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Machine Learning Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR40918
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The machine learning market share is expected to increase by USD 24.13 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 43.22%.

This machine learning market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers machine learning market segmentations by end-user (BFSI, retail, telecommunications, healthcare, and others) and geography (North America, Europe, APAC, MEA, and South America). The machine learning market report also offers information on several market vendors, including Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc. among others.

What will the Machine Learning Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Machine Learning Market Size for the Forecast Period and Other Important Statistics

 

Machine Learning Market: Key Drivers and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 eraThe increasing adoption of cloud-based offerings is notably driving the machine learning market growth, although factors such as shortage of skilled personnel may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the machine learning industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Machine Learning Market Driver

One of the key factors driving the global machine learning market growth is the increasing adoption of cloud-based offerings. The multiple benefits of cloud computing such as minimal cost for computing, network and storage infrastructure, scalability, reliability, and high resource availability will encourage enterprises to adopt cloud-based solutions in their business models. The adoption of cloud computing also helps in reducing operating costs as it eliminates the need for dedicated IT support teams. The pay-per-use subscription plans and availability of advanced and scalable infrastructure at a low cost will further accelerate the adoption thereby encouraging vendors to come up with more such customized plans. For instance, in December 2020 HP Enterprises announced to offer its solutions as a service by the HPE Greenlake. Other factors such as outsourcing the task for maintenance, software update, and repair to avoid the direct costs in the implementation and use of machine learning will further support the market growth

Key Machine Learning Market Challenge

One of the key challenges to the global machine learning market growth is the shortage of skilled personnel in developed countries, such as the US and the UK. As a result, the companies invest more money in retaining and training their existing employees. For instance, in May 2019, Microsoft partnered with General Assembly Space Inc. (General Assembly), a private non-profit educational organization, to launch a certification and training program for AI-related skills. The partnership aims to train 15,000 people, focusing on AI, machine learning, data science, and cloud and data engineering by 2022. Microsoft will also train its 2,000 existing employees on AI and machine learning skillset. Moreover, the World Economic Forum states that by 2022, AI and related skills will create the demand for new worker skills, and up to 133 million jobs will be created because of the new division of labor between humans, machines, and algorithms. The expected demand-supply gap of skilled workforce might limit the market growth during the forecast period.

This machine learning market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Machine Learning Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alibaba Group Holding Ltd.
  • Alphabet Inc.
  • Amazon.com Inc.
  • Cisco Systems Inc.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Salesforce.com Inc.
  • SAP SE
  • SAS Institute Inc.

 

This statistical study of the machine learning market encompasses successful business strategies deployed by the key vendors. The machine learning market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The machine learning market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Machine Learning Market?

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38% of the market’s growth will originate from North America during the forecast period. The US is the key market for machine learning in North America. Market growth in this region will be faster than the growth of the market in MEA.

The rapid adoption of cloud and machine learning will facilitate the machine learning market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Machine Learning Market?

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The machine learning market share growth by the BFSI segment will be significant during the forecast period. The huge investment by BFSI companies in machine learning to reduce costs and improve customer relations, risk management, workflows, and decision-making process will support the growth in this segment. For instance, according to the global head of BFSI business, the COVID-19 pandemic has turned technology into a transformative force within the BFSI industry and beyond and has unleashed innovation and made monolithic systems responsive to change by the minute.

This report provides an accurate prediction of the contribution of all the segments to the growth of the machine learning market size and actionable market insights on post COVID-19 impact on each segment.

 

Machine Learning Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 43.22%

Market growth 2021-2025

$ 24.13 billion

Market structure

Fragmented

YoY growth (%)

38.54

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 38%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Machine Learning Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive machine learning market growth during the next five years
  • Precise estimation of the machine learning market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the machine learning industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of machine learning market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • BFSI - Market size and forecast 2020-2025
    • Retail - Market size and forecast 2020-2025
    • Telecommunications - Market size and forecast 2020-2025
    • Healthcare - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Alibaba Group Holding Ltd.
      • Alphabet Inc.
      • Amazon.com Inc.
      • Cisco Systems Inc.
      • Hewlett Packard Enterprise Co.
      • International Business Machines Corp.
      • Microsoft Corp.
      • Salesforce.com Inc.
      • SAP SE
      • SAS Institute Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The machine learning market growth will increase by $24138.23 million during 2020-2025.
      The machine learning market is expected to grow at a CAGR of 43.22% during 2020-2025.
      Technavio has segmented the machine learning market by end user (BFSI, Retail, Telecommunications, Healthcare, and Others) and geographic (North America, Europe, APAC, MEA, and South America).
      Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Salesforce.com Inc., SAP SE, SAS Institute Inc. are a few of the key vendors in the machine learning market.
      North America will register the highest growth rate of 37.57% among the other regions. Therefore, the machine learning market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the machine learning market growth are:
      • Increasing adoption of cloud-based offerings
      • Growing popularity of smart alternators
      The machine learning market vendors should focus on grabbing business opportunities from the bfsi segment as it accounted for the largest market share in the base year.
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