Pune, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Machine Learning Market Size Analysis:
“The Machine Learning Market was valued at USD 42.23 Billion in 2023 and is projected to reach USD 666.16 Billion by 2032, growing at a compound annual growth rate (CAGR) of 35.93% from 2024 to 2032.”
Get a Sample Report of Machine Learning Market@ https://www.snsinsider.com/sample-request/2206
Major Players Analysis Listed in this Report are:
- Google Inc. (TensorFlow, Google Cloud AI Platform)
- Amazon (Amazon SageMaker, AWS Deep Learning AMIs)
- Intel Corporation (OpenVINO Toolkit, Intel AI Analytics Toolkit)
- Facebook Inc. (PyTorch, Deepfake Detection Challenge Tools)
- Microsoft Corporation (Azure Machine Learning, Microsoft Cognitive Toolkit (CNTK))
- IBM Corporation (IBM Watson Studio, IBM Watson Machine Learning)
- Wipro Limited (HOLMES AI Platform, Data Discovery Platform)
- Nuance Communications (Dragon Speech Recognition, Nuance Mix AI Tooling)
- Apple Inc. (Core ML, Create ML)
- Cisco Systems (Cisco AI Endpoint Analytics, Cisco DNA Spaces AI)
- Amazon Web Services (AWS) (AWS SageMaker, AWS Personalize)
- Baidu Inc. (PaddlePaddle, Baidu AI Cloud)
- H2O.AI (H2O Driverless AI, H2O-3)
- Hewlett Packard Enterprise Development LP (HPE Ezmeral ML Ops, HPE InfoSight)
- SAS Institute Inc. (SAS Visual Data Mining and Machine Learning, SAS Viya)
- SAP SE (SAP Data Intelligence, SAP Predictive Analytics)
- NVIDIA Corporation (CUDA, NVIDIA Deep Learning AI)
- Oracle Corporation (Oracle AI Platform, Oracle Cloud Infrastructure AI)
- Salesforce (Einstein Analytics, Salesforce AI Research)
- Accenture (myConcerto, Accenture AI Platform)
- Alibaba Group (Alibaba Cloud Machine Learning Platform, Aliyun AI)
- Qualcomm Incorporated (AI Engine, Qualcomm Neural Processing SDK)
Machine Learning Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 42.24 billion |
| Market Size by 2032 | USD 666.16 billion |
| CAGR | CAGR of 35.93% from 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Growing Demand for Automation and Efficiency Through Machine Learning in Business Operations • Enhanced Access to Machine Learning Through Improved Tools and Frameworks |
Do you have any specific queries or need any customization research on Machine Learning Market, Make an Enquiry Now@ https://www.snsinsider.com/enquiry/2206
The Rapid Expansion and Future Potential of Machine Learning Market in Real-Time Applications
The machine Learning (ML) market is expanding rapidly as organizations across industries increasingly integrate advanced technologies into their operations. This growth is driven by a surge in global data creation, forecasted to reach 149 zettabytes in 2024, and a growing recognition of ML's potential to drive efficiency and innovation. With 75% of generative AI users aiming to automate tasks and enhance communication, businesses are leveraging ML to solve complex challenges, optimize operations, and improve decision-making. In industries like healthcare, manufacturing, and logistics, ML applications are revolutionizing processes, from predictive analytics in healthcare to supply chain optimizations and predictive maintenance in manufacturing.
As edge computing and 5G technologies continue to evolve, the future potential for ML in real-time data processing is vast. With 5G coverage reaching 51% of the global population by 2024, and 46% of organizations already implementing AI governance frameworks, ML will enhance decision-making with reduced latency and greater transparency. Industries, especially healthcare and finance, will demand more explainable models, further driving innovation and transforming business operations.
By Enterprise Size, Large Enterprises Lead, While SMEs Drive Rapid Growth
In 2023, Large Enterprises led the machine learning market, capturing around 69% of the total revenue share. This is due to their substantial financial resources, infrastructure, and access to vast data, which enhance the effectiveness of ML models. These enterprises are increasingly using ML to drive automation and data-driven decision-making, maintaining their competitive edge.
