Global Machine Learning Market Size Study, Application and Regional Forecast till 2027
Bharat Book Bureau Provides the Trending Market Research Report on “Global Machine Learning Market 2019-2027”under IT Services Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
Global Machine Learning Market to witness 34.19% of CAGR over the forecast period 2019-2027. The concept of machine learning deals with a computer system’s ability to learn on its own, making accurate predictions without explicit programming. The rise in the implementation of data-driven applications and the augmented demand for intelligent business processes are fueling the demand for the machine learning market.
The expanding data volume across the world, significant developments in the field of artificial intelligence & machine learning and the widening applications of ML in different end-use industries are pushing the growth of the global market for machine learning. Moreover, the incorporation of AI & ML with Big Data, rise in the adoption of IoT-connected devices, smart robot development and the mushrooming of start-ups in ML are factors providing potential for market growth.
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The hardware & software systems within a machine learning system are at risk of encountering numerous problems, which may lead to its malfunctioning, which, in turn, would disrupt the ML services. Also, machine learning algorithms have several applications, which make them sensitive to various data security threats. Thus, failure of components and inability to secure private & sensitive data are factors restraining market growth. Further, computational and technological barriers also pose a challenge for the growth of the machine learning market.
The global market for machine learning covers the regions of North America, the Asia-Pacific, Latin America, Europe and the Middle East and Africa.
The Asia-Pacific market for machine learning is the fastest-growing, globally, registering the highest CAGR. The rising adoption of Big Data and cloud services in APAC countries like Japan, India and China have led to the rise in the adoption of machine learning in the region. This has fueled the growth of Asia-Pacific’s machine learning market. As renowned market players looking to enter APAC, high growth is expected for the machine learning market in this region. Moreover, the widespread applications of AI and the government initiatives to promote ML and other such technologies also act as driving factors for the market.
The companies competing in the global machine learning market are Intel Corporation, Clarivate Analytics LLC (TrademarkVision), Hewlett Packard Enterprise Company (HPE), Amazon Web Services, Inc., Dell Technologies, Inc., TIBCO Software, Inc., Fair Isaac Corporation (FICO), IBM Corporation (International Business Machines), Microsoft Corporation, Google, Inc., SAP SE, Teradata Corporation, Oracle Corporation, Fractal Analytics and Baidu, Inc.
Microsoft Corporation is a global leading tech giant in the field of software products & services. It is one of the key research organizations in the field of computer science, working closely with reputed universities in the world to advance the state-of-the-art in the field. Azure Machine Learning Studio by Microsoft is an integrated, end-to-end data science & advanced analytics solution. Microsoft Cloud supports a wide range of platforms and developer tools on Azure; more than 80% of the world’s largest banks are Azure’s customers. Microsoft has a wide presence across the globe, covering the regions of North America, the Asia-Pacific, Europe, Latin America and the Middle East and Africa. It is one of the fortune 100 multinational companies, operating in over 100 countries in the world.
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