Deep Learning market is projected to reach USD 61.98 Billion by 2028 from $ USD 6.12 Billion in 2021 by registering a CAGR of 39.2 %.
Deep learning is a branch of machine learning that comprises a set of computer instructions or algorithms inspired by the brain’s function and structure. Deep learning is a machine learning technique that instructs computers to learn by doing. Artificial neural networks or deep neural networks are common names for deep learning. Data science, which also encompasses statistics and predictive modeling, contains deep learning.
Deep learning is highly useful for data scientists who are responsible for gathering, analyzing, and interpreting massive amounts of data; it speeds up and simplifies the process. Working with deep learning is analogous to a toddler learning to recognize a dog. Each algorithm in the hierarchy performs a nonlinear transformation on its input before generating a statistical model as an output. Iterations are repeated until the result meets the specified level of precision. Deep learning solutions are in high demand due to the growing use of cloud-based services and the large-scale creation of unstructured data.
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Major Key Players for Deep Learning Market:
- Advanced Micro Devices
- ARM Ltd
Market Dynamics and Factors:
Rising application in the autonomous vehicle and healthcare industries is likely to boost the industry’s growth. This technology is gaining traction due to its complicated data-driven applications, such as speech and image recognition. Because it can be used to solve problems that other technologies cannot, it represents a significant investment potential. High computational power, large data quantities, and improved data storage are among the issues. The deep learning market is predicted to grow due to the rapid expansion in the amount of data generated in numerous end-use sectors. Furthermore, as the demand for human-machine interaction grows, solution providers will have new chances to extend their offers and capabilities. However, the industry’s expansion is expected to be hampered by the growing need for vast amounts of data to operate neural networks.
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Deep Learning Market Report Highlight:
- By Type, the software segment dominates the deep learning market. Over the last few years, the number of software tools for developers has increased dramatically. As a result, the companies are working on deep learning frameworks that will aid in the design, training, and validation of deep neural networks using high-level programming, sophisticated tools, and libraries.
- By Application, the Image recognition segment dominates the deep learning market. Deep learning can be used to make visual content discoverable for users on stock photography and video websites. The technology can be used in a visual search to help people find comparable photos or products based on a reference image.
- By End User,
- North America dominates the Deep Learning Market. Increased investments in artificial intelligence and neural networks are expected to boost the market. Over the projected period, the region’s high adoption of image and pattern recognition is expected to open up new potential prospects.
- Europe has made a substantial contribution to market growth. As a result of various new initiatives adopted to help the artificial intelligence business in the region in order to boost growth and produce a digital economy.
Key Industry Development:
February 2021, Seed Health announced the acquisition of Auggi. Auggi uses a deep learning algorithm for automated stool image detection and characterizes an individual’s stool over time using computer vision and deep convolutional neural networks. The acquisition will allow Seed Health to integrate Auggi’s mobile tracking application across their clinical trials for humans assessing DS-01and the gut microbiota in IBS after antibiotic consumption.
January 2020 – Sensormatic Solutions and Intel Corporation teamed up to create scalable, AI-powered solutions for retailers, according to Johnson Controls’ retail solutions portfolio. Sensormatic Solutions’ AI portfolio at the edge will be built on Intel platforms in the future. Sensormatic Solutions will also use Intel’s OpenVINO toolkit distribution and Intel models to deliver its solutions.
Deep Learning Market Segmentation:
- Signal Recognition
- Image Recognition
- Aerospace & Defense
For this report, Introspective Market Research has segmented the Deep Learning Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Deep Learning Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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