A recent report published by Infinium Global Research on the machine
learning market provides an in-depth analysis of segments and sub-segments in the
global as well as regional machine learning market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional machine learning market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecasts, and dollar values of the global machine learning market. According to the report, the global machine
learning market is projected to grow at a healthy CAGR over the forecast period
of 2020-2026.
Market Insight
Emerging technologies such as machine learning and artificial
intelligence are changing the way industries and humans work. These
technologies have optimized supply chains, launched numerous digital products
and services, and transformed overall customer experience. Machine learning is
a subset of artificial intelligence and it has evolved from computational
learning and pattern recognition in artificial intelligence. Further, it
explores the construction and study of algorithms and carries out predictions
on data. In addition, in the upcoming years, applications of machine learning
in various industry verticals are anticipated to rise exponentially.
Technological advancement and proliferation in data generation are some of the
major pouring factors for the machine learning platforms segment growth.
The World Health Organization (WHO) has declared the novel
coronavirus (COVID-19) outbreak as an epidemic, causing a huge impact on
businesses and humankind. This contagion has emerged as an opportunity for
machine learning and AI-enabled computer systems to fight against the pandemic
as numerous tech giants and start-ups are working on prevents, mitigate, and
contain the virus. Furthermore, the COVID-19 outbreak is projected to stimulate
machine learning market growth of next-generation tech domains, including AI,
due to the mandated work-from-home (WFH) policy owing to this pandemic. The
company that offers Software-as-a-Service (SaaS) and cloud-based customer
engagement and remote connectivity and collaboration services, has experienced
a substantial increase in new sign-ups across its all product portfolios amid
the epidemic. Moreover, tech companies are expanding their product offerings
and services to broaden availability across the world.
The demand for machine learning is accredited to the increasing
adoption of cloud-based services, upsurge in unstructured data leads to the
growing demand for machine learning solutions. Cloud-based services deliver
augmented scalability and security, which has made them more suitable to be
utilized by businesses of all sizes. This rise in the adoption of cloud-based
services and solutions have positively impacted the global machine learning
market. Furthermore, the growing need to improve computing power and decline hardware
cost owing to machine learning algorithms capability to run or execute faster
on a GPU as compared to a CPU is resulting in high adoption of machine learning
technologies among numerous industries. Moreover, the increasing rate of
adoption for IoT and automation systems in industries is projected to drive the
growth of the machine learning market. Conversely, the absence of technical
expertise is anticipated to restrain the machine learning market growth during
the forecast period.
Among the geographies, North America region is expected to hold
the largest share in the global machine learning market as countries such as
the U.S. and Canada are the front-runners of the adoption of new technology.
Furthermore, the large-scale adoption of big data in numerous sectors, for
example, financial services, automotive, industrial, IT &
telecommunications, healthcare, consumer electronics, research, and development,
and many others propel the market growth of the machine learning market in the
North America region. However, the Asia Pacific region is expected to witness
the fastest growth during the forecast period. This is attributed to the
growing adoption of machine learning in emerging markets with a massive talent
base, such as China and India.
Segment Covered
The report on the global machine learning market covers segments such
as component, enterprise size, service, deployment model, and end-user. On the
basis of components, the sub-markets include hardware, software, and services.
On the basis of enterprise size, the sub-markets include large enterprises, and
SMEs. On the basis of service, the sub-markets include professional services and managed services. On the basis of the deployment model, the sub-markets include
cloud and on-premises. On the basis of end-user, the sub-markets include
healthcare, BFSI, government and defense, retail, advertising & media,
automotive & transportation, agriculture, and others.

Companies Profiled:
The report provides profiles of the companies in the market such
as Amazon Web Services, Inc., Baidu Inc., Google Inc., RapidMiner, Inc., Intel
Corporation, International Business Machines Corporation, Hewlett Packard
Enterprise Development LP, Microsoft Corporation, SAS Institute Inc., and SAP
SE.
Report Highlights:
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the machine
learning market. Moreover, the study highlights current market trends and
provides forecasts from 2020-2026. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.