Global Deep Learning Market Size/Share Value Predicted to Surpass USD 1,727.24 Billion by 2032, With a CAGR of 42.87%: Polaris Market Research

New York, NY, June 22, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Deep Learning Market Share, Size, Trends, Industry Analysis Report, By Solution; By Hardware; By Application (Image Recognition, Voice Recognition); By End-use; By Region; Segment Forecast, 2023- 2032” in its research database.

“As per the latest research analysis, the global deep learning market size/share will be valued at roughly USD 51.00 Billion in 2022, and its revenue is projected to reach about USD 1,727.24 Billion by 2032. The market is forecasted to expand at a compound annual growth rate of approximately 42.87% between 2023 and 2032.”

What is Deep Learning? How Big is Deep Learning Market Size & Share?

• Overview

Deep learning is a technique in artificial intelligence (AI) that instructs computers to process information in a way inspired by the human brain. Its models can identify complex patterns in images, sounds, text, and other data types to generate precise analyses and forecasts. Deep learning techniques can be used to automate processes that ordinarily require human intellect, such as text-to-sound transcription or the description of photographs.

Moreover, deep learning technology drives many other AI applications utilized in day-to-day products, such as voice-activated TV remotes, digital assistants, automatic facial recognition, and fraud detection. It is also essential to appearing technologies such as virtual reality, self-driving cars, and more. Data scientists train computer files called deep learning models to carry out tasks using an algorithm or a predetermined series of steps. Deep learning is experiencing a sudden rise because of the advancements in data center abilities and computing power, resulting in an increased expansion in the deep learning market.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report Covers:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 110+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Requests.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of tables & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Advanced Micro Devices
• Amazon Web Services
• Google
• IBM Corporation
• Intel Corporation
• Microsoft
• NVIDIA Corporation
• Qualcomm Technologies
• Samsung
• Xilinx
• Advanced Micro Devices
• ARM
• Clarifai Inc.
• Entilic
• Google
• HyperVerge
• NVIDIA Corporation

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Prominent Growth Driving Factors

• Increased adoption of deep learning technology: The rising adoption of deep learning technology across markets like retail and finance is one of the major drivers because of the ability of deep learning algorithms to process huge amounts of data and recognize patterns. This allows enterprises to develop data-driven insights and projections that drive deep learning market growth.
• Hardware technology advancements: The availability of open-source deep learning frameworks and improvements in hardware technology have made it simpler and more affordable to deploy solutions. The global market is growing as a result of these developments.
• Increased demand for intelligent virtual assistants: The growing demand for intelligent chatbots and virtual assistants drives the market. Due to its ability to offer clients real-time personalized advice and help, these technologies are commonly used in marketing, customer service, and sales applications. The algorithms that run these technologies are constantly being improved, which makes them more precise and effective over time and drives the market's expansion.

Top Findings of the Report

• Deep learning can execute activities without human intervention, leading to more economical and effective solutions. The growth of unstructured data and cloud-based applications has recently increased the demand for deep learning solutions.
• The deep learning market segmentation is based on hardware, solution, application, region, and end-use.
• North America dominated the market and is expected to continue leading the market during the forecast period.

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Top Trends Influencing the Market

• High adoption rates for deep learning: High adoption rates in numerous industries have been attributed to big data analytics and the necessity to increase processing capacity. For instance, IBM released its most recent product, the IBM Watson Orchestrate platform, in April 2021. This advanced platform uses machine learning and natural language processing to automate various processes and workflows. It is intended to help businesses enhance productivity and operational efficiency by automating tedious, repetitive tasks.
• Developments and growing applications: The growth of the deep learning market demand has considerably benefited from the development of humanoid robots and the expanding use of deep learning in data mining, machine translation, and language translations.
• Improved accuracy and efficiency: Deep learning has been shown to enhance the effectiveness and accuracy of activities, including fraud detection, natural language processing, and image identification, making it a helpful tool for users and driving demand for the industry.

Segmental Analysis

• Software Sector Accounts for the Highest Revenue

Due to the increase in the number of software tools now available to developers and the resulting development of deep learning frameworks by businesses, the software segment generated the biggest amount of money. These frameworks accelerate deep neural network training, designing, and validation by utilizing powerful tools, libraries, and advanced programming techniques.

Additionally, using technologies like edge intelligence, machine comprehension, and ONNX architecture has improved the whole market experience for organizations and accelerated deep learning market growth.

• Image Recognition Holds the Largest Market Share

Because of its many applications, image recognition holds the largest market share. One of its main applications is stock photo and video websites, which makes it easier for users to find visual content. Additionally, visual searches increasingly use picture recognition to enable users to see identical products or pictures. Since technology help in medical diagnosis and treatment planning, it also benefits the medical sector.

Furthermore, image identification is utilized for facial recognition in security and surveillance, and businesses are utilizing it for picture detection in social media analysis to gather customer data. For instance, Facebook revealed the creation of SEER (Self-supervised), a deep learning solution that can train on its own from random collections of unlabeled internet photos, in March 2021.

• The Automotive Industry Accounts for the Greatest Revenue Share

Due to the rise of autonomous vehicles, the automotive industry accounted for a substantial revenue share in the market. As a result, there is an increasing demand for large processing power to enable efficient and dependable performance.

Deep Neural Networks (DNNs) are essential since they allow autonomous vehicles to complete various tasks quickly and without human assistance. The automotive industry is anticipated to contribute much more to the market as demand for autonomous vehicles grows.

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Deep Learning Market: Report Scope

Geographical Overview

North America: Due to the increased demand for incorporating deep learning into consumer-centric business solutions and the growing volume of data, North America holds a significant deep learning market share. Accepting image and pattern recognition in the area presents fresh growth prospects. Deep learning capabilities are adopted more quickly as North American businesses adopt advanced technologies quickly.

Europe: Due to several steps taken to help the artificial intelligence industry in the region, Europe has considerably benefited from the market's expansion. These actions have provided significant growth potential in deep learning while aiming to accelerate growth and create a digital economy. The assistance given by the region to the development of smart devices, autonomous vehicles, and cyber security has contributed to the market's quick expansion.

Browse the Detail Report “Deep Learning Market Share, Size, Trends, Industry Analysis Report, By Solution; By Hardware; By Application (Image Recognition, Voice Recognition); By End-use; By Region; Segment Forecast, 2023- 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/deep-learning-market         

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Recent Developments

• L&T Infotech and AWS signed a contract in June 2021. It introduced a cloud platform for IoT-related applications, data analytics, and SAP workloads.

The Report Answers Questions Such As

• What is the estimated deep learning market size and growth rate?
• What is the study period of the market?
• Which region holds the largest market share in the industry?
• What is the current market value of deep learning?
• Who are the prominent players in the deep learning market?
• What are the current trends and dynamics in the market?
• Which application has the largest market share?

Polaris Market Research has segmented the Deep Learning market report based on solution, hardware, application, end-use, and region:

By Solution Outlook

• Hardware
• Software
• Services

By Hardware Outlook

• Central Processing Unit (CPU)
• Graphics Processing Unit (GPU)
• Field Programmable Gate array (FPGA)
• Application-Specific Integration Circuit (ASIC)

By Application Outlook

• Image recognition
• Voice recognition
• Video surveillance & diagnostics
• Data mining

By End-use Outlook

• Automotive
• Aerospace & Defence
• Healthcare
• Retail
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to PMR’s customers.

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