Machine learning market size is expected to grow by US$56,493.47 million between 2022 and 2027. Alibaba Group Holding Ltd., Alphabet Inc., etc. identified as key vendors

new york, May 11, 2023 /PRNewswire/ — machine learning market increase in size US$56,493.47 million and CAGR 47.81% From 2022 to 2027, according to Technavio’s latest research report. Research reports focus on top companies and key drivers, current growth dynamics, future opportunities and new product/project launches. Discover the potential of the IT Consulting and Other Services industry and make informed business decisions based on the qualitative and quantitative evidence highlighted in the Technavio report.View sample report

vendor landscape

The machine learning market is fragmented. Many local and global vendors offer machine learning with limited product differentiation. However, due to significant market growth, vendors are continuously adopting the latest innovations. Therefore, the threat of competition is low and is expected to remain the same during the forecast period. Key vendors featured in this report include:

• Alibaba Group Holdings Co., Ltd. – The company offers a machine learning platform for AI that relies on: alibaba cloud Distributed computing cluster.

• Alphabet Inc. – The company offers innovative machine learning products and services that help build, deploy, and scale more effective AI models.

• Amazon.com Inc. – The company offers SageMaker, a machine learning service that enables data scientists, data engineers, MLOps engineers, and business analysts to build, train, and deploy ML models for any use case, regardless of their ML expertise. .

• Big ML Co., Ltd. – The company provides machine learning with predictive applications across industries such as aerospace, automotive, energy, entertainment, financial services, food, healthcare, IoT, pharmaceutical, transportation and telecommunications.

• Altair Engineering Co., Ltd.

• Alterix Co., Ltd.

• Cisco Systems, Inc.

• Fair Isaac Co., Ltd.

• H2O.ai Co., Ltd.

• Hewlett Packard Enterprise Company

• Iflow Soft Solutions Co., Ltd.

• Intel

• International Business Machines Corporation

• Microsoft

• Netguru SA

• Salesforce.com, Inc.

• SAP SE

• SAS Institute Co., Ltd.

• TIBCO Software Co., Ltd.

• Yottamine Analytics LLC

story continues

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Key market segmentation

The market is segmented by end-user (BFSI, retail, telecommunications, healthcare, automotive, etc.), deployment (cloud-based and on-premises), and geography (North America, Europe,Asia Pacific, middle east and Africaand south america).

When viewed by end-user, the market observes significant growth. BFSI segment during the forecast period. BFSI companies are increasingly adopting machine learning solutions to understand their customers and provide customized solutions. Deploying machine learning solutions can help BFSI companies achieve automated processing, data-driven insights about their customers, and personalized customer interactions. Additionally, the ongoing digital transformation efforts in the BFSI sector are driving the growth of this sector.

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Regional market outlook

North America explain 36% Percentage of market growth during the forecast period. The growth of the regional market is driven by increasing data generated from industries such as telecommunications, manufacturing, retail, and energy. In addition, the growing need among enterprises to ensure data consistency and accuracy, improve data quality, identify data patterns, detect anomalies, and develop predictions is also a major factor driving the growth of the machine learning market. It is a factor. North America.

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The machine learning market covers the following areas:

Market trend

• driver – The market is driven by increasing adoption of cloud-based products. Cloud-based service solutions minimize computing, network, and storage infrastructure costs, and offer a range of benefits, including scalability, reliability, and high availability of resources. A cloud-based solution eliminates the need for a dedicated IT support team and reduces operating costs. These many benefits are driving the increasing adoption of cloud-based products in enterprises. Machine learning solutions help companies scale up their project production workloads on the cloud as data grows. Hence, increasing adoption of cloud-based products will drive the market growth during the forecast period.

• tendency – Increasing number of acquisitions and partnerships are recognized as major trends in the market. Vendors operating in the market focus on forming strategic alliances with other players to gain a competitive advantage. These growth strategies give vendors access to new customers. Strategic partnerships also provide access to a larger customer base and technology to help improve our product portfolio. Additionally, partnerships and acquisitions help vendors expand their presence in new markets. This trend among vendors will have a positive impact on market growth during the forecast period.

• challenge – Lack of skilled professionals is recognized as a major challenge hindering market growth. Most companies lack the right mix of talent based on AI and machine learning skill sets. This has led companies to invest more time and money in retaining and training existing employees. And companies working and investing in AI and machine learning face challenges in finding a skilled workforce. Such challenges are limiting the growth of the targeted market.

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Main topics covered:

1.executive summary

2 Market scenery

3 Market size determination

4 Past market size

5 Five Forces Analysis

6 Market Segmentation by End User

7 Market segmentation by deployment

8 Customer Situation

9 Geographical landscape

10 drivers, challenges and trends

11 Vendor Landscape

12 vendor analysis

13 Appendix

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