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Deep Learning Global Market Report 2022

·5-min read

Major players in the deep learning market are Amazon Web Services, Google, IBM Corporation, Intel, Micron Technology, Microsoft, NVIDIA, Qualcomm, Samsung, Sensory, Xilinx, Facebook, Mellanox Technology, Baidu, and Pathmind.

New York, Sept. 12, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Deep Learning Global Market Report 2022" -

The global deep learning market is expected to grow from $9.32 billion in 2021 to $13.10 billion in 2022 at a compound annual growth rate (CAGR) of 40.44%. The deep learning market is expected to grow to $50.99 billion in 2026 at a compound annual growth rate (CAGR) of 40.48%.

The deep learning market consists of sales of deep learning solutions and related services by entities (organizations, sole traders, and partnerships) that refer to a system with a collection of machine learning algorithms, which models high-level abstractions in data through architecture consisting of multiple non-linear transformations.These solutions have the potential to carry out engineering activities on their own and process a huge volume of unstructured data, and offers precise results compared to traditional machine learning.

Deep learning is used as a critical component of self-driving automobiles, allowing them to detect a stop sign or discriminate between a pedestrian and a signpost.

The main type of products in deep learning includes hardware, software, and services.Deep learning hardware refers to devices that are used to implement architectures and learning algorithms, particularly those that take advantage of artificial neural networks.

They are in the development and implementation of image recognition, signal recognition, and data mining activities. The deep learning solutions are used in industries ranging from BFSI, automotive, telecom and media, retail, manufacturing, healthcare, and other end, users.

North America was the largest region in the deep learning market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the deep learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The deep learning market research report is one of a series of new reports that provides deep learning market statistics, including deep learning industry global market size, regional shares, competitors with a deep learning market share, detailed deep learning market segments, market trends and opportunities, and any further data you may need to thrive in the deep learning industry. This deep learning market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Increasing adoption of cloud-based services is significantly contributing to the growth of the deep learning market.Cloud-based services have advanced significantly, to the point that they can now provide enterprises with the ability to run their whole business through their cloud-based platforms.

As a result, businesses are increasingly convinced that transferring their tasks from on-premises to cloud-based frameworks.For instance, according to a report by "Harvard Business Review Analytic Services" on cloud computing, over 74% of organizations believe that cloud computing gives them a competitive advantage over their competitors.

Further, according to US-based software as a service for cloud computing management providers, RightScale’s 2019 State Of The Cloud Report, 91% of businesses used the public cloud and 72% used the private cloud.The majority of businesses use both options, with 69% opting for a hybrid cloud solution.

Cloud adoption trends indicate that using both public and private cloud solutions provides more flexibility and a wider range of options. Only 22% use the public cloud exclusively, and only 3% use the private cloud exclusively. Enterprises are increasingly using cloud-based services for deep learning large datasets can be easily processed and managed to train algorithms, and it allows deep learning models to work efficiently at a lower cost. Therefore, the increasing adoption of cloud-based services is expected to increase the demand for the deep learning market during the forecast period.

Increased use of edge intelligence has emerged as a popular trend in the deep learning market.Edge intelligence, also known as edge Artificial Intelligence (AI), is a blend of AI and edge computing that allows machine learning algorithms to be deployed to the edge device where data is generated.

Edge intelligence could give AI to any person or organization, at any time and in any location. For instance, according to the Swiss-based AI tech company, by 2025, 80 billion IoT devices and sensors will be online, with over 50 billion connected to the internet, and according to Cisco’s Global Cloud Index by 2021, approximately 850 Zettabytes (ZB) of data will be generated annually outside the cloud, compared to only 20.6 ZB for worldwide data center traffic.

In March 2022, Microsoft Corporation, a USA-based multi-national technology corporation acquired Nuance for an undisclosed amount.Through this acquisition, Microsoft aims to assist healthcare providers in providing more inexpensive, effective, and accessible treatment, as well as businesses in many industries in creating more personalized and engaging customer experiences.

Cloud-based AI solutions from Microsoft and Nuance are focused on assisting enterprises to achieve their business goals. Nuance Communications, Inc. is a US-based provider of deep learning solutions.

The countries covered in the deep learning market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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