Global Deep Learning Market Report 2023:-2027: Rise in the Adoption of Cloud Technology & Applications in Automotive Industry Fueling Demand

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Feb 17, 2023, 06:50 ET

DUBLIN, Feb. 17, 2023 /PRNewswire/ -- The "Deep Learning Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Offering (Hardware, Software, and Services), By Application, By End-User Industry, By Architecture, and By Region" report has been added to ResearchAndMarkets.com's offering.

The global deep learning market is expected to grow at an impressive CAGR in the forecast period, 2023-2027

Reduction in hardware costs, improvement of computational power, and rise in adoption of cloud-based technology are the primary factors driving the demand for the global deep learning market for the next five years.

Deep learning is a subset of machine learning which involves a neural network with three or more layers. Deep learning learns by processing large amounts of data to extract meaningful information.

Deep learning technology enhances the automation process, drives artificial intelligence applications, and services, and performs analytical and physical tasks without human intervention. Deep learning technology is expected to witness massive demand in the forecast period due to an increase in demand for convenience services and applications aiming to improve the consumer experience.

Increased Awareness about Deep Learning Technology Drives the Market Growth

The rise in the adoption of IoT devices across several industries is fueling the demand for technologies having high computational power. Shift to online platforms by prominent industry verticals to increase transparency and access of employees to the company data generates large volumes of data. Deep learning solution provides companies with flexible and scalable insights. The solutions are affordable and help in processing the information in real time, allowing organizations to make informed decisions in less time.

The banking, financial services, and insurance (BFSI) sector create huge growth opportunities for deep learning technology. The BFSI industry stores vast amounts of confidential information that needs to be protected from possible cyberattacks. Deep learning technology is highly secure and takes essential steps to adhere to strict compliance guidelines, ensuring that the data is not lost and is adequately documented.

A rise in the Adoption of Cloud Technology Fuels the Market Demand

With the increase in data generation, the need for tools that can analyze, process, and extract meaningful information is expected to rise. Cloud analytics combines infrastructural, analytical, and technological tools & techniques and aids in obtaining essential data from the dataset.

The rapid adoption of cloud-based deep learning platforms eliminates the need to invest in capital and hardware infrastructure and, therefore, is considered highly cost-effective. It also lowers the operational and maintenance costs for organizations. Cloud-based deep learning technology is highly secure and provides enhanced protection to secure critical information of the organization.

Applications in Automotive Industry Support the Market Growth

The flourishing automotive industry and the adoption of attractive features and technologies by automotive manufacturers are expected to create lucrative opportunities for the global deep-learning market in the next five years.

Deep learning finds several applications in self-driving cars, connected vehicles, predictive maintenance, driver assistance, quality control, and efficiently managing the supply chain. The advancements in deep learning technology and the growing use of advanced technologies in automobiles are expected to accelerate the global deep learning market growth for the next five years.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global deep learning market.

Amazon Web Services (AWS)
Google Inc.
IBM Corporation
Intel Corporation
Micron Technology
Microsoft Corporation
Nvidia Corporation
Qualcomm
Samsung Electronics
Sensory Inc.

Report Scope:

Deep Learning Market, By Offering:

Hardware
Software
Services

Deep Learning Market, By Application:

Image Recognition
Signal Recognition
Data Mining

Deep Learning Market, By End-User Industry:

Healthcare
Retail
Automotive
Security
Manufacturing
Others

Deep Learning Market, By Architecture:

Deep Learning Market, By Region:

North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Malaysia
Europe
Germany
United Kingdom
France
Italy
Spain
Poland
Denmark
South America
Brazil
Argentina
Colombia
Peru
Chile
Middle East & Africa
Saudi Arabia
South Africa
UAE
Iraq
Turkey

For more information about this report visit https://www.researchandmarkets.com/r/whvyax-learning?w=5

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