The Small and Medium Enterprise (SME) segment is set to experience the fastest growth, with a projected CAGR of 38.04% from 2024 to 2032. This growth is driven by the rise of affordable cloud-based ML solutions and user-friendly platforms, enabling SMEs to adopt ML without significant upfront costs. This allows them to optimize operations, improve customer experiences, and stay competitive.
By Component, Services Lead and Software Segment Shows Strong Growth
In 2023, the Services segment dominated the machine learning market with a 52% revenue share. This growth is fueled by the increasing need for tailored ML solutions, including consulting, implementation, and ongoing support. As organizations scale their AI efforts, expert services play a critical role in ensuring smooth integration and optimization of ML systems.
The Software segment is expected to grow at the fastest CAGR of 37.06% from 2024 to 2032. This rapid growth is driven by the increasing demand for ML-powered software tools that automate tasks, enhance data analytics, and spur innovation. The development of user-friendly, scalable ML platforms will drive broader adoption and accelerate growth in this segment.
By Deployment, Cloud Segment Dominates and Drives Rapid Growth
In 2023, the Cloud segment led the machine learning market, holding a substantial revenue share of around 74%, and is expected to grow at a robust CAGR of 36.99% from 2024 to 2032. The Cloud’s scalability, flexibility, and cost-effectiveness allow businesses to adopt machine learning without the need for extensive on-premise infrastructure. Offering easy access to powerful computing resources, advanced algorithms, and ample data storage, Cloud platforms are key to the growing adoption of ML. As organizations seek faster implementation and lower costs, the demand for real-time analytics and AI-driven insights further accelerates the Cloud segment’s growth.
Machine Learning Market Segmentation:
By Component
- Hardware
- Software
- Services
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprise
By Deployment
- Cloud
- On-Premises
By End-user
- Healthcare and Life Sciences
- BFSI
- Retail and E-commerce
- Manufacturing and Supply Chain
- Information Technology and Telecommunications
Buy an Enterprise-User PDF of Machine Learning Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/checkout/2206
North America Leads in Machine Learning Market, While Asia Pacific Shows Rapid Growth
In 2023, North America dominated the machine learning market, holding approximately 35% of the total revenue share. This leadership is driven by the region’s advanced technological infrastructure, significant AI research investments, and a concentration of major tech companies. The presence of key players across industries like healthcare, finance, and manufacturing has accelerated ML adoption, enhancing business innovation and efficiency.
The Asia Pacific region is poised for the fastest growth in the machine learning market, with a projected CAGR of 39.52% from 2024 to 2032. This growth is fueled by increasing digitalization, government support for AI, and a thriving startup ecosystem in countries like China, India, and Japan. As businesses in the region adopt ML technologies, the focus on innovation and competitiveness is driving significant market expansion.
Key Developments in Machine Learning Market
- In October 2024, Google launched Gemini 1.5 and introduced updates to its language models, enhancing efficiency, security, and scalability across applications.
- In December 2024, Amazon announced a USD 110 million investment in the "Build on Trainium" research program to advance generative AI.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Machine Learning Market Segmentation, By Component
8. Machine Learning Market Segmentation, By Enterprise Size
9. Machine Learning Market Segmentation, By End-user
10. Machine Learning Market Segmentation, By Deployment
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
Access Complete Report Details of Machine Learning Market Analysis Report 2024-2032@ https://www.snsinsider.com/reports/machine-learning-market-2206
[For more information or need any customization research mail us at info@snsinsider.com]
SNS Insider Offering/ Consulting Services:
Go To Market Assessment Service
Total Addressable Market (TAM) Assessment
Competitive Benchmarking and Market Share Gain
Buying Options
- 5 Reports Pack (USD 7500)
- 10 Report Pack (USD 12000)
- Vertical Subscription (150 Reports Pack Valid for 1 Year)
Use this link to Purchase above packs @ https://www.snsinsider.com/subscription
SNS Insider
SNS Insider is a market research company that delivers evidence based strategies for clients seeking growth.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
