Global deep learning demand is anticipated to be valued at USD 12,569.0 Million in 2022, forecast to grow at a CAGR of 26.4% to be valued at USD 130,667.0 Million from 2022 to 2032. Growth of the Deep Learning Market is attributed to a rapid adoption of cloud-based technology across several industries.
Deep learning is evolving as one of the most advanced technologies in enterprise computing. Organizations are using deep learning neural networks to obtain valuable insights from vast amounts of data to offer innovative products and improved customer experience and thereby increasing revenue opportunities for the deep learning market.
The rising need for enhanced human and system interaction will be driving the growth of the deep learning market during the forecast period. As deep learning systems offer expert assistance, it will assist humans to extend their capabilities. Also, there is a rise in usage of deep learning technology across various industrial verticals such as medical, finance, automotive retail, and others. Another driving factor for this market is the robust R&D for the expansion of better processing hardware for deep learning.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2016 to 2021) | 20.2% CAGR |
| Expected Market Value (2022) | USD 12,569.0 Million |
| Anticipated Forecast Value (2032) | USD 130,667.0 Million |
| Projected Growth Rate (2022 to 2032) | 26.4% CAGR |
There is increasing demand for deep learning in fraud detection, database systems, and cyber security is driving the growth of data mining applications in deep learning market. Healthcare industries produce a huge volume of data sets related to patient details, diagnosis, etc. Thus, data mining is anticipated to witness highest growth rate in the healthcare sector in the near future.
Furthermore, the proliferation of deep learning integration with big data analytics and rising need to improve computing power and decline hardware cost owing to deep learning algorithms capability to run or execute faster on a GPU as compared to a CPU is resulting in high adoption of deep learning technologies among various industries has positively anticipated in propelling the growth of global Deep Learning Market.
On the contrary, factors such as lack of technical expertise in deep learning, and the absence of standards and protocols are expected to hamper the growth of the Deep Learning Market in the forthcoming years.
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Rising necessity for hardware platforms with high computing power to execute deep learning algorithms is one of the major factors that is expected to accelerate the growth of the Deep Learning Market during the forecast period. In addition, the growing usage of deep learning in data analytics and database systems are expected to create lucrative growth opportunities for Deep Learning Market.
The technology is gaining prominence because of advancements in data center capabilities, high computing power, and the ability to perform tasks without human interactions. Moreover, the rapid adoption of cloud-based technology across several industries is fueling the growth of the market. Deep learning algorithms can perform several repetitive and routine tasks more efficiently within a shorter time than human beings. In addition, the quality of the work is maintained and provides accurate insights.
Thus, implementing deep learning in the organization can save time and money, which eventually frees up the employees to perform creative tasks that need human involvement. Therefore, deep learning is considered a disruptive technology across several end-use industries, uplifting the demand for technology.
The increasing adoption of cloud-based services and large-scale generation of unstructured data has surged the demand for deep learning solutions. Also, the growing applications of deep learning in recent years for image/speech recognition, data mining, and language translations, and the growing number of humanoid robots, for example, Sophia, developed by Hanson Robotics, are some of the major factors thar are anticipated to fuel the growth of the Deep Learning Market during the forecast period.
Growing investments for developing machine learning and deep learning applications in the region by key market players are expected to accelerate market growth. Moreover, the rapid increase in the amount of data being generated in different end-use industries is expected to provide traction to the industry growth. Additionally, the increasing need for human and machine interaction is offering new growth avenues to solution providers for providing enhanced solutions and capabilities.
Moreover, the advancements in technologies, the presence of limited structured data to increase demand for deep learning solutions, cumulative spending in healthcare, travel, tourism, and hospitality industries, and untapped potential in emerging markets are anticipated to offer favorable growth opportunities to the market growth.
There are certain restraints and challenges faced which are expected to impede the growth of the Deep Learning Market growth. The factors such as lack of technical expertise in deep learning and the absence of standards and protocols are limiting the market growth.
In addition, complex integrated systems and the integration of deep learning solutions and software into the existing systems is a difficult task which confines growth. Besides, increasing complexity in hardware due to complex algorithms, lack of flexibility and multitasking, and deployment of Deep Learning for applications such as NLP in regional dialects are the potential restraints that are hindering the overall growth of the global Deep Learning Market.
