Market Overview
The need to enable more function in devices and machines are anticipated to motivate the deep learning market 2020. The information & communication technology industry reports are created by Market Research Future, which centers on market choices for expansion. A USD 17.40 billion revenue is expected to be created by the market by 2023.
The advance in technologies such as voice/speech recognition and natural language processing are projected to spur deep learning as a service market. The demand for humanoid robots is estimated to be another vital factor contributing to the development of the deep learning market.
Segmental Analysis
The segment examination of the deep learning market includes segments created on the basis of end-user, component, application, and region. The component basis of segmenting the deep learning market consists of hardware, which is further sub-segmented into memory, processor, and network, software which is further sub-segmented solution and platform and services which is sub-segmented into training, support & maintenance and installation. The segmentation of the deep learning market by application includes data mining, image recognition, signal recognition, and others. The end-user segment of the deep learning market consists of manufacturing, security, retail, media & entertainment, BFSI, healthcare, automotive, and agriculture. The regions of the deep learning market consist of Asia-Pacific, North America, Europe, and the rest of the regions.
Detailed Regional Analysis
The regional inquiry of the deep learning market includes regions such as Asia-Pacific, North America, Europe, and the rest of the regions. The developing implementation of deep learning technology for applications specifically of voice and image recognition, signal recognition, data mining, and diagnostics purpose in countries in the North American region such as the US, Canada, and Mexico are motivating the market development. The developing advance and penetration Japan, Australia, New Zealand, South Korea, and Taiwan in deep learning technology are rapidly boosting the market development in the Asia-Pacific region. Moreover, the implementation of deep learning technology by administrations in the European countries for fraud detection, surveillance, and data mining are also likely to incentivize the market development in the region.
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Competitive Analysis
The improved backing by government and trade bodies are creating a favorable pace of growth in the market. The control of overhead costs is projected to motivate the market considerably in the forecast period. The market is observed to be on a hot streak of expansion in the forecast period. The market players are expected to contribute in a significant way to the progress of the market by investing capital and fortifying their assets and competencies in the market to match the pulse of the market. The customer inclinations are projected to define the growth of the global market more than ever in the coming years. The intensive attention focused on research and development activities is projected to open up new areas for development of the market in the forecast period. The robust marketing activities undertaken by the contenders in the market are inspiring the next steps for market development in the forecast period.
The strategic companies in the deep learning market are Intel Corporation (USA), Baidu Inc (China), Samsung Electronics Co Ltd (South Korea), Facebook (USA), Sensory Inc. (USA), NVIDIA Corporation (USA), Amazon Inc. (USA), Xilinx Inc. (USA), Advanced Micro Devices Inc. (USA), Google LLC (USA), Mellanox Technologies (USA), Micron Technology (USA), Adapteva, Inc. (USA), Qualcomm Technologies Inc. (USA), IBM Corporation (USA), Tenstorrent (Canada), and Microsoft Corporation (USA).
Industry Updates:
Mar 2020 The scientists at MIT and Harvard’s Broad Institute and MIT’s CSAIL have built a deep learning network that can obtain a wide-ranging representation of molecular structure and thus discover novel antibiotics. The resultant compound, halicin, can be used to end a pathogen for which no cure has happened, and it potentially can even help in the battle against coronavirus.
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