Deep learning market 2023-2027: A Descriptive Analysis of Parent Market, Five Forces Model, Market Dynamics, & Segmentation - Technavio
NEW YORK, Dec. 2, 2022 /PRNewswire/ -- According to Technavio, the global deep learning market size is projected to grow by USD11113.13 million from 2022 to 2027. The market is estimated to grow at a CAGR of 29.79% during the forecast period. North America held the largest share of the global market in 2022, and the region will contribute to 37% of the market growth by 2027%.
Global deep learning market - Parent Market Analysis
Technavio categorizes the global deep learning market as a part of the application software market, which covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. Technavio calculates the global application software market size based on combined revenue generated by companies that are engaged in the provision of all types of IT software, including cloud-based software.
The global deep learning market is fragmented, and the five forces analysis covers?
Bargaining Power of Buyers
Threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of porter five model helps to strategize the business, for entire details - buy report!
Global deep learning market ? Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global deep learning market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application, type, and region.
The image recognition segment will grow at the highest rate during the forecast period. The need for identifying and removing fake social media accounts is one of the key factors driving the growth of the segment. Also, the increasing demand for image processing from the BFSI sector for a diverse range of applications, such as personalizing communication with customers, staying competitive in a continuously evolving market, and improving productivity is fueling the growth of the segment.
Geography Overview
By geography, the global deep learning market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global deep learning market.
North America is projected to contribute 37% of market growth by 2027. The increasing use of deep learning in various industrial applications, such as voice recognition, image recognition, and smartphone assistants is driving the growth of the regional market. In addition, governments in the region are increasingly focusing on developing policies to implement deep learning in the industrial sector. This is expected to further foster the growth of the regional market during the forecast period.
The increasing entry of startups is the major growth driver in the market.
With increased funding from global investors, the market has witnessed an increase in the number of startups over recent years. For instance, Atomwise Inc. (Atomwise) and IBM-backed precision medicine startup Pathway Genomics Corp. (Pathway Genomics) offer deep learning platforms for the healthcare industry. Similarly, Comma.ai Inc. (Comma.ai) is another major startup funded to offer deep learning-based solutions for the robotics industry
Increased funding in the field of deep learning has encouraged many startups to apply the technology in various industry verticals. Thus, the increasing number of startups, coupled with the expanding application areas of deep learning, is expected to drive the growth of the market during the forecast period.
Recent trends influencing the market
The increasing number of collaborations among vendors is the key trend in the market.
Vendors in the market are forming collaborations and partnerships with other market players to expand their product portfolios, enter new markets, and gain access to new distribution networks.
The strategy also helps vendors gain access to the latest technologies and other resources to improve their market shares.
This trend among vendors will have a positive impact on the growth of the market during the forecast period.
Major challenges hindering market growth
The lack of technical expertise is a major challenge in the market.
The deployment of deep learning requires different set of skills when compared to traditional data analysis. It is more complex and requires advanced knowledge of machine learning and programming languages.
However, many organizations across the world lack specialists that are properly skilled in the field of deep learning. Moreover, it is time-consuming for organizations to find well-trained professionals with the right skill sets.
These factors are limiting the implementation of deep learning solutions among organizations, which is hindering the growth of the market in focus.
The conversational AI market size is expected to increase by USD 1.14 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 21.6%. The growth in natural language processing (NLP), machine learning (ML), and AI technologies is notably driving the conversational AI market's growth, although factors such as resistance to using chatbots may impede the market growth.
According to Technavio's analyst, the 2D and 3D machine vision systems market size is expected to be valued at USD 7.96 billion by 2026 with a progressing CAGR of 9.75%. The increasing investments in machine vision technology is notably driving the 2D and 3D machine vision systems market growth, although factors such as lack of efficient system operators may impede the market growth.
Deep Learning Market Scope
Report Coverage
Details
Page number
173
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 29.79%
Market growth 2023-2027
USD 11113.13 million
Market structure
Fragmented
YoY growth (%)
20.0
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 37%
Key countries
US, Canada, China, UK, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Amazon.com Inc., Atomwise Inc., Comma.ai Inc., Deep Instinct, DeepMind Technologies Ltd., Graphcore Ltd., H2O.ai Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., Micron Technology Inc., Microsoft Corp., Mphasis Ltd., NVIDIA Corp., and Qualcomm Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Type
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global deep learning market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global deep learning market 2017 - 2021 ($ million)
Exhibit 153: International Business Machines Corp. - Overview
Exhibit 154: International Business Machines Corp. - Business segments
Exhibit 155: International Business Machines Corp. - Key offerings
Exhibit 156: International Business Machines Corp. - Segment focus
12.13 Micron Technology Inc.
Exhibit 157: Micron Technology Inc. - Overview
Exhibit 158: Micron Technology Inc. - Business segments
Exhibit 159: Micron Technology Inc. - Key offerings
Exhibit 160: Micron Technology Inc. - Segment focus
12.14 Microsoft Corp.
Exhibit 161: Microsoft Corp. - Overview
Exhibit 162: Microsoft Corp. - Business segments
Exhibit 163: Microsoft Corp. - Key news
Exhibit 164: Microsoft Corp. - Key offerings
Exhibit 165: Microsoft Corp. - Segment focus
12.15 NVIDIA Corp.
Exhibit 166: NVIDIA Corp. - Overview
Exhibit 167: NVIDIA Corp. - Business segments
Exhibit 168: NVIDIA Corp. - Key news
Exhibit 169: NVIDIA Corp. - Key offerings
Exhibit 170: NVIDIA Corp. - Segment focus
12.16 Qualcomm Inc.
Exhibit 171: Qualcomm Inc. - Overview
Exhibit 172: Qualcomm Inc. - Business segments
Exhibit 173: Qualcomm Inc. - Key news
Exhibit 174: Qualcomm Inc. - Key offerings
Exhibit 175: Qualcomm Inc. - Segment focus
12.17 Sensory Inc.
Exhibit 176: Sensory Inc. - Overview
Exhibit 177: Sensory Inc. - Product / Service
Exhibit 178: Sensory Inc. - Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 179: Inclusions checklist
Exhibit 180: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 181: Currency conversion rates for US$
13.4 Research methodology
Exhibit 182: Research methodology
Exhibit 183: Validation techniques employed for market sizing
Exhibit 184: Information sources
13.5 List of abbreviations
Exhibit 185: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
OKX, a leading Web3 technology company, today announced the integration of Side Protocol with the OKX Wallet. Side Protocol is a cross-chain middleware protocol designed to enable seamless communication and asset transfer between heterogeneous...
OKX, a leading Web3 technology company, today announced the integration of Biturbo with the OKX Wallet. Bitrubo is an innovative layer 2 solution that brings the power of Ethereum's smart contracts to the Bitcoin network. Biturbo is designed as an...
The report titled "Cognitive Security Market by Component (Services, Solutions), Security Type (Application, Cloud, Cybersecurity), Application, Deployment Mode, Enterprise Type, Vertical - Global Forecast 2024-2030" is now available on...
The report titled "Anti-Mullerian Hormone Test Market by Product (POC Testing, Self-check Kits), End-User (Commercial Labs, Research & development), Distribution, Use - Global Forecast 2024-2030" is now available on 360iResearch.com's offering,...
Rakovina Therapeutics Inc. a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies announced the financial results for its fourth quarter and fiscal year ending December 31, 2023 and...