Deep Learning Market

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MarketsandMarkets Research Private Ltd.
Presents
Deep Learning Market worth 18.16 Billion USD by
2023 with a growing CAGR of 41.7
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According to the latest market research report
"Deep Learning Market by Offering (Hardware,
Software, and Services), Application (Image
Recognition, Signal Recognition, Data Mining),
End-User Industry (Security, Marketing,
Healthcare, Fintech, Automotive, Law), and
Geography - Global Forecast to 2023", the deep
learning market, the overall deep learning market
is estimated to be valued at USD 3.18 Billion in
2018 and is expected to be worth USD 18.16
Billion by 2023, at a CAGR of 41.7 from 2018 to
2023. Improving computing power, declining
hardware cost, and the increasing adoption of
cloud-based technology are fueling the growth of
the deep learning market. Usage in big data
analytics and growing AI adoption in
customer-centric services are the other key
factors driving this market. Browse gtgt
68 Market data tables
52 figures 210 pages and
in-depth TOC on Deep Learning Market
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Software to hold largest market share from 2018
to 2023 Software currently holds the largest
market share, while the market for services is
expected to grow at the highest CAGR between 2018
and 2023. The software segment consists of
software frameworks and platforms/APIs developed
using algorithms and codes that enable hardware
to carry out deep learning programs.
Manufacturers and software providers offer
different solutions (frameworks/software
development kits (SDKs)) and APIs/platforms that
are open to developers working on deep learning
programs. For example, Qualcomm offers Zeroth
SDK, which helps users and developers use
Snapdragon 820 capabilities for deep learning
applications such as image and sound processing,
including speech recognition. The hardware
segment consists of processor chips used for
running deep learning algorithms based on
neuromorphic architecture and/or von Neumann
architecture. Deep learning market for data
mining to grow at highest CAGR from 2018 to
2023 Data mining abstracts related data from
files, such as image, video, and audio. With the
advent of new technologies, natural language
processing and visual data mining have been
developed using deep learning techniques. Data
mining is used in the following applications
sentiment analysis, machine translation,
fingerprint identification, cybersecurity, and
bioinformatics. Deep learning offers faster and
better memory utilization than traditional
computing systems. As data mining is a complex
operation, it requires complex hardware
architecture and algorithms to perform
computational functions, along with service and
maintenance of systems. Thus, the demand for
services in data mining is expected to grow
significantly between 2018 and 2023.
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Security to account for largest market size among
other end-user industries between 2018 and
2023 Deep learning- and AI-based systems are
being significantly used in antivirus and
antimalware solutions owing to the rise in
cybersecurity attacks across the world. The
increasing use of mobile devices for a wide range
of applications, such as social networking,
emails, remote monitoring, phone banking, and
data storage, opens doors for hackers to attack,
thereby making networks more vulnerable to risks.
The rapid adoption of cloud-based services, along
with the user-friendly approach of
antivirus/antimalware solutions, is contributing
to the growth of this application in the deep
learning market for security. The adoption of DL
technologies for encryption is likely to witness
growth in the coming years. North America to
lead deep learning market in terms of market
size North America accounts for a substantial
share of the deep learning market, with the US
being the major contributor. The increasing
adoption of deep learning technology in various
end-user industries, such as security, marketing,
healthcare, fintech, automotive, law, retail,
agriculture, and manufacturing, and the strong
presence of industry giants and emerging deep
learning companies/start-ups in the region are
the key factors supporting the growth of the deep
learning market in North America. Companies that
are profiled in this report are NVIDIA (US),
Intel (US), Xilinx (US), Samsung Electronics
(South Korea), Micron Technology (US), Qualcomm
(US), IBM (US), Google (US), Microsoft (US), and
AWS (US). Some of the key start-ups included in
this report are Graphcore (UK), Mythic (US),
Adapteva (US), and Koniku (US).
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