NEW YORK, Jan. 11, 2022 /PRNewswire/ — 43% of the growth will originate from North America for the deep learning market. The US is the key market for deep learning market in North America. Market growth in this region will be faster than the growth of the market in the rest of the regions. The increase in implementation and use of deep learning in various industrial applications will facilitate the deep learning market growth in North America over the forecast period. The deep learning market is expected to grow by USD 6.41 billion from 2020 to 2025 and the market is expected to grow at a CAGR of 24.57% as per the latest market report by Technavio.
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Deep Learning Market – DriverThe significant rise in the entry of startups is one of the key factors driving the deep learning market growth. With an increase in funding through various global investors, the global deep learning market has witnessed an intrusion of startups in recent years. The major startup sector that offers global deep learning is healthcare, which is focused on drug research and development. Other areas of application in deep learning are visual recognition, fraud detection, insurance, and agriculture. This gives opportunities to vendors to increase their market shares and attract customers from a wide range of industries. Thus, the rise in startups and deep learning applications in various industries is expected to drive market growth globally during the forecast period.
Deep Learning Market – ChallengeOne of the major challenges for deep learning market growth is the lack of technical expertise. In comparison to traditional data analysis, deep learning demands a completely different set of technical skills and expertise. There is a limited number of specialists to provide the required expertise in business problems and organizations that have budget constraints have to shy away from hiring the right talent to fulfill the needs. Moreover, it is time-consuming for organizations to find well-trained professionals with appropriate skill sets. Thus, due to the shortage of expertise is limiting the implementation of deep learning models restricting the market growth of the global deep learning market during the forecast period.
Some of the key Deep Learning Players:The deep learning market is fragmented and the vendors are deploying growth strategies such as launching new deep-learning launches, collaborating, and organizing expansions to compete in the market.
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Deep Learning Market Type Outlook (Revenue, USD bn, 2020-2025)
- Software – size and forecast 2020-2025
- Services – size and forecast 2020-2025
- Hardware – size and forecast 2020-2025
Deep Learning Market Geography Outlook (Revenue, USD bn, 2020-2025)
- North America – size and forecast 2020-2025
- Europe – size and forecast 2020-2025
- APAC – size and forecast 2020-2025
- South America – size and forecast 2020-2025
- MEA – size and forecast 2020-2025
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Deep Learning Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 24.57%
Market growth 2021-2025
USD 6.41 billion
Market structure
Fragmented
YoY growth (%)
23.45
Regional analysis
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 43%
Key consumer countries
US, UK, Germany, China, and Japan
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactsTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/
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SOURCE Technavio
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