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The global deep learning market exhibited robust growth during 2015-2020. Deep learning, or deep structured learning, is a division of machine learning that uses layered algorithmic models for analyzing data. It is a crucial component of data science, which uses statistics and predictive modeling for collecting, analyzing and interpreting large amounts of information. It also involves the use of artificial intelligence (AI) to imitate the functioning of the human brain while processing data, forming patterns and making decisions. This technology is commonly used in image recognition tools, natural language processing (NLP) and speech recognition software, self-driving vehicles and language translation services and finds extensive applications across the retail, healthcare, automotive, agriculture, security and manufacturing industries.
The expanding information technology (IT) industry, along with the rising trend of digitalization, is one of the key factors driving the growth of the market. In comparison to the traditionally used computing systems, deep learning algorithms can automatically intercept available data points, which enhances the efficiency and accuracy of the decision-making process. Furthermore, deep learning solutions are widely employed for cybersecurity, database management and fraud detection systems. They are also utilized for processing medical images for disease diagnosis and drug discovery and offering virtual patient assistance in the healthcare sector, which is contributing to the widespread adoption of the technology. Other factors, including its integration with big data analytics and cloud computing, along with extensive research and development (R&D) activities to develop improved hardware and software processing solutions for deep learning, are projected to drive the market in the coming years. Looking forward, IMARC Group expects the global deep learning market to grow at a CAGR of around 40% during 2021-2026.
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The report has also analysed the competitive landscape of the market with some of the key players being Amazon Web Services (AWS), Google Inc., IBM, Intel, Micron Technology, Microsoft Corporation, Nvidia, Qualcomm, Samsung Electronics, Sensory Inc., Pathmind, Inc., Xilinx, etc.
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