Market Research Report
Machine Learning - Global Market Outlook (2019-2027)
|Machine Learning - Global Market Outlook (2019-2027)|
Published: June 1, 2020
Stratistics Market Research Consulting
Content info: 170 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Machine Learning Market is accounted for $2.96 billion in 2019 and is expected to reach $49.13 billion by 2027 growing at a CAGR of 42.1% during the forecast period. Increase in growth of adoption of cloud-based services and technological advancements are the major factors driving the market growth. However, lack of skilled employees is restraining the market growth.
Machine Learning (ML) is a sub-portion of Artificial Intelligence (AI). This scientific concept studies computational learning, statistics and algorithms models of computers used to perform specific tasks without input of instructions, and recognition of patterns in AI. Generally, it investigates and analysis construction of statistical data and algorithms and estimates forecasts on analyzed data. Different applications of ML include Optical Character Recognition (OCR), e-mail filtering, detection of network intruders, learning to rank, and computer vision.
Based on end user, the healthcare and life sciences segment is likely to have a huge demand due to increase in adoption of this technology in emerging healthcare areas such as prediction of the probability of death of a person and its usage for diagnosis. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to its increase in adoption in emerging markets with massive talent base countries such as China and India and increasing adoption of advanced technologies.
Some of the key players profiled in the Machine Learning Market include Amazon Web Services Inc, Baidu Inc, BigML Inc, Fair Isaac Corporation, Google Inc, H2o.AI, Hewlett Packard Enterprise Development LP, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, SAP SE and SAS Institute Inc.
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.