DUBLIN--(BUSINESS WIRE)--The "Machine Learning Market to 2025 - Global Analysis and Forecasts by Services and Vertical" report has been added to ResearchAndMarkets.com's offering.
Machine Learning market is expected to grow to US$ 39.98 billion by 2025 from US$ 1.29 billion in 2016.
The machine learning market has gained a huge traction in the last two years in terms of both R&D and implementation. The technology has been embraced by many business leaders for various use cases of business that requires real time analytics with self-learning technology that too without being explicitly programmed. Machine learning has enormous potential in industries such as Retail, BFSI, manufacturing, and retail. For instance, BFSI vertical can use Machine Learning solutions to better identify insights in transaction data that help them manage risk and prevent fraud. Similarly, in retail, retailers can use machine learning solutions to designing tools that would provide recommendations to customers based on their purchase history.
The machine learning solution providers benefit higly with their proficiency in problem solving of a specific classes of business, and leveraging complex analytical algorithms coupled with huge amount of historical data. Furthermost, the cloud enables these service providers to scale the applications in most cost effective way.
North America hold the largest share of the total market. While APAC is expected to exhibit highest growth. Asia Pacific in coming years is projected to be the most promising market for machine learning, as the region comprises of some dramatically growing countries, which are highly supported by the government investments initiated towards the development of artificial intelligence technology, and also, subsequently promoting the adoption of cloud based services. Rest of the regions like Europe, South America and Middle East & Africa are expected to grow moderately throughout the forecast period.
Key Industry Dynamics
- Availability of Massive Amount of Data
- Demand for Superior Customer Service, Efficient Operations and Improve Sales Revenue
- Rising Concerns Regarding Data Security and Governance
- Lack of Cloud Infrastructure in Third World Countries
- Rising Adoption of Cloud-Based Machine Learning Computing
- Adoption of Robotic Process Automation
- Impact Analysis of Drivers and Restraints
- Amazon Web Services, Inc.
- Fair Isaac Corporation
- Google, Inc.
- Hewlett Packard Enterprise
- IBM Corporation
- Microsoft Corporation
- SAP SE
- BigML, Inc.
- SAS Institute Inc.
For more information about this report visit https://www.researchandmarkets.com/research/48bqwc/global_machine?w=4