Cloud-Based Platforms Fueling Growth In The Machine Learning Market Driving Market Acceleration in the Machine Learning Industry, 2025

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How Large Will the Machine Learning Market Size By 2025?
The size of the machine learning market has seen substantial expansion in the past few years. It is projected to increase from $68.88 billion in 2024, reaching $94.35 billion by 2025, with a compound annual growth rate (CAGR) of 37.0%. This upward trend during the historic period is a result of improvements in algorithms, more readily available data, enhancement of computing power, wide-ranging industry adoption and integration, and the incorporation of IoT and edge computing.

How Big Is the Machine Learning Market Size Expected to Grow by 2029?
In the upcoming years, the market size for machine learning is anticipated to witness a skyrocketing elevation. The predicted growth is around $329.8 billion in 2029, with an expected compound annual growth rate (CAGR) standing at 36.7%. Factors contributing to the growth for the stipulated period can be credited to issues related to explainability and ethical artificial intelligence, the rapid growth of data, the spread of edge computing, increasing confluence of artificial intelligence and machine learning, and a universal demand for predictive analytics. Further trends that will mark this forecast period encompasses continuous advancements in algorithms, the emergence of big data technology, automated machine learning (AutoML), federated learning, incorporation of machine learning with multiple other technologies, and machine learning solutions tailored to specific industries.

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Which Key Market Drivers Powering Machine Learning Market Expansion and Growth?
The machine learning market is primed for growth due to the rising use of cloud-based platforms. These platforms provide computing services and resources over the internet, allowing users to access and use applications, storage, and processing power without needing physical infrastructure or hardware. Multi-user collaboration on projects is also made possible through cloud-based machine learning platforms, as well as easy integration with other cloud services. As an example, Ofcom, a UK-based Government office, reported in October 2023 that the UK's cloud infrastructure market value ranged between approximately £7.0 billion ($ 7.69) and £7.5 billion ($ 8.23) in 2022. Furthermore, in 2023, 41.4% of global tech and business leaders aim to up their investment in cloud-based services and products. Consequentially, the increasing usage of cloud-based platforms is a significant driver of the machine learning market's expansion.

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Which Fast-Growing Trends Are Poised to Disrupt the Machine Learning Market?
Key players in the machine learning industry are shifting their focus towards automated tools to streamline the entire process. The overall goal of these tools is to simplify the tasks of model selection, training, and deployment, thereby making machine learning easily accessible to individuals and organizations lacking expert knowledge in this domain. Take for example, in April 2023, AND Solutions Pte Ltd., a fintech firm based out of Singapore known for its automated machine learning solution platforms, unveiled the NIKO AutoML platform. This is an advanced machine-learning tool designed to simplify and hasten the development of prediction models. The platform equips users with a range of tools and features, allowing them to develop and implement high-quality machine learning models without the need for coding or data science skills in a rapid and hassle-free manner. The platform's user-friendly interface guides users through each step of the process, delivering optimal outputs in considerably less time than conventional methods. Apart from being quick and precise in model creation, the NIKO AutoML platform also ensures a streamlined workflow, increased productivity, and cost-efficiency.

What Are the Emerging Segments in the Machine Learning Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Machine Learning Industry?
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.

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