October 4, 2018 – ROGM – Research On Global Markets, a global market research firm, published a report on the global machine learning market today. The report, prepared by Netscribes, shows that the market is expected to exhibit a considerable compounded annual growth rate (CAGR) of 42.6% and reach a market size of USD 23.46 Bn by 2023.
The global machine learning market has risen to prominence in recent times owing to the vast amounts of data generated and the need to process them to obtain meaningful insights. Also, increased deployment of deep learning techniques across various industries is one of the factors accelerating market growth. Geographically, North America holds the largest share of the machine learning market. However, Asia-Pacific is expected to witness the highest CAGR during the forecasted period.
Despite the enormous investments already made on the technology, uncertainties about how the technology will work loom large. Also, lack of training and incorrect formulation of programs could lead to biased results, which in turn will act as a hurdle for market growth.
Key highlights of this report:
• Drivers and challenges in the machine learning market
• Trends in the machine learning market
• Historical, current and forecasted market size data for the machine learning market
• Historical, current and forecasted market size data for the therapeutics segment
• Historical, current and forecasted regional market size data for machine learning
• Analysis of the competitive landscape and profiles of major competitors operating in the market
This report has been formulated and designed with the purpose of giving businesses around the world a concise understanding of the demand for machine learning techniques to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.
For more information, download the Global Machine Learning Market report