BOULDER, Colo.--(BUSINESS WIRE)--Deep learning, a computing construct based loosely on the architecture of the human brain, has emerged as one of the most promising enabling technologies in the world of artificial intelligence (AI). Although many of the concepts underlying AI and technological biomimicry of human intelligence are over 50 years old, deep learning’s growth today is the result of a rather sudden convergence of three key trends: big, even colossal, data generation; advancements in hardware capabilities; and improvements in algorithms. According to a new report from Tractica, deep learning has been commercialized into more than 100 distinct use cases to date, touching virtually every industry.
Tractica forecasts that deep learning software revenue will grow from $655 million in 2016 to $34.9 million worldwide by 2025. The market intelligence firm anticipates that the top 10 use cases for deep learning, in terms of revenue, will be as follows:
- Static image recognition, classification, and tagging
- Machine/vehicular object detection/identification/avoidance
- Patient data processing
- Algorithmic trading strategy performance improvement
- Converting paperwork into digital data
- Medical image analysis
- Localization and mapping
- Sentiment analysis
- Social media publishing and management
- Intelligent recruitment and HR systems
“Businesses around the world are beginning to harness deep learning due to its ability to drive efficiencies in the form of speed, accuracy, agility, and access in several key areas,” says principal analyst Jessica Groopman. “These areas include product development and improvement, process optimization and functional workflows, personalization and customer insight, sales optimization, and innovation and long-range strategy.”
Tractica’s report, “Deep Learning”, examines the practical application of deep learning within consumer, enterprise, and government markets. The report provides strategic analysis and market forecasts for 112 deep learning use cases within 28 industry sectors, including an assessment of benefits and implementation considerations along with a quantification of the market opportunity for each use case. Market forecasts include deep learning software, hardware, and services revenue, segmented by world region, for the period from 2016 through 2025. The report also includes profiles of 26 key players within the evolving deep learning market ecosystem. An Executive Summary of the report is available for free download on the firm’s website.
Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Wearable Devices, and Digital Health. For more information, visit www.tractica.com or call +1.303.248.3000.