofcom, a government agency in the UK, reported in October 2023 that the UK cloud infrastructure market was valued at approximately £7.0 billion ($ 7.69) to £7.5 billion ($ 8.23) in 2022. Also, by 2023, 41.4% of global tech and business chiefs aim to up their investments in cloud-based products and services. Thus, the accelerated adoption of cloud-based platforms is propelling the machine learning market's growth.

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What growth opportunities are expected to drive the machine learning market's CAGR through 2034?
The market size of machine learning has seen a steep rise in the past few years. It is projected to expand from $68.88 billion in 2024 to an impressive $94.35 billion by 2025, marking a compound annual growth rate (CAGR) of 37.0%. This robust growth during the historical period is a result of factors such as advancements in algorithms, increased data accessibility, improvements in computational power, widespread industrial acceptance and integration, and the incorporation of IoT and edge computing.

Over the next few years, the size of the machine learning market is predicted to experience significant growth, reaching an estimated value of $329.8 billion in 2029 and growing at a compound annual growth rate (CAGR) of 36.7%. This growth during the forecast period can be linked to factors such as the demand for explainability and ethical AI, the explosive growth of data, the expansion of edge computing, the increased integration of AI and ML, and the global demand for predictive analytics. Future trends within the forecast period involve continual advancements in algorithmic approaches, the emergence of big data technology, automated machine learning (AutoML), federated learning, the fusion of ML with other technological pursuits, and the creation of industry-specific ML solutions.

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What are the emerging trends shaping the future of the machine learning market?
Major players in the machine learning industry are emphasizing the development of automatic machine learning tools to make the process self-sustaining. The goal of these tools is to simplify model selection, training, and implementation, making machine learning more approachable for individuals and organizations who have limited knowledge in this sector. For example, in April 2023, AND Solutions Pte Ltd., a fintech company based in Singapore who provides automated machine learning platform solutions, introduced the NIKO AutoML platform. This is an enterprising machine-learning tool designed to accelerate the creation of predictive models. The platform permits users to swiftly and seamlessly develop and implement high-quality machine learning models without needing to code or have expertise in data science. Assisting users through each phase of the process is the platform's user interface, promising superior outcomes much quicker than traditional methods. The NIKO AutoML platform presents many notable advantages, such as rapid and precise model creation, efficient workflow, boosted productivity, and economic efficiency.

Which growth-oriented segments of the machine learning market are leading the industry's development?
The machine learning market covered in this report is segmented -

1) By Component Outlook: Hardware, Software
2) By Deployment: Cloud, On-Premises
3) By Type: Large Enterprises, Small And Medium Enterprise
4) By End-User: Healthcare, Retail, BFSI, Manufacturing, IT And Telecom, Energy And Utilities, Agriculture, Automotive, marketing And Advertising

Subsegments:
1) By Hardware: Graphics Processing Units (GPUs), Application-Specific Integrated Circuits (ASICs), Field Programmable Gate Arrays (FPGAs), Central Processing Units (CPUs), Memory And Storage Devices
2) By Software: Machine Learning Frameworks And Libraries, Data Processing And Analytics Tools, Model Development Platforms, Deployment And Integration Software, Pre-Built AI Solutions

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What regions are leading the charge in the machine learning market?
North America was the largest region in the machine learning market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the machine learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the machine learning market?
Major companies operating in the machine learning market report are Google Inc., Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Baidu Inc., Intel Corporation, SAS Institute Inc., Fair Isaac Corporation, Alteryx, Dataiku, H2o.AI, KNIME.com AG, Alpine Data, Peltarion, RapidMiner Inc., BigML Inc., Luminoso Technologies Inc., Turing Analytics

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What Is Covered In The Machine Learning Global Market Report?

•Market Size Forecast: Examine the machine learning market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the machine learning market for a structured understanding.
•Key Players Overview: Analyze major players in the machine learning market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the machine learning market.
•Segment Contributions: Evaluate how different segments drive overall growth in the machine learning market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the machine learning market.
•Industry Challenges: Identify potential risks and obstacles affecting the machine learning market.
•Competitive Landscape: Review strategic developments in the machine learning market, including expansions, agreements, and new product launches.

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