Deep Learning Market by Component (Hardware, Software, Services) by Application (Image Recognition, Signal Recognition, Data Mining, Others) by End-user (Healthcare, Manufacturing, Automotive, Agriculture, Retail, Security, Human Resources, Marketing, Law, Fintech, Others): Global Industry Size, Share, Statistics and Forecast 2015 - 2027

Deep Learning Market Analysis

Deep learning is a type of machine learning that employs a three- or more-layered neural network. These neural networks try, but fail, to mimic the activity of the human brain, allowing it to "learn" from massive amounts of data. While a single-layer neural network can still make approximations, adding additional hidden layers can help optimise and adjust the network for accuracy. Deep learning is being driven by increased computing power and lower hardware prices, increased acceptance of cloud-based technologies, application in big data analytics, and expanding AI use in customer-centric services. Deep learning had a market value of $ 2.7 billion in 2020, and it is expected to reach $ 21.1 billion by 2027. The market is expected to grow at a CAGR of 34.5% over the forecast period.

Deep Learning Market

Interesting Facts of Deep Learning Market.

  • Deep learning is a type of machine learning itself
  • Simply speaking deep learning mirrors function of human brain
  • Deep learning function in layers
  • Deep learning is expected to bring AI boom
  • Deep learning is subset of machine learning which in turn subset of AI

COVID-19 Impact

Companies are using reports to uncover new financial risks and opportunities as a result of Covid-19, which is driving demand for artificial intelligence and deep learning. IBM Corporation, for example, is examining consumer behaviour and estimating the long-term effects of corona in the coming quarter using tools such as the IBM Watson Tone Analyzer and the IBM ILOG CPLEX. Furthermore, the health-care industry requires a more secure and scalable cloud infrastructure in order to protect accurate patient data with speed and flexibility. Advanced technologies such as cloud computing, machine learning, big data analytics, and deep learning are in high demand for patient data analysis during the pandemic.

Image recognition accounts the largest share in 2020 of the deep learning market

Image recognition accounts for the largest share of the deep learning market in terms of applications. Deep learning is expected to be the fastest growing segment of the data mining industry over the forecast period. Code recognition, digital image processing, facial recognition, object recognition and optical character recognition and pattern recognition are all becoming more prevalent. Deep learning methodologies have been used to create natural language processing and visual data mining as new technologies have emerged. Sentiment analysis, machine translation, fingerprint identification, cybersecurity, and biology are all applications of data mining.

North America accounts the dominant position in the global deep learning market.

North America is expected to account for a significant portion of the global deep learning market due to the continued expansion of significant data volume, as well as the rising demand for the integration of deep learning in corporate consumer-centric solutions. The growing importance of anticipating critical trends and insights related to customer behaviour and operations has been a primary motivator for major corporations to shift their focus toward the use of artificial intelligence (AI) and big data to create value and provide a personalised experience.

Global Deep Learning Market key Players:

Xilinx, Skymind , Sensory Inc., Samsung Electronics, Qualcomm, Nvidia, Microsoft Corporation, Micron Technology, International Business Machine, Intel, Google, Amazon Web Services (AWS) are among the major companies. TransCoder, a system that uses unsupervised deep learning to transform code from one programming language to another, was released in June 2020 by Facebook AI Research. After being trained on over 2.8 million open-source projects, TransCoder outperformed current rule-based code translation algorithms.

Frequently asked questions about global Deep Learning market

Deep learning market is expected to grow at a CAGR of 34.5% from 2021 to 2027, from US$ 2.7 billion in 2020 to US$ 21.1 billion in 2027.

The availability of insufficient structured data is one of the market's significant potentials for increasing demand for deep learning solutions.

Increased use of cloud-based technologies, improved processing power, and lower hardware prices are some of the market's driving forces.

In the global deep learning industry, North America accounts the dominating position.

Deep learning is dominated by image recognition application.

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Published Date:  Nov 2021
Category:  Information and Communications Technology
Report ID:   60450
Report Format:   PDF
Pages:   120
Rating:    4.3 (50)
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