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Machine Learning Market by Vertical, Deployment Mode, Service, Organization Size And Region - Global Forecast to 2022

Machine Learning Market: Global Forecast until 2022

  • September 2017
  • 162 pages
  • ID: 5108760
In this report:
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Summary

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The machine learning market is estimated to rise at a compound annual growth rate of 44.10 percent during the forecast period

The machine learning market is forecasted to grow from ~$1.4B in 2017 to ~$8.8B by 2022, at a CAGR of 44.10 percent. The proliferation of important and multidimensional data sets, growing focus towards solving real-time problems from info together with increasing demand for sophisticated algorithm platform and tool is driving the adoption of machine learning across the world.

The main issue in front of most of the organizations while incorporating machine learning in their business process is the lack of skilled employees containing analytical talent, and the market demand for those who can monitor analytical content is even greater.

Professional service segment is planned to have a larger market share during the outlook period

The service segment in the machine learning market includes professional and managed services. Majority of the firms do not have the expertise to successfully manage infrastructure, and hence, they outsource these services to third-party partners to preserve the level of security and safety. The increase of the professional services segment is primarily governed by the complexity of operations and growing deployment of machine learning solutions.

Large enterprises segment is intended to have a larger market size during the estimate period

The organization size segment in the machine learning market includes Small and Medium-Sized Enterprises and big enterprises. Emergence in the industry demand for cloud computing, cloud storage, IoT connected devices, and excessive use of smartphones are some of the prime reasons why considerable enterprises have turned toward machine learning for processing data. In significant enterprises, machine learning has a huge potential for the big data technology in allowing precise decision-making for superior performance.

Asia Pacific (APAC) is anticipated to witness the more significant increase rate during the outlook period

Asia-Pac is forecasted to grow at the highest compound annual growth rate (CAGR) during the estimate period. Factors, including continual rise in the mobile network, growing the complexity of business, increase in demand for intelligent business processes, and exponential increase in data generation overall the industry verticals are driving the machine learning market in the Asia-Pacific regions. The North American area is forecast to have the biggest market share during the outlook period. The main increase drivers for this area are the large-scale investments in implementing machine learning services due to the rise in demand for processed data. Furthermore, recently the area also witnessed the widespread adoption of cloud-based machine learning platform among important enterprises and SMEs across multiple verticals.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with the main people.

• By Company category - Tier 1 - 18.0 percent, Tier 2 - 48.0 percent, and Tier 3 - 34.0 percent

• By Description - C-suite - 22.0 percent, Director-level - 43.0 percent, and Others - 35.0 percent

• By Region -North America - 42.0 percent, Europe, Middle East and Africa (EMEA) (EU, Middle East area and African continent) - 32.0 percent, and Asia-Pacific - 26.0 percent

The main machine learning vendors are Microsoft (NASDAQ:MSFT), IBM (NYSE:IBM), SAP SE (SAP), SAS Institute Inc., Google, Incorporated, Amazon Web Services Inc., Baidu, Incorporated, BigML, Incorporated, Fair Isaac Corporation, Hewlett Packard Enterprise Development LP, Intel (NASDAQ:INTC), KNIME.com AG, RapidMiner, Incorporated,Angoss Software Corporation, H2O.ai, Alpine Data, Domino Data Lab, Incorporated, Dataiku, Luminoso Technologies, Incorporated, TrademarkVision, Fractal Analytics Inc.,TIBCO Software Inc., Teradata, Dell Inc., and Oracle (NASDAQ:ORCL).

Segment Research

The machine learning market has been split on the basis of verticals, deployment modes, organization sizes, services, and area. The machine learning is broken down on the basis of verticals into Banking, Financial Services, and Insurance, energy and utilities, healthcare and life sciences, retail, telecommunication, manufacturing, government and defense, and others (transportation, agriculture, media and entertainment, and education).

The verticals are further split on the basis of application areas, applications of machine learning in Banking, Financial services and Insurance (BFSI) includes fraud and risk management, investment prediction, sales and marketing campaign management, customer segmentation, digital assistance, and others (compliance management and credit underwriting). Applications of machine learning in healthcare and life sciences includes disease identification and diagnosis, image analytics, drug discovery/manufacturing, personalized treatment, and others (clinical trial research and epidemic outbreak prediction).

Applications of machine learning in retail includes inventory planning, upsell and cross channel marketing, segmentation and targeting, recommendation engines, and others (customer ROI and lifetime value and customization management). Applications of machine learning in telecommunication includes customer analytics, network optimization, network security, and others (digital assistance/contact centers analytics and marketing campaign analytics).

Applications of machine learning in government and defense includes threat intelligence, autonomous defense system, and others (sustainability and operational analytics). Applications of machine learning in manufacturing includes predictive maintenance, demand forecasting, revenue estimation, supply chain management, and others (root cause review and telematics). Applications of machine learning in energy and utilities includes power/energy usage analytics, seismic data processing, smart grid management, carbon emission, and others (customer specific pricing and renewable energy management).

The services offered in the machine learning market include professional and managed services. The deployment modes in the machine learning market contain the cloud and on-premises. The organization sizes are divided into Small and Medium-Sized Enterprises and big enterprises. Finally, on the basis of regions, the machine learning market is divided into north america, Europe (EU), Asia-Pac, Middle East (ME) and African continent, and Latin America area.

The industry report will facilitate the market top players and new sector entrants in the machine learning market in these ways:

1. The document breaks down the market into different subsegments, therefrom it includes the industry overall. The study offers the best approximations of the revenue data for the global market and the sub-segments. The industry numbers are further split across several verticals and localities.

2. The analysis helps in understanding the global increase of the market. It offers info on the top market drivers, market restraints, opportunities, and alternatives.

3. The market research helps in understanding the players better and gaining additional insights to enhance the organization's position in the sector. The market research also presents the positioning of the main actors established on their product offerings and strategic management.

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