Douglas - Isle of Man, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Douglas Insights has assessed all elements of the deep learning market and uncovered the changes in market trends due to the rising demand for data mining and image recognition for various solutions since the Covid-19 pandemic. The inclusion of deep learning market research reports in the Douglas Insights comparison engine will allow analysts, market researchers, businesses, and industry experts, to precisely recognize market trends, future forecasts, growth drivers, restraints, market limitations, and challenges.
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Market Overview
The global deep learning market is projected to expand exponentially in the coming years, with a whopping estimated compound annual growth rate (CAGR) of 39.1% from 2021 to 2030. The global decline in hardware costs, improvements in computing power, and widespread adoption of cloud technologies are all key drivers for this market. Moreover, the rise of big data adds to the growth of the global deep learning market due to its widespread applications in data mining and data analytics.
Image recognition is the largest application of deep learning (DL), with rising demand for facial recognition, pattern recognition, code recognition, object recognition, etc. However, the largest growth opportunities for the forecast period lie in the data mining segment. Its applications in advanced technologies like visual data mining and natural language are increasing deep learning demand across the globe.
In terms of market regions, North America holds the lead in the deep learning market, owing to its established IT infrastructure and growing IT investments. However, the Asia-Pacific offers the greatest growth opportunities for key market players during the forecast period. This is due to its rapid industrialisation, urbanisation, and growing populations. There is also a huge uptick in user-generated data and the number of skilled workers in this region. Market players can expect some excellent growth opportunities in the automotive, security, retail, healthcare, law, manufacturing, government, defence, fintech, and marketing industries.
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The Covid-19 pandemic has propelled the demand for deep learning solutions, mostly due to the growing demands for dynamic risk mitigation, fraud detection, anti-money laundering (AML) solutions, digital voice assistants, augmented reality (AR) applications, and virtual reality (VR) applications. There is also high demand from the business sector due to the rise in digital transformations and stringent data safety regulations from governments.
However, there are some restraints to the growth of the deep learning market. These include the lack of industry standards, protocols, technical expertise, and the rising complexity of deep learning hardware due to the complex algorithms employed for various solutions and applications.
Some of the key global players in the deep learning market include Advanced Micro Devices Inc., NVIDIA, Amazon Web Services (AWS) Inc., Intel Corporation, Xilinx, Samsung Electronics, Qualcom Technologies Inc., Micron Technology, IBM Corporation, Google LLC, and Microsoft Corporation. There are also a few key start-ups like Koniku, Adapteva, Graphcore, and Mythic that are primed to propel and benefit from the growth of the deep learning market during the forecast period.
The main applications for this market include data mining, image recognition, and signal recognition. On the other hand, DL solutions providers, DL platform providers, cloud service providers, system integrators, research organisations, semiconductor and chipset manufacturers, tech investors and providers, consulting companies, banks, and venture capitalists are some of the key target audiences in global regions for the deep learning market.
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Countries Covered in the report are as below:
- North America - United States, Canada, and Mexico
- Europe - United Kingdom, Germany, France, Italy, Russia, Spain & Rest of Europe
- Asia-Pacific - China, India, Japan, South Korea, Australia & Rest of APAC
- Latin America - Brazil, Argentina, Peru, Chile & Rest of Latin America
- Middle East and Africa - Saudi Arabia, UAE, Israel, South Africa
Market Segmentation in the report is as below-
By Solution
- Hardware
- Software
- Service
- Installation Services
- Integration Services
- Maintenance & Support Services
By Hardware
- Central Processing Unit (CPU)
- Graphics Processing Unit (GPU)
- Field Programmable Gate Array (FPGA)
- Application-Specific Integration Circuit (ASIC)
By Applications
- Image Recognition
- Voice Recognition
- Video Surveillance & Diagnostics
- Data Mining
By End-Use
- Automotive
- Aerospace & Defense
- Healthcare
- Manufacturing
- Others
Key questions answered in this report
- COVID 19 impact analysis on global Deep Learning industry.
- What are the current market trends and dynamics in the Deep Learning market and valuable opportunities for emerging players?
- What is driving Deep Learning market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Deep Learning market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Deep Learning and spending worldwide
- Recent trends across different regions in terms of adoption of Deep Learning across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
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