LONDON, Dec. 1, 2016 /PRNewswire/ -- "Deep learning market projected to grow at a CAGR of 65.3% between 2016 and 2022"
According to the new market research report on deep learning, this market is expected to be worth USD 1,772.9 million by 2022, growing at a CAGR of 65.3% between 2016 and 2022. The growth of the deep learning market can be attributed to the increasing demand for deep learning applications in different end-user industries such as automotive, media and advertising, finance, medical, aerospace and defense, and others. This market growth is further propelled by its usage in Big Data analytics. However, the increasing complexity in hardware due to the complex algorithm used in the deep learning technology restrains the growth of the market.
"Image recognition application holds the largest share of the market"
This report covers deep learning applications such as image recognition, signal recognition, data mining, and others. Image recognition holds the largest share of the deep learning market owing to its use in industries such as aerospace and defense, I.T. and telecom, and media and advertising. The image recognition market is growing with the advent and increasing use of technology in social media platforms such as Facebook, Instagram, and Flickr. The increasing adoption of Android, Windows, and iOS phones would further fuel the demand for the image recognition application in the deep learning market.
"Software holds the largest share of the deep learning market by offering"
This report covers the hardware and software offering in the deep learning technology. Software holds the larger share of the deep learning market in the image recognition application because of the rising demand for image data analysis among online marketing and security and surveillance companies. For instance, in the security and surveillance industry, the image recognition technology is used for biometric face mapping, vehicle identification, and monitoring of public facilities to enhance indoor as well as outdoor security.
"Deep learning market in North America expected to grow at the highest rate"
This report covers the deep learning market in regions including North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in North America is expected to grow at a high CAGR between 2016 and 2022. The major reason for the growth of the deep learning market in North America is the presence of major companies in the region offering deep learning solutions/platforms and hardware such as Google Inc. (U.S.), IBM Corp. (U.S.), Microsoft Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Skymind (U.S, Hewlett Packard Enterprise (U.S.), Sensory Inc. (U.S.), General Vision Inc. (U.S.), Intel Corporation (U.S.), and NVIDIA Corporation (U.S.).
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 20%, Tier 2 - 55%, and Tier 3 - 25%
- By Designation: C level - 50%, Director level - 25%, and Others - 25%
- By Region: North America - 60%, APAC - 10%, Europe - 20%, and RoW - 10%
The companies that are profiled in the report are Google Inc. (U.S.), IBM Corp. (U.S.), Microsoft Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Skymind (U.S.), Baidu, Inc. (China), Hewlett Packard Enterprise (U.S.), Sensory Inc. (U.S.), General Vision Inc. (U.S.), Intel Corporation (U.S.), and NVIDIA Corporation (U.S.).
This report covers the key software solutions/platforms and components of the deep learning market. Deep learning is deployed in different applications such as image recognition, signal recognition, data mining, and others (recommender system and drug discovery). The report covers various end-user industries such as aerospace and defense, IT and telecom, medical, automotive, industrial, media and advertising, finance, retail, oil, gas and energy, and others (agriculture, education, law). The entire deep learning market is segmented on the basis of region into North America, Europe, APAC, and RoW.
Reasons to Buy the Report:
- This report includes the market statistics pertaining to application, offering, end-user industry, and geography along with their respective revenue.
- The Porter's Five Forces framework has been provided along with the value chain analysis to provide an in-depth insight into the deep learning market.
- The major drivers, restraints, challenges, and opportunities for the deep learning market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for deep learning market based on application, offering, end-use application and geography have been provided to give an overall view of the deep learning market.
- A detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players.
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