Deep Learning Market Research Report – Forecast to 2030

Global Deep Learning Market Research Report: By Component (Hardware, Software, Services), By Application (Image Recognition, Data Mining, Signal Recognition), By End User (Security, Manufacturing, BFSI, Healthcare, Agriculture) - Forecast till 2030

ID: MRFR/ICT/4600-CR | February 2020 | Region: Global | 177 Pages         

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Deep Learning Market

The Deep Learning Market Size will grow to USD 165.79 Billion with a CAGR of almost 28.93%. During the forecast period 2022-2030.
Market Size
CAGR
Dominating Region
Forecast Period
$ 165.79 Billion
28.93%
North America
2022-2030
Segmentation
By Component
By Application
By End User
  • Hardware
  • Software
  • Services
  • Image Recognition
  • Data Mining
  • Signal Recognition
  • Security
  • Manufacturing
  • BFSI
  • Healthcare
  • Agriculture
Companies Profiled
Key Players
Google LLC (USA)
Qualcomm Technologies Inc. (USA)
Mellanox Technologies (USA)
Xilinx Inc. (USA)
Adapteva
Inc. (USA)
and NVIDIA Corporation (USA)
Market Driving Forces
Drivers
These applications are- signal recognition
data mining
and image recognition.
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Deep Learning Market Overview:The market size of deep learning is going larger every day at a rapid speed. Voice recognition application such as Apple Siri, Amazon's Alexa and the increasing demand in deep learning is the main driving force behind the Deep Learning Market Growth. The main attributes of the market are the large-scale adoption in services of cloud-base and increasing unstructured data. Additionally, models for image recognition, speech recognition, language translation, data mining also drive the growth of the market. Deep learning market will increase during the forecast period at a CAGR of nearly 28.93%. During that period, the revenue from the deep learning market will be $165.79 billion. The increasing numbers in adopting digital voice assistance and start-ups focusing on virtual reality and augmented technologies have a great influence on the growth of the market. Additionally, the growing healthcare sectors all across the world are also expected to become a major contribution behind the market growth. Also, growth and development in chatbots, deep learning technology, increasing investments in R&D act as a push in the market growth.



  • October 2022 — MIT researchers have invented a technique for computing directly on smart home devices that radically lowered the latency that may lead to these devices being delayed in responding to a command or an answer to a question. One reason for this delay is that the connected devices don’t have sufficient power or memory to run or store the massive machine-learning models required for the device to understand a question. As a substitute, the question is sent to a data center that can be at a remote distance, where an answer is computed and sent back to the device. The team of researchers shifted the memory-intensive steps of running a machine learning model to the central server, where components of the model are encrypted onto lightwaves. The waves are transferred to a connected device using fiber optics that allow massive quantities of data to be sent at high speeds over the network. The receiver then uses a simple optical device that quickly computes the parts of a model carried by those lightwaves. The method caused more than a hundredfold development in energy efficiency compared to other techniques. It could also enhance security, as the user’s data does not require to be transferred to a central location for computation.


Deep Learning Market Covid-19 Analysis:the covid-19 development has changed the entire state of the world, including the industry scenarios. The pandemic forced businesses across the world to go through unprecedented changes. The industry scenario is mixed as some industries are flourishing and some are battling. But in short, almost all segments have faced difficulties more or less by the covid-19 pandemic. Although, the deep learning industry is trying hard and growing rapidly now. It is expected that the industry will go through its highest growth in the forecast period.

  • October 2022- IBM Research has disclosed plans to develop a model chip specialized for artificial intelligence (AI). The chip that IBM has named Artificial Intelligence Unit (AIU) indicates the first complete system on a chip from the IBM Research AI Hardware Centre. IBM’s plan, built on research from 2019, is to lower the complexity of the chips used for AI processing. The researchers stated the high precision and flexibility of general-purpose computing processors (CPUs) have made these chips well-matched for general-purpose software applications. Still, it also puts them at the difficulty in training and running deep learning models that need massively parallel AI operations.


Market Dynamic:Based on the report of Deep Learning Market Forecast, the manufacturing industry is supposed to grow highest with the highest level of CAGR during the forecast period. Deep learning technology is applied in machine vision systems, industrial robots, and many other processes. This technology is used in the improvement of product quality, cycle time minimization, efficiency increasing in the whole manufacturing. Also, the key players are investing in deep learning technology in the healthcare and finance industries which is creating many  Deep Learning Market Opportunities.Drivers:The increase in Deep Learning research applications is acting as the main driving force behind the growth of Deep Learning Market Demand.  These applications are- signal recognition, data mining, and image recognition. 


Restrains:The major restrain in this market is the lack of protocols, standards, technical expertise. Also, due to complicated algorithms, huge complex changes are going through the hardware, only making it complex every day. 


Challenges:Some of the basic challenges which might create havoc in the market for deep learning are the Quality of data, the issues related to talent gaps, Data security measures & AI (Production grade).


Out of the mentioned challenges, quality of data remains to be one of the biggest factors as models like deep learning need a lot of quality data. This is very much required for processes like image recognition; without accurate and adequate data, it becomes a fairly uphill task for the deep learning model to reach the next stage and ensure a greater grasp in the market.


Cumulative Growth Analysis:With a great scope in the future, the deep learning model will be able to learn with little or almost no help from human beings. What is more interesting is the fact that they are very much flexible and adaptive to different kinds of environments as well. Deep learning processes will definitely create a great impact in dealing with problems related to cognitive and reflexive issues.


