Growing Cloud-Based Solutions Boost Machine Learning Development: Key Factor Driving The Growth In The Machine Learning Development Market

Our market reports now include the latest updates on global tariffs, trade impacts, and evolving supply chain dynamics.

What Is the Expected Machine Learning Development Market Size During the Forecast Period?
The market size of machine learning development has seen a remarkable expansion in the past few years. It is projected to escalate from $52.23 billion in 2024 to a whopping $74.16 billion in 2025, with a compound annual growth rate (CAGR) of 42.0%. Factors contributing to this historic period growth include acceleration of diagnostic processes, improved accuracy of machine learning, a surge in demand for machine learning services, rising data volumes, and increased internet reach.

In the coming years, the market size of machine learning development is set to witness a remarkable upswing. It is projected to escalate to $298.06 billion in 2029 with a compound annual growth rate (CAGR) of 41.6%.Several factors are contributing to growth during this forecasted period, including the evolution of infrastructure support, a surge in automation demand, an increase in data volume, a growing request for cloud-based solutions, heightened demands for customized solutions, and heightened consciousness about the advantages of machine learning. The forecast period is characterized by significant trends such as technological progression, advances in artificial intelligence (AI) technologies, the emergence of no-code and low-code technologies, basis models and multimodal learning, as well as automated machine learning (AutoML).

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20865

What Are the High-Growth Segments in the Machine Learning Development Market?
The machine learning development market covered in this report is segmented -

1) By Deployment Mode: On-Premises; Cloud-Based
2) By Application: Predictive Maintenance; Fraud Detection and Prevention; Customer Segmentation; Image and Speech Recognition; Other Applications
3) By End-User: Healthcare; Finance; Retail; Manufacturing; Information Technology And Telecom; Other End-Users

Subsegments:
1) By On-Premises: On-Premises Machine Learning Development Platforms; On-Premises Data Storage for Machine Learning; On-Premises Machine Learning Model Training; On-Premises AI/ML Development Tools; On-Premises Machine Learning Frameworks
2) By Cloud-Based: Cloud-Based Machine Learning Development Platforms; Cloud-Based Data Storage and Processing for Machine Learning; Cloud-Based Model Training and Deployment; Cloud-Based AI/ML Development Services; Cloud-Based Machine Learning Frameworks and Libraries
3) By Managed Cloud ML Solutions

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20865&type=smp

What Key Drivers Are Expected to Influence Future Machine Learning Development Market Growth?
The surge in demand for solutions based on the cloud is projected to fuel the expansion of the market for machine learning development. Services, applications, and resources that are hosted and delivered via the Internet, rather than from local servers or personal devices, comprise cloud-based solutions. Greater security and compliance, remote access to applications, a robust and resilient infrastructure, and prioritized security are all contributing to the rise in use of cloud-based solutions. Machine learning provides a boost to such solutions by facilitating smarter data analysis, automation, and personalized user experiences. It enables the delivery of scalable, real-time insights and can refine the allocation of resources, ultimately enhancing efficiency and decision-making processes. For instance, as per Eurostat, an official website based in Luxembourg of the European Union, there was a 4.2% rise in cloud-based solutions uptake throughout 2023, with 45.2% of businesses harnessing cloud computing services - marking a notable increase from 2021 figures. Consequently, the escalating demand for cloud-based solutions is pushing up the growth metrics of the machine-learning development market.

Which Companies Hold the Largest Share Across Different Machine Learning Development Market Segments?
Major companies operating in the machine learning development market are Alphabet Inc., Microsoft Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Tencent Holdings Ltd., Amazon Web Services (AWS) Inc., Intel Corporation, Siemens AG, General Electric (GE), International Business Machines (IBM) Corporation, Schneider Electric SE, Honeywell International Inc., NVIDIA Corporation, Rockwell Automation, Fanuc, Dassault Systemes SA, Hexagon AB, Autodesk Inc., PTC Inc., Emerson Electric Co., Yokogawa Electric Corporation

What Trends Are Driving Growth in The Acute Hospital Care Market?
Major players in the machine learning development market are concentrating on creating innovative technology such as Integrated Development Environment (IDE) to increase the effectiveness and scalability of their machine learning procedures. The IDE supplies tools and features that are customised to meet the needs of data scientists and machine learning engineers, and supports the total machine learning workflow ranging from data pre-processing to model coaching and evaluation. For instance, Microchip Technology Inc., a US-based semiconductor company, launched a Machine Learning Development Suite known as MPLAB in September 2023. This suite offers a comprehensive and simplified workflow for ML model development, enabling engineers to swiftly incorporate ML inference capabilities into their products. This is particularly advantageous for embedded systems where efficiency, security and power consumption are key factors.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/machine-learning-development-global-market-report

What Are the Emerging Geographies for The Machine Learning Development Market Growth?
North America was the largest region in the machine learning development market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine learning development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Machine Learning Development Market?
2. What is the CAGR expected in the Machine Learning Development Market?
3. What Are the Key Innovations Transforming the Machine Learning Development Industry?
4. Which Region Is Leading the Machine Learning Development Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.