Deep Learning Market Global Industry Analysis, Size Estimation, Share, Business Growth, Demand, Trends And Report 2024

The deep learning market size has grown exponentially in recent years. It will grow from $17.97 billion in 2023 to $25.15 billion in 2024 at a compound annual growth rate (CAGR) of 40.0%. The growth in the historic period can be attributed to global investments and funding, adoption in autonomous systems, focus on explainability and interpretability, emergence of generative models, growth of edge computing.

The deep learning market size is expected to see exponential growth in the next few years. It will grow to $100.02 billion in 2028 at a compound annual growth rate (CAGR) of 41.2%. The growth in the forecast period can be attributed to global economic and geopolitical factors, security and robustness improvements, hybrid and federated learning approaches, expansion into new industry verticals, increasing adoption in healthcare. Major trends in the forecast period include augmentation of human abilities, quantum computing for deep learning, cross-industry collaborations and open source contributions, hybrid cloud and multi-cloud deployments, enhanced computer vision applications, responsible ai and ethical considerations.

Market Overview -
Deep learning refers to a system with a collection of machine learning algorithms that models high-level abstractions in data through an architecture consisting of multiple non-linear transformations, carries out engineering activities on their own, processes a huge volume of unstructured data, and offers precise results compared to traditional machine learning. Deep

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Cloud-Based Services Drive The Growth Of The Deep Learning Market
Increasing adoption of cloud-based services is significantly contributing to the growth of the deep learning market. Cloud-based services have advanced significantly, to the point that they can now provide enterprises with the ability to run their whole business through their cloud-based platforms. As a result, businesses are increasingly convinced that transferring their tasks from on-premises to cloud-based frameworks. For instance, according to a report by Harvard Business Review Analytic Services on cloud computing, over 74% of organizations believe that cloud computing gives them a competitive advantage over their competitors. Therefore, the increasing adoption of cloud-based services is expected to increase the demand for the deep learning market during the forecast period.

Competitive Landscape -
Major companies operating in the deep learning market report are Amazon Web Services Inc., Google LLC, IBM Corporation, Intel Corporation, Micron Technology, NVIDIA Corporation, Advanced Micro Devices Inc., Wave Computing Inc., Cerebras Systems Inc., Mythic, Sensory Inc., H2O. ai, KNIME (Konstanz Information Miner), Dataiku, Databricks Inc., Veritone Inc., DataRobot Inc., SoundHound AI, Unity Technologies, Interactions LLC, Convoy Inc., Heartflow Inc., Imandra Inc., MindsDB SF AI Learning, Neteera Technologies, Clarifai Inc., Orbital Insight, Eko India Financial Services Pvt. Ltd., CHARM Therapeutics, NoTraffic U. S. Inc.

The Rise Of Edge Intelligence In Deep Learning
Increased use of edge intelligence has emerged as a popular trend in the deep learning market. Edge intelligence, also known as edge Artificial Intelligence (AI), is a blend of AI and edge computing that allows machine learning algorithms to be deployed to the edge device where data is generated. Edge intelligence could give AI to any person or organization, at any time and in any location. For instance, according to the Swiss-based AI tech company, viso.ai by 2025, 80 billion IoT devices and sensors will be online, with over 50 billion connected to the internet, and according to Cisco's Global Cloud Index by 2021, approximately 850 Zettabytes (ZB) of data will be generated annually outside the cloud, compared to only 20.6 ZB for worldwide data center traffic.

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Key Segments -
The deep learning market covered in this report is segmented -
1) By Product: Hardware, Software, Services
2) By Application: Image Recognition, Signal Recognition, Data Mining
3) By End User: BFSI, Automotive, Telecom and Media, Retail, Manufacturing, Healthcare, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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