Deep Learning Market 2021 Industry Size, Share, In-Depth Qualitative Insights, Growth Opportunity, Regional Analysis by 2030 | Says Kenneth Research


In a recent published report, Kenneth Research has updated the market report for Deep Learning Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Deep Learning Market products.

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The Deep Learning Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

The global deep learning market is expected to expand at 30.87% CAGR during the forecast period. Global deep learning market is expected to witness substantial growth during the forecast period. North America is estimated to be a prominent region for deep learning market due to the presence of key market players, heavily investing in the research and development of deep learning software, platforms, applications, and systems across the US, Canada, and Mexico.

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Similarly, increasing demand for deep learning technology for natural language processing and voice/speech recognition in the European financial service industry is projected to drive the deep learning market in the coming years. Asia-Pacific held the second largest market share in deep learning in 2017. In November 2017, Google developed its collaboration tool named Colaboratory, that can run code and show output within the document. It is based on Jupyter (an open source platform for software development using python) and allows the users to share and use notebooks with another user without installing it on the computer.

Source: – MRFR analysis

Increasing adoption of cloud-based services and large scale generation of unstructured data has increased the demand for deep learning solutions. Additionally, increasing applications of deep learning in recent years for image/speech recognition, data mining and language translations, and the growing number of humanoid robots, for example, Sophia, developed by Hanson Robotics, are some of the major drivers of the deep learning market. Growing investments for developing machine learning and deep learning applications in the region by key market players is expected to accelerate the market growth in North America.Presence of key market players and emerging enterprises offering artificial intelligence and deep learning solutions in the country boost the market growth in the US.

Countries such as India, China, and Japan are expected to contribute to the growth of deep learning applications as these countries are witnessing rising number of start-ups focused on offering AI (Artificial Intelligence), ML (Machine Learning), and DL (Deep learning) solutions such as multi-lingual chatbots for online shopping to enhance customer experience. The growing development and reach of deep learning technology across China, Japan, India, Australia, New Zealand, South Korea, and Taiwan is expected to drive the market growth in Asia-Pacific. Rapid growth in the number of chatbots and investments by companies such as Amazon Web Services Inc., to encourage the adoption of digital voice assistants in this region is also responsible for the market growth in Asia-Pacific. Presence of key market players such as Samsung Group and Baidu Inc. focused on the development of deep learning technology also stimulates the market growth in Asia-Pacific.

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Synopsis

Deep learning market has been segmented on the basis of component, application, end user, and region. Based on component, the market has been classified into hardware (processors, memory, and network), software (solution and platform) and services (installation, training, and support & maintenance). The hardware segment is expected to dominate the deep learning market during the forecast period.

Regional Analysis

Deep learning market by region has been segmented into Asia-Pacific, North America, Europe, and the rest of the world (RoW). Within North America region, the growing adoption of deep learning technology for applications namely voice and image recognition, data mining, signal recognition and diagnostics purpose in the US, Canada, and Mexico is driving the market growth. The growing development and penetration of deep learning technology in China, Japan, India, Australia, New Zealand, South Korea, and Taiwan rapidly drives the market growth Asia-Pacific region. Additionally, the adoption of deep learning technology by governments in the European countries for surveillance, fraud detection, and data mining are also expected to propel the market growth in the region.

Companies Covered

The key players of global deep learning market are Amazon Inc. (USA), Intel Corporation (USA), Samsung Electronics Co Ltd (South Korea), Micron Technology (USA), Sensory Inc. (USA), Xilinx Inc. (USA), Google LLC (USA), Mellanox Technologies (USA), Adapteva, Inc. (USA), Qualcomm Technologies Inc. (USA), NVIDIA Corporation (USA), Baidu Inc (China), IBM Corporation (USA), Advanced Micro Devices Inc. (USA), Facebook (USA), Tenstorrent (Canada), and Microsoft Corporation (USA). 

Key Developments 

In October 2018, Facebook announced the launch of its deep learning framework PyTorch 1.0. The framework includes a set of tools which makes it more compatible with platforms like Google Cloud, Amazon Web Services, and Microsoft’s Azure Machine Learning.

In October 2018, Intel launched Intel Vision Accelerator Design products that are equipped with AI targeted on analytics performance on edge devices. With these products, businesses can implement vision-based AI systems to collect and analyze data on edge devices for real-time decision making.

Market Segmentation

By Component: Hardware (processor, memory, network), Software (solution, platform), Services (installation, training, support & maintenance).

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By application: Image Recognition, Data Mining, Signal Recognition, Others.

By End-User: Security, Manufacturing, Retail, Automotive, Media & Entertainment, BFSI, Healthcare, Agriculture,

Key questions addressed by the report

What was the historic market size (2017)?

Which segmentation (Component / Application / End-User is driving market?

What will be the growth rate by 2024?

Who are the key players in this market?

What are the strategies adopted by key players?

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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