The global deep learning market is expected to grow at a CAGR of 51.1% from forecast period 2019 to 2026 and expected to reach the value of around US$ 56,427.2 Mn by 2026.
Deep learning is a subdivision of machine learning in artificial intelligence (AI) concerned with the algorithm inspired by the functioning of human brain termed as artificial neural networks. It is also termed as deep neural learning or deep neural network. Deep learning is evolved with the increasing amount of unstructured data due to digitalization. The available amount of data is utilized in deep learning to process or understand that data for effective decision making in various industry verticals including healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law, and fintech.
Improving computing power and declining hardware costs coupled with the rapidly growing electronics industry. The increasing adoption of cloud-based technology due to the evolution of big data is supporting the deep learning market growth. The increasing adoption of artificial intelligence (AI) based customer-centric services are further propelling the market value. The rising security issues in almost every industry vertical due to online platform usage is further accelerating market growth. In addition, the presence of less amount of structured data and increasing spending in healthcare, travel, tourism, and hospitality industries is anticipated to create potential opportunities in the deep learning market.
On the flip side, increasing complexity in hardware due to the complex algorithms used in technology-based applications is projected to hamper the growth over the forecast period. Additionally, the absence of standards and protocols is further expected to hinder the growth to some extent during the estimated period.
Hardware segment dominated the global deep learning market with market share in 2018
The hardware segment dominated the market because of the increasing need for hardware platforms with high computing power to execute deep learning algorithms. The hardware segment consists of processors such as GPU, FPGA, and CPU among others, memory, and network. The rapidly evolving R&D activities for the expansion of better processing hardware for deep learning is also accelerating the market value. Additionally, the best suitable hardware to support deep learning technology can amplify the results.
By application, image recognition segment held the major share in 2018
The image recognition segment dominated the global deep learning market with maximum share in the base year. The increasing demand for optical character recognition, object recognition, pattern recognition, code recognition, facial recognition, and digital image processing is particularly propelling market growth.
On the basis of End-User, security segment of deep learning market accounted for the major share
The security segment held the dominating share by end-user in the deep learning market. The rising security concern due to the changing cybersecurity ecosystem is supporting the segment growth. The new types of cyberattacks are found in the organization for the concern organizations are investing in preventive measures where deep learning helps in protecting their crucial information without data loss is also positively supporting the deep learning market value.
The market research study on “Deep Learning Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global deep learning market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global deep learning market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global deep learning market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The deep learning market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America held the major share of the global deep learning market
North America dominated the global market with a major share in 2018 due to the presence of advanced technology infrastructure. The major economy of the region including the US and Canada is particularly contributing to the major share of the regional market. The high demand for deep learning applications from industry verticals including healthcare, IT, aerospace & defense, automotive, and telecommunications is additionally supporting the regional market growth.
The players profiled in the report include Amazon Web Services (AWS), Google, IBM, Intel, Micron Technology, Microsoft, Nvidia, Qualcomm, Samsung Electronics, Sensory Inc., Skymind, Xilinx, AMD, General Vision, Graphcore, Mellanox Technologies, Huawei Technologies, Fujitsu, Baidu, Mythic, Adapteva, Inc., and Koniku. The major players involved in mergers, acquisitions and strategic partnerships for the expansion of market share.
Market By Component
Market By Application
Market By End-User
Market By Geography
Middle East & Africa
Deep learning is a subdivision of machine learning in artificial intelligence (AI) concerned with the algorithm inspired by the functioning of human brain termed as artificial neural networks.
The increasing adoption of cloud-based technology due to the evolution of big data and rising security issues are the main factors to drive deep learning market growth
According to Acumen Research and Consulting, the deep learning market value is anticipated to be worth around US$ 56,427.2 million in 2026.
The deep learning market is anticipated to grow over 51.1% CAGR during the forecast period 2019 to 2026.
Image recognition, signal recognition, data mining and others are the application segments of deep learning market.
North America held maximum share in 2018 for deep learning market.
Amazon Web Services (AWS), Google, IBM, Intel, Micron Technology, Microsoft, Nvidia, Qualcomm, Samsung Electronics, Sensory Inc and Fujitsu are the top players operating in the deep learning market.