Deep Learning Market by Offering (Hardware, Software, and Services), Application (Image Recognition, Signal Recognition, Data Mining), End-User Industry (Security, Marketing, Healthcare, Fintech, Automotive, Law), and Geography - Global Forecast to 2023
“Deep learning market projected to grow at a CAGR of 41.7% during forecast period”
According to the new market research report on deep learning, this market is expected to be worth USD 3.18 billion in 2018 and is likely to reach USD 18.16 billion by 2023, at a CAGR of 41.7% from 2018 to 2023. The growth of the deep learning market can be attributed to improving computing power and declining hardware cost. However, the lack of technical expertise and absence of standards and protocols, and increasing complexity in hardware due to complex algorithm used in deep learning technology are restraining the growth of the deep learning market.
“Market for services to grow at highest CAGR from 2018 to 2023”
The market for services is expected to grow at the highest CAGR from 2018 to 2023. Deep learning technology is highly complex in nature requiring the implementation of sophisticated algorithms. Deep learning systems require installation; training; and support and maintenance services. Installation services allow the software to be integrated with the analytics side to enable data retrieval and generate desired result through computation. The use of computer systems for DL/AI further increases the amount of work involved in installation.
“Processor held largest market size in 2017”
In terms of hardware, processor held the largest size of the deep learning market in 2017. Companies in industries such as healthcare and finance are investing in machine learning infrastructure. High parallel processing capabilities and improved computing power have resulted in the high adoption of GPUs in various DL applications.
“Deep learning market for manufacturing industry to witness highest growth between 2018 and 2023”
The market for the manufacturing industry is expected to witness the highest growth during the forecast period. Deep learning technology is used in industrial robots, machine vision systems, and others to improve the process and product quality, minimize cycle time, and increase the efficiency of the manufacturing process as a whole.
“Deep learning market in APAC expected to grow at highest CAGR”
This report covers the deep learning market in North America, Europe, APAC, and RoW. Rise in the adoption of deep learning technology in APAC could be attributed to the increasing applications of deep learning in media & advertising, finance, and retail sectors, among others, in technologically advancing countries such as India, China, and Japan. Growing e-commerce, online streaming, and increasing internet penetration have resulted in the growth of marketing industries. In the security vertical, with increasing incidents of cyberattacks and a growing cyber-war in the region, organizations and governments are focusing on robust defense infrastructure.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 = 55%, Tier 2 = 35%, and Tier 3 = 10%
• By Designation: C-Level Executives = 55%, Directors = 30%, and Others = 15%
• By Region: North America = 60%, Europe = 20%, APAC = 15%, and RoW = 5%
Companies that are profiled in this report are NVIDIA (US), Intel (US), Xilinx (US), Samsung Electronics (South Korea), Micron Technology (US), Qualcomm (US), IBM (US), Google (US), Microsoft (US), and AWS (US). Some of the key start-ups included in this report are Graphcore (UK), Mythic (US), Adapteva (US), and Koniku (US).
The report describes various offerings associated with deep learning and related developments across industry verticals and regions. It aims at estimating the size and growth potential of this market across segments such as offerings (hardware, software, and services), applications, end-user industries, and geographies. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Reasons to Buy the Report
• The report includes the market statistics pertaining to various segments, along with their respective revenue.
• The report details the major drivers, restraints, challenges, and opportunities pertaining to the deep learning market.
• The report provides illustrative segmentation, analysis, and forecast for the deep learning market by offering, application, end-user industry, and geography to give an overall view of the deep learning market.
• The report provides a detailed competitive landscape including key players and their ranking.