Deep Learning Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Forecast to 2027

Overview

Deep learning is a subset of machine learning that tries to mimic human behavior without supervision. Construction of large neural networks and feeding of large volumes of data for distinguishing between humans and objects forms a vital point of this technology. The Deep Learning Market report by Market Research Future (MRFR) covers latest updates and prospects in novel applications in the industry for the period of 2018 to 2023 (forecast period). The COVID-19 outbreak and its implications are outlined in the report.

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Detailed Regional Analysis

The regional inquiry of the deep learning market includes regions such as Asia-Pacific, North America, Europe, and the rest of the regions. The developing implementation of deep learning technology for applications specifically of voice and image recognition, signal recognition, data mining, and diagnostics purpose in countries in the North American region such as the US, Canada, and Mexico are motivating the market development. The developing advance and penetration Japan, Australia, New Zealand, South Korea, and Taiwan in deep learning technology are rapidly boosting the market development in the Asia-Pacific region. Moreover, the implementation of deep learning technology by administrations in the European countries for fraud detection, surveillance, and data mining are also likely to incentivize the market development in the region.

Market Scope

The global deep learning market is expected to expand at 30.87% CAGR during the forecast period. Generation of large volumes of unstructured data and cloud services has compelled the need for deep learning. This is evident with applications in robotics, artificial intelligence, and image and speech recognition. For instance, Hanson Robotics has developed Sophia, a humanoid robot, with features and habits close to humans.

The increasing need for human and machine interaction in the coming years can provide abundant opportunities to the market. Investments of multinational corporations into the technology can provide stimulus to the market. Agreements and partnerships between companies for developing and improving new technologies will lead to new avenues for the market to expand. Government initiatives and increased budget for new technologies can buttress the trend in the forthcoming years.

But the need for large amount of data can pose a challenge to the market.

Competitive Outlook

Micron Technology, Advanced Micro Devices Inc., Baidu Inc, Tenstorrent, Samsung Electronics Co Ltd, Sensory Inc., Adapteva, Inc., IBM Corporation, Mellanox Technologies, Intel Corporation, Google LLC, Qualcomm Technologies Inc., Amazon Inc., Microsoft Corporation, NVIDIA Corporation, Xilinx Inc., and Facebook are key players of the Global Deep Learning Market Growth.

Segmental Analysis

The segment examination of the deep learning market includes segments created on the basis of end-user, component, application, and region. The component basis of segmenting the deep learning market consists of hardware, which is further sub-segmented into memory, processor, and network, software which is further sub-segmented solution and platform and services which is sub-segmented into training, support & maintenance and installation. The segmentation of the deep learning market by application includes data mining, image recognition, signal recognition, and others. The end-user segment of the deep learning market consists of manufacturing, security, retail, media & entertainment, BFSI, healthcare, automotive, and agriculture. The regions of the deep learning market consist of Asia-Pacific, North America, Europe, and the rest of the regions.

Regional Analysis

Within North America region, the growing adoption of deep learning technology for applications, namely signal recognition, voice and image recognition, data mining, and diagnostics purpose in the U.S., Canada, and Mexico is driving the market growth. Huge demand for realistic visuals in gaming and edutech can trigger the demand for deep learning. Graphics processing units are being produced on a large scale to cater to high-speed computing applications.

The APAC Deep Learning Industry is driven by the growing development and penetration of deep learning technology in Australia, China, Japan, India, New Zealand, South Korea, and Taiwan. Extensive use of chatbots and virtual assistants for smartphones and other smart devices can drive the demand for deep learning. The insights into human behavior, resolution of normal queries, and improvements of security in public places can bolster the market growth exponentially during the forecast period.

Additionally, the adoption of deep learning technology by governments in the European countries for fraud detection, surveillance, and data mining are expected to propel the market growth in the region.

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