Machine Learning Market is expected to reach US$ 276.58 Billion in 2028, growing at a CAGR of 44% during 2022-2028, reports Stratview Research

Stratview Research, a leading market research firm has launched a report on the Machine Learning Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Machine Learning Market is driven by a host of factors, some of which are noted below:

• Growing developments in technology resulting in a higher accuracy of systems
• People interact with several systems that are based on machine learning such as voice recognition systems, recommender systems, and image recognition systems.
• Significant technology advancement in image recognition system has spurred the accuracy of the system.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Machine Learning Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

• By Component (Hardware, Software, Service),
• By Enterprise Size (SMEs, Large Enterprises),
• By End-Use (Healthcare, BFSI, Law, Retail, Advertising & Media, Automotive & Transportation, Agriculture, Manufacturing, Others),
• By Region (North America, Europe, Asia-Pacific, and Rest of the World)

Machine Learning Market Insights

Market Trends by Component Trends

The market has been classified into hardware, software, and service. Under these, the hardware segment held a significant market share in 2021 owing to rising adoption of hardware optimized for machine learning. Development of customized silicon chips with AI and ML capabilities is further bolstering the adoption of hardware, thereby boosts the segment growth.

Which region offers the best opportunity and growth?

The Asia Pacific market held the highest market share in 2021 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to rising adoption of machine learning in developing countries with a massive talent base, such as India and China. Better access to consumers who are willing to try AI-enabled services & products, further bolsters the regional market growth during the review period.

COVID-19 Impact on the Machine Learning Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

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Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

• Amazon Web Services, Inc. (US)
• Baidu Inc. (China)
• Google Inc. (US)
• H2o.AI (US)
• Hewlett Packard Enterprise Development LP (US)
• Intel Corporation (US)
• International Business Machines Corporation (US)
• Microsoft Corporation (US)
• SAS Institute Inc. (US)
• SAP SE (Germany)

What deliverables will you get in this report?

• In-depth analysis of the Machine Learning Market
• Detailed market segmentation.
• Competitive-landscape analysis.
• Historical, present, and future market size analysis.
• Industry trends, technologies, and advancements.
• Growth and operation strategies adopted by key players.
• Potential segments/regions offering promising growth.
• Geographical presence of the key players.