With so many of promising scopes, the global market size of deep learning is going larger every day at a rapid speed. Voice recognition application such as Apple Siri, Amazon's Alexa and the increasing demand in deep learning is the main driving force behind the Deep Learning Market Growth. The main attributes of the market are the large-scale adoption in services of cloud-base and increasing unstructured data.


Deep Learning Market Segment Overview:The market of deep learning is segmented into four parts. Those are the following-


By Component:By offering, the Deep Learning Market can be segmented into hardware, software, and service. Hardware is further bifurcated into Processor, memory, and network components. Software is bifurcated into Solution and platform, and the Service segment is divided into Solution and platform.


By Application:By application, this market is further segmented into signal recognition, image recognition, data mining others. Additionally, there are two more aspects to it: NLP, which stands for Natural Language Processing & Recommendation engine.


By end-user Industry:The sub-segments of the end-users in the industry are-

  • Healthcare

  • Automotive

  • security

  • Agriculture

  • Retail

  • Manufacturing

  • Fintech

  • Law

  • Human resources

  • Marketing 


By Geography:

  • Geographical sub-segments are listed below-

  • North America (60%)- This consists of US and Canada zone.

  • Europe (20%)- This consists of UK, Germany, France & Italy.

  • APAC (15%): This region includes countries like China, India, Australia, and Japan.

  • RoW (5%): The primary contributor of the Rest of the World market is dependent on nations like Brazil, U.A.E. and Saudi Arabia.



  • October 2022- Sony has disclosed the Alpha 7R V full-frame camera featuring a brand-new AI focusing system. The “deep learning” trained system, named Real-Time Recognition, can identify humans and birds, insects, cars, trains, planes, and animals. The system is at the core of the Alpha 7R V and is anticipated to come to other models moving ahead, as Sony says the new AF technology is “For R and beyond.”


Deep Learning Market Regional Analysis:In terms of the 2017 revenue, North America holds the biggest market in Deep Learning Research. The main reason behind the growing market is the adoption of deep learning application models for image recognition, voice recognition, signal recognition, data mining, and diagnostic purposes. Additionally, the key players in the market largely investing in the AI technology application-based platforms also have a positive and large impact on the market growth of this region. The rising of digital business and transformation, along with the increasing investment in R&D, is also driving the market growth in the region as well. Mostly, a rise in the usage of deep learning applications for signal recognition, image recognition, and data mining accelerates market growth. The automotive and manufacturing sectors of Canada, Mexico, and the US also substantiate the growth of the market.


The Asia Pacific holds the second position in the Deep Learning Market Share globally. The growing penetration and development in deep learning technology are the driving forces behind the market's growth. Additionally, the spurring rise of digitization and image and voice recognition platforms is giving a boost to the growth of the market. Moreover, foreign investments in model applications of deep learning favour the growth of the regional market.  


The deep learning market is going through a rapid change in Europe. European Government taking the deep learning technology for various purposes like- data mining, fraud detection, surveillance, healthcare diagnostics is accelerating the growth with a huge speed. Most importantly, this region has many notable key players of the market that are investing and largely supporting the deployment across many industries. 



  • September 2022- The Indian Institute of Technology has introduced the Certificate Programme in Deep Learning and Machine Learning to offer skills for learners to design and deploy several ways to build competencies in these technologies to foster growth in this domain.


Deep Learning Market Competitive Landscape:Having many well-established key players in the market, this industry is highly competitive and fragmented. Innovation, brand reinforcement, merger & acquisition are the Deep Learning Market Trends for the most notable key players in the market. These key players deliver leading-edge and modern services and solutions, and they also make substantial investments in R&D for developing products and technologies.


Deep Learning Market Major Key Players:

Recent Developments:In November 2020, some Binghamton University team researchers announced that using deep learning technology in number analyzing has helped improve public safety.


In November 2020, from IIT Roorkee, a team(Ancient AI) of deep learning enthusiasts found some restorative outcomes with deep learning technology. They were able to digitally restore the Ajanta cave murals with the help of utilizing many reference paintings as a database and developing their AI model. This outcome made them won the top prize at the tech4heritage hackathon.  


Report Overview:This report covers several offerings associated with the deep learning market and technology and developments related to it across industries and regions. 


This report also aims at the potential size and growth of the market during the forecast period.


It has a segmental overview such as components, regions, end-users, and applications. 


Furthermore, the report discusses market dynamics, the competitive landscape of the market, and the major key players. 



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 165.79 Billion
  CAGR   28.93% From 2020 to 2030
  Base Year   2019
  Forecast Period   2020 to 2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, End User
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   Intel Corporation (USA) Samsung electronics co. Ltd (South Korea) Amazon Inc (USA) Micron Technology (USA) Sensory Inc (USA) Mellanox technology (USA) Google LLC (USA) Xilinx Inc (USA) Qualcomm Technologies Inc NVIDIA Corp
  Key Market Opportunities   
  Key Market Drivers   These applications are- signal recognition, data mining, and image recognition.


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Frequently Asked Questions (FAQ) :

Google LLC (USA), Qualcomm Technologies Inc. (USA), Mellanox Technologies (USA), Xilinx Inc. (USA), Adapteva, Inc. (USA), and NVIDIA Corporation (USA) are the challengers in the market.

The end-user segments of manufacturing, retail, security, automotive, healthcare, and agriculture are characterizing the market.

A 28.93 % CAGR is proposed to transform the market in the upcoming years.

The regional segments of North America, Europe, and the APAC region are included in the study.

A 28.93% CAGR is estimated to steer the market towards profitable outcomes in the forecast period.

The mounting investments for progressing machine learning are estimated to create promising growth traction.

The North American region is expected to play a major role in the market.