Global Machine Learning Market Poised to Exhibit Catalyze Growth Rate over 2022

Pune, India, May 2021 /MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Machine Learning Market.

Overview
 
The machine learning market will witness a healthy growth from 2018 to 2024, a research report suggests. Growing at a CAGR of 42.08%, the market is projected to reach a higher valuation by 2024. The growing adoption of cloud-based services is expected to support the market growth along with the increasing demand for machine learning solutions. As predicted by analysts, lack of technical expertise will negatively affect the market’s performance from 2018 to 2024. During the forecast period, the market will be supported by increase in unstructured data and consumers aiming for more convenience. The lack of developed infrastructure on the other hand will challenge artificial intelligence sector based organizations functioning in the global machine learning market.
 
Analysts have split the market into component, organization size, and vertical segments based on products and services. Artificial intelligence based companies have been profiled. The lack of investments in research and development is set to affect the global market during the forecast period 2018 to 2024. The report also provides the market’s performance forecasts till 2024. Analysts have studied the strategy of artificial intelligence segment based organizations to help new entrants and established businesses. The artificial intelligence sector itself is supported by technological advancements as well as the increasing awareness among consumers. During the forecast period 2018 to 2024, the machine learning market is set to witness a health growth across component, organization size, and vertical segments as well as regional markets.
 
Market Segmentation
 
The artificial intelligence sector has seen growth across component, organization size, and vertical segments owing to favorable policies across regional markets and the surging usage across different industries. To study the market, analysts have further segmented component, organization size, and vertical into hardware, software and services on the basis of component. The market is further segmented into an organization size sub segment which is split into automotive, BFSI, education, government & defense, healthcare, media & entertainment, retail & ecommerce, telecommunication, and others. Additionally, the machine learning market on the basis of vertical is segmented into large enterprises, and small & medium sized enterprises.
 
The segmental analysis presented in the report provides artificial intelligence field based organizations insights into key growth factors such as the rising industrialization as well as challenges such as the lack of demand from developing countries the market will face from 2018 to 2024. The increasing disposable income and increasing awareness levels are some of the key factors having an influence on artificial intelligence industry based companies, suggest analysts as per the machine learning market report. But the report also identifies growing concerns regarding high cost and the lack of effective communication as major threats companies in artificial intelligence will face till 2024. 
  
Regional Overview
 
Artificial intelligence market based companies in the machine learning market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The presence of effective communication will be a key growth driver for regional markets. However, the increasing demand for highly skilled professionals will turn out to be a threat. For the forecast period 2018 to 2024 each of these regional markets are studied in the report. Starting from North America, the regional market and artificial intelligence vertical based companies are spread across the United States, Canada, and Mexico. The low demand from developing countries will turn out to be a major challenge from 2018 to 2024. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing demand from various industry verticals as well as the presence of untapped market opportunities, suggests the report. Similarly, the artificial intelligence sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the machine learning market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2024.
 
Competitive Landscape
 
The global machine learning market research report brings a comprehensive study of component, organization size, and vertical market segments, regional analysis, and artificial intelligence vertical based company details of key players. As the forecast period 2018 to 2024 will bring new opportunities for the market owing to high demand across industry verticals and technological advancements, the market is set to grow at a compound annual growth rate of 42.08% and is predicted to reach a higher valuation by 2024. With SWOT analysis of artificial intelligence sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as low research and development budgets and high initial investments, companies in the artificial intelligence sector can change the way business is done.
 
Industry News
 
Intel continues to acquire startups to expand its computer learning and artificial intelligence activities. The chip giant has purchased Cnvrg.io, an Israeli company that has developed and runs a network for data scientists to develop and run machine learning models, which can be used to train and monitor various models, compare them, build suggestions, and more, according to TechCrunch. Intel recently made another acquisition to bolster its AI market, this time in the machine learning modelling space: it acquired SigOpt, a company that had created an optimization tool for running machine learning modelling and simulations.