In terms of regional platform, North America holds the largest market share in Deep Learning market. The region is expected to accumulate a 36.7% revenue share in 2022. The widespread adoption of deep learning technology is one of the major factors that is expected to propel the regional growth during the forecast period. There is high growth of deep learning market in the region, due to the presence of prominent players in the region that offers deep learning services and hardware such as IBM Corporation, Qualcomm Technologies, Inc. and Intel Corporation, etc.
Increased investments in artificial intelligence and neural networks, the high adoption of image and pattern recognition in the region are the major factors that are anticipated to open new growth avenues for the Deep Learning Market over the analysis period. Moreover, the region is one of the early adopters of advanced technologies, rendering organizations adopt deep learning capabilities at a faster pace.
According to Future Market Insights, Europe is expected to hold significant growth opportunities for Deep Learning Market, and is expected to reach at a share of 24.5% in 2022.
Increased government support is expected to provide a positive impact on the growth of the industry in the region. The establishment of subcommittees on artificial intelligence and machine learning within the federal government is providing traction for the growth.
Europe has contributed significantly to the market growth as several new measures have been taken to support the artificial intelligence sector in the region to boost growth and deliver a digital economy. This, in turn, has offered considerable growth opportunities in the deep learning space. The UK is underpinning the technology to grow further in the areas of autonomous vehicles, smart devices, and cyber security.
According to Future Market Insights, Asia-Pacific is expected to grow with lucrative growth opportunities for Deep Learning Market, and is expected to reach at a significant share of 21.8% in 2022.
Deep learning is becoming more popular as this technology is employed in more than only electrical items like smartphones, tablets, and PCs, and yet also healthcare and automotive products. The rapid economic development of key nations such as China and India play a major role in encouraging the growth of the Asia Pacific Deep Learning Market.
Furthermore, rising government support is likely to have a positive impact on the region's industry growth. The growing need for the deep learning software, like signal recognition, image recognition, and data mining, in industries like healthcare, automotive, IT and telecommunications, aerospace & defence, as well as ongoing projects and the formation of artificial intelligence and machine learning subcommittees within the federal government, are the major factors that are projected to escalate the growth of the Deep Learning Market in Asia Pacific.
According to Future Market Insights, Middle East & Africa is expected to provide significant growth opportunities for Deep Learning Market, and is expected to reach at a share of 13.0% in 2022.
Middle East & Africa is expected to represent a significant share in the Deep Learning Market, owing to growing funding in artificial intelligence and neural networks. The region's widespread use of image and monitoring purposes is estimated to generate new growth prospects over the forecast period.
There are many prominent market players in the Deep Learning Market such as Augury, Alation, Algorithmia, Avora, Boast.ai, ClosedLoop.ai, Cognino AI, Databand, DataVisor, Exceed.ai, Indico, JAXJOX, LeadGenius, Netra, Particle, Resurface Labs, RideVision, Savvie, SECURITI.ai, SkyHive, Stravito, Uniphore, and Vertia.ai, among others, that are working hand-in-hand to provide the best-in-class Deep Learning for enhancing the global arena. However, there are many global start-ups in the Deep Learning Market, which are stepping forward in matching the requirements of the Deep Learning domain.
Some of the key participants present in the global Deep Learning market include NVIDIA Corporation, Intel Corporation, General Vision, Graphcore, General Vision Inc., Xilinx, Qualcomm Technologies, Google Inc., Microsoft Corporation, AWS, Sensory Inc., IBM Corporation, Samsung Electronics, Micron Technology, and Mellanox Technologies, among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as NVIDIA Corporation, Intel Corporation, General Vision, Graphcore, General Vision Inc., and Xilinx, account for a considerable market size, several regional level players are also operating across key growth regions, particularly in North America.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 26.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Market Value in 2022 | USD 12,569.0 Million |
| Market Value in 2032 | USD 130,667.0 Million |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Application, End User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, GCC, South Africa, Israel |
| Key Companies Profiled | NVIDIA Corporation; Intel Corporation; General Vision Inc.; Graphcore; Xilinx; Qualcomm Technologies; Google Inc.; Microsoft Corporation; Amazon Web Services; Sensory Inc.; IBM Corporation; Samsung Electronics; Micron Technology; Mellanox Technologies; Facebook Inc.; SAS Institute Inc. |
| Customization | Available Upon Request |
FMI projects the global deep learning market to expand at a 26.4% value CAGR by 2032
North America is expected to be the most opportunistic Deep Learning market, expanding at a 36.7% market share
NVIDIA Corporation, Intel Corporation, General Vision, Graphcore, General Vision Inc., and Xilinx, among others are some prominent Deep Learning players
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Deep Learning Market
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