Market Insights
The deep learning market was estimated at USD 42.6 billion in 2022 and is likely to grow at a CAGR of 34.19% during 2023-2028 to reach USD 255.75 billion in 2028.
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Market Dynamics
Introduction
Learning is a subcategory of machine learning that deals with teaching computers about basic human instincts. Furthermore, with the help of deep learning, a computer algorithm learns to perform classification tasks by directly analyzing complex data in the form of images, text, or sound. Furthermore, deep learning enables end users to create algorithms that achieve state-of-the-art (SOTA) accuracy, which is greater than human-level performance.
COVID-19 Impact
The pandemic of COVID-19 has had a significant impact on countries' health, financial, and social systems. Individuals can benefit from understanding and coping with their mental, psychological, and social well-being if individual-level susceptibility factors are known. The use of artificial intelligence technology is likely to aid in the fight against the COVID-19 pandemic. Several countries are tracking and tracing COVID-19 cases using population surveillance methods.
Market Drivers
The deep learning market is growing as computing power improves, hardware costs fall, and cloud-based technology adoption rises. Furthermore, the use of deep learning in big data analytics has a positive impact on market growth. However, increasing hardware complexity due to complex algorithms used in technology, as well as a lack of technical expertise and the absence of standards and protocols, are impeding market growth. On the contrary, cumulative spending in the healthcare, travel, tourism, and hospitality industries is expected to provide profitable opportunities for market expansion during the forecast period.
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Key Players
The key players operating in the market are-
- NVIDIA (US)
- Intel (US)
- Xilinx (US)
- Samsung Electronics (South Korea)
- Micron Technology (US)
- Qualcomm (US)
- IBM (US)
- Google (US)
- Microsoft (US)
- AWS (US).
Note: The above list does not necessarily include all the top players in the market.
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Segment’s Analysis
Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Application Type Analysis
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Copper, Low-Carbon, and Others
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The Image recognition segment held a significant market share in 2022.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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North American market held the highest market share in 2022 and is projected to grow at the fastest CAGR in the coming years.
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By Application Type
Based on Application, the deep learning market has been classified into Image recognition, Signal recognition, Data mining, and others. Under these, the Image recognition segment held a significant market share in 2022. This is due to an increase in the demand for pattern recognition, optical character recognition, code recognition, facial recognition, object recognition, and digital image processing.
Regional Insights
By region, the North American market held the highest market share in 2022 and is projected to grow at the fastest CAGR in the coming years. The presence of major R&D investors such as IBM Corporation, Amazon.com, and Oracle Corporation expands the regional market size. Furthermore, the availability of established IT infrastructure and high investments are expected to drive market growth in North America. For example, the United States' Defense Advanced Research Projects Agency (DARPA) invested USD 2 billion to develop AI technologies such as machine learning (ML), among others.
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Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s deep learning market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Segmentation
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The deep learning market is segmented into the following categories:
By Component Type
- Hardware
- Software
- Service
By Application Type
- Image recognition
- Signal recognition
- Data mining
- others
By Industry Vertical Type
- Security
- Marketing
- Automotive
- Retail & E-Commerce
- Healthcare
- Manufacturing,
- Law
- Others
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, Italy, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, South Korea, Taiwan, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, South Africa, Saudi Arabia, and Others)
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Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the application types by component type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.