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Deep Learning Market - Driver
The significant rise in the entry of startups is one of the key factors driving the deep learning market growth. With an increase in funding through various global investors, the global deep learning market has witnessed an intrusion of startups in recent years. The major startup sector that offers global deep learning is healthcare, which is focused on drug research and development. Other areas of application in deep learning are visual recognition, fraud detection, insurance, and agriculture. This gives opportunities to vendors to increase their market shares and attract customers from a wide range of industries. Thus, the rise in startups and deep learning applications in various industries is expected to drive market growth globally during the forecast period.
Deep Learning Market - Challenge
One of the major challenges for deep learning market growth is the lack of technical expertise. In comparison to traditional data analysis, deep learning demands a completely different set of technical skills and expertise. There is a limited number of specialists to provide the required expertise in business problems and organizations that have budget constraints have to shy away from hiring the right talent to fulfill the needs. Moreover, it is time-consuming for organizations to find well-trained professionals with appropriate skill sets. Thus, due to the shortage of expertise is limiting the implementation of deep learning models restricting the market growth of the global deep learning market during the forecast period.
Some of the key Deep Learning Players:
The deep learning market is fragmented and the vendors are deploying growth strategies such as launching new deep-learning launches, collaborating, and organizing expansions to compete in the market.
- Alphabet Inc.
- Amazon.com Inc.
- Hewlett Packard Enterprise Co.
- Intel Corp.
- International Business Machines Corp.
- Micron Technology Inc.
- Microsoft Corp.
- NVIDIA Corp.
- Qualcomm Inc.
- Sensory Inc.
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Deep Learning Market Type Outlook (Revenue, USD bn, 2020-2025)
- Software - size and forecast 2020-2025
- Services - size and forecast 2020-2025
- Hardware - size and forecast 2020-2025
Deep Learning Market Geography Outlook (Revenue, USD bn, 2020-2025)
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- South America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
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Deep Learning Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24.57% |
Market growth 2021-2025 |
USD 6.41 billion |
Market structure |
Fragmented |
YoY growth (%) |
23.45 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alphabet Inc., Amazon.com Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., Micron Technology Inc., Microsoft Corp., NVIDIA Corp., Qualcomm Inc., and Sensory Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
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SOURCE Technavio
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