Deep Learning Market Set to Increase Significantly by 2024

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Global Deep Learning Market: Overview

Deep learning is also known as deep machine learning; it is a study of machine learning algorithms and artificial neural networks where more than one layer is hidden. These cascading layers are of nonlinear processing units which are utilized for the transformation and quality extraction where each successive layer uses the output from the previous layer as input. Deep learning applications are widely used in the various industries such as finance, automotive, aerospace, and defense, media and advertising, medical, and others. It is also used in big data analytics.

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Global Deep Learning Market: Growth Factors

Some of the major factors that are contributing to the largest market share include parallelization, high computing power, and rapid improvements in fast information storage capacity in healthcare and automotive industries. Rising need for the small and big enterprises to analyze and understand visual contents is expected to fuel the deep learning market growth. Advanced technology such as graphics processing unit is highly accepted by the scientific disciplines such as data science and deep learning. Deep learning neural networks are utilized in the organizations to pull out valuable insights from massive amounts of data to enhance customer experience and provide innovative products, this may give rise to the market growth. This technology is gaining importance among the researchers and key players due to improving artificial intelligence capabilities in computer vision areas, natural language processing, and image & speech recognition.

Global Deep Learning Market: Segmentation

The global deep learning market is segmented based on application, solution, and end-use. The application segment is classified into voice recognition, data mining, image recognition, and video surveillance & diagnostics. Based on the solution, the global market is divided into software, hardware, and service. The hardware segment is dominating among others owing to rise in demand for high computing chipsets as they are used to run the deep learning algorithms. The service segment is further sub-segmented into integration services, installation services, and maintenance & support services. The hardware segment is sub-segmented into graphics processing unit, application-specific integrated circuit, central processing unit, and field programmable gate array. On the basis of the end-use segment, the market is segregated into healthcare, automotive, manufacturing, aerospace & defense, and others.

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Global Deep Learning Market: Regional Analysis

Asia Pacific is the most prominent region for deep learning market and it is growing at a faster rate owing to higher spending on cognitive computing technologies and artificial intelligence. North America is broadly accepting deep learning technology which will help in enhancing the market revenue. The major factor responsible for the market growth in this region is the presence of leading market players, high government funding, and strong technical base.

Global Deep Learning Market: Competitive Players

Major market players in the global deep learning market include Intel Corporation, Google Inc., Sensory Inc., General Vision Inc., Microsoft Corporation, IBM Corp., Hewlett Packard Enterprise, Qualcomm Technologies, Inc., NVIDIA Corporation, Skymind, and Baidu, Inc.

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