According to the latest research by SkyQuest Technology, the Global Machine Learning Market was valued at US$ 16.2 billion in 2021, and it is expected to reach a market size of US$ 164.05 billion by 2028, at a CAGR of 39.2 % over the forecast period 20222028. The research provides up-to-date Machine Learning Market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Software systems may forecast events more correctly with the use of machine learning (ML), a type of artificial intelligence (AI), without needing to be explicitly told to do so. Machine learning algorithms use historical data as input to anticipate new output values. As organizations adopt more advanced security frameworks, the global machine learning market is anticipated to grow as machine learning becomes a prominent trend in security analytics. Due to the massive amount of data being generated and communicated over several networks, cyber professionals struggle considerably to identify and assess potential cyber threats and assaults.
Machine-learning algorithms can assist businesses and security teams in anticipating, detecting, and recognising cyber-attacks more quickly as these risks become more widespread and sophisticated. For example, supply chain attacks increased by 42% in the first quarter of 2021 in the US, affecting up to 7,000,000 people. For instance, AT&T and IBM claim that the promise of edge computing and 5G wireless networking for the digital revolution will be proven. They have created virtual worlds that, when paired with IBM hybrid cloud and AI technologies, allow business clients to truly experience the possibilities of an AT&T connection.
Computer vision is a cutting-edge technique that combines machine learning and deep learning for medical imaging diagnosis. This has been accepted by the Microsoft InnerEye programme, which focuses on image diagnostic tools for image analysis. For instance, using minute samples of linguistic data, an AI model created by a team of researchers from IBM and Pfizer can accurately forecast the eventual onset of Alzheimers disease in healthy persons by 71 percent (obtained via clinical verbal cognition tests).
Read Market Research Report, Global Machine Learning Market by Component, (Solutions, and Services), Enterprise Size (SMEs And Large Enterprises), Deployment (Cloud, On-Premise), End-User [Healthcare, Retail, IT and Telecommunications, Banking, Financial Services and Insurance (BFSI), Automotive & Transportation, Advertising & Media, Manufacturing, Others (Energy & Utilities, Etc.)], and Region Forecast and Analysis 20222028 By Skyquest
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Large enterprises segment dominated the machine learning market in 2021. This is because data science and artificial intelligence technologies are being used more often to incorporate quantitative insights into business operations. For instance, under a contract between Pitney Bowes and IBM, IBM will offer managed infrastructure, IT automation, and machine learning services to help Pitney Bowes convert and adopt hybrid cloud computing to support its global business strategy and goals.
Small and midsized firms are expected to grow considerably throughout the anticipated timeframe. It is projected that AI and ML would be the main technologies allowing SMEs to reduce ICT investments and access digital resources. For instance, the IPwe Platform, IPwe Registry, and Global Patent Marketplace are just a few of the small- and medium-sized firms (SMEs) and other organizations that are reportedly already using IPwes technology.
The healthcare sector had the biggest share the global machine learning market in 2021 owing to the industrys leading market players doing rapid research and development, as well as the partnerships formed in an effort to increase their market share. For instance, per the terms of the two businesses signed definitive agreement, Francisco Partners would buy IBMs healthcare data and analytics assets that are presently a part of the Watson Health company. An established worldwide investment company with a focus on working with IT startups is called Francisco Partners. Francisco Partners acquired a wide range of assets, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software services.
The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are IBM Corporation, SAP SE, Oracle Corporation, Hewlett Packard Enterprise Company, Microsoft Corporation, Amazon Inc., Intel Corporation, Fair Isaac Corporation, SAS Institute Inc., BigML, Inc., among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Machine Learning Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
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What does this Report Deliver?
SkyQuest has Segmented the Global Machine Learning Market based on Component, Enterprise Size, Deployment, End-User, and Region:
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Key Players in the Global Machine Learning Market
About Us-SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
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Global Machine Learning Market is Expected to Grow at a CAGR of 39.2 % by 2028 - Digital Journal
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