U.S. markets close in 2 hours 24 minutes
  • S&P 500

    4,201.24
    +78.77 (+1.91%)
     
  • Dow 30

    33,254.26
    +479.85 (+1.46%)
     
  • Nasdaq

    12,811.50
    +317.57 (+2.54%)
     
  • Russell 2000

    1,963.19
    +50.30 (+2.63%)
     
  • Crude Oil

    91.94
    +1.44 (+1.59%)
     
  • Gold

    1,813.80
    +1.50 (+0.08%)
     
  • Silver

    20.73
    +0.24 (+1.19%)
     
  • EUR/USD

    1.0327
    +0.0110 (+1.07%)
     
  • 10-Yr Bond

    2.7610
    -0.0360 (-1.29%)
     
  • GBP/USD

    1.2243
    +0.0167 (+1.38%)
     
  • USD/JPY

    132.3660
    -2.7500 (-2.04%)
     
  • BTC-USD

    23,915.50
    +786.71 (+3.40%)
     
  • CMC Crypto 200

    562.73
    +31.51 (+5.93%)
     
  • FTSE 100

    7,507.11
    +18.96 (+0.25%)
     
  • Nikkei 225

    27,819.33
    -180.63 (-0.65%)
     

Deep Learning Market to Reach $179.96 Bn, Globally, by 2030 at 39.2% CAGR: Allied Market Research

·5 min read

Increase in computing power, decline in hardware costs, adoption of cloud-based technology, and usage in big data analytics drive the growth of the global deep learning market.

PORTLAND, Ore., Jan. 18, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Deep Learning Market by Component (Hardware, Software and Service), by Application (Image Recognition, Signal Recognition, Data Mining, and Others) and by Industry Vertical (Security, Marketing, Automotive, Retail & E-Commerce, Healthcare, Manufacturing, Law, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global deep learning industry generated $6.85 billion in 2020, and is expected to reach $179.96 billion by 2030, witnessing a CAGR of 39.2% from 2021 to 2030.

Allied Market Research Logo
Allied Market Research Logo

Drivers, Restraints, and Opportunities

Increase in computing power, decline in hardware costs, adoption of cloud-based technology, and usage in big data analytics drive the growth of the global deep learning market. However, surge in complexity in hardware due to complex algorithm, lack of technical expertise, and absence of standards and protocols hinders the market growth. On the other hand, cumulative spending in the healthcare, travel, tourism, and hospitality industries present new opportunities in the coming years.

Download Sample Report (Get Full Insights in PDF - 286 Pages) at:
https://www.alliedmarketresearch.com/request-sample/5815

Covid-19 Scenario

  • During the Covid-19 pandemic, the demand for deep learning witnessed a significant rise for implementation of digital voice assistance by businesses to help their customers. In addition, rise in focus on virtual reality and augmented technologies by various key market players of different countries led to increased adoption of deep learning algorithms.

  • The deep learning market experienced the growth during the pandemic, due to rise in demand for anti-money laundering (AML), fraud detection solutions, and other solutions to prevent frauds related to money.

  • Deep learning methods have been used to track the spread of coronavirus and take preventive measures and implement regulations to tackle the spread.

Get detailed COVID-19 impact analysis on the deep learning market:
https://www.alliedmarketresearch.com/request-for-customization/5815

The software segment to continue its lead position during the forecast period

Based on component, the software segment contributed to the highest share in 2020, accounting for nearly half of the global deep learning market, and is expected to continue its lead position during the forecast period. This is due to increase in demand for deep learning software across various organizations such as healthcare and BFSI and surge in need of software among organizations for production planning and predictive maintenance. However, the service segment is estimated to manifest the highest CAGR of 40.7% from 2021 to 2030, owing to rise in demand for software-as-a-service (SaaS) with its numerous benefits such as scalability and one-time customer acquisition cost.

The security segment to continue its leadership status during the forecast period

Based on industry vertical, the security segment accounted for the highest share in 2020, contributing to nearly one-fifth of the global deep learning market, and is expected to continue its leadership status during the forecast period. This is due to identification of more advanced malware & threats and detection of unusual activities that may signal existence of rogue actors. However, the healthcare segment is estimated to witness the largest CAGR of 42.0% from 2021 to 2030. This is attributed to empowerment of the sector with its advanced & vast library of specialized algorithms and lightening computational power.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5815

North America to maintain its dominant share in terms of revenue by 2030

Based on region, North America held the highest market share in 2020, contributing to nearly two-fifths of the global deep learning industry, and is expected to maintain its dominant share in terms of revenue by 2030. This is due to increase in investments in deep learning start-ups and surge in popularity of deep learning technology among end users. However, Asia-Pacific is projected to portray the highest CAGR of 40.9% during the forecast period. This is due to increased utilization of deep learning algorithms with rise in digitalization in healthcare, telecommunication, automotive, and banking, financial services and insurance (BFSI) sectors.

Leading Market Players

  • Advanced Micro Devices, Inc.

  • Amazon Web Services, Inc.

  • Google LLC

  • IBM Corporation

  • Intel Corporation

  • Microsoft Corporation

  • NVIDIA Corporation

  • Qualcomm Technologies, Inc.

  • Samsung

  • Xilinx

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Smart Poles Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Payment Gateway Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Distributed Cloud System Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Cision
Cision

View original content:https://www.prnewswire.com/news-releases/deep-learning-market-to-reach-179-96-bn-globally-by-2030-at-39-2-cagr-allied-market-research-301462493.html

SOURCE Allied Market Research