According to the latest report by IMARC Group, titled “Deep Learning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global deep learning market size reached US$ 12 Billion in 2021. Deep learning is a subset of machine learning (ML) in the field of artificial intelligence (AI), which imitates the workings of the human brain for processing big data and creating patterns. Also known as a deep neural network, it plays a vital role in data science, which includes statistics and predictive modeling. As a result, deep learning is widely employed in different industries, such as media, finance, medical, aerospace, defense and advertising, across the globe. For instance, it is used in driverless cars for recognizing a stop sign or distinguishing pedestrians from lampposts. Besides this, it assists in controlling consumer devices like tablets, smartphones, televisions and hands-free speakers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Deep Learning Market Trends:
The market is currently experiencing growth owing to the expanding applications of deep learning solutions in cybersecurity, database management and fraud detection systems. Additionally, they are employed in the healthcare sector to process medical images for disease diagnosis and offer virtual patient assistance, which in turn is strengthening the market growth. Apart from this, the burgeoning information technology (IT) sector, in confluence with the increasing trend of digitalization, is boosting the sales of deep learning solutions across the globe. Furthermore, the integration of these solutions with big data analytics and cloud computing is bolstering the market growth. Moreover, leading vendors in the industry are focusing on increasing research and development (R&D) activities to introduce improved hardware and software processing technologies for deep learning. Looking forward, the market value is projected to expand at a CAGR of 39.8% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into software, services and hardware segments.
- On the basis of the application, the market has been segregated into image recognition, signal recognition, data mining and others.
- The market has been analyzed on the basis of the end-use industry into security, manufacturing, retail, automotive, healthcare, agriculture and others.
- Based on the architecture, the market has been divided into RNN, CNN, DBN, DSN and GRU.
- Region-wise, the market has been classified into Middle East and Africa, North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (United Kingdom, Germany, France, Italy, Spain, Russia and others) and Latin America (Brazil, Mexico and others).
- The competitive landscape of the market has been examined, with some of the key players being Amazon Web Services, Google Inc., International Business Machines (IBM), Intel, Micron Technology, Microsoft Corporation, Nvidia, Qualcomm, Samsung Electronics, Sensory Inc., Pathmind, Inc. and Xilinx.
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